Group and statutory auditors

Deloitte SA was first appointed as Group and statutory auditor of Givaudan SA and its affiliates at the Annual General Meeting of shareholders on 26 March 2009, and has held the audit mandate since that time.

The Audit Committee and the Board reconsider on an annual basis whether the statutory auditors should be proposed for re-election to the shareholders’ meeting.

The rotation of the lead auditor follows the legally required maximum duration of seven years in accordance with the art. 730a para. 2 of the Swiss Code of Obligations.

The Audit Committee meets the external auditor at least four times per year, including private sessions without the presence of management. For each meeting the external auditors prepare a report in which they comment on their activities and are available for particular questions raised by the Audit Committee. In addition, the Board of Directors meets with the external auditor as well at least once per year.

The Audit Committee conducts an assessment of the audit services provided by Deloitte during its regular meetings to evaluate the performance of Deloitte as external auditors.