We consider good corporate governance to be the prerequisite that underpins the sustainable profitability of DESMA and promotes the trust that our stakeholders vest in us. Compliance with statutory provisions as well as the company's internal rules and regulations (Compliance Management) constitute a cast-iron framework within which our entrepreneurial activities develop. Supported by our compliance management and risk management system, which is flanked by our internal control system, it is our aim to avoid contraventions of the law and so to safeguard the company against financial loss and against risks to its reputation.
Corporate Compliance at DESMA is a task and an obligation incumbent on each individual employee in their own area of responsibility across all hierarchical levels. Our corporate guideline provides our employees with guidance for law-abiding conduct and for fulfilling their compliance duties. This guideline is supplemented by more detailed explanations and information applicable to particularly sensitive areas of the law, such as the guiding principles for the avoidance of corruption, conduct in respect of competitors, and on insider trading law. Confidential information on potential breaches of compliance can be reported to a central desk within the Group that our employees can also contact if they have specific questions and require further information.
DESMA's Executive Board meets its obligation to monitor compliance with statutory provisions and internal rules and regulations, especially the guidelines on corporate compliance, through regular control checks, supported by Internal Audit. Irrespective of these processes, the executive bodies of the subsidiaries and affiliated companies of DESMA are required as part of their corporate responsibility to ensure that compliance duties are fulfilled and to take suitable measures to avoid any contravention of the law.
In order to make executives and employees fully aware of adhering to ruling laws, standards and internal rules, to show potential risks and appropriate behaviour, compliance courses for particularly sensitive departments such as management at all locations, sales, purchasing and financial controlling and CCC were held in 2015. The compliance training will from now on take place on a yearly basis having different priorities. On our intranet there is also the annual information on compliance within our company available.
Just follow the links listed below for information about our compliance guide lines: