Group Auditing reports directly to the Management Board. Subject to agency agreements, it operates for all subsidiaries of the Metzler Group. It fulfills its tasks independently and does not take any instructions either for reporting or for evaluating audit results. Group Auditing is generally authorized to conduct audits on site.
Group Auditing assesses the effectiveness of the risk management system and the internal control system including management and monitoring processes, and it makes recommendations for improvement. It not only ensures that all operating and business procedures are orderly but also assesses their profitability.
Audits carried out by Group Auditing are based on a risk-oriented audit schedule which is authorized in writing by the members of the Partners’ Committee B. Metzler seel. Sohn & Co. Holding AG each year in advance. This auditing process encompasses planning, preparation, execution and completion.
It takes into consideration the risks in the areas being audited as well as adherence to statutory, regulatory and internal specifications. In talks at the end of each year, the auditing results of the preceding year and the audit schedule for the coming year are discussed with the companies, operating units and specialist divisions.
The number of employees in Group Auditing is geared to the company organization, business fields and business development as well as the risk structure of Metzler Holding and the applicable regulatory specifications. Adjustments are made as required. All staff members of Group Auditing have been trained and are qualified for their tasks, have extensive professional experience and participate regularly in training measures. They work solely in Group Auditing.
Group Auditing’s activities are audited annually by an external auditing firm and have always unconditionally fulfilled the regulatory requirements.
Frankfurt/Main, December 2014