Disclosure checklist in accordance with the Swiss ... · PDF file10 Intangible assets 26 11...

Disclosure checklist in accordance with the Swiss Accounting and Reporting Recommendations(Swiss GAAP FER)Based on Swiss GAAP FER as of 1 January 2012

2 Ernst & Young | Swiss GAAP FER

Introduction 4

1 Framework/Basics 7

2 Valuation 11

3 Presentation and format 12

4 Cashflowstatement 15

5 Off-balance-sheet transactions 17

6 Notes 18

7 Consolidatedfinancialstatements 20

8 Inventories 24

9 Tangiblefixedassets 25

10 Intangible assets 26

11 Leases 28

12 Impairment 28

13 Provisions 29

14 Incometaxes 30

15 Pensionbenefitobligations 31

16 Equityandtransactionswithshareholders 33

17 Long-termcontracts 38

18 Relatedpartytransactions 39

19 Derivativefinancialinstruments 40

20 Interim reporting 41

21 Consolidatedfinancialstatementsofinsurancecompanies 43

22 Accountingforcharitable,socialnon-profitorganizations(NPOs) 51

23 Accountingofpensionplans 59

24 Accountingforrealestateinsurersandhealthinsurers 70

Contents

3Ernst & Young | Swiss GAAP FER

General Ernst & Young has put together this checklist as a useful aid to support all users of the generallyacceptedaccountingprinciplesinSwitzerland,i.e.,theSwissAccountingand ReportingRecommendations(SwissGAAPFER).ThechecklistcomprisesquestionstoverifythecompletenessofdisclosuresmadeinseparateandconsolidatedfinancialstatementspreparedinaccordancewithSwissGAAPFER.ItcoversallofthedisclosurerequirementsoftheAccountingandReportingRecommendations2010/11,includingtherecommendations on accounting for real estate insurers and health insurers which were enactedasof1January2012.

ThischecklistdoesnotdealwithanyoftheotherprovisionsofSwissGAAPFER,suchas accountingprinciples,termsanddefinitions.Formoreinformationontheseaspects, pleaserefertotheSwissGAAPFERBrochure2010/11.

FurtherinformationonSwissGAAPFERincludingpressreleases,publicationsor informationbrochurescanbefoundatwww.fer.ch.

Application

Thischecklisthasamodularstructure.Itstartswiththerecommendationsthatare applicabletoallusers,regardlessofcompanysize(coreFERandrecommendationsonconsolidatedfinancialstatements).Thechecklistthendealswiththerecommendations onindividualitemsofthefinancialstatementsforusersapplyingSwissGAAPFERinitsentirety.Attheenditaddressesspecialissuessuchasinterimreportingandaccountingforcharitableorganizations,pensionplansorrealestateandhealthinsurers.Thecheck-listshouldbecompletedbyanswering“yes”,“no”or“n/a”toeachofthequestions.Iftheoption “no” is selected, the departure from/breach of the disclosure requirements should beexplainedinthecommentssection.

Completeness and accuracy

Wehavemadeeveryefforttoaccuratelyreflectalldisclosurerequirementsinfullinthischecklist.However,wecannotentirelyexcludethepossibilityoferrors.Wetherefore recommendconsultingtheapplicableSwissGAAPFERbrochureandseekingprofessionaladvicebeforereachingimportantdecisions.Ernst&Youngshallnotbeheldliableforanydamagesarisingfromtheuseofthischecklist.Wewelcomesuggestionsforimprovement.

Information and advice Edgar Christen Partner,SwissGAAPFERDeskLeaderErnst & Young Ltd, ZugOffice:0582867575|Mobile:[email protected]

Introduction


Effective date of the relevant Swiss GAAP FER standards

No. TopicSwiss GAAP FER effective date

FW SwissGAAPFERFramework 01.01.2006

1 Basics 01.01.2009

2 Valuation 01.01.2007

3 Presentation and format 01.01.2009

4 Cashflowstatement 01.01.2009

5 Off-balance-sheet transactions 01.01.2007

6 Notes 01.01.2007

10 Intangible assets 01.01.2007

11 Incometaxes 01.01.2007

12 Interim reporting 01.01.2009

13 Leases 01.01.2007

14 Consolidatedfinancialstatementsofinsurancecompanies 01.01.2002

15 Related party transactions 01.01.2009

16 Pensionbenefitobligations 01.01.2011

17 Inventories 01.01.2007

18 Tangiblefixedassets 01.01.2010

20 Impairment 01.01.2007

21 Accountingforcharitable,socialnon-profitorganizations(NPOs) 01.01.2007

22 Long-term contracts 01.01.2007

23 Provisions 01.01.2010

24 Equity and transactions with shareholders 01.01.2007

26 Accounting of pension plans 01.01.2009

27 Derivativefinancialinstruments 01.01.2010

30 Consolidatedfinancialstatements 01.01.2009

41 Accounting for real estate insurers and health insurers 01.01.2012

TheindividualSwissGAAPFERstandardsareapplicableforfinancialstatementsbeginningfromthefiscalyearonoraftertheeffectivedate.


Disclosure checklist in accordance with the Swiss Accounting and

Reporting Recommendations (Swiss GAAP FER)

Company Financial statements as of Separate financial statements Yes No

Consolidated financial statements Yes No

Name Date

prepared

approved


Checklist components This checklist aims to help users ensure compliance with the disclosure requirements of the SwissAccountingandReportingRecommendations(SwissGAAPFER).Pleasenotethattheterminologyusedinthischecklistisforguidanceonly.Actualtermsmayvary.Ifyouareunsureaboutanyofthequestion,pleaserefertothecorrespondingrecommendation. Thechecklistcomprisesthefollowingsections:

Core FER – questions 1 to 51Thissectionisapplicableforallorganizations,regardlessofsize.

Swiss GAAP FER 30 – questions 52 to 78Thissectionisapplicableforconsolidatedfinancialstatements,regardlessofthesizeofthecompany.

Swiss GAAP FER 10–27 (except 12, 14, 21 and 26) – questions 79 to 161ThissectionmustbeappliedifthecompanyexceedsthesizecriteriadefinedinSwissGAAPFER1para.2andisnotpermittedtousecoreFER.

Swiss GAAP FER 12 – questions 162 to 168Thissectionisapplicableforinterimreporting.

Swiss GAAP FER 14 – questions 169 to 203Thissectionisapplicablefortheconsolidatedfinancialstatementsofinsurance companies.

Swiss GAAP FER 21 – questions 204 to 244Thissectionisapplicablefortheaccountingofcharitable,social,non-profitorganiza-tions.

Swiss GAAP FER 26 – questions 245 to 258Thissectionisapplicablefortheaccountingofpensionfunds.

Swiss GAAP FER 41 – questions 259 to 292Thissectionisapplicablefortheaccountingofrealestateinsurersandhealthinsurers.


Core FER

1

2

3

4

5

6

FW 41.7

FW 7

FW 8

FW20

FW 28

FW 28

Arethefollowingsizecriteriamet?•Reporting year • TotalassetsofmorethanCHF10m • AnnualrevenueofmorethanCHF20m • Morethan50FTEsonaveragefortheyear•Prior year • TotalassetsofmorethanCHF10m • AnnualrevenueofmorethanCHF20m • Morethan50FTEsonaveragefortheyear

Iftwooftheabovecriteriaarenotmetfortwoyearsinarow,theorganizationisentitledtoapplycore FERonly.

Inthesectiononaccountingprinciples,doesthecompanydisclosethatthefinancial statementswerepreparedinaccordancewithSwissGAAPFERanddoesitstate learlywhetherSwissGAAPFERasawholeorcoreFERwasapplied?

Dothe(consolidated)financialstatementsconsistofatleastthefollowing components?•Balance sheet• Income statement• Cashflowstatement•Statement of changes in equity•Notes

IftheorganizationisapplyingcoreFERorSwissGAAPFERasawholeforthefirst timeasitsbasisforaccounting,orisswitchingfromcoreFERtoSwissGAAPFER, has the prior-year balance sheet been restated in accordance with the new standards?

Arecontingentassetsandcontingentliabilitiesdisclosedseparately?

Dothenotescontaindisclosuresofanysignificanteventsafterthebalancesheet datetogetherwithdetailsoftheestimatedfinancialimpactoftheseevents?

Istheapprovaldatedisclosed(i.e.,thedatethatthe(consolidated)financial statements were approved by the corporate body responsible for preparing the financialstatements)?

Yes No n/a

1 Framework/Basics (Swiss GAAP FER 1)

FW = FrameworkCO = Swiss Code of Obligations

Reference


7

8

9

10

11

12

13

14

15

FW306.6

FW306.6

FW306.6

FW306.6

FW306.6

FW306.6

FW306.6,6.5

FW306.6

FW33

Thefinancialstatementsaretobepreparedinaccordancewiththesameprinciplesusedintheprioryear.Areanybreachesoftheprincipleofconsistency (valuation,presentationanddisclosure)disclosed?

Haveanychangesinaccountingprinciplesbeenmadeinthefollowingjustified cases?• ChangewasrequiredbyaSwissGAAPFERrecommendation• Theorganization‘sbusinessactivitieshavechangedsignificantly• Contributiontoanew/differentorganization•Anoptionthatismoreinformativeandappropriateforthefinancialstatements andthefutureoftheorganizationhasbeenapplied(withintheoptions providedbySwissGAAPFER)

Arethefollowingpointsdisclosedinthenotes?•Reasons why an accounting principle has been changed•Nature of the change•Financial impact of the change

Havetheprior-yearfinancialstatementsbeenrestatedasifthenewaccounting principleshadalwaysbeenapplied?

Istheimpactoferrorsinpreviousfinancialstatementsexplainedinthenotes,includingthefinancialimpactoftheerror?

Havethefinancialstatementsbeenrestatedasiftheerrorshadneverbeenmade?

Arechangestoestimatesdisclosedinthenotes?

Dothechangestoaccountingerrorsaffectthenetprofit/lossforthecurrentperiod and/or future period

Arecross-referencestothenotesmadeforitemsofthefinancialstatements, ifnecessary?

Yes No n/a Reference


16

17

18

19

FW34

662a CO

662a/b CO

960CO

Comments

Doestheannualreportcontainstatementsonatleastthefollowingaspects?• Environment:Outlineoftheeconomicenvironmentofthepastyearand expectationsforitsfuturedevelopment

• Fiscalyear:Commentsonthecomponentsofthefinancialstatementsonthebasis of key business ratios of the balance sheet and the income statement and their development

•Outlook:Commentsonthefurtherdevelopmentoftheorganizationwithfocuson thesubsequentfiscalyear,especiallywithregardtorisksandopportunities

UnlessaSwissGAAPFERrecommendationallowsfororrequiresadifferent treatment,areallfiguresfromtheprioryearpresentedinthefinancialstatements?

Dothenotestothefinancialstatementsdisclosereasons(ifpossiblewithfigures) fordeviationsfromthefollowingprinciples?• Goingconcern•Prohibition of offsetting•Reliability

Ismentionmadeofthecurrency(e.g.,CHF,euro)andunit(e.g.,million,thousand,CHFkor’000)?



2 Valuation (Swiss GAAP FER 2)

20

21

22

23

24

25

26

27

2.19

2.32.20

2.22

2.6

2.6

2.24

2.28

2.33

Comments

If special provisions are applied for valuation purposes, is reference made to thisfactappropriatelyinthefinancialstatements?

Arethereobjectivereasonsforanydeviationsfromthechosenvaluationbasisor combinationthereof(e.g.,valuationofcertainitemsofPPEatmarketvalues)and arethesedisclosedinthenotes?

Do the notes contain disclosures on the method used to determine depreciation/amortizationandimpairment?

Are the valuation principles for the individual items and the valuation basis for the financialstatementsasawholedisclosedinthenotes?

