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Basics of The Swiss Audit Options Model

The document outlines the Swiss Audit Options Model, which provides companies with different levels of auditing based on their size. Under the model, an ordinary audit is required for large publicly owned companies, while smaller companies can opt for a limited audit or no audit. A limited audit has less stringent requirements than an ordinary audit and applies to companies that meet thresholds for total assets, sales, or employee numbers. Companies not meeting the thresholds can opt out of any audit requirements.

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Charielle Esthelin Bacugan
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128 views1 page

Basics of The Swiss Audit Options Model

The document outlines the Swiss Audit Options Model, which provides companies with different levels of auditing based on their size. Under the model, an ordinary audit is required for large publicly owned companies, while smaller companies can opt for a limited audit or no audit. A limited audit has less stringent requirements than an ordinary audit and applies to companies that meet thresholds for total assets, sales, or employee numbers. Companies not meeting the thresholds can opt out of any audit requirements.

Uploaded by

Charielle Esthelin Bacugan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Relevant legislation

Basics of the Swiss Audit Options Model Size criteria: Articles 727 and 727a CO
Independence requirements: Article 728 CO
Duties of the auditor: Article 728a CO
Ordinary audit: 728 CO
Limited audit: 1729 CO

Ordinary audit

Opting up: Voluntary choice


to undergo an ordinary audit

Limited audit

Opting in: Voluntary choice


Opting-out/Opting-down:
to undergo a limited audit
No audit or voluntary audit
No audit required
by law

Ordinary audit Limited audit No audit required by law


• Publicly owned companies Organisations below the thresholds • Fewer than 10 full-time
• Consolidated financial statements • Total assets of CHF 20 million employees on average over the
• Major group subsidiaries • Sales of CHF 40 million year
• Economically significant • 250 full-time employees on • Agreement of all
companies average over the year shareholders/partners

Virtual Case Experience Assurance Academy


PwC

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