Rieter

Statutory and Group auditors

Duration of mandate and term of office of the lead auditor

PricewaterhouseCoopers AG, Zurich (PwC), have been the statutory and group auditors of Rieter Holding Ltd. since 1984. Most of the companies in the Rieter Automotive Systems Division are audited by KPMG. Christian Kessler has officiated as lead auditor for the Rieter mandate at PwC since 2002.

Audit fees and additional fees

PwC, KPMG and other auditors charged the Rieter Group approximately 2.9 million CHF (3.5 million CHF in 2007) for services in connection with auditing the annual financial statements of the group companies and Rieter’s consolidated accounts in the 2008 financial year. PwC, KPMG and other auditors invoiced some 1.3 million CHF (1.9 million CHF in 2007) for additional services. 0.3 million CHF (0.4 million CHF in 2007) of this total were for services closely related to the audit, 0.6 million CHF (1.0 million CHF in 2007) for tax consulting and 0.4 million CHF (0.5 million CHF in 2007) for other services.

Supervisory and monitoring instruments regarding the auditors

The audit committee of the Board of Directors makes an annual assessment of the performance, fees and independence of the statutory and group auditors. It submits a proposal to the Annual General Meeting regarding who should be elected as statutory and group auditors. Further information on auditing can be found in section 3 of the annual report.