Report of the statutory auditor to the General Meeting of Sonova Holding AG
Statutory auditorʼs report on the compensation report
We have audited the compensation report of Sonova Holding AG for the year ended 31 March 2021. The audit was limited to the information according to articles 14–16 of the Ordinance against Excessive Compensation in Stock Exchange Listed Companies (Ordinance) contained in the tables of section 5.1, 5.2, 6.1 and 6.2 excluding tables: 5.1.1 and 5.2.2.
Board of Directorsʼ responsibility
The Board of Directors is responsible for the preparation and overall fair presentation of the compensation report in accordance with Swiss law and the Ordinance. The Board of Directors is also responsible for designing the remuneration system and defining individual remuneration packages.
Our responsibility is to express an opinion on the compensation report. We conducted our audit in accordance with Swiss Auditing Standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the remuneration report complies with Swiss law and articles 14–16 of the Ordinance.
An audit involves performing procedures to obtain audit evidence on the disclosures made in the compensation report with regard to compensation, loans and credits in accordance with articles 14–16 of the Ordinance. The procedures selected depend on the auditorʼs judgment, including the assessment of the risks of material misstatements in the remuneration report, whether due to fraud or error. This audit also includes evaluating the reasonableness of the methods applied to value components of remuneration, as well as assessing the overall presentation of the remuneration report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In our opinion, the compensation report for the year ended 31 March 2021 of Sonova Holding AG complies with Swiss law and articles 14–16 of the Ordinance.
The remuneration report of Sonova Holding AG for the year ended 31 March 2020 was audited by another statutory auditor who expressed an unmodified opinion on that remuneration report on 14 May 2020.
Zurich, 17 May 2021
Ernst & Young Ltd
Licensed audit expert
(Auditor in charge)
Licensed audit expert