To enable early identification of material risks, Arcandor AG has set up a risk management system. A detailed account is given in the Group Management Report on pages 86 to 90.
Consolidated accounting is in accordance with IFRS (International Financial Reporting Standards).
The Supervisory Board appointed BDO Deutsche Warentreuhand Aktiengesellschaft Wirtschaftsprüfungsgesellschaft to be the auditors for the 2007/2008 financial year. The Supervisory Board first ascertained that no business, financial, personal or other relations which could give rise to doubts about the auditor’s impartiality existed between the auditor and its executive bodies and audit managers on one hand and the corporation and the members of its executive bodies on the other. The main points of the audit were fixed with the auditor and it was agreed that any possible grounds for exclusion or partiality would be removed or made known without delay during the audit.