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  • Basics of The Swiss Audit Options Model

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    Charielle Esthelin Bacugan
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    The document outlines the Swiss Audit Options Model, which provides companies with different levels of auditing based on their size. Under the model, an ordinary audit is required for large publicly owned companies, while smaller companies can opt for a limited audit or no audit. A limited audit has less stringent requirements than an ordinary audit and applies to companies that meet thresholds for total assets, sales, or employee numbers. Companies not meeting the thresholds can opt out of any audit requirements.

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    Basics of the Swiss Audit Options Model

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    The document outlines the Swiss Audit Options Model, which provides companies with different levels of auditing based on their size. Under the model, an ordinary audit is required for large publicly owned companies, while smaller companies can opt for a limited audit or no audit. A limited audit has less stringent requirements than an ordinary audit and applies to companies that meet thresholds for total assets, sales, or employee numbers. Companies not meeting the thresholds can opt out of any audit requirements.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    30 views1 page

    Basics of The Swiss Audit Options Model

    Uploaded by

    Charielle Esthelin Bacugan
    The document outlines the Swiss Audit Options Model, which provides companies with different levels of auditing based on their size. Under the model, an ordinary audit is required for large publicly owned companies, while smaller companies can opt for a limited audit or no audit. A limited audit has less stringent requirements than an ordinary audit and applies to companies that meet thresholds for total assets, sales, or employee numbers. Companies not meeting the thresholds can opt out of any audit requirements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Relevant legislation

    Basics of the Swiss Audit Options Model Size criteria: Articles 727 and 727a CO
    Independence requirements: Article 728 CO
    Duties of the auditor: Article 728a CO
    Ordinary audit: 728 CO
    Limited audit: 1729 CO

    Ordinary audit

    Opting up: Voluntary choice


    to undergo an ordinary audit

    Limited audit

    Opting in: Voluntary choice


    Opting-out/Opting-down:
    to undergo a limited audit
    No audit or voluntary audit
    No audit required
    by law

    Ordinary audit Limited audit No audit required by law


    • Publicly owned companies Organisations below the thresholds • Fewer than 10 full-time
    • Consolidated financial statements • Total assets of CHF 20 million employees on average over the
    • Major group subsidiaries • Sales of CHF 40 million year
    • Economically significant • 250 full-time employees on • Agreement of all
    companies average over the year shareholders/partners

    Virtual Case Experience Assurance Academy


    PwC

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