IFRS / US GAAP
Companies that operate internationally stand very little chance of getting away with failing, in their annual financial statements, to present a true and fair view of their business affairs. In addition to the International Financial Reporting Standards (IFRS), which are the most commonly applied, US Generally Accepted Accounting Principles (US GAAP) are also in widespread use.
BDO is familiar with the issues associated with the application of IFRS (incl. IFRS for SMEs) and US GAAP, having had many years of auditing and consulting experience. We continuously monitor developments in the IFRS and US GAAP world and file comment letters on the exposure drafts.
BDO is registered with the Public Company Accounting Oversight Board (PCAOB) in the USA and is represented on the "IFRS" Commission and on the Audit Commission of the Swiss Institute of Certified Accountants.
As a member of the global BDO network, we collaborate with the relevant committees. While BDO Switzerland acts independently on issues related to applying IFRS and US GAAP, we consult the international BDO network committee when faced with controversial issues, although our competence centre in Switzerland has the final say.