KPMG LTD., Zurich, act as the statutory auditors of Barry Callebaut AG, Zurich, and as the group auditors of the consolidated financial statements since fiscal year 2005/06. The statutory auditors and the group auditors are appointed by the General Meeting for a one-year term of office. The auditor in charge of KPMG 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. For tax and other advisory services KPMG received a total of CHF 0.5 million. No internal audit or other services were rendered by KPMG during the period under review.
The Audit, Finance, Risk, Quality & Compliance Committee assists the Board of Directors in fulfilling its oversight responsibility of the external auditors. The specific steps involved in carrying out this responsibility include recommending the external auditors, reviewing their qualifications and independence, approving the audit fees, overseeing the external audit coverage, specifying how the external auditors report to the Board and/or the Audit Committee, assessing additional “non-audit” services, reviewing accounting policies and policy decisions, and reviewing the annual financial statements and related footnotes.
The external auditors attended one meeting of the Audit, Finance, Risk, Quality & Compliance Committee in the fiscal year 2006/07.
