Only IFRS or US GAAP on Swiss Stock Exchange starting 2005
01 Aug 2003
Starting with annual reports for 2005 and interim reports for 2006, all Swiss companies whose equity shares are listed on the main board of the Swiss Exchange will be required to prepare their financial statements using either IFRS or US GAAP.
Swiss GAAP will not be permitted. 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 lists the shares of approximately 290 Swiss and 130 non-Swiss companies.