Duration of mandate and term of office of Head Auditor
The Group accounts and the consolidated financial statements of Bellevue Group AG and its subsidiaries are audited by PricewaterhouseCoopers (PwC). The statutory auditor of Bellevue Group AG is elected for a one-year period at the general meeting of shareholders. PwC was elected for the first time for the 1999 fi scal year. The auditor in charge is Thomas Romer. He has exercised this function since the 2008 fiscal year. The holder of this office changes every seven years, in accordance with Swiss banking law. Thomas Romer has also served as statutory auditor since the 2008 fiscal year.
Fees paid to auditor
| CHF 1'000 | 01.01.-31.12.2010 | 01.01.-31.12.2009 |
Auditing fees billed by PwC |
370 |
425 |
| Additional fees billed by PwC for audit-related services | 29 | 125 |
The additional fees primarily concern services in connection with projects and audit-related services regarding international accounting as well as legal or regulatory issues. These services provided by the auditor are compatible with its auditing duties as external auditor.
Instruments for supervising and monitoring the auditors
The Board of Directors is responsible for the supervision and control of the statutory auditor and the Group auditor and it is supported in this function by the Audit Committee (AC). The Audit Committee receives and evaluates reports from representatives of the external auditors on a regular basis. It confers regularly with the Head Auditor about the effectiveness of the internal control systems taking into consideration Bellevue Group’s risk profile. In addition, the AC reviews the scope of the auditing work, the quality of the work performed and the independence of the external auditors. The external auditors have direct access to the AC at all times.