During the business year 2017/18, the Supervisory Board fulfilled its responsibilities under the law and the Articles of Incorporation, holding five plenary sessions, three meetings of the Audit Committee, and one meeting of the General Committee. In addition to regular reports on the Group’s current business and financial position, these meetings dealt in particular with corporate acquisitions, the core elements of the voestalpine Group’s digital transformation, succession planning as well as matters involving raw materials supplies, innovation, and IT. The Audit Committee dealt especially with the preparation and review of the Company’s consolidated and individual financial statements, the preparation of the recommendation regarding the appointment of the auditor as well as topics related to the internal control system, the risk management system, and Internal Auditing.
The auditor, Grant Thornton Unitreu GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, Vienna, Austria, attended all three meetings of the Audit Committee and was available for questions and discussions.
At the last meeting of the business year, the Supervisory Board also carried out the self-evaluation stipulated under Rule 36 of the Corporate Governance Code and, after asking the Management Board to leave the room, used a list of questions to deal with the general cooperation between Management Board and Supervisory Board, the quality and scope of the documents made available to the Supervisory Board as well as organizational issues.