Risk Management

Our responsible approach to deal with risks is supported by a comprehensive Risk Management System and Internal Control System (RMS/ICS). The organizational structure of RMS/ICS from Audi is based on the internationally recognized COSO Enterprise Risk Management Framework standard (COSO: Committee of Sponsoring Organizations of the Treadway Commission). It helps to identify and minimize potential risks and, where possible, to avoid them altogether.

Standardized Group-wide policies form the basis for a transparent and adequate approach to handling risks. This includes:

• promoting an open risk culture,
• aligning RMS/ICS with the corporate goals,
• assessing risks and opportunities in order to be able to make use of opportunities that involve manageable and controllable risks,
• complying with rules (compliance),
• ensuring that RMS/ICS is appropriate in terms of the type, scope, complexity and risk content of the concrete business operation, the scope of business and
• regularly checking RMS/ICS with regard to effectiveness and efficiency.