Auditing financial statements and opting out

Published on Sep 23, 2013

The main objective when auditing financial statements is to determine if the books agree with the financial statements and are in accordance with the law. This task is carried out by an auditor (Swiss auditor, physical person, company or a partnership) which is elected by the general ...

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Swiss accounting - practical aspects

Published on Jul 3, 2011

The principles of Swiss accounting valuation are outlined in articles 664 through 670 of the Swiss Code of Obligations The assets must be evaluated at the purchase price or the cost price, minus the necessary depreciation. They should in any case be evaluated at their net asset value because ...

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Loss of capital and insolvency

Published on Jun 30, 2011

This situation is referenced in article 725a paragraph 1 of the Swiss Code of Obligations A loss of capital occurs when it is discovered in the most recent annual balance sheet that half of the capital and mandatory reserves are not covered. In this case the Board of Administrators must ...

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Swiss audit: limited vs. ordinary

Published on Jun 27, 2011

LPG Geneva, Swiss Fiduciaire, offers clients auditing services, either on its own or in partnership with other renowned Geneva firms. Most Swiss companies (with the exception of partnerships) including foundations must undergo a yearly audit of their financial statements. Swiss SA, SARL and ...

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Swiss holding company: Consolidating financial statements

Published on Jun 20, 2011

Every Swiss holding company must establish consolidated accounts according to the Swiss Code of Obligations. Consolidation means aggregating annual reports from the different companies which make up the group to obtain a single annual report describing the situation of the group. In terms of ...

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Swiss accounting requirements

Published on Oct 20, 2010

All Swiss companies must register at the Swiss trade registry and have their accounting in order according to Swiss GAAP prepared by a Swiss accountant or Swiss CPA. There is no official chart of accounts in Switzerland. Certain industries nonetheless are governed by Swiss accounting ...

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