According to the communiqué, SIX Exchange Regulation intends to check compliance with the IFRS requirements particularly in the following areas:

• Critical review of disclosures with respect to their relevance, understandability and timeliness.
• Appropriateness of the measurement of revenues under IAS 18 and the corresponding presentation in the statement of comprehensive income.
• The correct determination of the scope of consolidation with regard to special purpose entities under IFRS 10 and the distinction between "joint operations" and "joint ventures" under IFRS 11 upon adoption of these standards.
• Appropriateness of the aggregation of groups of provisions as well as the level of detail of the disclosures for each group of provisions.

Further, the SIX Exchange Regulation has updated its Circular No. 2 which identifies IFRS issues that have led to discussions with or measures against issuers in the past.

SIX Exchange Regulation intends to check, on a random basis, compliance with the IFRS requirements on financial instruments. Particular attention will be paid to the financial statements of banks and securities dealers.

Further, the SIX Exchange Regulation has updated its Circular No. 2 which identifies IFRS issues that have led to discussions with or measures against issuers in the past.

Click to view the annual communiqué (link to PDF on SIX Exchange website).

The areas of focus will be:

• Disclosures of financial instruments (IFRS 7)
• Accounting policies (IAS 1)
• Income taxes (IAS 12)
• Related party disclosures (IAS 24)
• Intangible assets from business combinations (IAS 38/IFRS 3)

Further, the SWX has updated its Admission Board Circular No. 6 (PDF 136k), which identifies 24 IFRS issues that have led to discussions with or actions against issuers in the past.

Click to view the Annual Communique (PDF 26k).