Swiss regulation is not bound to eu accounting

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Empresas (AECA), marked a major shift in attitudes to accounting. The Spanish legal system relies on detailed codes, such as the Commercial Code and the Civil Code. Switzerland Regulation of accounting in Switzerland is carried out primarily through legislation but there are also professional accounting standards. Since the current legal regulations provide a rather rough framework, the work of the private sector accounting standard-setting body is of growing importance. The legal rules are not embodied in an accounting law as such, but are contained in the Budesgesetz über das Obligationenrecht (OR, Swiss Code of Obligations CO), where they first appeared in 1881. Swiss regulation is not bound to EU accounting directives. The Swiss Chamber ( Kammer des Bücher-, Steuer-, une Treuhandexperten – Chamber of accountant, Tax advisors and Fiduciary Agents) founded the Fachkommission für Empfehlungen zur Rechnungslegung ( FER , Foundation of Accounting and Reporting Recommendations). This body was inspired by...
View Full Document

This note was uploaded on 05/02/2013 for the course ECONOMIC economics taught by Professor Economics during the Fall '13 term at Elmont Memorial High School.

Ask a homework question - tutors are online