Our Risk Management System (RMS) / Internal Control System (ICS) is based on the internationally recognized COSO framework for enterprise 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.
Principles of AUDI AG
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.
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