DHAC has received licensed auditor accreditation from the Swiss Federal Audit Oversight Authority (FAOA/ASR). This accreditation authorises us to perform two legally regulated services: the limited statutory audit as statutory audit body, and the attestation of capital increase reports involving contributions in kind under the Swiss Code of Obligations.
The FAOA and licensed auditor accreditation
The Federal Audit Oversight Authority (FAOA, or ASR in French and RAB in German) is the independent authority responsible for accrediting and supervising audit firms and auditors active in Switzerland. It was established under the Federal Act on the Licensing and Oversight of Auditors (AOA/LSR).
Licensed auditor accreditation is the level of authorisation required to conduct limited statutory audits for non-listed companies, and to attest certain capital transactions provided for in the Code of Obligations. It is obtained on the basis of recognised training and documented professional experience in the fields of accounting and auditing.
DHAC is also a member of EXPERTsuisse, the umbrella association for professionals in audit, tax and fiduciary services in Switzerland. Our audit work is performed in accordance with the Swiss Standard on Limited Statutory Audit (SAS/NCR) and all other applicable professional standards.
The limited statutory audit: the standard audit for Swiss SMEs
The limited statutory audit is the form of statutory audit applicable to the vast majority of Swiss corporations (SA/AG) and limited liability companies (Sarl/GmbH). Under Art. 727a para. 1 CO, any company that does not meet the thresholds for the full statutory audit, a balance sheet total of CHF 20 million, net revenue of CHF 40 million or an average headcount of 250 full-time equivalents, is in principle subject to the limited statutory audit.
The audit body reviews the annual accounts, conducts interviews with management and performs sample-based testing, then issues a report to the general meeting. It is not an exhaustive examination of every entry, but a structured review designed todetect material misstatements and provide limited assurance on the regularity of the financial statements.
Two statutory exceptions are worth noting:
- Opting out : a company may waive the audit requirement entirely if it employs fewer than 10 full-time equivalents on average and all shareholders unanimously consent (Art. 727a para. 2 CO). Since 1 January 2023, however, this waiver does not exempt a company from a limited statutory audit if its accounts show a loss of half of the share capital (Art. 725a para. 2 CO).
- Opting up : shareholders representing at least 10% of the share capital may request a full statutory audit even if the company is not legally required to have one (Art. 727 para. 2 CO).
Capital increase attestation, contributions in kind
Licensed auditor accreditation also allows us to attest capital increase reports, a service governed by Art. 652f CO.
When a company increases its share capital through a contribution in kind (real estate, business, client portfolio, machinery, etc.), a debt-to-equity conversion, or the incorporation of reserves, the law requires a licensed auditor to review the report prepared by the board of directors and confirm in writing that it is complete and accurate. This attestation protects shareholders and creditors by ensuring that the value of the contributions is real and properly substantiated.
What this means for our clients
Until now, companies that entrusted us with their accounting had to engage a separate auditor for their statutory audit obligations. It is now possible to consolidate all these services with DHAC: bookkeeping, statutory audit, and where applicable, attestation of capital transactions.
This accreditation reflects our commitment to offering clients a full-service fiduciary at a high standard, without multiplying their points of contact.
Further information
Full details of our audit services are available on the dedicated pages:
If you have questions about your audit obligations or an upcoming capital transaction, please do not hesitate to get in touch.