Audit of consolidated accounts

Consolidated financial statements increase transparency for all stakeholders and provide confidence and clarity within a group of companies.

PROGRESSIA is qualified to audit consolidated financial statements prepared in accordance with the following accounting standards:

  • Swiss Code of Obligations (CO)

  • SWISS GAAP FER

  • IFRS

Make an appointment

+41 26 350 35 00
office@progressia.ch

Who must prepare consolidated financial statements?

If a legal entity controls one or more companies subject to accounting requirements, it must prepare consolidated financial statements (group financial statements) in the annual report for the totality of the controlled companies.

A legal entity is exempt from the obligation to prepare consolidated financial statements if it:

  • together with the controlled undertakings, does not exceed two of the following criteria in two consecutive financial years:

    -  balance sheet total of CHF 20 million
    -  sales revenue of CHF 40 million
    -  250 full-time positions on an annual average

  • is controlled by a company whose consolidated financial statements have been prepared and properly audited in accordance with Swiss or equivalent foreign regulations.

A consolidated financial statement must nevertheless be prepared if:

  • This is necessary for the most reliable assessment of the economic situation;

  • Partners or shareholders representing at least 20 per cent of the share capital or 10 per cent of the members of the cooperative or 10 per cent of the members of the association request it;

  • A partner or a member of the association who is subject to personal liability or an obligation to make additional contributions so requests.