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

¹ In ad­di­tion to an­nu­al ac­counts un­der this Title, the fol­low­ing must pre­pare fin­an­cial state­ments in ac­cord­ance with a re­cog­nised fin­an­cial re­port­ing stand­ard:

1.

com­pan­ies whose equity se­cur­it­ies are lis­ted on a stock mar­ket, if the stock mar­ket so re­quires;

2.

co­oper­at­ives with a min­im­um of 2000 mem­bers;

3.

found­a­tions that are re­quired by law to have an or­din­ary audit.

² The fol­low­ing may also re­quest fin­an­cial state­ments in ac­cord­ance with a re­cog­nised stand­ard:

1.

com­pany mem­bers who rep­res­ent at least 20 per cent of the ba­sic cap­it­al;

2.

10 per cent of co­oper­at­ive mem­bers or 20 per cent of the mem­bers of an as­so­ci­ation;

3.

any com­pany mem­ber or any mem­ber sub­ject to per­son­al li­ab­il­ity or a duty to pay in fur­ther cap­it­al.

³ The duty to pre­pare fin­an­cial state­ments in ac­cord­ance with a re­cog­nised stand­ard ceases to ap­ply if con­sol­id­ated ac­counts are pre­pared in ac­cord­ance with a re­cog­nised stand­ard.

⁴ The su­preme man­age­ment or ad­min­is­trat­ive body is re­spons­ible for choos­ing the re­cog­nised stand­ard, un­less the Art­icles of As­so­ci­ation, the by-laws or the found­a­tion deed provide oth­er­wise or the su­preme man­age­ment body fails to spe­cify the re­cog­nised stand­ard.