5.4 Statutory Auditors
Duration of Mandate and Term of Office of the Lead Auditor
Ernst & Young AG (EY), located at Maagplatz 1 in Zurich (Switzerland) has served as the Group's auditor and the statutory auditor of BELIMO Holding AG since 2023. The statutory auditors are elected by the Annual General Meeting for a one-year term. Marco Casal has been the lead auditor since 2023. According to legal requirements, the lead auditor's rotation is limited to a maximum term of seven years.
Audit Fees and Additional Fee
Ernst & Young invoiced Belimo a total of CHF 0.70 million in 2024 for auditing the financial statements of BELIMO Holding AG, the Group, and its audited subsidiaries. An additional CHF 0.01 million was paid to Ernst & Young in 2024 for other services, such as consulting and tax advice.
Information Instruments of External Auditors
Each year, the Audit Committee holds at least one meeting with the statutory auditors to discuss the annual financial statements and other matters. The comprehensive audit report serves as the basis for discussing the audit proceedings and the annual financial statements. In the year under review, two meetings were held with the external auditors.