Inparticular,arethevaluationprinciplesforthefollowingitemsdisclosed?• Securitiesclassifiedascurrentassets•Receivables• Inventories•Property, plant and equipment•Financial assets• Intangible assets•Liabilities•Provisions•Other material items

Aretheassumptionsusedtodeterminetheflatrateallowanceforreceivables disclosedinthenotes?

IsthedepreciationmethodanddepreciationperioddisclosedforPPE?

Dothenotescontaindisclosuresontheestimatedusefullivesandtheamortizationmethod used for intangible assets



28 3.2 Areatleastthefollowingitemsdisclosedseparatelyinthebalancesheet?ASSETS – current assets•Cash and cash equivalents•Securities•Trade receivables•Other current receivables• Inventories•Prepayments and accrued income•TOTAL current assetsASSETS – non-current assets•Property, plant and equipment•Financial assets• Intangible assets•TOTAL non-current assetsEQUITY AND LIABILITIES – current liabilities•Current liabilities•Trade payables•Other current liabilities•Current provisions•Accrued liabilities and deferred income•TOTAL current liabilitiesEQUITY AND LIABILITIES – non-current liabilities•Non-currentfinancialliabilities•Non-current provisions•Other non-current liabilities•TOTAL non-current liabilitiesEQUITY AND LIABILITIES – equity• Capitaloftheorganization• Capitalreserves(contributionreserves,sharepremium,etc.)• Treasuryshares(shownasaminusitem)• Capitaloftheorganizationthathasnotbeenpaidup(shownasaminusitem)•Revaluation reserves•Retained earnings or accumulated losses•TOTAL equity

3 Presentation and format (Swiss GAAP FER 3)



29

30

31

32

663a no.4CO

3.4

3.5

3.5

Arethefollowingitemsdisclosedseparatelyinthebalancesheetorinthenotes?Trade receivables/other receivables•From related parties•From shareholdersProperty, plant and equipment •Undeveloped land•Land and buildings•Plant and equipment•Assets under construction•Other property, plant and equipmentFinancial assets•Securities based on a long-term investment strategy• Deferredincometaxes•Participations•Participations in related parties•OtherfinancialassetsIntangible assets• Internallygeneratedintangibleassets(includingcapitalizeddevelopmentcosts inparticular)

Trade payables/financial liabilities/other liabilities• to related parties• to shareholdersProvisions• Taxprovisions•Pension provisions•Restructuring provisions•Other provisionsEquity• Breakdownofcapitaloftheorganizationbytype(amount)

Are the changes in individual equity items between the beginning and the end of the reportingperioddisclosedseparatelyinthestatementofchangesinequity?

Isimpairmentofcurrentandfinancialassetitemsdisclosedinthenotes?

If the indirect depreciation method is used, is accumulated depreciation and impairment of PPE items disclosed within the corresponding asset item or disclosed separatelyinthenotes?



33

34

35

3.7

3.8

3.9

Istheincomestatementclassifiedaccordingtothenatureofexpensemethod asfollows?•Net revenue from goods and services•Other operating income• Changeinworkinprocessandfinishedgoodsaswellasunbilledgoodsandservices•Cost of materials• Personnelexpenses•Depreciation of property, plant and equipment•Amortizationofintangibleassets•Otheroperatingexpenses•Operating result•Financial result •Ordinary result•Non-operating result• Extraordinaryresult• Profit/lossbeforeincometaxes• Incometaxes• Profit/loss

Istheincomestatementclassifiedaccordingtothefunctionofexpensemethodasfollows?•Net revenue from goods and services•Acquisition or production cost of goods and services sold•Administrativeexpenses• Sellingexpenses•Other operating income•Otheroperatingexpenses•Operating result•Financial result•Ordinary result•Non-operating result• Extraordinaryresult• Profit/lossbeforeincometaxes• Incometaxes• Profit/loss

Are the following items disclosed separately in the income statement or in the notes andexplainedinthenotes?• Financeexpenseandincome•Non-operatingexpensesandincome• Extraordinaryexpensesandincome



36

37

38

39

40

41

3.10

Comments

4.1

4.2

4.3

4.3

4.64.14

Ifthefunctionofexpensemethodwasused,arethefollowingitemsdisclosed separatelyinthenotes?• Personnelexpenses•Depreciation of property, plant and equipment•Amortizationofintangibleassets

Doesthecashflowstatementdisclosethechangeincashandcashequivalent asaresultofinflowsandoutflowsfromthefollowingactivities?•Operating activities• Investing activities•Financing activities

Ifthedirectmethodisused,dothenotesshowareconciliationoftheprofit/lossfor theperiod(oralternativelyoperatingresult)withthecashflowfromoperating activities?

Isthecompositionofcashandcashequivalentsshown?Thefollowingarepermissible:•Cash•Netcash(i.e.,cashlessshort-termbankdeposits)

Dotheopeningandclosingfiguresforcashandcashequivalentscorrespondtothe balancesheetitems?

Areinvestingandfinancingactivitiesthatdonottriggeracasheffectexplained inthenotes?

4 Cash flow statement (Swiss GAAP FER 4)



42

43

44

4.9

4.10

4.11

If applying the direct method, is the cash flow from operating activities broken down into at least the following?• + Payments received from clients for the sale of products, goods and services• – Payments made to suppliers for goods and services• – Payments made to employees• + Other inflows• – Other outflows• = Cash in/outflow from operating activities

If applying the indirect method, is the cash flow from operating activities broken down into at least the followingProfit/loss• +/– Depreciation/amortization/write-ups (revaluations through profit and loss)

of non-current assets +/– Loss from impairment/reversal of impairment +/– Non-cash increase/decrease in provisions (incl. deferred taxes) +/– Other non-cash expenses/income +/– Loss/gain on the disposal of non-current assets +/– Decrease/increase in trade receivables +/– Decrease/increase in inventories +/– Decrease/increase in other receivables and prepayments and accrued income +/– Increase/decrease in trade payables +/– Increase/decrease in other current liabilities and accrued liabilities and

deferred income• = Cash in/outflow from operating activities

Is the cash flow from investing activities broken down into at least the following categories?• – Cash paid for investments in (purchase of) property, plant and equipment• + Cash received from the disposal of property, plant and equipment• – Cash paid for investments in (purchase of) financial assets (incl. loans, equity

investments, securities, etc.)• + Cash received from the disposal of financial assets (incl. loans, equity

investments, securities, etc.)• – Cash paid for investments in (purchase of) intangible assets• + Cash received from the disposal of intangible assets• = Cash in/outflow from investing activities



45

46

4.12

Comments

5.35.6663b no.1CO

Comments

Isthecashflowfromfinancingactivitiesbrokendownintoatleastthefollowing categories?• +Cashreceivedfromcapitalincreases(incl.sharepremium)• – Cash paid for capital reductions with release of funds• – Profitdistributionstoequityowners• +/–Purchase/saleoftreasuryshares/sharesintheorganization’scapital•+ Cash received from issuing bonds• – Repayment of bonds• +/–ssuance/repaymentofcurrentfinancialliabilities• +/–Issuance/repaymentofnon-currentfinancialliabilities• =Cashin/outflowfromfinancingactivities

Arethefollowingcontingentliabilitiesandothernon-recognizableobligations disclosedinthenotestogetherwiththeunderlyingvaluationprinciples?•Total amount of sureties, guarantee obligations and liens pledged to third parties•Otherquantifiablecontingentliabilities•Othernon-recognizableobligations,e.g.,lettersofcomfort,endorsementliabilitie

5 Off-balance-sheet transactions (Swiss GAAP FER 5)



47

48

49

6.2663gCO

6.3

6.6

Arethefollowingpointsdisclosedinthenotes?•Applicableaccountingandreportingstandards(especiallythevaluationbase appliedandvaluationprinciplesforindividualbalancesheetitems)

• Explanationsofothercomponentsofthefinancialstatements• Furtherinformationthathasnotyetbeenconsideredinotherpartsofthefinancial

statementsDisclosures on:•Cash and cash equivalent•Trade receivables• Inventories•Work in process•Property, plant and equipment•PPE held for investment purposes• Intangible assets•Financial assets • Securities

• Equityinvestments(shareincapital>20%) • Loans•Trade payables•Provisions•Other items

Areatleastthefollowingadditionalitemsdisclosedinthenotes?• Extraordinarypendingtransactionsandrisks(e.g.,litigation)•Subsequent events

Dothedisclosuresonvaluationmethodscontaindetailsofatleastthefollowing?•Valuation basis•Valuation principles for individual balance sheet items•Objectivereasonsforanydeviationsfromthechosenvaluationbasis• Reason,natureandfinancialimpactofanychangestoaprinciple• Explanationandamountoferrorsinpreviousfinancialstatements•Changes to estimates

6 Notes (Swiss GAAP FER 6)



50

51

6.7663bCO

663bCO

Comments

Isthefollowinginformationdisclosed?•Assets pledged and type of charge

relating to: • Property, plant and equipment • Financial assets • Intangible assets • Inventories • Securities • Cash and cash equivalents • Sundry•Disclosure of non-current liabilities including type and form of the collateral pledged•Liens•Retention of title•Collateral•Warranties•Sureties•Others

Arethefollowingitemsdisclosedinthenotes?•Liabilities to pension schemes•Amounts, interest rates and maturities of bonds issued by the company• Everyequityparticipationmaterialtotheassessmentofthecompany’snetassets

and results of operation• Detailsoftheobjectandamountofwrite-ups•Disclosures on performance of a risk assessment• Ifapplicable,thereasonsthatledtotheprematureresignationoftheauditfirm•Acquisition,disposalandnumberofownsharesheldbytheorganization•Amountofcontingentandauthoritzedsharecapitalincrease•Other disclosures required by law



SwissGAAPFER30

52

53

54

55

56

57

58

59

60

61

62

30.10

30.11

30.13

30.14

30.16

30.18

30.20

30.29

30.30

30.31

30.32

Isthecapitalshareofminorityinterestsdisclosedseparatelywithinequity?

Istheshareofminorityinterestsinprofit/lossdisclosedseparatelyinthe incomestatement?

Istheresultfromassociatesdisclosedseparatelyintheincomestatement?

Is goodwill disclosed under intangible assets in the balance sheet or separately inthenotes?

If acquired goodwill is offset against equity upon acquisition, is the theoretical impactofcapitalizingit(acquisitioncost,netbookvalue,usefullife,amortization) andofanyimpairmentpresentedinthenotes?

If it was offset directly against equity, was goodwill disclosed separately in the statementofchangesinequity?

Are currency effects on long-term intercompany loans that are equity by nature recordeddirectlyinequity?

Arethefollowingitemsalsodisclosedundercashflowfrominvestingactivities?• Cashpaidfortheacquisitionofconsolidatedorganizations(lesscashacquired)• Cashreceivedfromthesaleofconsolidatedorganizations(lesscashtransferred)

Arethefollowingitemsalsodisclosedundercashflowfromfinancingactivities?• Dividendstominorityinterests(ofsubsidiaries)•Capital contributions or repayments of minority interests

Ifapplyingtheindirectmethod,arethefollowingadditionalitemsdisclosed?•Share in losses as a result of applying the equity method•Share in gains as a result of applying the equity method

When valuing items at acquisition or production cost, does the statement of changes in property, plant and equipment disclose changes to the consolidated group and currency effects separately under cost and accumulated depreciation and impairment?

7 Consolidated financial statements (Swiss GAAP FER 30)



63

64

65

66

30.33

30.3430.230.330.430.4530.4630.50

30.35

30.35

Does the schedule of provisions show the changes to provisions as a result of currencydifferencesorchangestotheconsolidatedgroupseparately?

