5.4 Statutory Auditors
Duration of Mandate and Term of Office of the Lead Auditor
KPMG AG, Badenerstrasse 172, Zurich (Switzerland) has served as the auditor of the Group and the statutory auditor of BELIMO Holding AG since 2004. The statutory auditors are elected by the Annual General Meeting for one financial year. The auditor in charge since 2019 is Reto Benz. The rotation rhythm for the lead auditor corresponds to a maximum term of seven years in accordance with the legal requirement.
Audit Fees and Additional Fee
KPMG invoiced a total of CHF 0.45 million to Belimo in 2022 for services related to the audit of the financial statements of BELIMO Holding AG, the Group and the Group companies audited by it. CHF 0.05 million additional fees were paid in 2022 to KPMG for other services such as consulting and tax advice.
Information Instruments of External Auditors
Each year, at least one Audit Committee meeting takes place, at which the annual financial statements are discussed in addition to other matters. The comprehensive audit report from the statutory auditors forms the basis for the discussion of the audit proceedings and the annual financial statements. Two meetings took place in the year under review. In each case, the statutory auditors supplied the participants with written points for discussion beforehand.