At Bilfinger, compliance is a key component of successful management and good corporate governance. With this in mind, we have revised our compliance system. It is now in line with increased global requirements and international standards.
New compliance rules are in place on a Group-wide basis since November 1, 2012. A Code of Conduct details the general principles of our behavior. Corresponding Group guidelines contain concrete instructions on the issues of integrity, competition and dealing with business partners.
The control systems we have implemented to ensure that compliance regulations are adhered to include routine and special audits by Internal Auditing. As part of our monitoring of business relationships, we pay particular attention to the use of third parties in connection with order acquisition.
We actively pursue information on compliance violations through our own investigations, by notifying the relevant authorities and cooperating with them to achieve a full resolution. Any misconduct that is discovered will result in personnel consequences for those involved and will lead to preventive organizational measures. The internal findings gained from reporting, the comparison with other systems and the evaluations from external specialists all lead to the ongoing development and improvement of our compliance system.