Regular audit

Regular auditing involves comprehensive checking of the annual financial statement, which is therefore more time-consuming. The aim of the regular auditing is to provide a clear statement that the figures presented correspond with Swiss law and the company’s articles of association.

In contrast to a limited audit, the audit procedures extend much further in regular audits and therefore lead to a more detailed report for interested parties such as the board of directors, banks and stakeholders.

Nowadays, regular auditing is more an exception than a rule and is mostly performed for large corporations.

Requirements

1. Companies which exceed two of the named thresholds (below) over two financial years in a row

  • Balance sheet total of CHF 20m
  • Sales revenue of CHF 40m
  • 250 full-time employees on average throughout the year

2. Public companies

3. Companies that are obliged to prepare a consolidated financial statement (insurance, banking, etc.)

4. All companies that are required by law to perform regular auditing

5. If shareholders who together account for at least 10% of share capital demand a regular audit

Advantages

  • Clear statements on the examination of the annual financial statement
  • Restrictive rules on the independence of the auditors
  • Complex audit procedures which enable clear statements


Disadvantages

  • Requires a great deal of effort making it cost-intensive
  • Time-consuming