Arethefollowingitemsdisclosedinthenotes?•Disclosures on the basis of consolidation•Consolidation principles•Full consolidation takes place when the parent controls the subsidiary • aduetoamajorityofvotingrights(>50%) • forotherreasons(agreements,majorityonthecorporateboards)•Associates(20%to50%ofvotingrights,butnocontrol)arerecognized

using the equity method• Jointventuresare: • consolidated proportionately • consolidated using the equity method• Subsidiariesthatarenotmaterialonaggregateandcanbeexcludedfromfull

consolidation•Measurementbasisandprinciples•OtherissuesthathavetobedisclosedbasedonthisoranotherSwissGAAPFER

recommendation

Arethefollowingpointscoveredinthenotesontheconsolidatedgroup?• Treatmentoforganizationsintheconsolidatedfinancialstatements (methodofconsolidationapplied)

•Nameandregisteredofficeoftheconsolidatedorganizations (subsidiariesandassociates)

• Shareincapitaloftheseorganizations;shareinvotingrightsifdifferent from share in capital

•Changes in the scope of the consolidated group compared to the prior year, including date from which this change is considered

•Deviations from balance sheet date of the group

Arethefollowingpointscoveredinthenotesontheconsolidationprinciples?• Consolidationmethod,i.e.,applicationofthepurchasemethodforacquisition

accounting•Translation method used for amounts denominated in foreign currency

and treatment of translation differences• Treatmentofassociatesandjointventures• Treatmentofintercompanyprofits



67

68

69

70

71

72

73

74

75

76

30.3430.68

30.68

30.36

30.38

30.70

30.69

30.69

30.40

30.40

30.41

Isthegeneralvaluationbasisandanydeviationsfromitdisclosedinthenotes?

Arethevaluationprinciplesapplicableforindividualitemsdisclosed,ifrequired?

If offsetting goodwill against equity, do the notes include a presentation of how theoreticallycapitalizinggoodwill,includingamortizationandanyimpairment,would impact the balance sheet and income statement over the assumed useful life for the reportingperiodandprioryear?

Do the notes disclose the valuation method used for equity investments in organizationswithavotingrightsoflessthan20percent?

Isanygoodwillrecognizedwithregardtoassociatesdisclosedseparatelyin thenotes?

Issignificantbalancesheetinformationofnon-consolidatedparticipationsdisclosed inthenotesifthevalueoftheparticipationexceeds20percentofgroupequity) (e.g.,largeitems,realestate,contingentliabilities)?

Isthetaxrateusedtocalculatedeferredincometaxesdisclosedinthenotes?

Are receivables from and liabilities to associates disclosed separately in the balance sheetorinthenotes?

Withregardtofinancialassets,arenon-consolidatedparticipationsandreceivables from non-consolidated participations disclosed separately in the balance sheet or inthenotes?

Do the notes disclose the treatment of translation differences and their impact on theconsolidatedfinancialstatements?



77

78

30.43

30.43

Comments

Do the notes provide a breakdown of net revenue from goods and services by geographicmarketandbusinessarea?

Upon acquisition or sale of consolidated companies, are the most important componentsoftheirbalancesheetspresentedasoftheacquisitionordisposaldate?



SwissGAAPFER10–278 Inventories (Swiss GAAP FER 17)

79

80

81

82

83

84

17.217.11

17.217.29

17.8

17.18

17.617.28

17.6

Comments

Prepaymentsreceivedfromcustomerscanbenettedwithinventories.Ifthisisthe case, is the amount thereof disclosed as a separate item in the notes or in the balancesheet?

Are prepayments to suppliers either allocated to the corresponding subcategory of inventoriesordisclosedasatotalamount?

If material, are consumables and supplies disclosed separately as inventory in the balancesheetorinthenotes?

Do the notes state whether settlement discounts are disclosed as purchase price discountsorfinancialincome?

Is the carrying amount broken down into the most important items in the balance sheetorinthenotes?

Are the valuation principles and methods disclosed in the balance sheet or in thenotes?



9 Tangible fixed assets (Swiss GAAP FER 18)

85

86

87

88

89

90

18.2

18.218.22

18.2

18.15app.toFER 18

18.16

18.17

Areatleastthefollowingcategoriespresentedinthebalancesheetorinthenotes?• Undeveloped land• Land and buildings• Plant and equipment• Assets under construction• Other property, plant and equipment

Is plant and equipment and other PPE broken down further if there are additional materialassetcategories?

Arematerialprepaymentsforassetsunderconstructiondisclosedseparately?• In the balance sheet• In the notes

Do the notes contain a statement of changes in property, plant and equipment in tableform?• For the reporting year• For the prior year

If valuing on the basis of acquisition or production costs, does the statement of changesinPPEcontainatleastthefollowinginformationforeachcategory?Acquisition costs• Grossvaluesatthebeginningofthereportingperiod• Additions • Disposals• Reclassifications• GrossvaluesattheendofthereportingperiodAccumulated depreciation and impairment• Accumulated depreciation at the beginning of the reporting period• Depreciation• Impairment• Disposals• Reclassifications• Accumulated depreciation at the end of the reporting periodNet carrying amounts• Net values at the beginning of the reporting period• Net values at the end of the reporting period

AreitemsofPPEheldexclusivelyforinvestmentpurposesdisclosedseparately?• In the notes• Withinfinancialassets



91

92

93

94

95

18.18

18.19

18.2018.21

663bno.4CO

Comments

10.2

If measuring PPE at fair value, is the following information provided in the statementofchangesfixedassets?• Increases/decreases over the period for each asset category• The difference between the fair values and the original acquisition or

production cost as of the balance sheet date

If valuing items at fair value, are the valuation basis and principles for each categoryofPPEdisclosedinthenotes?

IsatleastthefollowinginformationonPPEdisclosedinthenotes?• Depreciation method• Range of depreciation period/useful lives• Explanationforeachcategoryiftherangeofusefullifeisrelativelylarge• Any change to a previously determined depreciation method• Financial impact of a change in depreciation method• Totalamountofcapitalizedinterestexpensesinthereportingperiod• Capitalizationbasisandprinciples

ArethefireinsurancevaluesofPPEoftheconsolidatedgroupdisclosedinthenotes?

If material, are at least the following categories disclosed in the balance sheet orinthenotes?• Licenses/franchises• Patents and technical know-how• Brands and publishing rights• Software• Development costs• Other intangible assets

10 Intangible assets (Swiss GAAP FER 10)



If there are further material categories, are other intangible assets broken downfurther?

Isanamortizationperiodofmorethan5years(butnomorethan20)justified and disclosed in the notes when the useful life of intangible assets cannot be determineddefinitively?

Isthefollowinginformationonintangibleassetsdisclosedinthenotes?• Estimated useful life • Amortizationmethod• Subsequentchanges,withfinancialimpactofapreviouslydeterminedusefullife• Financial impact of the change on the balance sheet and income statement

Isthestatementofchangesinintangibleassetsdisclosedintableforminthenotes?

Isthefollowinginformationdisclosedforeachcategory?Acquisition costs• Grossvaluesatthebeginningofthereportingperiod• Additions • Disposals• Reclassifications• GrossvaluesattheendofthereportingperiodAccumulated amortization and impairment• Accumulatedamortizationatthebeginningofthereportingperiod• Amortization• Impairment• Disposals• Reclassifications• AccumulatedamortizationattheendofthereportingperiodNet carrying amounts • Net values at the beginning of the reporting period• Net values at the end of the reporting period

96

97

98

99

100

10.2

10.8

10.910.10

10.12

10.13

Comments



101

102

103

104

13.4

13.513.11663bno.3CO

Comments

20.20

20.20

Comments

Arethefollowingamountsdisclosedseparatelyinthebalancesheetorinthenotes?• Carryingamountoftheleasedassetsfromfinanceleases•Total amount of associated liabilities

Are at least the following disclosures made in the notes for operating leases that are notcancelablewithinoneyear?•Total amount of future lease installments•Maturitystructureofleaseinstallments

Arematerialimpairmentlossesdisclosedseparately,withfinancialimpact,inthe incomestatementorinthenotes?

Arethefollowingeventsandcircumstancesexplainedinthenotes?Events• that triggered impairment• that triggered the reversal of an impairment

11 Leases (Swiss GAAP FER 13)

12 Impairment (Swiss GAAP FER 20)



105

106

107

108

109

110

111

112

23.10

23.10

23.11

23.11

23.11

23.12

23.12

23.13

Comments

Is the following information disclosed separately in the balance sheet or in the notes?• Tax provisions• Pension provisions• Restructuring provisions• Other provisions

If there are further material categories, are other provisions broken down further?

Does the company disclose a statement of changes in provisions containing the following information?• Carrying amount at the beginning of the reporting period• Additions to provisions• Utilization of provisions• Reversalofprovisionsthroughprofitandloss• Carrying amounts at the end of the reporting period

Is the statement of changes in provisions supplemented by a brief explanation of the nature of the obligation and extent of uncertainty for material provisions?

Is the discount rate disclosed if a provision is discounted?

How does the company distinguish between current and non-current provisions?

Is the amount of current provisions per category disclosed in the notes?

Ifthereareprovisionsthathavebeensetupduetospecificlegalrequirementsbut do not exhibit the economic character provided for by Swiss GAAP FER 23, are these explained in the notes?

13 Provisions (Swiss GAAP FER 23)



113

114

115

116

117

118

11.3

11.4

11.9

11.10

11.11

11.17

Comments

Isthecurrentincometaxexpensedisclosedinthefinancialstatements?

Areliabilitiesfromcurrentincometaxesdisclosedunderaccruedliabilitiesand othershort-termliabilities?

Arethefollowingitemsdisclosed?• Deferredincometaxliabilitiesasaseparatelinewithinprovisionsinthebalance

sheet or in the notes • Deferredincometaxassetsasaseparatelinewithinfinancialassetsinthebalance

sheet or in the notes

Isthedeferredtaxexpense(income)resultingfromperiodicchangesindeferred taxesdisclosedseparatelyintheincomestatement?

Aredeferredtaxassetsforunusedtaxlosscarryforwardsdisclosedinthenotes?

Aretaxprovisionsrecognizedinconnectionwithrevaluationsandwithoutanimpact on/profitlossdisclosedseparatelyinthenotes?

14 Income taxes (Swiss GAAP FER 11)



119

120

121

122

123

16.3

16.3

16.4

16.4

16.5

Areanyeconomicbenefitsrecognizedundernon-currentfinancialassetsas „assetsfrompensioninstitutions“.

Areanyeconomicobligationsrecognizedundernon-currentliabilitiesas „liabilitiestopensioninstitutions“.

Areassetsfromtheemployercontributionreservesrecognizedwithin non-currentassets?

Areemployercontributionreservesbrokendowninatableforeachofthefollowing:• Employer welfare funds/employer pension institutions• Pension institutionsDisclosingthefollowing?• Nominal value of the employer contribution reserve as of the balance sheet date• Amount of any waiver of use as of the balance sheet date• Amountofassetsatthebeginningofthereportingperiod(asoftheprior-year balancesheetdate)

• Creation/utilizationofemployercontributionreserve• Amount of assets at the end of the reporting period• Resultfromemployercontributionreservesaspartofpersonnelexpenseforthe

reporting period and prior year • Interestincomeorexpenseontheemployercontributionreservesiftheseare includedinthefinancialresult

Isthereatableshowingeachofthefollowingseparately:• Employer welfare funds/employer pension institutions• Pension institutions without a surplus• Pensioninstitutionswithoutadeficit• Pension institutions with a surplus• Pensioninstitutionswithadeficit• Pension schemes without own assetsAnddisclosingthefollowing?• Amountofthesurplus/deficitonthebalancesheetdate• Economicbenefitoreconomicobligationasofthecurrentandprior-yearbalance

sheet date• Changeintheeconomicbenefitoreconomicobligation(differencebetween disclosureoneachofthetwobalancesheetdates)

• Thecontributionsfortheperiod(includingresultfromemployercontribution reserve)withdetailsofextraordinarycontributionsinthecaseofanytemporary measures applicable to remedy gaps in coverage

• Thepensionbenefitcostwiththemostimportantparameters–aspartofpersonnel expense–forthereportingandprioryear

• Notesexplainingwhyanyeconomicbenefitorobligationisrecognizedinthe balance sheet

15 Pension benefit obligations (Swiss GAAP FER 16)



124

125

126

16.7

16.8

16.8

Comments

Aretheeconomiceffectsofsignificantdevelopmentssincethemostrecentsetof financialstatements(datednotmorethan12monthspreviously)takenintoaccount anddisclosedinthenotes?

