Audit reports

External assessments of our compliance program

In July 2013, thyssenkrupp agreed with Deutsche Schutzvereinigung für Wertpapierbesitz e.V. and the shareholder Christian Strenger, whose motions for a special audit were rejected by the Annual General Meeting in January 2013, to carry out a voluntary special audit – with the aim of creating sustainable value for thyssenkrupp and its shareholders.

The special audit looked into the basic structure of the improved internal control system with regard to its appropriateness in preventing compliance infringements in the future, the status of implementation of certain recommendations in the compliance management system, as well as the appropriateness of the investment control process for future large investment projects and the associated reporting to the Supervisory Board.

thyssenkrupp engaged two special auditors, BDO AG Wirtschaftsprüfungsgesellschaft and Prof. Dr. Hans-Joachim Böcking, Professor of Business Administration, Auditing and Corporate Governance at Goethe University Frankfurt am Main, to perform the special audit. The auditors carried out their audit up to the beginning of November 2013.

Taking into account the dynamic change process at thyssenkrupp, the special auditors conclude in their report that the systems and processes examined have been intensively enhanced, and the concepts and planned measures are constructive. The auditors confirm that the further development of the compliance-relevant internal control system in particular is well advanced, and find the compliance function to be professionally organized and appropriately staffed.

IDW PS 980 assessment 2011

thyssenkrupp has subjected its Groupwide compliance program to an examination by KPMG AG according to the Compliance standard PS 980 of the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer, “IDW”) in relation to the areas of antitrust and anticorruption law, with the period under review being April to September 2011.

The examination involved auditing the appropriateness of the design and implementation, as well as auditing the effectiveness of the thyssenkrupp compliance program, which is the most intensive audit type of IDW PS 980. Due to particular regulations in the USA and Canada, group companies there have not been part of the audit.

KPMG issued an attestation according to which the thyssenkrupp Compliance Management System has been appropriately implemented and effective in the period under review. As far as recommendations have been issued on the ground of findings, their implementation will be subject to review. The report of KPMG is available for download.