The books
Accounting & bookkeeping
The statutory accounts the audit examines, kept reconciled and supported, so the audit runs fast.
Accounting & bookkeepingSwiss statutory audit
ordinary, limited, or opt-out
Whether a Swiss company needs a full ordinary audit, a lighter limited audit, or can opt out altogether turns on size and shareholder consent. We confirm which category applies before the year closes, arrange the opting-out where a small company qualifies, and where an audit is required, prepare auditable accounts and coordinate it through an independent licensed auditor, keeping the preparer and the auditor properly separate.
At a glance
The right audit treatment, settled in advance.
Three thresholds, an opt-out, and an independent licensed auditor.
- Ordinary audit
- > 2 of CHF 20m / 40m / 250 FTE
- Limited audit
- The default below that
- Opt-out
- ≤ 10 FTE, all shareholders agree
- Auditor
- Independent, RAB-licensed
- Independence
- Preparer ≠ auditor
The essentials
What the Swiss audit regime requires
Under the Code of Obligations, a Swiss company needs an ordinary audit if it exceeds two of three thresholds (CHF 20 million balance sheet, CHF 40 million turnover, 250 full-time staff), a limited audit if it is below that, and may opt out of the limited audit entirely with no more than ten full-time employees and all shareholders’ consent. The audit must be done by an independent auditor licensed by the Federal Audit Oversight Authority. Settling which category applies, in advance, is the first step.
Who this is for
- companies unsure whether they need an audit at all;
- small, closely-held companies that could opt out;
- growing companies crossing into a limited or ordinary audit;
- subsidiaries whose foreign parent may require an audit anyway.
Where it fits
The audit examines the statutory accounts, the opt-out is decided at formation and revisited as the company grows, and a clean audit underpins financing and corporate administration.
The decision
Ordinary, limited or opt-out
The category is not a choice so much as a consequence of size and shareholders, but knowing it in advance, and arranging the opt-out where it fits, controls both cost and compliance.
| Category | When | Assurance |
|---|---|---|
| Ordinary audit | > 2 of CHF 20m / 40m / 250 FTE | Full audit opinion |
| Limited audit | Default below ordinary thresholds | Review (moderate) |
| Opt-out | ≤ 10 FTE + all shareholders agree | None |
A small company that qualifies for the opt-out can save the audit cost entirely, but the waiver lapses on growth or a withheld consent, and a foreign parent may want an audit regardless. We settle the category before the year closes and keep it under review, so the treatment is always current rather than discovered late.
How it runs
From assessment to audit
We settle the category, arrange the opt-out or the auditor, and prepare accounts that audit cleanly, without auditing our own work.
- Step 1
Category assessment
Testing the company against the thresholds and the opt-out conditions, and any foreign-parent audit requirement.
- Step 2
Opt-out or appoint
Arranging and recording the opting-out where it fits, or appointing an independent licensed auditor where an audit is required.
- Step 3
Auditable accounts
Preparing the statutory accounts reconciled and supported, so the audit runs efficiently.
- Step 4
Audit coordination
Coordinating the engagement with the independent auditor through to the report to the shareholders’ meeting.
- Ongoing
Monitor the position
Watching headcount and shareholder changes so the audit obligation is met in time as the company evolves.
Budget
What it costs
An ordinary audit costs considerably more than a limited audit, and an opt-out removes the audit fee entirely. Within any category, the biggest driver of cost is the state of the accounts: clean records audit quickly. The audit fee belongs to the independent auditor; our work is the assessment, the auditable accounts and the coordination.
We scope and quote our part against the company’s position. Pricing is on request.
Discuss your audit
What you need
What the audit requires
A clean audit position rests on:
- a correct read of the company against the thresholds and opt-out;
- a properly resolved and recorded opting-out, where it applies;
- an independent auditor licensed by the audit oversight authority;
- statutory accounts that are reconciled, supported and auditable;
- monitoring of headcount and shareholders so the position stays current.
The opt-out is not permanent — growth brings the audit back
A small company that opted out of the audit can drift into an obligation without noticing: take on the eleventh full-time employee, admit a shareholder who does not consent, or grow into the ordinary thresholds, and an audit becomes mandatory for the next year. Companies that set up an opt-out at formation and forget it are the ones caught filing without a required audit. The opt-out is a position to maintain, not a box ticked once. We monitor it so the audit is arranged before it is overdue, not after.
Why Goldblum
Audit, in practice
The audit decision joins company law, the accounts and the discipline of independence. Settling the category, preparing auditable accounts and coordinating a clean audit is the fiduciary work this firm does.
Settled
The category, in advance
Ordinary, limited or opt-out confirmed before the year closes, with the opting-out arranged where a small company qualifies.
Independent
We don’t audit our own work
The audit arranged through a separate licensed auditor, preserving the independence the law requires while we keep the books.
