Compliance

The ASH Group distributes a large portion of its products in the environment of public institutions (federal states, cities, municipalities, motorway and airport operators) and therefore pays special attention to always complying with all applicable national and international regulations.

The term compliance stands for compliance with standards, laws and industrial standards as well as any requirements within the scope of self-regulatory measures or in-house directions. In the past business year, the ASH Group examined the existing compliance regulations and processes and adapted them to amended and new statutory requirements, where necessary. Today, the ASH Group exhibits a well-balanced overall system to fulfill the ever more complex issue of compliance.

 

The major elements of compliance are as follows:

  • Code of Conduct – Defines the fundamental values of our employees’ activities.
  • Competence regulations – Defines the competencies within the company.
  • Risk management – The Management Board examines the risks of the ASH Group on behalf of the Board of Directors and defines measures to avoid, limit or pass on the risks. One of the identified risks explicitly deals with compliance risks. A “risk officer” and risk limitation measures were defined for these risks as well; the implementation of the measures is inspected on an annual basis and adapted, where necessary.

  • ICS (Internal Control Systems) – The risks identified by the persons in charge of the processes are examined within the scope of appropriate inspections. The inspections are reviewed by the Management Board on an annual basis and, where necessary, adaptations are requested from the Board of Directors.

  • The process of checking existing and new dealers and agents was supplemented and a Compliance Board was introduced. The dealers and agents must undergo an extensive inspection and sign an agreement amended by the new compliance regulation. The Compliance Board holds meetings as required and decides whether or not any transactions can be effected with the respective dealer or agent.

  • The inspection of customers and the dual-use inspection were tightened, especially in the spare parts business. The export regulations demand compliance and verification that no goods or services are provided to a person or institution prohibited by an official authority from being supplied and whether or not the regulations for goods that can also be used for military purposes are complied with. Last year, the list of affected persons and institutions was constantly extended due to political upheavals. Using the newly introduced processes and computer-based check programs, the inquiries can be carried out efficiently and promptly.

  • The international sales team completed a training conducted by external specialists to further raise awareness of compliance and improve communication.

 

The ASH Group is convinced that the principle of conducting business transactions in a responsible manner and in compliance with the statutory and official regulations of the countries in which we are operating is feasible and that the high compliance requirements will develop to become an integral part of our business model. The ASH Group is making every effort to constantly improve its compliance system in order to be able to respond to the changing requirements in our global business.