New Swiss financial reporting law


New Swiss financial reporting law (Code of Obligations)

Reflections on the first year of implementation

Benchmarking financial statements

The financial year 2015 was the first year in which many companies had to apply the new Swiss financial reporting law, with the vast majority applying it for the very first time. Our recent analysis provides insight into how the new requirements were applied and offers reflections on the first year of implementation. It includes a review of annual reports of Swiss listed companies, representing a wide range of size, geographies and industries; and is based on annual reports comprising the standalone financial statements of the holding companies prepared in accordance with the Swiss Code of Obligations, thus the new Swiss financial reporting law.

We identified five significant differences in the way reporting companies have interpreted the requirements of the new Swiss financial reporting law:

  1. Financial statements structure and terminology
  2. Disclosure of subsidiaries
  3. Individual and group valuation
  4. Reliefs due to consolidated accounts
  5. Disclosure information about employees

To ensure compliant financial statements and achieve the maximum clarity, it is therefore important to be aware of these observations when applying the new financial reporting law. We trust that this benchmark of financial statements provides useful information and insights when it now comes to getting ready for the second year of preparation of the statutory financial statements under the new Swiss law.

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