103 GROUP MANAGEMENT REPORT COMPANY ON THE MOVE REPORT OF THE BOARD OF MANAGEMENT CORPORATE RESPONSIBILITY CONSOLIDATED FINANCIAL STATEMENTS OPPORTUNITIES AND RISK REPORT 5 OPPORTUNITIES AND RISK REPORT Within the network of RHÖN-KLINIKUM AG, we regard managing risks and opportunities and controlling the same on a sustainable basis as a core corporate task firmly enshrined in our management culture. Our value-oriented corporate strategy is also designed to protect the Com- pany's resources from risks of substantial losses and to identify new opportunities whilst safeguarding the inter- ests of our shareholders and other capital market partici- pants. Our implemented risk management system fully meets the statutory requirements for early detection of risks posing a threat to the Company's existence: Our corporate activity is inseparably bound up with risks and opportunities, as only companies that recognise their material risks in time and take steps to systematically counter the same are also able to exploit in an entrepre- neurially responsible manner the opportunities arising for them. Particularly our patients rely on us to adequately manage opportunities and risks. As a provider of health- care services, we always regard the risk posed to the life and health of our patients as the greatest risk, since in the medical and nursing areas even the smallest mistakes can have devastating consequences. For this reason, measures designed to avoid such risks are given top priority. This involves continuously weighing up opportunities against the risks. 5.1 RISK REPORT 5.1.1 Risk management system The Board of Management of RHÖN-KLINIKUM AG has implemented a Group-wide risk management system whose objective is to detect imminent risks early on and to specifically counter the same in a systematic process. The risk management function implemented within com- pany headquarters has the task of further developing the risk management system continuously along the lines of best practice while adjusting it to new insights and re- quirements as necessary. The risk management function also allows the reporting of opportunities. Our risk man- agement system is based on a Group risk guideline as well as further explanatory documents. The Group risk guideline describes both the principles of risk manage- ment and the requirements for the risk management pro- cess that is uniformly binding on the Group as a whole and the corresponding duties and responsibilities. The actual risk management process is documented using a software solution specially purchased for this purpose. By regularly reviewing, evaluating and adjusting our risk management system to constantly changing framework conditions, we secure its acceptance within the Company. The Internal Auditing department is entrusted by the Board of Management with the process-dependent re- view of matters on an event-driven basis. In this connec- tion, it also monitors the operability and correct applica- tion of risk management requirements in sub-divisions or companies of RHÖN-KLINIKUM AG. Principles of our risk management Everyone is responsible Every employee has a personal duty to actively prevent harm or damage to our patients, our business partners and the Company. Not all risks can be prevented, but each one can be managed Risks cannot always be prevented, but can be managed through early identification. Means of risk management are risk prevention, risk reduction, risk transfer and risk acceptance. Risks are systematically assessed and docu- mented so as to ensure efficient risk management and enable conclusions to be drawn for the overall risk posi- tion. In this context, risks posed to life and health have always been regarded by us as a high risk, as well as our greatest risk. Risk management ­ we want to get better and better Preventatively defined procedures, clearly defined struc- tures and a sense of responsibility of each individual form the basis of our risk management. To optimise processes on a regular basis and to review compliance with the re- quirements, each company within the Group must review and assess its risks on an ongoing basis, adjusting to changed conditions. As before, any acute risks that might pose a risk to the company's existence must be reported directly and as quickly as possible to the chairman of the Board of Management. Our risk management process Risk management comprises numerous processes by which risks potentially posing a risk to the realisation of the Company's targets and opportunities can be identi- fied, assessed and managed. The risk management
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