KPMG AG, Badenerstrasse 172, 8026 Zurich, Switzerland, has acted as the statutory auditor of EMSCHEMIE HOLDING AG since 2004. The statutory auditor is appointed by the Annual General Meeting for a one-year term of office. François Rouiller has been the lead auditor since 2011. The person, leading the revision, is allowed to execute the mandate for seven years at the longest (art. 730a par. 2 CO).
The EMS Group paid KPMG a global total of approximately CHF 420,000 for services relating to the audit of the Group’s annual financial statements. The net sales revenue audited by KPMG accounts for approximately 65 % of the EMS Group’s total net sales.
KPMG charged a global total of approximately CHF 546,000, comprising CHF 481,000 for tax consultancy services, CHF 10,000 for legal advices and CHF 55,000 for transaction-related advice (including due diligence).
The Audit Committee monitors the independence and performance of the independent statutory auditor on behalf of the Board of Directors and verifies the financial reporting of EMS. It held six meetings during the year under review. The independent statutory auditor was invited to attend two meetings. Senior Management is responsible for financial accounting and continuous financial reporting, including the internal control system. The independent statutory auditor, KPMG AG, is responsible for giving an opinion on whether the accounting records and the annual financial statements comply with Swiss law and the company’s Articles of Association. KPMG AG is responsible for providing an assessment of the consolidated financial statements (income statement, statement of comprehensive income, balance sheet, changes in equity, statement of cash flows and notes), in accordance with the International Financial Reporting Standards (IFRS) published by the Inter national Accounting Standards Board (IASB) and with Swiss law. The Audit Committee is also responsible for monitoring the relevant activities of Senior Management and the independent statutory auditor.