Annual Report 2009/2010 Geschäftsbericht 2009/2010 ... - biolitec AG

56 Management Report Konzernlagebericht
– momentarily done manually by the parent company’s accounting department.
The in respect to the company’s size implemented organizational, corporate, control and monitoring
structures as well as the personnel and tangible equipment of the company’s accounting department
under aspects of economic efficiency are the basis for an efficient work of all accounting related departments.
Compliance with the IFRS as the group’s accounting standard and respective internal guidelines
are the basis for a uniform and generally correct accounting process.
With respect to the application of the internal control systems as well as organizational preparations
affiliated with the accounting process the group has identified weaknesses which were the cause for the
delayed preparation of financial status. The Executive Board has agreed upon countermeasures and
started implementing these.
Remuneration
Executive Board
The Executive Board’s remuneration consists of fixed salary components only and amounted to KEUR
180 in the fiscal year 2009/2010. Variable compensation is non-existent. The fixed salary components
paid to members of the Executive Board comprise benefits such as company cars and benefits in kind as
well as other equipment and services necessary for Executive Board members to fulfill their duties.
For an individual breakdown of compensation of the members of the Executive Board see notes section
11.
Supervisory Board
The Supervisory Board’s remuneration consists of fixed salary components only and amounted to KEUR
90 in the fiscal year 2009/2010. Variable compensation is non-existent.
For an individual breakdown of compensation of the members of the Supervisory Board see notes section
11.