Auditors

Ernst & Young AG, Bern, Switzerland, have been the Galenica Group’s auditors since 2017. The leading auditor, Roland Ruprecht, certified accountant and partner at Ernst & Young, was in charge of the audit for the business years 2017 to 2020. His successor, Daniel Zaugg, certified accountant and partner at Ernst & Young, has been the leading auditor since the business year 2021. The fees paid to the Group’s auditors, Ernst & Young, in 2021 for their audit of Galenica and its subsidiaries totalled CHF 790,000.

The fees paid to Ernst & Young and their close collaborators for other services rendered to Galenica and its subsidiaries in the period under review amounted to CHF 99,000 for additional advice in audit matters and CHF 282,000 for transaction advice.

In 2021, the auditors attended two meetings of the Audit and Risk Committee. The auditors presented their report to the Board of Directors at the meeting of 2 March 2022.

The auditors are regularly informed of new projects. Their activities are reviewed at least once a year by the Audit and Risk Committee. The criteria that are of particular importance in these reviews are: competence in reporting, understanding of the structure of the Group, quality of reporting, compliance with deadlines, independence, and costs. The auditors have direct access to the chair of the Audit and Risk Committee regarding the discussion of relevant issues.