Ifaffiliatedtoacollectiveplanandtheinformationtobedisclosedcannotbe determined on the basis of the individual contract, is this issue disclosed in the notesalongwithdetailsofcoverageofthecollectiveplan?

If part of a collective or multi-employer plan with reinsurance arrangements (e.g.,fullinsurancewithintheframeworkofacollectiveinsurancecontact),isthere a disclosure in the notes indicating that the pension institution is not the risk bearer andthereforethatnoadditionalpaymentobligationscanariseintheeventofadeficit?



127

128

129

130

131

132

133

Does the balance sheet disclose at least the following equity components (ifapplicable)?• Capitaloftheorganization• Capitaloftheorganizationthathasnotbeenpaidup(shownasaminusitem)• Capitalreserves(incl.sharepremium)• Ownshares(shownasaminusitem)• Retained earnings or accumulated loss• Total equity

Is a statement of changes in equity included as a separate component of the financialstatements?

Doesthestatementofchangesinequitycoverthefollowingperiods?• Reporting period• Prior period

Doesthestatementofchangesinequity(setoutasatable)presentthefollowing foreachofthemainequitycomponents?• Opening balance• Closing balance• Reconciliation between opening and closing balance

Are the following components disclosed separately in the statement of changes inequity?• Capitaloftheorganization• Capitaloftheorganizationthathasnotbeenpaidup(shownasaminusitem)• Capital reserves• Ownshares(shownasaminusitem)• Retainedprofits(partofretainedearnings)• Revaluationreserves(partofretainedearnings)• Anyothersignificantcomponents• Total equity

Istheamountofownsharesdisclosedseparatelyunderequityasaminusitem?

Does the statement of changes in equity present each movement of relevance for assessingthefinancialstatementsseparately?

16 Equity and transactions with shareholders (Swiss GAAP FER 24)

24.724.23

24.8

24.8

24.8

24.27

24.2

24.8



24.28

24.3

24.4

24.4

24.4

24.5

24.524.21

For each of the equity components set out above, are the following changes in equitydisclosedseparatelyinthestatementofchangesinequity?• Capital increases and decreases• Equity transactions• Acquisition of own shares• Sale of own shares• Netprofit/loss• Profitdistributions/dividends• Change in the revaluation reserves• Effect of changes in accounting and reporting principles• Effect of errors• Anyothersignificantitemsofprofitorlossinsofarasanotherrecommendation

allows or requires their recognition in equity

Is any gain or loss on the sale of own shares presented as an addition to or deductionfromthecapitalreserves?

Is capital paid in and other contributions and reductions credited to or debited from thecapitalreservesafterdeductingtheparvalueofanysharesissuedorrecalled?

Are government grants issued to public sector companies to absorb operating lossesrecognizedintheincomestatement?

Aredistributionsofaccumulatedearningschargedtoretainedearnings?

Are the costs of equity transactions incurred as a result of procuring (capitalincrease,saleofownshares)orredeeming(capitalreduction,purchase ofownshares)equityrecognizedasareductionincapitalreserves?

Is the effect of the deductible cost of a capital increase credited to the capital reservesbydebitingthetaxexpense?

134

135

136

137

138

139

140



24.9663bno.10CO

24.9

24.29

Isthefollowinginformationaboutownsharesdisclosed?• Thenumberandnatureofrecognizedownsharesatthebeginningandattheend

of the reporting period• The number, nature, average transaction price and average net selling price of own sharesacquiredanddisposedofduringthereportingperiod.Ownsharesissued inconnectionwithshare-basedcompensationaretobedisclosedseparately.

• Any contingent liabilities in connection with own shares disposed of or acquired• The number and nature of own shares of the parent company that are held by subsidiaries,jointventures,associatedcompanies,pensionfundsandrelated-party foundations

• The number, nature and conditions of own shares at the beginning and at the end ofthereportingperiodwhicharereservedforaspecificpurpose

• The number, nature and conditions of own shares at the beginning and at the end ofthereportingperiodwhichareheldbyrelatedparties(e.g.,foremployeestock compensationplansorconvertibleandoptionbonds)

Isthefollowinginformationaboutderivativesonownsharesdisclosed?• Thenumberandnatureofrecognizedderivativesonownsharesatthe

beginning and at the end of the reporting period• The number, nature, average transaction price and average net selling price of derivativesonownsharesacquiredanddisposedofduringthereportingperiod.

Derivatives on own shares issued in connection with share-based compensation aretobedisclosedseparately.• Any contingent liabilities in connection with derivatives on own shares disposed of or acquired• The number and nature of derivatives on own shares of the parent company that areheldbysubsidiaries,jointventures,associatedcompanies,pensionfundsand related-party foundations

• The number, nature and conditions of derivatives on own shares at the beginning andattheendofthereportingperiodwhicharereservedforaspecificpurpose

• The number, nature and conditions of derivatives on own shares at the beginning and at the end of the reporting period which are held by related parties (e.g.,foremployeestockcompensationplansorconvertibleandoptionbonds)

If applicable, does the company disclose the fact that the number of own shares/derivativesonownsharesheldbysubsidiaries,jointventures,associated companies,pensionfundsandotherrelated-partyfoundationsisnotknown?

141

142

143



24.10

24.11663b no. 11 CO

24.24

24.30

24.32

Is the following information about transactions with shareholders in their capacity as shareholders disclosed?• Description and amount of transactions with shareholders that were not settled

in cash or that were offset against other transactions• Reasons for applying a different valuation basis, and the basis itself, applied to

transactions with shareholders that could not be recognized at net selling price• The description of transactions with shareholders that were not conducted at

arm’s length, including the difference between the net selling price and the contractual price of the transaction that was recognized within capital reserves

Is the following information about equity components disclosed? • Number and nature of shares issued and paid in, per category of the capital of

the organization• Par values, per category of the capital of the organization• Rights and restrictions attached to the shares, per category of the capital of

the organization• Amount of contingent and authorized capital• Amount of reserves barred from distribution, legal reserves or reserves required

by the company’s articles of incorporation

Are shareholder loans disclosed under liabilities, event if they were granted by the shareholder on an interest-free basis and without fixed maturity but with the obligation of repayment?

Are obligations to repurchase own shares disposed of disclosed insofar as this transaction leads to the derecognition of own shares from the balance sheet?

Is the number of participation certificates and the related rights and restrictions disclosed?

144

145

146

147

148



663cno.1 and 2 CO

Comments

Forcompanieswhosesharesarelistedonastockexchange,arethefollowing disclosuresmadeinthenotestothebalancesheet?• Significantshareholders(shareholdersandgroupsofshareholderslinkedthrough votingrightswhoownmorethan5percentofallvotingrights.Wherethearticles of association provide for a lower percentage threshold for registered shares, that thresholdappliesforpurposesofthedutyofdisclosure)

• Participationofsignificantshareholders

149



22.822.2822.29

22.6

Comments

Are the following details and values disclosed in the notes, unless already shown in thebalancesheetorintheincomestatement?• Accounting principles applied to long-term contracts• Methodapplied: • Percentageofcompletionmethod(POCM) • Completedcontractmethod(CCM)• Revenuerecognitiontotheextentofrecoverableexpenses(withoutrealizing anyprofit)

• Methodusedtodeterminethedegreeofcompletionoflong-termcontracts accountedforunderPOCM

• Amountofrevenuerecognizedintheperiodfromlong-termcontracts accountedforunderPOCM

• Capitalizedborrowingcost,ifany,andhowtheyweredetermined• Specificbalancesheetitemsrelatedtolong-termcontractssuchas: • ReceivablesfromPOCMcontracts • Inventories • Work in progress • PrepaymentsreceivedfromcustomersforPOCMcontracts • Other items • Prepayments received in connection with long-term contracts

Ifaclawbackrightexists,areprepaymentsreceiveddisclosedasliabilities?

150

151

17 Long-term contracts (Swiss GAAP FER 22)



18 Related party transactions (Swiss GAAP FER 15)

152

153

154

155

156

15.3

15.9

15.5

15.315.11

15.10

Comments

Areallsignificanttransactionsandtheresultingreceivablesfromorpayablesto relatedpartiesdisclosed?

Areatleastthefollowingmatters/transactionsdisclosed?• Purchasesandsales(includingitemsoffixedassets)• Commission and licensing agreements• Financing• Rendering or receipt of services and know-how• Rental or lease agreements• Transfer of research and development• Guaranteesandcollateral• Property transactions with own pension institutions

Aretransactionswithrelatedpartieswithoutaconsideration(e.g.,provisionof know-howorthetransferofresearchanddevelopment)disclosed?

Dothefinancialstatementsdiscloseatleastthefollowing?• Description of transaction• Volumeoftransaction(generallyamountorproportion)• Othersignificantterms/conditions• Identity of the related party if this is necessary to understand the transaction

Thefollowingtransactionsdonotqualifyasrelatedpartytransactions.ArethesethereforeNOTincludedinthedisclosures?• Ordinary compensation of related parties from their normal activities as employeesorasspecificallyappointedbodies

• Ordinary contributions to pension institutions



19 Derivative financial instruments (Swiss GAAP FER 27)

157

158

159

160

161

27.8

27.8

27.18

27.20

27.21

Comments

Do the notes contain disclosures on the amount of open derivatives, broken down intothefollowing?• Interest rates• Foreignexchange• Equity instruments and corresponding indices• Other underlying values

Arethefollowingdetailsdisclosedforeachcategoryofopenderivatives?• Total assets• Total liabilities• Purpose of holding derivatives

Arechangesincashflowhedgesdisclosed?Where?• Directly in equity• Inthenotes(measurementofderivativeinlinewithunderlying)

Ifderivates,asanexception,cannotberecognizedatfairvalues,howarethey treated?

• Disclosed separately • Reasonsprovidedexplainingwhythefairvaluecannotbedetermined

Is the total fair value of derivatives disclosed in the notes reconciled to the amounts recognizedinthebalancesheetbyshowingtheimpactofnetting?



SwissGAAPFER1220 Interim reporting (Swiss GAAP FER 12)

162

163

164

165

166

12.2

12.3

12.9

12.512.15

12.8

Ifanorganizationpublishesconsolidatedannualfinancialstatements,doesitalso publishitsinterimreportinginaconsolidatedform?

Arethefollowingdisclosuresmadeforthereportingperiodandthepriorperiod?• Condensed income statement • Condensed opening balance sheet for the reporting period • Condensed closing balance sheet for the reporting period• Thecondensedincomestatementandbalancesheetincludeatleastthemajor captionsandsubtotalsthatwerereflectedinthemostrecentannual financialstatements

Forallitemsinthereportingyear,includingnon-financialitems,arethe correspondingprior-yearfigurespresented?

