Audit Committee

Audit Committee is established by the Board of Directors. The primary responsibility of the Audit Committee is to assist the Board in fulfilling its oversight role by performing the following functions:

  • monitoring and assessing the integrity of the financial statements as well as disclosures of the financial condition, results of operations and cash flows;
  • monitoring processes designed to ensure an appropriate internal control system, including compliance with legal and regulatory requirements;
  • monitoring the qualifications, independence and performance of the external auditors and of Internal Audit;
  • monitoring the adequacy of financial reporting processes and systems of internal accounting and financial controls;

The Audit Committee comprises of three members of the BoD. As of 21 July 2018, the Audit Committee is chaired by Mr. Albert Schönenberger who is assisted by  Mr. Urs Kloeti und Mr. Denis Kamyshev. The Audit Committee has its own Charter which has been approved by the Board. The meetings are attended by management representatives as appropriate and senior representatives of the external and internal auditors. The Committee itself does not perform audits.