Influence of the International Financial Reporting Standards (IFRS) on Swiss Accounting and Company Law
Third-party funded project
Project title Influence of the International Financial Reporting Standards (IFRS) on Swiss Accounting and Company Law
Principal Investigator(s) Handschin, Lukas
Organisation / Research unit Departement Rechtswissenschaften / Ordinariat Privatrecht, insb. Gesellschafts- und Rechnungslegungsrecht (Handschin)
Project start 01.04.2015
Probable end 31.03.2020
Status Completed
Abstract

The research project covers the question on how the International Financial Reporting Standards (IFRS) influence the Swiss legal system. The question arises in conjunction with the interpretation of Swiss accounting rules. Can specific IFRS-rules be generally accepted accounting principles in Swiss law? The research project examines how a norm of international self-regulation can influence Swiss law. Further, it examines whether the differences between the IFRS-rules and the rules of the Swiss Code of Obligation must lead to different representations or whether the optional rules in both the IFRS und the Swiss Code of Obligations allow for a “dual standard – reporting”. This “dual standard – reporting” would simplify the accounting, in particular the consolidation procedure. Further the project addresses the question whether an internal financial reporting system which follows IFRS-rules is compliant with the financial reporting obligations of the board of directors. An internal financial reporting system which follows the accounting rules of the Code of Obligations is admittedly not compliant. If an IFRS reporting system is compliant with the financial reporting obligations of the board of directors this would allow to use the statutory financial reporting as a management tool. The results of this research project will be documented in three dissertations. Further it will be included in the book “Corporate Accounting Law” and in specific essays. The research-partners are Prof. Ulf Schiller, University of Basel, Professor for Accounting and Prof. Reto Eberle, University of Zurich, Professor for Auditing, further the Swiss Institute of Certified Accountants, the Institute for Financial Services, Zug, Prof. Joachim Hennrichs, University of Cologne, Prof. Ulrich Torggler, University of Vienna, and Prof. Eva Micheler, London School of Economics.

Keywords company law, international self-regulaton, corporate governance, financial compliance, IFRS, accounting
Financed by Swiss National Science Foundation (SNSF)
   

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14/08/2020