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Switzerland

Financial Reporting Framework in Switzerland

Switzerland is not a member of the European Union and, therefore, is not subject to the EU IAS Regulation or Accounting Directives.

The Swiss Foundation for Accounting and Reporting publishes accounting standards (ARR/FER, oy wr 'Swiss GAAP'). Compliance with ARR/FER is required by all companies. However, compliance with IFRSs ensures compliance with ARR/FER, and many large Swiss companies have, for a number of years, followed IASs/IFRSs.

Starting with annual reports for 2005 and interim reports for 2006, most Swiss companies whose equity shares are listed on the main board of the Swiss Exchange are required to prepare their financial statements using either IFRSs or US GAAP. Swiss GAAP will not be permitted.

The only exception is for Swiss companies listed on the main board that are not multinational (that is, operate primarily in Switzerland). Those companies may continue to use the Swiss GAAP, or they may choose IFRSs or US GAAP.

Foreign listed companies may continue to use a national GAAP that the Exchange deems to be equivalent to IFRS or US GAAP.

The main board of the Swiss Exchange lists the shares of approximately 280 Swiss and 120 non-Swiss companies.

IAS Plus in German

Deloitte Germany offers a German translation of IAS Plus including all news stories and background material. The information is supplemented with news from Germany, Austria, Switzerland and Liechtenstein: www.iasplus.com/de. There is also an overview of all German language publications available on the site.

Related news

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  • Jan 17, 2013

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  • Jun 04, 2012

  • The International Forum of Accounting Standards Setters (IFASS) met in Kuala Lumpur on 29-30 March 2012. A detailed report of proceedings at the meeting has now been released, outlining discussions on numerous topics such as the relationship between standard setters and the IASB, the IASB's work programme and processes, and a report on the possible adoption of IFRS in the United States noting a possible "step back".

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  • Mar 29, 2012

  • The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has released a survey which provides a collection of key features on structure and organisation of the accountancy profession across 30 European countries.

  • SIX Exchange Regulation IFRS areas of focus for 2011 financial statements

  • Sep 29, 2011

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  • Apr 06, 2011

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  • Oct 05, 2009

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