Accounting Standards in Switzerland

An overview of national and international standards – understanding Swiss GAAP FER, IFRS and US GAAP

12.01.2024 von Rodolfo Intaglietta EN

Letzte Aktualisierung: 03.02.2026

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accounting

7 Min

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KeyFacts Overwiew OR Swiss GAAP FER IFRS US GAAP FAQ Key Takeaways

Ein kompetenter Steuerberater steht in einem modern eingerichteten Treuhand-Büro, bereit für mandantenorientierte Beratung.

Rodolfo Intaglietta EN

Managing Director | CEO

Rodolfo Intaglietta is the founder and managing director of ONE! Treuhand GmbH. As a Treuhänder mit eidg. Fachausweis (Swiss federally certified trustee) and a Diplomierter Experte in Rechnungslegung und Controlling (certified expert in accounting and controlling), he supports entrepreneurs across Switzerland with clear financial insights, digital processes, and personal, hands-on advisory services.

The qualification “eidg. diplomierter Experte in Rechnungslegung und Controlling” corresponds to NQF level 8, the highest level of formal education in Switzerland, and is comparable to a doctoral degree in terms of depth of expertise and level of responsibility.

Accounting standards ensure transparency, comparability and reliability in financial reporting. In Switzerland, both national and international standards are applied. Depending on company size, stock exchange listing and international orientation, different requirements apply.

This article provides a structured overview of the relevant accounting standards and their practical relevance.

What you will learn:

Current accounting records and annual financial statements
Basic understanding of Swiss Code of Obligations (CO) requirements
Official guidelines for Swiss GAAP FER, IFRS or US GAAP
Documentation of applied accounting principles
Professional support from fiduciary or audit specialists if required

Required skilllevel

Advanced knowledge would be helpful

Required Tools

Current accounting records and annual financial statements
Basic understanding of Swiss Code of Obligations (CO) requirements
Official guidelines for Swiss GAAP FER, IFRS or US GAAP
Documentation of applied accounting principles
Professional support from fiduciary or audit specialists if required

Accounting standards that apply in Switzerland

In today’s business environment, accounting regulations play a crucial role in ensuring transparency and comparability of financial data. Accounting standards define how companies prepare and present their financial statements.

They provide a common basis for assessing a company’s financial position by stakeholders, investors, lenders and management.

Swiss Code of Obligations

The Swiss Code of Obligations (CO) specifies which companies are required, in addition to statutory financial statements, to prepare financial statements in accordance with a recognised accounting standard (Art. 962 CO).

Accounting standards contain more detailed requirements and rules than the CO. In Switzerland, Swiss GAAP FER, IFRS and US GAAP are recognised accounting standards.

Swiss GAAP FER

Swiss GAAP FER is a Swiss accounting standard. It is particularly suitable for small and medium-sized Swiss companies with a primarily national focus. Its objective is to present a true and fair view of a company’s assets, financial position and results in a simplified manner.

Thanks to its modular structure, SMEs can prepare standard-compliant financial statements without excessive effort.

International Financial Reporting Standards (IFRS)

IFRS are internationally recognised accounting standards issued by the International Accounting Standards Board (IASB). Companies listed on European stock exchanges are required to prepare their financial statements in accordance with IFRS.

Although not legally mandatory in Switzerland, many Swiss companies use IFRS to enhance international comparability. IFRS Accounting Standards are more comprehensive than Swiss GAAP FER.

US GAAP

United States Generally Accepted Accounting Principles (US GAAP) represent the accounting standards applied in the United States. Companies listed on US stock exchanges are required to comply with these standards.

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What are accounting standards and why are they important?

Accounting standards are defined sets of rules and guidelines that determine how companies present their financial information. They ensure consistent and reliable reporting, which builds trust among investors and stakeholders.

Are there differences between Swiss GAAP FER and IFRS?

Yes. Swiss GAAP FER places greater emphasis on Swiss market conditions and typical corporate structures, while IFRS is internationally oriented and focuses on global comparability.

Why can the implementation of Swiss GAAP FER be challenging for companies?

Interpreting and applying the standards can be complex, as specific requirements must be implemented correctly. Additional effort may also be required for documentation and disclosure.

What are the benefits of complying with Swiss accounting standards?

Compliance enables a clear and reliable presentation of a company’s financial position, taking Swiss business practices into account. This enhances transparency and comparability within the local economy.

What role does the Federal Audit Oversight Authority (FAOA) play in Switzerland?

The Federal Audit Oversight Authority supervises audit firms and contributes to quality assurance in auditing and financial reporting.

How do accounting standards influence investment decisions?

Clear and comparable financial information prepared in accordance with recognised standards allows investors to better assess risks and opportunities, supporting informed decision-making.

Which companies in Switzerland mainly use IFRS?

Primarily larger companies and those with international operations use IFRS to ensure global comparability of their financial reporting.

How do accounting standards adapt to economic changes?

Accounting standards are continuously developed to reflect changes in the economy, new technologies and international developments.

The Swiss Code of Obligations (CO) defines the minimum requirements for financial statements.
Recognised accounting standards supplement the CO with more detailed rules.
Swiss GAAP FER is often suitable for SMEs focused on the Swiss market.
IFRS is designed for international comparability and is more comprehensive than FER.
US GAAP mainly applies to companies with a US capital market connection.
The choice of standard depends on company size, structure and stakeholder requirements.

Accounting standards make a significant contribution to the integrity and transparency of financial reporting in Switzerland. They help companies, investors and other stakeholders gain a clearer understanding of financial performance and position, thereby strengthening confidence in financial information.

The variety of standards reflects different company needs and market environments and highlights the importance of ongoing engagement with applicable regulations.

Rodolfo Intaglietta EN