Consolidated fonancial statements

We specialize in preparing and auditing consolidated financial statements in accordance with Swiss GAAP FER!

If a legal entity controls one or more companies, it is obligated to prepare annual financial statements for the group (consolidated financial statements). Consolidated financial statements are an important management tool. They increase transparency for all stakeholders and provide clarity about the financial condition of corporate groups.

Consolidated financial statement audits must be performed as ordinary audits according to the Swiss Auditing Standards (PS) since the criteria for preparing consolidated financial statements are the same as the criteria for ordinary audits. This means that ordinary audits must also be performed for major companies.

However, it is possible to only perform a limited audit for individual group companies.

Companies that are obligated to prepare consolidated financial statements must have them audited by an ordinary audit conducted by a licensed audit expert or by an auditing company that is subject to government supervision.

Voluntary audits of consolidated financial statements

Consolidated financial statements can also be voluntarily audited even if there is no statutory obligation to prepare consolidated financial statements. The increased transparency of a voluntary audit strengthens the confidence of potential lenders, credit institutes that are involved and other stakeholders in the corporate group.

Code of Obligations or recognized accounting standards

There may still be “hidden reserves” in consolidated financial statements that are prepared according to the Code of Obligations.

In contrast to this, the “true & fair view” principle must be complied with for consolidated financial statements prepared according to recognized accounting standards such as Swiss GAAP FER, IFRS, US GAAP etc. This means that a company’s balance sheet and valuation must be prepared in such a way that a reliable assessment of the company’s economic condition can be made directly from the consolidated financial statements.