In an ordinary audit, the auditor has to present a recommendation on the approval of the annual financial statement in his or her report to the general meeting – it differs from the limited audit in this respect.
Ordinary audits
Larger companies which exceed two of the following thresholds in two consecutive business years are obligated to undergo an ordinary audit:
CHF 20 million total assets, CHF 40 million sales and 250 full-time staff on average for the year. The approach is more comprehensive than in a limited audit and also includes the examination of the internal control system as well as the annual financial statements. As part of this, the auditor not only produces a report for the general meeting (audit report), he or she also informs the board of directors in the “comprehensive report” about the execution of the audit as well as its results and findings with regards to the accounting and internal control system.
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Project Lead
Daniel Carotta
+41 44 533 76 00
PRÜFAG Wirtschaftsprüfung AG - Badenerstrasse 144 - 8004 Zürich - Phone +41 44 533 76 00 - info@pruefag.ch
PRÜFAG Lohnbuchkontrollen AG - Badenerstrasse 144 - 8004 Zürich - Phone +41 44 533 76 00 - info@pruefag.ch
IAPA is a global association of independent accountancy and business advisory firms that aims to support its members in providing their clients with a diverse range of professional, comprehensive and cost-effective business solutions, regardless of sector or location, to realise their international objectives. IAPA has over 200 member firms in some 70 countries and ranks amongst the top 25 global accounting organisations whose membership annual turnover is over 1 billion US$.
