General and Limited auditing
Public limited companies (PLC), Limited Liability Companies (LLC), Cooperatives, Partnerships Limited by Shares, Foundations and Associations are all liable to legal auditing. The type of auditing depends on the organization’s relevance and dimensions. According to these factors, a company has to proceed to a general or limited check. Smaller firms could do without auditing under certain conditions and in particular by the owners’ unanimous decision.

QUESTIONS & ANSWERS

When am I liable to general auditing?
Pursuant to article 727 of the Code of Obligations (CO), companies which overstep two of the following values for two consecutive financial years:
a. Total revenue of 20 million CHF
b. Turnover of 40 million CHF
c. An annual average of 250 full-time positions;
are liable to general auditing. Furthermore, even listed companies or companies that are committed to set up a group account are liable to general auditing.
General auditing may also be solicited by shareholders, which represent together at least the 10% of the corporation stock. If the law does not require the general auditing of the annual report, it may be provided in the Statute or decided by the general assembly.

When am I liable to limited auditing?
Pursuant to article 727 of the Code of Obligations (CO), if the conditions for a general auditing are not given, the company has the annual report checked through limited auditing.
When am I liable to limited auditing?
Pursuant to article 727 of the Code of Obligations (CO), if the conditions for a general auditing are not given, the company has the annual report checked through limited auditing.

Can I renounce to an audit?
With the consent of all shareholders, it is possible to renounce to the limited auditing if the company shows an annual average of full-time positions not in excess of 10 units.

What are the qualifications to be an auditor?

Natural persons and audit firms which provide audit services, pursuant to the Federal Act on the Licensing and Oversight of Auditors of 16 December 2005, require a qualification.
According to FAOA dispositions related to auditors:

· Listed companies designate as auditor a state-supervised auditing company;
· Other companies subject to general auditing designate as auditor an qualified audit assessor;
· Companies subject to limited auditing designate as auditor a qualified auditor.

What are the qualifications to be an auditor?

Natural persons and audit firms which provide audit services, pursuant to the Federal Act on the Licensing and Oversight of Auditors of 16 December 2005, require a qualification.
According to FAOA dispositions related to auditors:

· Listed companies designate as auditor a state-supervised auditing company;
· Other companies subject to general auditing designate as auditor an qualified audit assessor;
· Companies subject to limited auditing designate as auditor a qualified auditor.


Is it possible to schedule a preliminary meeting without obligation?
A preliminary meeting is always possible. Mandates will be accepted and completed only if we are able to guarantee the professional knowledge and the necessary expertise in order to carry out the mandate properly, in compliance with independence principles.