Does the interim report contain notes on the following developments in activities and businessdevelopment?• Explanationofchangesinaccountingprinciplesandimpactthereof• Referencetofactorsaffectingthenetassets,financialpositionandresultsof operationsoftheorganizationduringthereportingperiod,including:

• Restructuring • Impairment • Changes in the consolidation process • Pendingsignificantlegalproceedings • Majorproductlaunches • Changes in the capital structure • Extraordinarydevelopmentsinfinancialincome/expense • Changes in liquidity• Extraordinaryincomeorexpense,withfiguresiftheyhaveasignificantimpact onprofitorloss

• Acomparisonwiththecorrespondingperiodofthepriorfiscalyear• Disclosure of any material events occurring after the interim balance sheet date• Dothenotescommentontheoutlookforthecurrentfiscalyear

DoestheinterimreportmentioncompliancewithSwissGAAPFER12?



Areexplanationsprovidedaboutanyseasonalityaffectingearningsinthereporting period,including,ifpossible,quantifiedeffects?

To improve comparison with the reporting period, is reference made to factors affectingthenetassets,financialpositionandresultsofoperationsofthe organizationduringthereportingperiod?

167

168

12.14

12.15

Comments



SwissGAAPFER1421 Consolidated financial statements of insurance companies (Swiss GAAP FER 14)

169

170

171

172

173

14.1

14.15

14.2

14.3

14.3

Arethefollowingcomponentsincludedintheconsolidatedfinancialstatements?• Balance sheet • Income statement • Cashflowstatement• Notes

Istheincomestatementclassifiedasfollows?• Technical section • Technical account for non-life insurance business • Technical account for life insurance business • Non-technical(financial)section

Istheincomestatementbrokendownatleastasfollows?• Non-life insurance business • Life insurance business

Arethefollowingassetitemsdisclosedseparatelyinthebalancesheet?• Investments • Investmentsforthebenefitoflifeinsurancepolicyholderswhobearthe

investment risk • Intangible assets • Other assets/property, plant and equipment • Receivables • Cash • Prepayments and accrued income

Arethefollowingequity/liabilityitemsdisclosedseparatelyinthebalancesheet?• Equity • Capitaloftheorganization• Capital reserves • Capitaloftheorganizationthathasnotbeenpaidup(shownasaminusitem)• Ownshares(shownasaminusitem)• Revaluation reserves • Retained earnings • Profit/loss• Minorityinterests• Liabilities • Provisions for actuarial risks • Provisions for life insurance policies where the investment risk is borne by the

policyholders • Provision for future policyholder dividends • Non-technical(financial)provisions• Deposits received from re-insurers



• Subordinated liabilities • Bonds • Other non-current liabilities • Other current liabilities • Accrued liabilities and deferred income

Arethefollowingitemsdisclosedseparatelyinthebalancesheetorinthenotes?Receivables:• Receivables from policyholders • Receivables from intermediaries and agents • Receivables from insurance companies • Receivables from non-consolidated companies and other related partiesIntangible assets:• GoodwillInvestments and investments for the benefit of life insurance policyholders who bear the investment risk:• Land and buildings • Participations • Loans from non-consolidated companies and other related parties • Shares • Own shares • Fixed-rateanddebtsecurities• Mortgages• Time deposits and similar investments • Other investments • Funds deposited with ceding companiesOther assets:• Start-upandexpansionexpensesTotal provisions for actuarial risks:• Grossamount• Re-insurer’sshare• Amount for own accountNet provisions for actuarial risks (amount for own account) are further separated into:• Provision for unearned premiums • Life insurance provision • Provision for claims outstanding • Mandatoryequalizationprovision• Provision for credited policyholder dividendsNon-technical (financial) provisions:• Incometaxes• Pension provisionsNon-current liabilities: • Liabilities to non-consolidated companies and other related parties

174 14.4



Current liabilities:• Due to creditors arising from insurance transactions • Liabilities to non-consolidated companies and other related partiesCapital of the organization:• Amount of shares in each share category

Are provisions for potential losses and aging reserves for the non-life insurance businesstreatedasfollows?• Added to the provision for unearned premiums • Disclosed separately

If one or several group companies are required by regulatory provisions to createanequalizationprovision,isitdisclosedseparately?• In the consolidated balance sheet • In the notes

If a distinction between receivables from policyholders and receivables from intermediaries is practically impossible, are these receivables disclosed togetheranddescribed?

Are at least the following items disclosed separately in the consolidated incomestatement?Technical account for non-life insurance business:• Grosspremiumsaccountedfor• Outward re-insurance premiums • Net change in provision for unearned premiums • Technical income • Other technical income • Claims paid • Change in the provision for claims outstanding • Expensearisingfrompolicyholderdividends• Technical cost • Other technical cost • Balance on the technical account for non-life insurance businessTechnical account for life insurance business:• Grosspremiumsaccountedfor• Outward re-insurance premiums • Net change in provision for unearned premiums • Other technical income • Claims paid • Change in the provision for claims outstanding • Change in life insurance provision • Technical cost • Other technical cost

175

176

177

178

14.16

14.17

14.18

14.5



• Expensearisingfrompolicyholderdividends• Investment income • Investmentexpense• Allocated investment return transferred from/to the non-technical account • Unrealizedgainsoninvestmentsforlifeinsurancepolicyholderswhobearthe

investment risk • Unrealizedlossesoninvestmentsforlifeinsurancepolicyholderswhobearthe

investment risk • Balance on the technical account for life insurance businessNon-technical (financial) section of the income statement: • Investment income • Investmentexpense• Allocated investment return transferred from/to the technical account for life

insurance business • Technical interest for non-life insurance business • Otherfinancialincome• Otherfinancialexpense• Extraordinaryincome• Extraordinaryexpenses• Profit/lossbeforeincometaxes• Incometaxes• Profit/lossallocabletominorityshareholders• Profit/loss

Are differences arising from foreign currency transactions disclosed under the captions„otherfinancialincome“or„otherfinancialexpense“?

Arethefollowingitemsdisclosedseparatelyintheincomestatementorinthenotes?Change in provision for unearned premiums, claims paid, change in claims outstanding, change in life insurance provision and technical expense, for:• Grossamount• Re-insurer’sshare• Amount for own accountInvestment income:• Income from land and buildings • Income from non-consolidated interests • Income from loans from non-consolidated companies and other related parties • Income from securities • Other investment income • Interest income on amounts deposited • Income from revaluation of investments • Gainsonthedisposalofinvestments

179

180

14.19

14.6



Investment expense:• Administrativeexpense• Interestexpense• Depreciation/amortizationofinvestments• Losses on the disposal of investments

Is the basis for the transfer of investment returns to or from the non-technical account/life insurance technical account or non-life insurance technical account disclosedinthenotes?

Istheceded(indirect)lifeinsurancebusinessdisclosedinthenon-lifeinsurance technicalaccount(providedthatthere-insurerdoesnotunderwritedirectlife insurancebusiness)?

Is the gross amount of the technical cost allocated according to appropriate criteria(e.g.,origin,functionsortypeofcost)?

Aredeferredorcapitalizedacquisitioncostdisclosedinthenotes?

Are buildings occupied by the insurance company for its own activities disclosed separatelyifnoadequateownrentischarged?

Dothenotesshowthedevelopmentofgrossvaluesforthefollowingitems?• Intangible assets • Land and buildings • Non-consolidated companies • Loans to other related parties

Aregrosspremiumsbrokendownbyinsuranceclassandgeographicalarea?

181

182

183

184

185

186

187

14.6

14.7

14.8

14.9

14.10

14.12

14.13



Are gross premiums disclosed separately for each of the following groups of classes?Non-life• Accident and health • Motor• Marine,aviationandtransport• Fire and other damage to property • Third-party liability • Credit and surety • MiscellaneousLife• Life insurance • Life insurance where the investment risk is borne by the policyholdersRe-insurance acceptances• Life insurance • Non-life insurance

If investments are shown at fair value, is the historical cost for the individual itemsdisclosedinthenotes?

Ifinvestmentsarevaluedbasedontheirhistoricalcost(acquisitioncostorproductioncost),isthefairvalue(marketvalueorreplacementcost)fortheindividualitemsdisclosedinthenotes?

Arethefollowingrecommendationsfollowedforrecordingrealizedandunrealizedgainsoninvestmentsandrevaluationreserves?• EIf investments valued at current value show an increase over their historical

cost, then this increase in value must be allocated to the revaluation reserve with no effect on the income statement

• Anyincreaseinvalue(comparedtothehistoricalcost)arisingfromthe realizationofaninvestmentmustbebookedasprofitfromthesaleof investments(capitalgains)

• If investments valued at current value show a decline over their historical cost, thenthecorrespondingdevaluationmustbedisclosedasanexpensefor investments in the income statement for those investments where the preconditions or indicators for impairment are given

• If an increase over historical cost was recorded for this investment valued at current value in a previous accounting period, then the revaluation reserve must be debited by the difference between the previous current value and the historical cost

• Istheamortizationrecognizedasnegativechangeoftherevaluationreserve onfinancialassetsaswellasthereleasednegativerevaluationreserveasa consequenceofdisposaldisclosedseparately,foreach.

(Thisalsoappliestointerimfinancialstatements.)

188

189

190

191

14.13

14.22

14.22

14.26



• WIs the negative change of the revaluation reserve in connection with disposals disclosedseparately?(Thisalsoappliestointerimfinancialstatements)

Iftheamortizedcostmethodisusedforfixed-incomeinvestments(bonds, debtsecurities,loans),istheproratadifferenceallocatedtoinvestment incomefromsecurities?

Is the market value for these investments, which are also measured using the amortizedcostvaluemethod,alsodisclosedinthenotes?

Areallowances,depreciation/amortizationandothervalueadjustmentswhich werepostedtoprofitandlossasanexpenseinthepreviousyearbutareno longernecessaryasofthebalancesheetdatereleasedtoprofitandlossas incomeinthecurrentyear?

If there are different local supervisory regulations, is the application of different principles for the measurement of different acquisition costs and the provisions foractuarialrisksdisclosedinthenotes?

Is any discounting of provisions for claims outstanding for the non-life insurance businessdisclosedinthenotes?

Ifthecashflowfromoperatingactivitiesispresentedusingtheindirectmethod (basedontheconsolidatedfinancialstatements),areatleastthefollowing itemsdisclosedseparately?• Thedepreciationandamortizationof • Investments • Land and buildings • Non-consolidated companies • Loans to other related parties • Intangible assets• Theincreaseanddecrease(netchange)inthefollowingitems: • Provisions for actuarial risks • Provision for credited policyholder dividends • Provision for future policyholder dividends • Receivables arising from insurance transactions • Liabilities arising from insurance transactions • Non-technical(financial)provisions • Prepayments and accrued income • Accrued liabilities and deferred income

192

193

194

195

196

197

14.27

14.27

14.28

14.33

14.34

14.35



Isthecashflowfrominvestingactivitiesshownseparatelyforatleastthe followingitems?• Investments • Land and buildings • Non-consolidated companies • Loans to other related parties • Intangible assets

Forthecashflowfromfinancingactivities,istheincreaseordecreasein financialliabilitiesshownseparatelyandonagrossbasis?

Dotheinsurancecompaniesdefinecashandcashequivalentsasfund?

Ifaninsurancecompanythatpublishesconsolidatedannualfinancialstatementscannot present an interim report in a consolidated form, is the basis for the reported figuresanddisclosuresexplained?

Ifaninsurancecompanydoesnotpresentinterimpremiumandresultfigures on an accrual basis, does it at least disclose the written premiums separately by non-life business and life business and according to the most important geographicalmarkets?

Arefiguresandexplanationsdisclosedforactuarialexpenses,inparticular insuranceclaimsandtechnicalexpenseandforthenon-technicalaccount(profitandlossoninvestments?

