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3. Corporate Governance Statement

3.10 External audit

3.10 External audit

The General Meeting held on April 26, 2018 renewed the mandate of PwC Bedrijfsrevisoren BV CVBA/Reviseurs d’Entreprises SC SCRL as external statutory auditor for UCB for the legal term of 3 years. The permanent representative designated by PwC for UCB in Belgium is Mr. Romain Seffer.

PwC has been appointed as external statutory auditor in nearly all affiliates of the UCB Group worldwide.

The 2020 fees paid by UCB to its External Auditors amounted to:

 

Audit

Other attestation missions

Tax services

Other missions external to the audit

Total

PwC (Belgium-statutory auditor)

€ 769 635

€ 128 905

 

€ 164 826

€ 1 063 366

PwC other related networks

€ 1 532 444

€ 13 953

€ 88 216

€ 183 527

€ 1 818 140

Total

€ 2 302 079

€ 142 858 

€ 88 216

€ 348 353

€ 2 881 506

The mandate of PwC will end at the AGM 2021. By application of the European and Belgian mandatory rotation rules applicable to external auditors, PwC is no longer eligible for re-election as an external Statutory Auditor. As a result, in order to be compliant with the independence rules applicable to the appointment of a new external statutory auditor and in accordance with the applicable European (Regulation (EU) No 537/2014 of the European Parliament and of the Council of April 16, 2014 on specific requirements regarding statutory audit of public-interest entities) and Belgian legislation (including the relevant provisions of the BCCA), commencing in 2018 UCB conducted a process to select a new external Statutory Auditor for the audit mandate commencing with the financial year 2021. The Audit Committee was overall responsible for the selection procedure and make sure it is conducted in a fair manner. For this purpose, and as per the applicable regulation, a Request for Proposal (RFP) tender process was followed under the supervision of the Audit Committee. Procedures were also put in place to preserve the independence of the selected candidates during the 2 years preceding their formal appointment, as per the applicable independence rules. As a result of this comprehensive process, the audit firm Mazars Bedrijfsrevisoren - Réviseurs d’Entreprises CVBA/SCRL, represented by Mr Anton Nuttens (“Mazars”) was selected as the most suitable candidate. Upon recommendation of its Audit Committee and approval by the company’s works council, the Board will therefore propose the appointment of Mazars as its statutory auditor for a mandate of 3 years (legal term) at the AGM of April 29, 2021.