At the Annual General Meeting of Barry Callebaut AG on December 8, 2005, the shareholders voted to appoint KPMG AG, Zurich, as statutory auditors. The statutory auditors are appointed annually by the General Meeting for a one-year term of office. The current auditor in charge has exercised this function since fiscal year 2005/06.
For the past fiscal year, the remuneration for the audit of the accounting records and the financial statements of Barry Callebaut AG, and the audit of the consolidated financial statements, amounted to CHF 2.4 million. This remuneration is evaluated by the AFRQCC in view of the scope and the complexity of the Group. The performance of the auditors is monitored by the AFRQCC, to which they present a detailed report on the result of the audit of the Group. Prior to the presentation to the AFRQCC, the lead auditor reviews the audit findings with the Chairman of the AFRQCC without the presence of any members of the management.
KPMG received a total amount of CHF 0.6 million for additional services, i.e. for transaction and other advisory (incl. due diligence) CHF 0.5 million and for advisory services in connection with the Group’s internal control system CHF 0.1 million. Adequate measures for the avoidance of potential conflicts of interests between the different services provided by kpmg were observed, notably in respect of the advisory services regarding the Group’s internal control system (executed by the KPMG Internal Audit, Risk and Compliance Services team). The internal control system project was monitored by the afrqcc and supervised by the Chairman of the AFRQCC.
