Switzerland
Methodology
Last updated: 08/2015
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Member Organizations
Member Associate
Legal and Regulatory Environment
The Swiss Code of Obligations (Swiss CO) establishes the statutory framework for accounting and auditing in Switzerland. Accounting and Financial ReportingAll entities that are not private partnerships or private...
While there appear to be several qualifications for professional accountants in Switzerland, only auditors are regulated. The two auditor designations in Switzerland are Licensed Audit Expert and Licensed Auditor...
The Federal Act on the Licensing and Oversight of Auditors (AOA) of 16 December 2005 regulates the licensing and oversight of individuals and firms providing statutory audit services. It aims at assuring the proper...
The Swiss Expert Association for Audit, Tax and Fiduciary (EXPERTsuisse) is the professional accountancy organization and IFAC member in Switzerland. EXPERTsuisse is also a member of the Federation of European...
There are no reported major projects or other initiatives underway...
Adoption of International Standards
The Federal Act on the Licensing and Oversight of Auditors of December 2005 established the requirement for mandatory quality assurance (QA) reviews for audits of financial statements of public companies and financial...
The Federal Act on the Licensing and Oversight of Auditors of December 2005 sets initial professional development (IPD) and continuing professional development (CPD) requirements for Licensed Audit Experts and Licensed...
Under the Federal Act on the Licensing and Oversight of Auditors of December 2005, the Federal Audit Oversight Authority is responsible for setting auditing standards for public companies. Under the Ordinance of the...
The law or regulation that sets ethical requirements in the jurisdiction or requires the adoption of the IESBA Code of Ethics for Professional Accountants is unclear. Although the Swiss Expert Association for Audit, Tax...
The law or regulation, if any, that defines public sector accounting standards is unclear.The Swiss Federal Finance Administration (FFA) is responsible for adopting public sector accounting standards for the federal...
The Federal Audit Oversight Authority (FAOA) regulates Licensed Audit Experts, Licensed Auditors, and firms that audit public companies. The Federal Act on the Licensing and Oversight of Auditors of December 2005...
Statutory separate company financial statements must be prepared in accordance with the recognized financial reporting standards as prescribed by the Swiss Code of Obligations. The following accountancy frameworks are...
Relevant OrganizationsSwiss Expert Association for Audit, Tax and Fiduciary (EXPERTsuisse)Federal Audit Oversight Authority (FAOA) of SwitzerlandSwiss GAAP FER FoundationRelevant LegislationSwiss Code of...
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