In their report, the auditors can waive a further description of their responsibility for the audit of the financial statements / the consolidated financial statements. Alternatively, a reference to this website can appear in the audit report.
You’ll find below a further description of their responsibility for the audit of the financial statements / the consolidated financial statements. This further description is an integral part of the auditor’s report.
As part of an audit in accordance with Swiss law, ISAs and Swiss Auditing Standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
We communicate with the Board of Directors or its relevant committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide the Board of Directors or its relevant committee with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with the Board of Directors or its relevant committee, we determine those matters that were of most significance in the audit of the financial statements / the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report, unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
 This sentence would be modified, as appropriate, in circumstances when the auditor also has a responsibility to issue an opinion on the effectiveness of internal control in conjunction with the audit of the financial statements/ the consolidated financial statements. In such a case, the part of the sentence which states that the auditor does not obtain an understanding of internal control for the purpose of expressing an opinion on the effectiveness of the internal control should be omitted (Swiss Auditing Standard 701, para. 31 item b).
 Only to be inserted for an audit of consolidated financial statements.
 To be removed, if no component auditors are involved.