Statutory and Group auditors
Duration of mandate and term of office of the auditor in charge
PricewaterhouseCoopers AG, Zurich (PwC), have been the statutory auditors of Rieter Holding Ltd. and the Rieter Group since 1984. Urs Honegger has officiated as auditor in charge of the Rieter mandate at PwC since 2009. The statutory auditors are elected for a term of one year.
Audit fees
PwC and other auditors charged the Rieter Group approximately 0.9 million CHF in the 2011 financial year for services in connection with auditing the annual financial statements of the group companies and Rieter’s consolidated accounts.
Additional fees
Additional consultancy fees invoiced by the statutory auditors in 2011 amounted to 0.5 million CHF. These mainly concerned tax consulting and services in connection with the separation from the Automotive Division (now Autoneum).
Supervisory and monitoring instruments vis-à-vis the auditors
The audit committee of the Board of Directors makes an annual assessment of the performance, fees and independence of the statutory auditors. It submits a proposal to the Annual General Meeting regarding who should be elected as statutory auditors
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