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IFRS Survey 2010: A closer look at financial reporting in Switzerland

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14 Oct 2010

Deloitte Switzerland has completed a first survey of the application of IFRS accounting standards by Swiss public companies.

The survey was based on 2009 annual reports published by 30 companies with a total market capitalisation of 572 billion francs, or 62% of the total market capitalisation of the Swiss stock exchange. In selecting the sample, the aim was to include not only the largest listed companies but also to ensure that entities which were selected varied as much by activity as by geographic location. Ten of the companies selected are included in the SMI index.

The main objectives of the survey were to discover:

  • the level of variety in presentation of the primary statements in listed companies' financial statements;
  • which critical judgments and key estimations directors consider to be the most significant when preparing their financial statements;
  • how compliance with disclosure requirements and the accounting policy choices made under IFRSs varied;
  • the impact of changes to accounting standards effective for the first time in 2009; and
  • how companies comply with disclosure requirements specific to Swiss listed companies.

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