Federal Act
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Art. 962a
B. Recognised financial reporting standards 1 If financial statements are prepared in accordance with a recognised financial reporting standard, details of the standard must be given in the financial statements. 2 The chosen recognised standard must be applied in its entirely and for the financial statements as a whole. 3 Compliance with the recognised standard must be verified by a qualified audit specialist. An ordinary audit must be made of the financial statements. 4 Financial statements in accordance with a recognised standard must be submitted to the supreme management body when the annual accounts are submitted for approval, although they do not require approval. 5 The Federal Council shall specify the recognised standards. It may stipulate requirements that must be met when choosing a standard or when changing from one standard to another. |