Board of Control
Based on the proposal of the Board of Directors, the Assembly of Delegates elects an independent auditing company as the external Board of Control. The Board of Control is appointed for a term of office of two years, and may be reappointed.
PricewaterhouseCoopers AG has been confirmed as both FMC Board of Control and group auditor until 30 June 2016. The company has been auditing the annual financial statements of the FMC and the Migros Group accounts since 1 July 2000 (previously Swiss Trust Company – Coopers Lybrand AG). The Chief Auditor, Rodolfo Gerber, certified public accountant, took up his post in the 2013 financial year.
Certain audits of the Migros Group accounts are carried out by Mitreva Treuhand und Revision AG, working in close cooperation with PricewaterhouseCoopers AG.
Auditing & Other Fees
For services across the group related to the auditing of the 2013/2014 annual financial statements, and for other services performed in 2013/2014 in the areas of company evaluations, tax consultancy, accounting and due diligence audits, PricewaterhouseCoopers AG and Mitreva Treuhand und Revision AG invoiced the following:
Auditing & other fees
| Auditing services | Other services | Total | ||||
|---|---|---|---|---|---|---|
| In 1’000 CHF | 2013 1 | 2014 | 2013 1 | 2014 | 2013 1 | 2014 |
| PricewaterhouseCoopers AG | ||||||
| Federation of Migros Cooperatives and other group companies | 2‘864 | 2‘645 | 850 | 616 | 3‘714 | 3‘261 |
| Mitreva Treuhand und Revision AG | ||||||
| Migros Cooperative Aare, Migros Cooperative Basel, Migros Cooperative Lucerne, Migros Cooperative Ticino, Migros Cooperative Geneva, Migros Cooperative Neuchâtel/Fribourg, Migros Cooperative Valais, Estavayer Lait SA, Mifroma SA, Aproz Sources Minérales SA | 2‘947 | 1‘651 | 129 | 56 | 3‘076 | 1‘707 |
1 Values of previous year adjusted
The internal audits of the group companies make an important contribution towards the auditing of the financial statements each year.