Financial Statements


Swiss GAAP FER are part of the accounting standards recognized in Switzerland. These standards are issued by the FER Commission and are designed in order to provide a true and fair view of the financial positions of the company. They are applied by large companies listed in Switzerland that chose not to use IFRS, such as Bobst, Swatch Group or Ascom.

In addition to listed companies, a certain number of SMEs willing to disclose higher quality financial information prepare their financial statements under Swiss GAAP FER. Furthermore, not for profit organizations can also be required to prepare their financial statements under the standard Swiss GAAP FER 21.

Swiss GAAP FER is an accounting framework that is much lighter when compared to IFRS. As such, it significantly reduces the cost for the business. Therefore, Swiss GAAP FER are much easier to deploy in an SME than IFRS.

Gaapex has the expertise of preparing your financial statements under Swiss GAAP FER on your behalf. We can also assist you with the transition to that accounting framework and to facilitate the audit.


IFRS (International Financial Reporting Standards) is an accounting standard that has gained international recognition. Its main target is to give a true and fair view of the financial positions of the company and therefore prohibits the recognition of unjustified provisions. It is a legal requirement for all companies listed in the European Union to prepare their financial statements in accordance with IFRS. It is also an accounting standard recognized in Switzerland, in addition to Swiss GAAP FER and US GAAP.

IFRS are to be distinguish from other less complex standards by their large volume of disclosures, the preparation of a cash flow statement as well as differences in the valuation of a certain number of items.

Depending of the needs of your shareholders and other stakeholders, the preparation of IFRS financial statements can be required. Gaapex is able to assist you with the IFRS conversion process, either as an advisor or by performing the actual conversion and preparing the financial statements and the required disclosures. We can also coordinate the audit of these financial statements.


All companies incorporated in Switzerland are required by law to prepare their statutory financial statements under the Swiss code of obligations in addition to their other reporting requirements (such as IFRS, US GAAP or Swiss GAAP FER). The statutory financial statements are intended to present the financial situation of the company from a civil law perspective and are directly determinant for its corporate income tax return. It is therefore critical to prepare these in such a way that they are in line with the respective tax rules.

Gaapex has a comprehensive experience with the preparation of statutory financial statements and conversion from US GAAP or IFRS. We systemically prepare a detailed bridge documenting and explaining differences between the US GAAP / IFRS ledger and the statutory books.