Another important element to guarantee the effectiveness
of the CMS is the work of Internal Audit. For a few years
now, compliance programs have been carried out regularly
at ALTANA and its subsidiaries.
With the ALTANA Compliance Hotline, ALTANA provides
another central means of ensuring compliance. The latter
gives employees as well as external third parties the possibility
of reporting illegal behavior, if need be, anonymously.
Once a year, the Audit Committee receives a written
report on compliance that is presented and discussed in
a meeting of the committee in addition to the other proceedings.
The report gives an overview of the risks identified
for each compliance area, as well as already implemented
or planned measures to advance the system. The Audit
Committee is also informed about compliance violations.
ALTANA joined the UN Global Compact initiative,
whose members are voluntarily committed to adhering to
social and environmental standards as well as the protec-
tion of human rights. By joining Global Compact, ALTANA
has not only acknowledged its principles but also shown
a general commitment to support and promote overall UN
aims.
Corporate Governance 13