Annual Report 2022

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29. Auditor’s Fees

Since fiscal 2018, KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany) (KPMG AG), has been the elected statutory auditor of Covestro AG and the Covestro Group. Dr. Kathryn Ackermann has been the auditor primarily responsible for carrying out the audit of the consolidated financial statements since April 21, 2022. Dr. Kathryn Ackermann and Marc Ufer were responsible for carrying out the 2022 audit of the consolidated financial statements. Dr. Kathryn Ackermann first signed the Independent Auditor’s Report on December 31, 2022.

The following fees were recognized as expenses in the given fiscal year for the services provided by KPMG AG:

Auditor's fees

 

 

 

 

 

 

 

2021

 

2022

 

 

€ million

 

€ million

Audit services

 

3.8

 

3.3

Other assurance services

 

0.2

 

0.3

Tax advisory services

 

0.2

 

Other services

 

0.2

 

0.3

Total

 

4.4

 

3.9

The fees for audit services for fiscal 2022 mainly comprise those for the statutory audit of the consolidated financial statements of the Covestro Group, the review of the Covestro Group’s interim report for the period ended June 30, 2022, and the audit of the financial statements of Covestro AG and its subsidiaries in Germany, including audits relating to the German Energy Industry Act (EnWG) and similar standards.

The fees for other assurance services in fiscal year 2022 include, in particular, the audit of sustainability information and special energy industry audits. Other services primarily consist of fees for IT security audits and other consulting services.

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