Audit
Four eyes see more than two
We assist you with your audit
While our focus on finances is complemented by careful consideration of your corporate environment and business strategy, we assist you with the preparation of all required documentation for statutory and special purpose audits.
Although companies subjected to a limited statutory examination are permitted by law to have their bookkeeping and audit performed by the same supplier, provided there is no staffing or organisational overlap between the two, CONSAVO has decided to outsource all audit services to specialised partners that are admitted by the Swiss Federal Audit Oversight Authority (FAOA). We are convinced that this is the only way true independence can be guaranteed.
According to our client’s requirements, we work with the big four audit companies and smaller providers alike. We guide companies through the entire audit process and assist our clients in preparing the full audit documentation to ensure the audit costs remain as low as possible.
Audit services provided by our trusted partners
- Limited or ordinary statutory audit of the annual accounts according to the Swiss auditing standards
Carrying out various special purpose audits such as:
- Company formations with contributions in-kind
- Acquisitions in-kind
- Intended acquisitions in-kind
- Payment in full by offsetting
- Conditional capital increases
- Mergers & Demergers
- Changes or legal form
- Transfers of assets
- Capital reduction with release of funds
- Auditing of opening liquidation balance sheets, interim balance sheets and closing balance sheets
- Auditing of accelerated distributions of assets during liquidation
- Revaluation to eliminate capital deficits
- Interim balance sheets prepared on the basis of going concern and liquidation values
Switzerland's
Audit obligation
In Switzerland, the audit obligation is independent of the legal form but is linked to the economic relevance of a company. Audit requirements apply to all types of legal entities except sole proprietorships and partnerships.
Small and medium-sized companies in particular benefit from the limitation of the audit requirements (limited statutory audit).
Under Swiss law, the legal entities may be subject to:
- Ordinary audit
- Limited statutory examination
Smaller companies may opt-out or waive the requirement to carry out a limited statutory audit with the consent of all shareholders and if the company has less than ten full-time employees on an annual average.
Companies which fulfil the following requirements are subject to an ordinary statutory audit on a mandatory basis:
- Public companies, so companies:
- whose shares are traded on the stock market;
- whose bonds have been issued;
- whose assets/turnover contribute at least 20% to the consolidated financial statement.
- Companies who exceed two of the following thresholds for two consecutive financial years:
- CHF 20 million in total assets;
- CHF 40 million in turnover;
- 250 full-time jobs on average per year.
- Companies that are obliged to prepare consolidated financial statements;
- Companies whose shareholders holding at least 10% of shares demand an audit opting-up;
- Companies whose articles of association or an appropriate decision of the general meeting of shareholders require such.
Contact us today
We look forward to learning more about your challenge!
Whether by e-mail or by phone, whether in German, English or Japanese: We look forward to your concerns and are always available for a conversation. Also feel free to contact us via our contact form.
