8.1. Duration of the mandate and term of the chief auditor
The Annual General Meeting elects the auditors for terms of one year each. KPMG Ltd, Lucerne, was re-elected as the auditor of HOCHDORF Holding Ltd until the Annual General Meeting in 2022. It has acted as statutory auditor since 2020. The Chief Auditor is Thomas Affolter.
8.2. Audit fee
Calculated on an accrual basis, the expenses of the auditor KPMG Ltd for the audit of the individual financial statements and the consolidated financial statements for 2021 amounted to approximately TCHF 230.
8.3. Additional fees
In the reporting year, no additional fees were incurred by KPMG Ltd for consulting services.
8.4. Instruments for supervising and controlling the audit
The Audit Committee of the Board of Directors assesses the performance, invoicing and independence of the external auditors and makes recommendations to the Board of Directors. Every year, the Audit Committee checks the scope of the external audits, the audit plans and the relevant processes and discusses the audit results with the external auditors. In 2021, the chief auditor attended three meetings of the Audit Committee.