…
As part of an audit in accordance with Swiss law and SA-CH, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control of the occupational pension scheme1.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates, other than pension liabilities and actuarial reserves evaluated by the expert in occupational benefits2.
We communicate with the Foundation Board or its relevant committee3 regarding, among other matters, significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
…
1Also applicable correspondingly to other institutions whose purpose is to provide occupational benefits, such as welfare funds pursuant to Art. 89a para. 7 of the Swiss Civil Code (CC), vested benefits institutions, pillar 3a institutions, investment foundations, the Substitute Occupational Benefit Institution OPA and the Guarantee Fund OPA.
2Not applicable to welfare funds pursuant to Art. 89a para. 7 CC, vested benefits institutions, pillar 3a institutions and investment foundations.
3Adapt if no other relevant committee exists.