Efficient
Clean accounts, fast audit
Auditable statutory accounts that keep the engagement short, so the auditor is not paid to fix bookkeeping.
Related
What the audit rests on
First
Company formation
Where the opt-out is first decided, and revisited as the company grows past the threshold.
Company formationStart here
Tax advisory
The tax position the audited accounts feed: effective-rate modelling and the reliefs that move the number.
Tax advisory
FAQ
Swiss statutory audit: FAQ
01Does my Swiss company need an audit?
It depends on size. A company that exceeds two of three thresholds in two successive years (a balance-sheet total of CHF 20 million, turnover of CHF 40 million, or 250 full-time employees on annual average) needs an ordinary audit. Most companies below that need a limited audit (a review). And a company with no more than ten full-time employees can opt out of the limited audit entirely, with the consent of all shareholders. We confirm which category applies before the financial year closes, so the position is settled, not assumed.
02What is the difference between an ordinary and a limited audit?
An ordinary audit is a full statutory audit: substantive testing, an opinion on whether the accounts comply with the law and the articles, and an assessment of the internal control system. A limited audit (a review) is lighter: enquiry and analytical procedures giving a moderate level of assurance, with no internal-control assessment. The ordinary audit applies to larger or public-interest companies; the limited audit is the default for the many companies above the opt-out line but below the ordinary-audit thresholds. The accounts are prepared the same way; the scrutiny differs.
03What is an audit opt-out (opting-out)?
A company with no more than ten full-time employees on annual average may waive the limited audit altogether, provided all shareholders agree. This 'opting-out' removes the audit obligation for a small, closely-held company, reducing cost and administration. It must be properly resolved and recorded, and it lapses if the company grows past the threshold or a shareholder withholds consent. We arrange the opting-out where it fits, and flag when growth or a new shareholder brings the audit obligation back.
04Who can audit a Swiss company?
An audit must be performed by an auditor with the appropriate licence from the Federal Audit Oversight Authority (RAB/ASR), an audit expert for an ordinary audit, a licensed auditor for a limited audit, and the auditor must be independent of the company. The fiduciary that keeps a company's books cannot also audit them, because independence would be compromised. We arrange the audit through an independent licensed auditor while we handle the accounts, keeping the two roles properly separate.
05Can the firm that does my accounts also audit them?
No, and this is a point of integrity, not just form. Auditor independence is a legal requirement: the person auditing the accounts cannot be the person who prepared them. Since we keep the books and prepare the statutory accounts for many clients, we arrange the audit through a separate, independent licensed auditor rather than auditing our own work. Coordinating a clean audit while preserving that independence is part of how we run the engagement properly.
06When does an opt-out stop being available?
When the company exceeds ten full-time employees on annual average, when a shareholder withholds or withdraws consent, or when the company grows into the ordinary-audit thresholds. At that point a limited or ordinary audit becomes mandatory for the following financial year. Because the change is tied to headcount and shareholder consent, it can arrive unnoticed as a company grows or takes on investors. We monitor the position so the audit is arranged in time rather than discovered to be overdue.
07How does the audit relate to the annual accounts?
The audit examines the statutory annual accounts prepared under the Code of Obligations and reports to the shareholders' meeting before the accounts are approved. Clean, well-supported accounts make for a smooth audit; disorganised records make it slow and expensive. Because we prepare the accounts to be auditable (reconciled, supported, retained), the audit, when one applies, runs efficiently. The audit is downstream of the bookkeeping, which is why getting the books right is the best way to control audit cost.
08Does a holding company or small subsidiary need an audit?
It follows the same thresholds and opt-out rules as any company. A small holding or a small subsidiary with no more than ten full-time staff can usually opt out of the limited audit with shareholder consent, though a foreign parent may require an audit for group-reporting reasons even where Swiss law does not. We assess both the Swiss statutory position and any group requirement, and arrange an audit where either calls for one, rather than only the legal minimum.
09What does an audit cost and how is it controlled?
Audit cost depends on the type (ordinary audits cost considerably more than limited audits) and on the state of the accounts. The single biggest driver within your control is the quality of the bookkeeping and the supporting records: a clean, reconciled file audits quickly, while a disorganised one runs up hours. The audit fee itself is the independent auditor's. We control the cost by preparing auditable accounts and coordinating the engagement, so the auditor is not paid to fix bookkeeping.
10What does Goldblum do on the statutory audit?
We determine which audit category applies (ordinary, limited or opt-out), arrange the opting-out where it fits, and where an audit is required, prepare auditable statutory accounts and coordinate the engagement through an independent licensed auditor, preserving the independence the law requires. We monitor headcount and shareholder changes so the position stays current. The aim is the right audit treatment, arranged on time, run efficiently off clean accounts.
Unsure whether you need an audit?
Tell us your size and shareholders. A partner confirms ordinary, limited or opt-out, arranges the opting-out where it fits, and coordinates a clean audit through an independent licensed auditor.