198

199

200

201

202

203

14.36

14.37

14.38

14.42

14.43

14.43

Comments



SwissGAAPFER21

204

205

206

207

208

Definition

Definition

21.3

21.5

21.5

21.6

21.8

Arethefollowingcriteriaofacharitable,socialnon-profitorganization(NPO) met,regardlessoflegalform?Theorganizationllt?• Provides services in the interest of the general public, in particular services of

charitable nature, independent from the claims of third parties and/or members• Raisesfundspubliclyfromanundefinednumberofdonors • Receivescontributions(withoutaconsideration)• Receives restricted contributions from public authorities Doesthecompanyqualifyasalargenon-profitorganizationbyattainingtwoof thefollowingthresholdsattwoconsecutivebalancesheetdates?• TotalassetsofCHF2million• Proceedsfrompublicfundraising(donations,legacies)andrestricted contributionsfrompublicauthoritiestotalingCHF1million

• Tenfull-timeequivalentsofsalariedemployeesonaverageinafiscalyear

Providedthattheydonotmeetthesizecriteriaintwoconsecutiveyears, small-sizedorganizationsmayrecognizeexpenseandincomeonacashbasis. Ifso,isthistreatmentdisclosedinthenotes?

Havedeviationsfromtheconceptofconsistencyinpresentation,disclosure andvaluationbeendisclosedinthenotes?

Havedeviationsfromtheconceptofconsistencyinpresentation,disclosureandvalu-ationbeenquantifiedanddisclosedintheconsolidatedfinancialstatements?

Forprojectsthatareorganizedseparately,istherelevantexpenseandincome presentedatgrossamounts?• In the income statement• In the notes

Arecomparativefiguresincludedintheindividualaccountsandinthe consolidatedfinancialstatementsforthefollowingfigures?• Reporting period• Prior-year period

22 Accounting for charitable, social non-profit organizations (NPOs) (Swiss GAAP FER 21)



209

210

211

212

213

214

215

21.9

21.1121.46

21.46

21.10

21.45

21.13

3.221.1421.1521.1621.1721.1821.1921.49app.1

Are the valuation principles and accounting treatments applied to individual items in thefinancialstatementsdisclosedinthenotestothefinancialstatements?

Doesthenon-profitorganizationeffectivelycontrolanotherorganizationand, asaresult,prepareconsolidatedfinancialstatementsaccordingtothe recommendations? Doescontrolmainlyrelateto:• Majorityofvotingorcapitalrights• Controloverthemajorityofthedirectors/trustees• Contractual or statutory requirements

Iforganizationsareexcludedfromthescopeofconsolidationsoasnottoimpairtheinformativevalueoftheconsolidatedfinancialstatements,arethoseorganizationsrecognizedintheconsolidatedfinancialstatementsusingtheequitymethod?

Arethefollowingdisclosuresmadefororganizationsexcludedfromconsolidation?• Nameoftheorganizationexcludedfromfullconsolidation• Reasonfortheexclusionfromfullconsolidation Arethefollowingcomponentsincludedinthefinancialstatements?• Balance sheet• Income statement• Cashflowstatement(onlymandatoryforlargeorganizations)• Statement of changes in capital• Notes• Performance report Isthebalancesheetclassifiedasfollows?ASSETS • Current assets •Cash and cash equivalents •Securities •Trade receivables •Other current receivables • Inventories •Prepayments and accrued income



• Non-current assets •Property, plant and equipment •Financial assets • Intangible assets •Restricted assets EQUITY AND LIABILITIES • Current liabilities •Financial liabilities •Trade payables • Other liabilities •Current provisions •Accrued liabilities and deferred income • Non-current liabilities •Financial liabilities •Other liabilities •Non-current provisions• Restricted funds •Restricted income funds •Restricted capital and endowment funds • Capitaloftheorganization •Paid-in capital •Revaluation reserves • Internally generated unrestricted capital •Unrestricted capital • Internally generated designated capital • Surplus/deficitfortheyear Is the income statement prepared in accordance with the recommendation (especiallySwissGAAPFER3)andhaveappropriatetermsbeenselectedfor theorganization‘sactivities?

Accordingtowhichmethodistheincomestatementprepared?• Natureofexpensemethod• Functionofexpensemethod

Istheincomestatementstructuredinaccordancewithappendix2of SwissGAAPFER21??

Does the income statement at least differentiate between restricted and unrestrictedfunds?

216

217

218

219

21.2221.53

21.223.7

21app.2

21.23



Arechangesinrestrictedfundsdisclosedintheincomestatement?• Separately• Gross

Doestheresultoftherestrictedfundscontainincomeandexpenseforthese fundsseparately?• Income• Expense Areadministrativeexpensesdisclosedseparately,regardlessofhowtheincome statementispresented(function/natureofexpense)?

Ifusingthefunctionofexpensemethod,istheincomestatementpresented basedonthepurposeoftheorganizationandclassifiedasfollows?Broken down into: • Cost center• Projects• Tasks• Purposes• Etc. Isacashflowstatement(esp.pursuanttoSwissGAAPFER4)preparedand disclosed, using appropriate terms for the purpose and activity of the charitable,socialnon-profitorganization?

Isthecashflowfromoperatingactivitiesbrokendownintoatleastthe followingcategories?• Cashflowfromservicesrendered(thirdparties)• Fundraising campaigns

Doesthecashflowstatementpresentthecashflowfromthefollowingareas?• Operating activities• Investing activities• Financing activities

220

221

222

223

224

225

226

21.24

21.54

21.26

21.26

21.2721.2821.55app.3

21.2821.56

21.29



Does the statement of changes in capital present the following information (separatelyforthecapitaloftheorganizationandrestrictedfund)?• Allocation• Utilization• Opening and closing balances

Arethechanges(openingbalanceplusadditionslessreductionsequalsthe closingbalance)disclosedseparately?• Forrestrictedfunds(forspecificpurposes)• For the paid-in capital• For the internally generated unrestricted capital Isinformationprovidedaboutthepurposeofrestrictedfunds?

Are transfers between the funds disclosed separately in the statement of changesincapital?

Arethereasonsforthetransfersdisclosedinthenotes?

Isthefollowinginformationdisclosedinthenotes?• Accounting and valuation principles applies• Notes to the balance sheet• Notes to the income statement• Notestothecashflowstatement• Notes to the statement of changes in capital Istheremunerationoftheexecutivebodies(directors/trustees) (e.g.,personnelcost,bonuses,out-of-pocketexpenses)disclosed?

227

228

229

230

231

232

233

21.30app.4

21.31

21.31

21.32

21.32

21.34

21.36



Arethefollowingitemsdisclosedseparatelyinthebalancesheetorinthenotes?• Cash and marketable securities • Amountofmarketablesecurities(valuedatmarketvalues)• Receivables • Receivablesfromcommunityorganizations •Receivables from related parties (organizations/individuals/projects/institutions)

• Prepayments and accrued income • Paymentsforprojectsrelatingtothenewaccountingperiod• Investmentsandrestrictedinvestments(financialassets) •Marketablesecurities(valuedatmarketvalues) •Receivables from related parties (organizations/individuals/projects/institutions)

• Liabilities • Fromprojects • Duetocommunityorganizations• Other liabilities • Financialcontributionstohelpcoverdeficits •Self-insurance for property damage • Duetothirdparties,arisingfromownprojects• Provisions •Changes in provisions including the declaration of the purpose (openingbalanceplusadditionslessreductionsequalsclosingbalance)

• Capitaloftheorganization •Disclosure of paid-in capital •Names of the donors of the paid-in capital • Committed/designated capital •Statutory and legal reserves • Reservesforspecificpurposes• Unrestricted capital •Operating reserves • Equalizationreserves •Reserves from unspent fundraising campaigns • Unrestrictedcapital(funds) • Generalreserves• Contingent liabilities• Further information to be disclosed in accordance with the laws Istheexpenseforfundraisingcampaigns(e.g.,advertising,establishingdonorfiles,campaignsorsimilaractivities)disclosedseparately?• In the income statement• In the notes

234

235

21.37

21.38



Iftheincomestatementhasbeenpresentedaccordingtothefunctionofexpensemethod,isthecostofrenderingservices(directexpenditureandadministrativeexpenditure)disclosedinthenotesunderthefollowingcaptions?• Personnelexpenses• Travel and representation • Non-personnelexpenses• Maintenance• Fundraising• Amortization/depreciation

Aresignificantservicesrenderedfreeofchargedisclosedinthenotes (basedonfairvalues/estimatesorstatistics)?• Goodsorservicesrenderedwithoutconsideration• Services rendered at preferential discounts or voluntarily• Gifts-in-kind• Special discounts• Other favorable conditions and discounts

If goods or services are rendered fully or partially free of charge, are they reportedatapriceforarm‘slengthtransactions? Ifgoodsorservicescanonlybevaluedatanexcessivelyhighcost,isthevolumedisclosedstatistically?

Areallmaterialliabilitiesconcerningprojectsdisclosedinthebalancesheetor inthenotes?

Forconsolidatedprojects,areincomeandexpenseaswellastherelevantfundsdisclosedinthenotes?

Dothenotesdisclosetransactionswithrelatedparties(pursuanttoSwissGAAPFER15)?• Withorganizationsthatareseparatelegalentities• Withrelatedparties(companies)• Withrelatedparties(persons)• Projects

236

237

238

239

240

241

242

21.38

21.3921.57

21.57

21.57

21.40

21.40

21.4121.58



Doestheperformancereportdisclosethefollowing?• Thepurposeoftheorganization• Thedirectors/trusteesandtheirtermsofoffice• The individuals responsible for management • Connections to related parties if these details are not contained in the notes • Thelegalobjectivesandadescriptionoftheservicesrenderedwithregardto theobjectivesaswellastheuseoftheavailablefunds

Doestheperformancereportalsocontaindetailsofthefollowingaspects?• Anassessmentofthesatisfactionofthebeneficiariesoftheservices• A description of the future services planned • Information on how to measure and assess the achievement of the qualitative objectivesoftheorganization

• Meaningfulperformanceindicatorsfortheachievementoftheobjectives,ina multiple-year comparison, if possible

• Themainrisksthattheorganizationfacesaccordingtotheassessmentofthe directors/trustees as well as any systems in place to control these risks

243

244

21.43

21.60

Comments



SwissGAAPFER2623 Accounting of pension plans (Swiss GAAP FER 26)

245

246

247

248

Definition

26.2

26.2

26.2

26.13

Thestandardappliestothefollowingtypesofpensioninstitutions:• Pensionplanscoveringorfinancingmandatoryand/ornonmandatorybenefits foraccountofoneormoreinterrelatedemployers(pensionplanswithstatutorybenefits,registeredornonregistered,employers’pensionfoundationsand funds).

• Pensionplanscoveringorfinancingmandatoryand/ornon-mandatorybenefits foraccountofseveraleconomicallyandfinanciallyunrelatedemployers (collectiveandgrouppensionplans,pensionplansforprofessionalortrade associations).

• Pensionplansinvestingassetsforaccountofinsuredparticipants(termination benefitinstitutions,3aPillarfoundations)

• Collective investment units• Substitute pension plan• Guaranteefund Arethefollowingcomponentsdisclosedinthefinancialstatementsofa pensioninstitutionasdefinedbySwissGAAPFER26?• Balance sheet• Income statement• Notes• Prior-yearfigures

Dothefinancialstatementsincludethefollowingdisclosures?• Amountofreserveforfluctuationsinassetvalue• Non-committed funds or underfunding• Theexcessofincomeoverexpense(incomesurplus)fortheperiodorviceversa

Istheincomesurplusonlyrecognizedifthereserveforfluctuationsinassetvaluehasattainedthetargetvalue?

ncrease/decrease in non-committed funds or underfunding, and in the reserve forfluctuationsinassetvalue:• Isanegativeamount(underfundingpursuanttoArt.44BVV2/OPP2) disclosediftherearenolongeranyreservesforfluctuationsinassetvalue?

• Is any change in non-committed funds or underfunding posted via the income surplusorexpensesurplus(positionZ)?

• Are the effects of a partial liquidation on the non-committed funds or underfunding, or of a transfer to non-committed funds following the takeover of beneficiarygroupsdisclosed?

