LLB Group Enhances Audit Compliance with New Partnership

Strategic Shift in Auditing Partnership

The LLB Group, a leading financial institution in Liechtenstein, has made a significant change in its auditing partnership. After over twenty years of collaboration with PricewaterhouseCoopers AG, St. Gallen, the company has appointed KPMG Liechtenstein AG as its new independent auditors.

New Auditing Partnership

• The decision was made by the General Meeting of Shareholders on May 7, 2021.
• Philipp Rickert has been appointed as the responsible auditor in charge since 2021 and will serve for a period of one year.

Audit Fees and Governance Structure

According to the LLB Group’s annual report, KPMG invoiced the company CHF 1'027 (CHF 1'301 in 2020) in audit fees. The Group Audit Committee oversees these fees and ensures that they are reasonable and justified. The committee is responsible for:

• Monitoring the activities of both internal and external auditors.
• Evaluating their independence, objectivity, and performance.
• Reviewing the compatibility of external auditors’ auditing activities with possible consulting mandates.
• Assessing their professional fees.

Commitment to Audit Compliance

The LLB Group has emphasized its commitment to maintaining high standards of audit compliance and ensuring that its financial reporting is accurate and reliable. The company has implemented a robust governance structure to oversee its auditing process and ensure that it adheres to all applicable laws and regulations.

Enhancing Transparency and Accountability

The new partnership with KPMG Liechtenstein AG marks an important milestone in the LLB Group’s efforts to enhance its audit compliance and maintain transparency and accountability in its financial reporting.