What is the difference between ordinary and limited audit?

The main difference lies in the scope of examination: ordinary audit provides a complete examination with positive attestation, while limited audit only performs limited audit procedures with negative confirmation.

Both audit types are anchored in Swiss Code of Obligations and serve different company sizes and requirements. Here is a detailed comparison:

Ordinary audit:

Scope of application:

• Large companies: Exceeding 2 of 3 threshold values
• Thresholds: CHF 20 million balance sheet total, CHF 40 million turnover, 250 full-time positions
• Public companies: Listed companies (always)
• Financial intermediaries: Banks, insurance companies, financial service providers

Examination scope:

• Complete examination: Annual accounts and management report
• Risk assessment: Systematic analysis of all material risks
• Detailed examinations: Sampling and analytical audit procedures
• Internal controls: Evaluation of internal control system
• Legal compliance: Examination of compliance with all regulations

Limited audit:

Scope of application:

• Small and medium enterprises: Not exceeding thresholds
• AG and GmbH: Not falling under ordinary audit
• Opt-out not chosen: Or not possible
• Voluntary application: Even if opt-out would be possible

Examination scope:

• Limited examination: Focus on essential aspects
• Analytical procedures: Plausibility checks and trend analyses
• Inquiries: Management and board of directors
• No detailed examinations: No extensive sampling
• Surface examination: Concentration on obvious errors

Direct comparison:

Audit with Findea.ch:

We offer both types of audit:

Our services:

• • Needs analysis: Which audit type is optimal?
• • Efficient execution: Minimal effort for you
• • Transparent prices: Fixed annual packages
• • Advice included: Free improvement suggestions

Conclusion: The choice between ordinary and limited audit depends on company size, stakeholder expectations, and cost-benefit considerations.