Audit

Auditors

Both external and internal auditors play a key role in providing an independent assessment of theBank’s operations and internal controls.8
External audit
KPMG AG, Zurich, was mandated as a statutory auditor for the financial year 2017.. Reto Gareus is
the responsible partner leading the audit activities. He holds this function since 2017. Audit work
includes financial and regulatory audits, as well as other assurance services that can be provided by
the statutory auditor.
Internal audit
The Internal Audit is an independent, professional auditing and supervisory body of the Bank, which
works independently from the daily business processes. It reports directly to the Chairman of the
Audit Committee at least quarterly on results of the audits carried out, deficiencies identified and any
weaknesses in the internal control system. All findings and issues are communicated to the
management and to the BoD. To ensure independence and access to a wide pool of expertise the
Board has appointed Ernst & Young as internal auditor of the Bank.