Supervisory Board. In the presence of the auditor as well as members of the Management
Board, the Audit Committee discussed the annual financial statements of ALTANA AG and
the ALTANA Group. In addition, it dealt with the statutory audit process mandating the
auditor, the setting of audit fees, monitoring the auditor’s independence, and the approval
of non-auditing services of the auditor. Furthermore, the Audit Committee addressed the
identification and monitoring of risks in the Group, the Group’s internal auditing activities,
ALTANA’s Compliance Management System, as well as the good corporate governance.
At its March meeting, the Audit Committee received a report on the company’s insurance
management in the current insurance market environment. In December, the Audit Committee
dealt intensively with cyber risks threatening the Group and how to defend against
them. The Mediation Committee, established in accordance with section 27 (3) of the
German Codetermination Act, did not convene in the 2021 fiscal year.
Annual Financial Statements
The Annual Financial Statements of ALTANA AG, the Consolidated Financial Statements for
the year ended December 31, 2021, and the Management Report of ALTANA AG, as well as
the Group Management Report, were audited by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft,
which was appointed by the Annual General Meeting and engaged
by the Audit Committee of the Supervisory Board, and it issued an unqualified audit
opinion in each case. The system for early risk recognition set up for the ALTANA Group
pursuant to section 91 of the German Stock Corporation Act was audited, and the examination
revealed that the monitoring system is suitable in all material respects for the early
recognition, with reasonable assurance, of developments endangering the ability of the
company to continue as a going concern.
The financial statement documentation, the Corporate Report, the reports of PricewaterhouseCoopers
GmbH Wirtschaftsprüfungsgesellschaft on the audit of the Annual Financial
Statements and the Consolidated Financial Statements, as well as the Management Board’s
proposal for the use of the net profit, were made available to all Supervisory Board members.
The Audit Committee of the Supervisory Board dealt at length with this documentation.
The Supervisory Board inspected the documentation and dealt with it in depth at its balance
sheet meeting in the presence of the auditor, who reported on the main results of the examination.
The Supervisory Board is in agreement with the findings of the audit without objections
and in its meeting of March 16, 2022, approved the Annual Financial Statements and
16 Report of the Supervisory Board