Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

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.