• Intheincomestatement(itemP/QorK) • Inthebalancesheet(itemJ)



• Arethefollowingissuesdiscussedinthenotes? • InitemIX:Distributioncriteriaincaseofpartialliquidation • InitemV:Transferfollowingthetakeoverofbeneficiarygroups

Pensionplanwithguaranteefrompublicentitiesincaseofunderfunding:• Assuchinstitutionsarenotentitledtorecognizereservesforfluctuationsin

asset value in the balance sheet, does the pension institution disclose a target valueforthereserveforfluctuationsinassetvalueinthenotes?

Asset valuationAre the valuation methods and their core components disclosed in the notes (itemIV)?• Assets must in principle be stated at market values as of the balance sheet date• Realestate(basedonexpectedprofitsorcashflows,consideringarisk-weightedcapitalizationrate,orbycomparisonwithsimilarpropertiesorapplyinganyothergenerallyacceptedmethod)

• Otherassetsnotregularlytradedinthemarket(basedonexpectedprofitsor cashflows,consideringarisk-weightedcapitalizationrate,orbycomparison withsimilarpropertiesorapplyinganyothergenerallyacceptedmethod)

• If the fair value of any given asset is unknown or cannot be determined, is a disclosuremadestatingthattheacquisitioncostnetofanyidentifiablelosses invaluewillbeappliedbywayofexception?

Valuation of liabilities• Arepensionliabilitiesandactuarialreserves(itemH)valuedinaccordance

with a method provided under Swiss occupational pension legislation (BVG/LPP,FZG/LFLP)anddisclosedaccordingly?

•Statical method • Dynamicmethod(seeSwissGAAPFER16• If a dynamic valuation method is adopted because pension liabilities and actuarial reservesarethusrecognizedathighervalues,aretheminimumamountsunderlawalsodisclosedinthenotes?

Is the valuation and calculation basis for assets and liabilities disclosed and consistentlyapplied?

Arechangesinthisbasisandtheeffectsofsuchchangesonthefinancial statementsdisclosedinthenotes?• Byshowingtheirimpactonthereportingyear?• Byrestatingthefiguresfortheprioryear?

249

250

251

252

26.13

26.14

26.15

26.5



Presentation of the financial statements taken as a whole• Is the additional information assessed as significant disclosed? • In the notes (preferred method) • In the balance sheet and income statement• Are just main items disclosed if the aggregate value of their subpositions is not

significant or if there is little explanatory value?• Are the main positions A to Z and Roman numerals I to X indicated even if they only

contain small amounts and short explanations?

Classification of the balance sheet ASSETSA Investments • Are investments presented consistently with the prior year? The balance sheet can be broken down as follows (example): • Shares • Shares in collective investment units and mutual funds • Participations • Cash and marketable securities • Mortgage loans • Real estate • Bonds • Securities • Other investments • Are investments with the employer disclosed separately, stating all

components (receivables, participations etc.)? • In the case of simple investment concepts with few individual investments, are

the following disclosed in the notes? • Category (shares, real estate, etc.) • Actual investments (e. g. mixed assets of investment fund xy, apartment

building Y Street, location) • Does the item investments with the employer include all investments in legal

or natural persons that are economically or financially tied to the employer? B Prepayments and accrued income

253

254

26.16

26.726.17



C Assets from insurance contracts • Istheredemptionvalueofcollectiveinsurancecontractspresented? • Inthebalancesheet(voluntarily) • In the notes • C/D/HAssetsandliabilitiesfrominsurancecontracts Does this heading present information on the items below – if they can be

recognizedinthebalancesheetoraremandatory(article71(2)BVG/LPP)? • Insurance contracts with redemption value •Separate accounts •Policy loans •Other contractual relationships with insurance companies • Irrespectiveofwhethertheyarerecognizedinthebalancesheet,arethese

contractualrelationshipsdisclosedinsectionVofthenotes? EQUITY AND LIABILITIESD Liabilities • Terminationbenefitsandpensions • Banks/insurance • Other liabilities E Accrued liabilities and deferred income F Employer-paid contribution reserve •Contribution reserves without renounced use •Contribution reserves with renounced use • Are subcategories only disclosed in the case of contribution reserves with

renounceduse? • Are additions and withdrawals stated at gross amounts in the income

statement? • Areadditionsandwithdrawalsexplainedwithdetailsofinterestratesinthe

notes(positionVI)? • If an employer has signed a commitment not to use the contribution reserve

(renounceduse),isaseparatedisclosuremadeforthecorrespondingamount? • Aredetailsoftherenounceduse(renunciationterms,amendmentsand

revocation)explainedinthenotes(itemV)? G Non-actuarial provisions H Pension liabilities and actuarial reserves • Activeparticipants‘liabilities • Pensioners‘liabilities •Liabilities under insurance contracts •Actuarial reserves • If there are several plans, is the distribution of pension liabilities and actuarial

reservesdisclosedinthenotes?



I Reserveforfluctuationsinassetvalue • Isthetargetvaluereportedinthenotes(itemVI)? J Endowmentcapital,non-committedfunds/underfunding • +/–Balanceatthebeginningoftheperiod • +/–Increase/decreasefrompartialliquidation(unlessrecognizedunderP/Q) • +/–Transfersfollowingtakeoverofbeneficiarygroups(unlessrecognized

underP/Q)

Z +/–Incomesurplus/expensesurplus • =Balanceattheendoftheperiod • Ifthefoundationhasanendowmentornominalcapital(e.g.,inthecaseof

cooperatives),isthisreportedseparatelyunderitemJ(voluntarydisclosure)?

Istheincomestatementsstructuredusingthefollowingclassification? K +Ordinaryandothercontributionsandtransfers • +Employeecontributions(riskpremiumscanalsobedisclosedseparately) • +Employercontributions(riskpremiumscanalsobedisclosedseparately) • +Contributionsfromthirdparties • +Additionalemployeecontributions • +Additionalemployercontributions • +One-timepaymentsandpurchaseamounts • +Employees’solvencycontributions • +Employers’solvencycontributions • +Pensioners’solvencycontributions • +Transferstonon-committedfundsfollowingtakeoverofbeneficiarygroups • +Transferstoemployer-paidcontributionreserve • +PaymentsfromBVG/LPPGuaranteeFund L +Entrylumpsumtransfers • +Terminationbenefittransfers • +Reimbursementsofwithdrawalsforhomeownership/incaseofdivorce K to L=Inflowfromcontributionsandentrylumpsumtransfers M –ReglementarischeLeistungen • –Retirementpensions • –Survivors’pensions • –Disabilitypensions • –Otherregulatorybenefits • –Lumpsumpaymentsonretirement • –Lumpsumpaymentsondeathordisability

255 26.826.18

YesNon/a Reference


N –Nonregulatorybenefits

O –Terminationbenefits • –Terminationbenefitsforleavers • –Withdrawalsforencouragementofhomeownership/incaseofdivorce M to O =Outflowforbenefitsandwithdrawals P/Q+/–Decreases/increasesinpensionliabilities,actuarialreservesand

contributionreserves • +/–Decrease/increaseinactiveparticipants‘liabilities • +/–Costs/incomefrompartialliquidation(shareofnon-committedfunds/

underfundingonly) • +/–Decrease/increaseinpensioners’liabilities • +/–Decrease/increaseinactuarialreserves • –Interestonretirementsavingscapital • +/–Decrease/increaseincontributionreserves R +Incomefrominsurancebenefits • +Insurancebenefits • +Shareofinsurancesurpluses S –Insurancecost • –Insurancepremiums • –One-timeinsurancecontributions • –Allocationofinsurancesurpluses • –ContributionstoBVG/LPPGuaranteeFund K to S=Netresultofinsuranceactivities T +/–Netreturnoninvestments • Arethecontentsofthemainpositionsconsistentlypresentedinaccordance

withthebalancesheetstructure(positionA)? • Istheadministrationcostofinvestmentsdisclosed? • DoesitemTcontainthefollowingcomponents-providedthecomplexityand

structureofthebalancesheetwarrantprovidingthesedetails? • +/–Interestonbankaccountsandmoneymarketinvestments • –Defaultinterestonterminationbenefits • –Interestexpenseforloansanddebtonmortgages • –Interestexpenseforpolicyloans • +Interestfrommortgagelending • +Incomefromsecuritieslending • +/–Gains/lossesfromderivativetransactions • +Interestfrominvestmentswiththeemployer • –Interestonemployer’scontributionreserve • +/–Resultfromrealestate(net) • +/–Changesinvalueofrealestate

YesNon/a Reference


• +/–Interestanddividendsonsecurities(orportfoliowithBankxy,etc.) • +/–Netresultfrompricechangesonsecurities(orportfoliowithBankxy.etc.) • –Assetmanagementexpense • =Netreturnoninvestments(itemT) • Ifinthecaseofcomplexinvestmentconceptsitisnotpossibletoachievethe

required substantive conformity between the balance sheet and income statementclassifications,isanappropriatelydetailedgrossbreakdownof investmentincomeandexpensepresentedinsectionVIofthenotes?

U +/– Decrease/ increase in non-actuarial provisions V +Otherincome: • + Income from services rendered • + Other income W –Otherexpenses X –Administrationexpenses: • –Administrationexpenses(withoutadministrativeexpenseforasset

managementwhichbelongtoitemT) • –Marketingandadvertisingexpenses K to X=Incomesurplus/expensesurplusbeforeaddingtoorreleasingfrom

reservesforfluctuationsinassetvalue Y +/–Decrease/increaseinreservesforfluctuationsinassetvalue Z =Incomesurplus/expensesurplus(totalfromKtoY) Arethefollowingitemsmarkedwithanasterisk(*)presentedinthenotesgivingfigures(withcomparativefiguresfortheprioryear)andexplanationswhere necessary? I Generalinformationandorganization: • Legal form and purpose • BVG/LPPregistrationandregistrationwiththeGuaranteeFund • Plan statutes and regulations • Are the plan statues, rules and regulations referenced by their date without

reproducingtheircontents? • Supremebody(equalrepresentation)/authorizedsignatories • Actuaries, auditors, advisors, supervisory authority • Affiliatedemployers* • Forpensionplanswithamanageablenumberofaffiliatedemployers,in

particular in the case of group companies, are employers listed by name indicatingnewcomersandleavers?

256 26.926.19



• Forpensionplanswithalargernumberofnon-relatedaffiliatedemployers (i.e.,collectiveandgrouppensionplans),isonlythenumberofaffiliationsand changesinaffiliatescomparedwiththeprioryearreported,andpossibly brokendownbyobjectivecriteria?

II Active participants and pensioners • Activeparticipants* • Pensioners* III Implementationofobjectives • Characteristicsofthepensionplan(s) • Financing,financingmethod • Further information on pension plan activities IV Significantaccountingpoliciesandvaluationmethods,consistency • StatementofcompliancewithSwissGAAPFER26 • Significantaccountingpoliciesandvaluationmethods • Changes in accounting policy and in bookkeeping V Actuarialrisks/riskbenefitcoverage/coveragerate • Inthecaseofspecialpensionplanconcepts,isthesub-classificationsetout

belowreplacedwithdifferentclassificationcriteriaandconsistentlyapplied? • Typeofriskbenefitcoverage,re-insurance Doesthetypeofriskbenefitcoverageincludeallactuarialinformation,

such as details of • the required pension liabilities and • Actuarial reserves or • Insurance coverage • Commentsonassetsandliabilitiesfrominsurancecontracts* • Developmentandreturnonsavingscapitalindefinedcontributionplans* • Developmentofpensionliabilitiesforactiveparticipantsindefinedbenefits

plans* • TotalretirementsavingscapitalinaccordancewithBVG/LPP* • Developmentofactuarialreservesforpensioners* •Conclusions of the last actuarial report • Actuarialprinciplesandothersignificantactuarialassumptions •Changes in actuarial principles and assumptions • Employercontributionreserveswithrenounceduse* • FundedstatuspursuanttoArt.44BVV2/OPP2 • IsthecoveragewithinthemeaningofArt.44BVV2/OPP2andanyother

significantcoverageratiosforthepensionplanexplainedinthegeneral contextandwithreferencetotheactuarialprinciples?



