Auditor

The auditor of Sika AG is elected by the Annual General Meeting for a respective term of one year. In the year under review Ernst & Young AG, listed as an auditor in the commercial register since February 7, 1995, served in this capacity. In accordance with legal requirements, the auditor in charge is replaced after a maximum period of seven years.

The auditor in charge, Bernadette Koch, has been responsible for the audit mandate since 2010. Bernadette Koch is supported by Pascal Kocher.The auditor participates regularly in the meetings of the Audit Committee, providing oral and written reports of the results of its reviews.

Audit Committee and Fees

The Audit Committee checks and evaluates the auditor and makes recommendations to the Board of Directors. The evaluation of performance and the negotiation of fees are conducted according to internally specified criteria. In 2011 the present auditor took part in two meetings of the Audit Committee.
Ernst & Young AG billed CHF 3.6 million for its services in 2011.

This figure includes the audits of individual closings within Sika AG, practically all subsidiaries and the review of the consolidated financial statements. Ernst & Young AG received additional fees totaling CHF 1.0 million for tax consultancy and CHF 0.5 million for audit-related consulting services.