Switzerland

Extent of IFRS application | Status | Additional Information |
---|---|---|
IFRS Standards are required for domestic public companies | ||
IFRS Standards are permitted but not required for domestic public companies |
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Permitted. |
IFRS Standards are required or permitted for listings by foreign companies |
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Permitted. |
The IFRS for SMEs Standard is required or permitted |
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Permitted. |
The IFRS for SMEs Standard is under consideration |
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Has the jurisdiction made a public commitment in support of moving towards a single set of high quality global accounting standards?
Has the jurisdiction made a public commitment towards IFRS Standards as that single set of high quality global accounting standards?
What is the jurisdiction's status of adoption?
Additional comments provided on the adoption status?
IFRS Standards as issued by the Board are accepted as a reporting standard for listed and unlisted companies.
The following table shows the financial reporting framework used by the 239 companies whose primary securities listings were on the SIX Swiss Exchange in August 2019:
Which GAAP? |
Total companies |
|
---|---|---|
IFRS Standards |
133 |
56% |
Swiss GAAP FER |
78 |
33% |
US GAAP |
10 |
4% |
Bank law |
18 |
8% |
Total |
239 |
100% |
If the jurisdiction has NOT made a public statement supporting the move towards a single set of accounting standards and/or towards IFRS Standards as that set of standards, explain the jurisdiction's general position towards the adoption of IFRS Standards in the jurisdiction.
For DOMESTIC companies whose debt or equity securities trade in a public market in the jurisdiction:
Are all or some domestic companies whose securities trade in a public market either required or permitted to use IFRS Standards in their consolidated financial statements?
If YES, are IFRS Standards REQUIRED or PERMITTED?
Does that apply to ALL domestic companies whose securities trade in a public market, or only SOME? If some, which ones?
Are IFRS Standards also required or permitted for more than the consolidated financial statements of companies whose securities trade in a public market?
For instance, are IFRS Standards required or permitted in separate company financial statements of companies whose securities trade in a public market?
For instance, are IFRS Standards required or permitted for companies whose securities do not trade in a public market?
If the jurisdiction currently does NOT require or permit the use of IFRS Standards for domestic companies whose securities trade in a public market, are there any plans to permit or require IFRS Standards for such companies in the future?
For FOREIGN companies whose debt or equity securities trade in a public market in the jurisdiction:
Are all or some foreign companies whose securities trade in a public market either REQUIRED or PERMITTED to use IFRS Standards in their consolidated financial statements?
If YES, are IFRS Standards REQUIRED or PERMITTED in such cases?
Does that apply to ALL foreign companies whose securities trade in a public market, or only SOME? If some, which ones?
Which IFRS Standards are required or permitted for domestic companies?
The auditor's report and/or the basis of presentation footnote states that financial statements have been prepared in conformity with:
Does the auditor's report and/or the basis of preparation footnote allow for ‘dual reporting’ (conformity with both IFRS Standards and the jurisdiction’s GAAP)?
Are IFRS Standards incorporated into law or regulations?
According to the Regulation on Recognised Accounting Standards, listed companies are permitted to use IFRS Standards as issued by the IASB Board.
More information about the Regulation on Recognised Accounting Standards as it applies to public companies may be found on this FAQ from the SIX Swiss Exchange.