Consolidated financial statements
The consolidated financial statements are an important management tool, contributing to greater transparency for all stakeholders and providing clarity on the financial management of a group. Companies required to prepare consolidated financial statements are also subject to a statutory audit by a licensed audit expert or audit firm under state oversight.
Even if there is no legal requirement to prepare consolidated financial statements, many groups choose to do so voluntarily as they increase transparency – and trust – for the group’s lenders, financial institutions and stakeholders.
Group audits
Our services:
- Audits for listed or family-run companies whose consolidated financial statements are prepared in accordance with the Swiss Code of Obligations (CO), Swiss GAAP FER or IFRS/US GAAP.
- Audit of the internal control system (ICS), both for individual subsidiaries and in connection with preparing the consolidated financial statements.
- International support, drawing on our global network of BDO specialists to audit your subsidiaries locally.
- Specific-scope audit of reporting packages that serve as the basis for preparing the consolidated financial statements.
Reporting on the consolidated financial statements
The report of the statutory auditor on the consolidated financial statements and the comprehensive report to the board of directors are important deliverables, offering valuable and practicable pointers and suggestions for improvement. The comprehensive report to the board of directors covers the consolidated financial statements and the individual subsidiaries. It sets out our findings on your organisation’s accounting and internal control system, and covers the performance and results of our audit.
Our reporting supports your audit committee and board of directors in fulfilling their duties. In subsequent years, we assess whether agreed measures have been implemented by relevant entities and report on the current status.