Marcel Peter

Member Board of Directors @Allianz

Munich, DE

Management OversightPosition: As a diversified and qualified board member, I stand to represent the interests of shareowners and I am best qualified to oversee and consider management actions and decisions.Rationale: As a qualified board member, I am able to balance the need to let management formulate business plans, enter into transactions and contracts on behalf of the company, and make relevant decisions.Management’s Responsibility for Third Parties Position: As a board member, I must hold management accountable when it directs outside parties to manipulate their inventory, alter records, or take other actions designed to mislead the company’s independent auditors.Rationale: As a qualified board member, I must hold management responsible for such actions because:The conveyance or withholding of information that intentionally skews the mix of information provided the auditors subverts the audit process and ultimately results in misleading financial statements.While management may not be able to control the actions of individuals who are not employees, they should be held accountable for encouraging such individuals to mislead auditors. Internal Control ReviewPosition: As a member of the Board of Directors, we are to regularly conduct reviews of the effectiveness of the company’s or group’s internal controls systems.Rationale: Hence; regular reviews performed on the board\'s behalf by independent third parties will focus board members’ attention on the issue and adequacy of internal controls.