The Chairman of the Board of Directors of Swiss Post Ltd, Urs Schwaller, has appointed the renowned auditor Stephan Bachmann as the third expert on the independent panel. Among other things, Bachmann has been a long-standing member of both the Board of Directors and the Executive Board at PricewaterhouseCoopers (PwC). The panel of experts are tasked with guaranteeing the independence of the external enquiry.
In order to ensure the independence of the enquiry into irregular accounting practices at PostBus Ltd, Urs Schwaller appointed an independent panel of experts in March. The panel currently comprises law professors Andreas Donatsch and Felix Uhlmann after Kurt Grüter withdrew. The Chairman of the Board of Directors, Urs Schwaller, has now chosen Stephan Bachmann as the third expert on the panel. Bachmann is a renowned auditor: he worked at PricewaterhouseCoopers (including PwC’s predecessor companies) for 37 years. As a Member of the Executive Board, one of his areas of responsibility was the auditing unit. After standing down at PwC, he was a Member of the Board of Directors at the Banque Cantonale Vaudoise and the Swiss National Bank, and he also headed the Audit Committee at the Swiss National Bank. Stephan Bachmann brings his many years of experience in accounting and auditing to the group of experts. The panel will be chaired by Prof. Andreas Donatsch.
The three experts carefully supervise and evaluate the external enquiry being conducted by the law firm Kellerhals Carrard and auditors from Ernst & Young. They shall therefore guarantee the independence of the enquiry. Urs Schwaller expects preliminary results before the end of June 2018.
Composition of the expert panel
- Stephan Bachmann; long-standing member of the Executive Board and Board of Directors at PwC and its predecessor companies. Head of auditing. He has profound knowledge of accounting and auditing.
- Prof. Andreas Donatsch; emeritus professor of criminal law and criminal procedural law at the University of Zurich who has in-depth knowledge of commercial law and compliance issues. Consultant at the law firm Umbricht.
- Prof. Felix Uhlmann; a professor of constitutional and administrative law at the University of Zurich who has extensive knowledge of public law. Consultant at the law firm Wenger Plattner.
Source: Swiss Post