Corporate Governance


Mandate: Ernst & Young Ltd have been auditors for Vetropack Holding Ltd since 1995. The head auditor has been responsible for the auditing mandate since 2020. The head auditor is changed every seven years.

Fees: Ernst & Young Ltd invoiced Vetropack Group CHF 0.6 million in the reporting year for auditing the individual financial statements and the consolidated financial statements, along with CHF 0.1 million for other services. In 2021, all affiliates of the Vetropack Group were audited by Ernst & Young Ltd.

Supervisory and Control Instruments vis-à-vis the External Auditors: At the ordinary November meeting, the entire BoD reviews the scope and key aspects of the external audit, including key aspects for auditing the internal control system of the current year. At the ordinary March meeting all BoD members are informed of audit results both in writing (Auditor’s Report, Group Auditor’s Report, Management Letter, Explanatory Notes) and verbally (the lead auditor attends the BoD’s meeting). In February, the main points and results of audits carried out at subsidiaries are also discussed with auditors at the ordinary meetings of the governing body of each subsidiary. The president of the BoD is present at these meetings. With the help of the above-mentioned information sources, the BoD annually assesses both the statutory auditors’ and group auditors’ performance and independence during the March meeting. The BoD annually analyses the development of external audit costs (multiple year comparison).