Opportunity and risk report

Key characteristics of ICS and RMS with regard to the Group accounting process

Our Group-wide internal control system (ICS), which also includes accounting-related processes, is an integral part of the RMS. To the extent that compliance is deemed to be appropriate, the organization of our ICS takes into account the recommended conduct set out by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in its publication “Internal Control – Integrated Framework” in the revised version from 2013. On that basis, our ICS – especially with regard to the accounting process – is a continuous process based on basic Group-wide principles and control mechanisms, such as system-based and manual reconciliations, the separation and clear definition of functions as well as the monitoring of compliance and further development of Group-wide guidelines and special work instructions.

The accounting-related control mechanisms we use beyond the instruments outlined above include, among other things, standardized Group-wide reporting and the regular updating of the relevant accounting directives and accounting-related systems.

Subject to a binding schedule, business transactions of the accounting-relevant units are processed in line with IFRS principles and in compliance with Group-wide, uniform procedures.

The auditing activities of the intra-Group auditors, which represent another element of our control mechanisms, are focused on assessing the adequacy and effectiveness of our ICS, among other things. In addition to our monitoring mechanisms, the Audit and Compliance Committee and/or the Supervisory Board are concerned with the effectiveness of the ICS.

The management of the companies included in DB Group’s scope of fully consolidated companies and of the individual business units verifies, among other things, the completeness and accuracy of the reporting data relevant to the finan­cial statements using a quarterly internal reporting process. In addition, the respective responsible management confirms compliance with the Group-wide ICS requirements, which are supplemented where necessary by company-specific documented control and monitoring instruments.

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