In line with Section 107 (3) Sentence 2 of the German Stock Corporations Act (AktG), the Audit Committee comprises three Supervisory Board members from the shareholders and three from the employees. The Audit committee works in particular on accounting issues, risk management and compliance, as well as the efficacy of internal control systems and internal auditing systems, the requisite independence of the CPA performing the final audit, awarding the contract to the CPA of choice, stipulation of focal areas for the audit, and agreement on payment. The Audit Committee discusses the six-monthly and quarterly financial reporting with the Executive Board prior to publication, unless this discussion is held with the Supervisory Board as a whole. The Chair should, in line with the provisions of the Corporate Governance Code, have knowledge and experience in applying accounting principles and internal control procedures. He should be independent and not have completed a term on the company's Executive Board within the previous two years.