5.4 Statutory Auditors
Duration of Mandate and Term of Office of the Lead Auditor
Ernst & Young AG (EY), Maagplatz 1, Zurich (Switzerland) has served as the auditor of the Group and the statutory auditor of BELIMO Holding AG since 2023. The statutory auditors are elected by the Annual General Meeting for one financial year. The lead auditor in charge since 2023 is Marco Casal. The rotation rhythm for the lead auditor corresponds to a maximum term of seven years in accordance with the legal requirements.
Audit Fees and Additional Fee
EY invoiced a total of CHF 0.50 million to Belimo in 2023 for services related to the audit of the financial statements of BELIMO Holding AG, the Group, and the Group companies audited by it. CHF 0.01 million additional fees were paid in 2023 to EY for other services, e.g. consulting and tax advice.
Information Instruments of External Auditors
Each year, at least one Audit Committee meeting takes place with the external auditors being present, at which the annual financial statements are discussed in addition to other matters. The comprehensive audit report from the external auditors forms the basis for the discussion of the audit proceedings and the annual financial statements. In the year under review, two meetings took place with the external auditors.