Auditors
Duration of the mandate and term of office of the lead auditor
At the Annual General Meeting on June 11, 2024 Ernst & Young AG, Zürich, was re-elected as auditor for Sonova Holding AG and the Sonova Group for the 2024/25 financial year. Ernst & Young AG, Zürich, was first elected at the Annual General Shareholdersʼ Meeting on June 11, 2020. Martin Mattes has served as lead auditor for the auditing mandate since then.
Fees
The auditors charged the following fees during the 2024/25 and the 2023/24 financial year:
Ernst & Young | Ernst & Young | |||
1,000 CHF | 2024/25 | 2023/24 | ||
Audit services | 3,122 | 2,968 | ||
Audit-related services | 255 | 259 | ||
Other non-audit services | 201 | 187 | ||
Total | 3,578 | 3,414 |
Audit services are defined as the standard audit work performed each year to issue an audit opinion on the parent company and consolidated financial statements of the Sonova Group, as well as opinions on the local statutory financial accounts or statements. Also included is extra work within the audit that can only be provided by the Sonova Group auditor, such as auditing of non-recurring transactions or the implementation of new accounting policies, as well as consents and comfort letters in relation to regulatory filings.
Audit-related services consist of support for the audit, such as providing advice on new accounting rules; this could be provided by sources other than the auditor who signs the audit report.
The values of audit, audit-related, tax, and non-audit services are in line with ratios suggested by commonly applied good practice standards that relate to the independence of auditors. A formal policy issued by the Audit Committee is in place that regulates all non-audit assignments of the auditors.
Informational instruments pertaining to the external audit
The external auditors report their findings semi-annually directly to the Audit Committee of the Board of Directors. In the 2024/25 financial year, the external auditors attended three out of four Audit Committee meetings physically or by telephone conference. The Audit Committee of the Board of Directors reviews the performance, compensation, and independence of the external auditors on a regular basis. The Audit Committee reports its findings to the Board of Directors on a quarterly basis.