• Isthepensionactuary’sreportdrawnupusingadynamicactuarialvaluation method(seeSwissGAAPFER16)?

Ifso,arethefollowingdisclosed? •Discount rate •Development of salaries •Probability of leaving the company • Pensionindex • Expectedinvestmentperformance •Legal termination obligations VI Explanatorynotesoninvestmentsandnetreturnoninvestments • Organizationofinvestmentactivities,investmentrulesandregulations •Asset management mandates •Asset managers •Custodian accounts

• Expansionofinvestmentpossibilities(Art.50para.4BVV2/OPP2)with coherentexplanationofthecompliancewithcertaintyandriskallocation

(Art.50para.1-3BVV2/OPP2

Target value and calculation of reserve for fluctuations in asset value* Wherepensionliabilitiesandactuarialreserveshavebeensetasideforbenefit

obligationcommitments,orreservesforfluctuationsinassetvaluehavebeenmade for other reasons, do the notes indicate the following

• Targetvalueofthereserveforfluctuationsinassetvalueforinvestmentson hand at balance sheet date

• Difference between target value and balance sheet value • Informationonthereserveforfluctuationsinassetvalue •Calculation method •Consistent application of the method •Effect of changes in terms of value Breakdown of investments into investment categories WArethemainchangescomparedtotheprioryeardisclosed? Are disclosures on investments structured so as to afford the informed reader

anadequateviewofthefollowing? • The asset allocation • Thesignificantchangesinassetallocationcomparedtotheprioryear • Theactualriskdiversification • Compliance with • statutory and • (ifapplicable)legalinvestmentrequirements • and return on investments Are interest charges on borrowed capital, including employer-paid contribution

reserves,andinvestmentcostdulydisclosed(seeparagraph18)?



Current (open) financial derivative instruments Arethefollowingdisclosuresmadeinthebreakdownofinvestments? • Effectsoffinancialderivativeinstruments • ProofofcompliancewithArt.56aBVV2/LPP2 • Marketvalueandcounterpartiesinsecuritieslending • Comments on net return on investments Isthecomparisonwiththeprioryearrestrictedtothemainchanges? Comments on investments with the employer* and on employer-paid

contribution reserves* • Nature of any claims • Nature of any obligations • Interest rates • Contractual relationships •Rental agreements •Special business transactions •Asset transactions • Relatedincomeandexpense VII Comments on other balance sheet and income statement items

VIII Supervisory authority requirements

IX Furtherinformationregardingfinancialsituationge • Underfunding/measurestaken(Art.44BVV2/OPP2) • Renouncedusebytheemployeroftheemployer’scontributionreserve • Partial liquidations • Policyloans* • Separateaccounts* • Renouncedusebytheemployeroftheemployer’scontributionreserve • Pledgeofassets* • Jointandseveralliabilitiesandguarantees* • Legal proceedings underway • Special business and asset transactions • Any other circumstances that could affect the amount or development of

non-committed funds or underfunding, unless they are already mentioned in apreviousitem.

Isthereaderofthefinancialstatementsabletoascertainwhetherthe

governing body has taken the necessary steps to remedy the underfunding as wellasanyfurthermeasuresprescribedbylaw?

X Events subsequent to the balance sheet date



Inthecaseofcollectiveandgrouppensionplans,arethefinancialstatements preparedsoastoensurethattheappropriateinformationisdisclosed:• for each individual plan • faswellasforthepensionfundasawhole? Is any underfunding in one pension plan disclosed separately from the the non-committedfundsofanother?

FollowingSwissGAAPFER26,havethetheannualfinancialstatements(balancesheet,incomestatementandexplanatorynotes)ofcollectiveandgrouppensionplans drawn up primarily at the level of the legal entity that is required to prepare the balancesheet? Dothosefinancialstatementsalsoindicate:• The basic principles used for determining marketing and administration expense,and

• Otherdata(e.g.,surpluses)allocatedtotheindividualpensionplans? Foranygivenpensionplan,isthetrueandfairviewofthefinancialsituationevidentbasedonthefinancialstatementstakenasawholeinconjunctionwiththe supplemental individual report

257

258

26.10

26.20

Comments



SwissGAAPFER41

259

260

261

262

263

264

41.1

41.2

41.2

41.27

41.28

41.3

Dotheseparatefinancialstatementscomprisethefollowingcomponents?• Balance sheet• Income statement• Cashflowstatement• Statement of changes in equity• Notes(includingsegmentreporting

Arethefollowingitemsdisclosedseparatelyunderassets?• Investments• Intangible assets• Property, plant and equipment• Prepayments and accrued income• Receivables• Cash and cash equivalents

Arethefollowingitemsdisclosedseparatelyunderliabilities?Equity• Capitaloftheorganization• Capitaloftheorganizationthathasnotbeenpaidup(shownasaminusitem)• Capital reserves• Ownunitsofthecapitaloftheorganization(shownasaminusitem)• Retained earnings or accumulated lossLiabilities• Actuarial provisions for own account • Actuarial provisions for variations and for reliability• Non-actuarial provisions • Provisions for risks in the investments • Accrued liabilities and deferred income• Liabilities

Only for health insurers: Is equity presented in the balance sheet or in the notes separately according to the FederalHealthInsuranceActandaccordingtotheLawonInsuranceContracts?

Only for health insurers: Are the actuarial provisions for variations and for reliability presented in the balance sheetorinthenotesseparatelyaccordingtotheFederalHealthInsuranceActandaccordingtotheLawonInsuranceContracts?

Istheincomestatementclassifiedasfollows?• Operating result • Premiums earned for own account • Indemnityandbenefitexpensesforownaccount

24 Accounting for real estate insurers and health insurers (Swiss GAAP FER 41)



• Change in technical provisions for variations and for reliability • Balanceofrisksbetweeninsurers(incomeandexpenses)(healthinsurers) • Policyholder dividends • Operatingexpensesforownaccount • Other operating income • Otheroperatingexpenses • Investment result • Investment income • Investmentexpense • Change in provisions for risks in the investments • Betriebfremdes Ergebnis• Ausserordentliches Ergebnis• Gewinn/VerlustvorErtragssteuern• Ertragssteuern• Gewinn/Verlust

Direct method: Istheminimumdisclosureforthepresentationofthecashflowfromoperating activitiesbasedontheclassificationoftheincomestatement?

Indirect method: Arethefollowingitemsshownwithincashflowfromoperatingactivities?• Profit/loss• Depreciation/write-up of • Investments(includingrealizedandnon-realizedgainsandlosses) • Intangible assets • Property, plant and equipment • Receivables• Increase/decreasein: • Actuarial provisions for own account • Actuarial provisions for variations and for reliability • Non-actuarial provisions • Provisions for risks in the investments • Gain/lossonthedisposalof • Intangible assets • Property, plant and equipment• Increase/decreasein: • Prepayments and accrued income • Receivables • Accrued liabilities and deferred income • Liabilities

265

266

41.4

41.5

24 Accounting for real estate insurers and health insurers (Swiss GAAP FER 41)



Areoutflowsforpurchasesofandinflowsfromdisposalsofinvestmentspresentedeitherinthecashflowfromoperatingactivitiesorfrominvestingactivities?

Arethefollowingcomponentsdisclosedinthenotes?• Segment reporting• Explanationson • Valuation basis • Valuation principles • Supplementarydisclosureson: • Balance sheet • Income statement • Cashflowstatement • Statement of changes in equity

Doessegmentreportingconsistsoffollowingitems?For real estate insurers: • Real estate insurance • Primary cover • Other insurances • Other services • Eliminations • Prevention/intervention For health insurers: • InsuranceaccordingtotheFederalHealthInsuranceAct• Insurance according to the Law on Insurance Contracts • Insurance according to the Federal Law on Accident Insurance• Other • Eliminations

Isthecompositionofinvestmentsdisclosed?• In the balance sheet• In the notes Are,forexample,thefollowingitemsdisclosed?• Shares• Alternative investments• Participations• Derivativefinancialinstruments• Fixed-interestinvestments• Land and buildings• Collective investment schemes• Cash and cash equivalents• Other investments

267

268

269

270

41.6

41.7

41.8

41.941.31



Is owner-occupied real estate disclosed?• As an investment• As an item of PPE

Are receivables and liabilities classified in the notes at least as follows? Amounts due to/from• Policy holders • Insurance organizations• Re-insurers • Agents and intermediaries• Related parties

Within liabilities, are the non-current financial liabilities (e. g., bonds) disclosed separately in the notes?

Are deposit receivables and liabilities from insurance business taken over or transferred, respectively, recognized separately?• As receivables from insurance organizations• As liabilities to insurance organizations

Are the actuarial provisions for own account disclosed in the balance sheet or in the notes as follows?• Provision for unearned premiums • Provisions for indemnities and benefits • Coverage capital • Provision for future policyholder dividends• Other provisions for actuarial risks

When discounting the provision for indemnities and benefits, do the notes contain details of?• Discount rate• Average durationAlternatively:• Difference between the discounted and the undiscounted amount of the provisions

For other actuarial provisions, is the purpose disclosed?

Are the valuation principles for the actuarial provisions for variations and for reliability disclosed and explained in the notes?

271

272

273

274

275

276

277

278

41.32

41.10

41.10

41.33

41.11

41.11

41.11

41.12



Are the valuation principles for the provision for risks in the investments disclosedandexplainedinthenotes?

For earned premiums for own account, are the following details disclosed in theincomestatementorinthenotes?• Premiums• Re-insurer’sshare• Contributions from the public sector • Changes in provision for unearned premiums

Aretheexpenseforindemnitiesandbenefitsforownaccountclassifiedinthe incomestatementorinthenotesasfollows?• Indemnityandbenefitexpensesforownaccount • Paidindemnitiesandbenefitsforownaccount • Paidindemnitiesandbenefits • Re-insurer’sshare• Plus/minuschangesintheactuarialprovisionforownaccount?

Isthecostsharedwithinsuredpersons(franchise,deductible,dailyallowance inhospitals)nettedwithinindemnitiesandbenefitspaiddisclosedseparately inthenotes?

Incaseare-insurancecontractexists,arethefollowingdetailsprovidedinthe notesforeachoftheactuarialprovisions?• Grossamount• Plus/minusre-insurer’sshare• As result, amount for own account

Areoperatingexpensesclassifiedinthenotes?• According to where they were incurred• According to function• According to cost type

Ifare-insurancecontractisinplace,istheoperatingexpensebrokendown intothefollowing:• Grossamount• Re-insurer’sshare• Amount for own account

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Areexplanationsprovidedinthenotesforthefollowingareas?• Other operating income• Otheroperatingexpenses

Istheincomeandthedirectlyattributableexpenseforinvestmentsbroken downinthenotesintotheindividualinvestmentcategories?

Isincomefrominvestmentsbrokendownintothefollowing?• Realizedgains• Unrealizedgains

Isexpensefrominvestmentsbrokendownintothefollowing?• Realizedlosses• Unrealizedlosses• Expensesforthecustodyoftheinvestments

For land and buildings and other assets whose fair value was determined according totheexpectedincomeorcomparisonwithsimilarassets,isthecarryingamountdisclosedinthenotes?

If an investment is valued at acquisition cost instead of fair value, is the amount disclosedinthenotes?

Forinvestmentsatfixedinterestratesthatarevaluedusingtheamortizedcost method,arethefairvaluesdisclosedinthenotes?

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