PricewaterhouseCoopers AG is the statutory auditor of Sulzer Ltd and, since 1992, the group auditor of the consolidated financial statements pursuant to art. 731a of the Swiss Code of Obligations. Statutory and group auditors are elected by the annual general meeting for a one-year term of office. Christian Kessler has been acting as the head auditor for the Sulzer mandate since the 2006 annual general meeting.
The audit committee supports the board of directors in the supervision of the company’s accounting and financial reporting. It assesses the internal control procedures, the organization, and efficiency of the internal and external auditors, collaboration, and the results of the audits. The members of the audit committee receive regular summaries of audit findings and improvement proposals. The chief external auditor is invited to attend meetings of the audit committee. To assess the independence of internal and external auditing, the audit committee meets separately with the respective heads of internal and external auditing. All other information on auditors is set out in note 36 on page 51 of the financial section.