“We take these matters very seriously and see this resolution as an important step forward for our company,” Kai-Stefan Linnenkohl, president and member of the IAV management board, said in a statement. “The misconduct identified does not reflect who we are as a company today. We are committed to a culture of compliance and accountability at IAV and to serving as a reliable partner for our customers and the automotive industry.”
The agreement notes that IAV played a minor role in the offense and that the company has already taken steps to enhance its compliance programs and internal controls.
Linnenkohl added, “We strongly believe that having comprehensive compliance and risk management systems in place will be increasingly important as the automotive industry becomes more fast-paced with new technologies, regulations, and consumer expectations. Our goal at IAV is to ensure we are equipped to respond quickly and with good judgment to industry needs, while fully understanding the regulatory, legal, and ethical implications of evolving technologies and trends.”