Financial reporting and audit of the Financial Statements
Since fiscal year 2001, the financial reporting of HUGO BOSS AG has been prepared in accordance with International Financial Reporting Standards (IFRS). The Audit Committee set up by the Supervisory Board regularly monitors the financial reporting process and the audit of the financial statements. The audit has been performed by Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart, since fiscal year 2012. Mr. Martin Matischiok has signed the auditors’ report since December 31, 2012 and Ms. Lea Biller since December 31, 2014. It was agreed with the auditors with respect to the reporting year that the chair of the Audit Committee would be informed without delay during the audit of any grounds for disqualification or partiality that could not be immediately rectified. It was agreed for the reporting year with the external auditor that the chairman of the Audit Committee must be informed without delay of any grounds for disqualification or factors affecting impartiality that arise during the audit, unless they are remedied immediately. It was also agreed that the external auditor is obliged to report on any findings or events arising during the performance of the audit that are of importance to the duties of the Supervisory Board. In addition, it was agreed that the external auditor must inform the Supervisory Board and indicate in its audit report if findings are made during the audit that are in contravention of the declaration of compliance made by the Managing Board and Supervisory Board pursuant to Sec. 161 AktG [“Aktiengesetz”:German Stock Corporation Act]. The Supervisory Board also obtained a declaration of independence from the external auditor in accordance with No. 7.2.1 of the German Corporate Governance Code and verified the independence of the external auditor; the declaration also encompassed the engagement of the external auditor for non-audit services.