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      "text": "In our opinion, the compensation report for the year ended 31 December 2021 of UBS Group AG complies with Swiss law and articles 14 – 16 of the Ordinance.",
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      "text": "We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.",
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      "text": "Auditor’s responsibility\nOur responsibility is to express an opinion on the compensation report. We conducted our audit in accordance with Swiss Auditing Standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the compensation report complies with Swiss law and articles 14 – 16 of the Ordinance.",
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      "text": "We have audited the compensation report dated 4 March 2022 of UBS Group AG for the year ended 31 December 2021. The audit was limited to the information according to articles 14 – 16 of the Ordinance against Excessive Compensation in Stock Exchange Listed Companies (Ordinance) contained in the following tables labeled “audited” of the compensation report: Approved fixed compensation, Total compensation for GEB members, Compensation details and additional information for non-independent BoD members, Total payments to BoD members, Remuneration details and additional information for independent BoD members, Loans granted to GEB members, Loans granted to BoD members and Compensation paid to former BoD and GEB members.",
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      "text": "Opinion\nIn our opinion, the compensation report for the year ended 31 December 2021 of UBS Group AG complies with Swiss law and articles 14 – 16 of the Ordinance.",
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      "text": "An audit involves performing procedures to obtain audit evidence on the disclosures made in the compensation report with regard to compensation, loans and credits in accordance with articles 14 – 16 of the Ordinance. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatements in the compensation report, whether due to fraud or error. This audit also includes evaluating the reasonableness of the methods applied to value components of compensation, as well as assessing the overall presentation of the compensation report.",
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      "text": "Board of Directors’ responsibility\nThe Board of Directors is responsible for the preparation and overall fair presentation of the compensation report in accordance with Swiss law and the Ordinance. The Board of Directors is also responsible for designing the compensation system and defining individual compensation packages.",
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