(1) The management board is to make accessible to the general meeting the documents submitted that have been set out in section 175 (2) as well as, in the case of listed companies, an explanatory report on the information provided under the terms of sections 289a and 315a of the Commercial Code. At the outset of the meeting, the management board as a rule is to explain the documents it has submitted, while the chairperson of the supervisory board as a rule is to explain the report of the supervisory board. In this context, the management board as a rule also is to state its position regarding any shortfall for the year or any loss that substantially has impaired the annual earnings. Sentence 3 is not to be applied to credit institutions or securities institutions.
(2) Where the annual financial statements are to be audited by a statutory auditor, such auditor is to participate in the deliberations regarding the approval and establishment of the annual financial statements. Sentence 1 applies accordingly to the deliberations regarding the endorsement of consolidated financial statements. The statutory auditor is not under obligation to provide any information to a stockholder.