Auditors
The independent audit firm is appointed annually by the Annual Shareholder Meeting following a proposal submitted by the Board of Directors. Re-election is permitted. Ernst & Young AG (EY) has served as Comet’s statutory auditor since fiscal year 2001 and was re-elected by the 2025 Annual Shareholder Meeting for fiscal year 2025. The current lead audit partner, Martin Mattes, has been responsible for the engagement since fiscal year 2021. The rotation cycle for the lead audit partner at EY is seven years. The Board of Directors will propose to the 2026 Annual Shareholder Meeting (which relates to fiscal year 2025) to re-elect Ernst & Young AG (EY) as Comet’s independent auditor for the annual term starting January 1, 2026.
The compensation of EY for services in connection with auditing the consolidated financial statements and as the independent audit firm for all Group companies amounted to CHF 709 thousand (prior year: CHF 685 thousand), including additional billing in the amount of CHF 115 thousand (prior year: CHF 64 thousand). The audit fees are set annually upon discussion with the AC and are based on the audit scope at the individual Group companies, any special in-depth audits and the auditing of protection against specifically identified risks.
In the fiscal year 2025, EY received CHF 0 (2024: CHF 20 thousand) for audit-related consulting services and CHF 14 thousand (2024: CHF 10 thousand) for tax consulting services.
The AC annually reviews the performance, compensation and independence of the audit firm. The AC also examines the scope of the independent audit, reviews action plans developed to resolve any issues identified in the audit and recommends candidate independent auditors to the Board to propose for election by the Annual Shareholder Meeting. The Board has not specified a fixed rotation cycle. In selecting the external auditors, particular importance is attached to independence and documented experience. After the first six months of the year, the AC at its meeting discusses the unaudited half-year results with the independent auditors. In addition, the annual financial statements are planned and the auditing costs for the fiscal year are approved. Additional meetings are held as needed. After the audit of the annual financial statements, the AC convenes for a meeting at which it discusses the audited annual report for the fiscal year with the independent auditors. The audit firm reports its findings on the basis of a comprehensive report to the Board of Directors and through the reports of the independent auditors to the Annual Shareholder Meeting.