The Audit Committee News informs you about all of the latest trends in its core focus areas of corporate governance, risk management & compliance and corporate reporting. The ACNews features articles penned by experts from Switzerland and many other countries around the world.
Following the rejection of the Corporate Tax Reform III (CTR III), the Federal Council quickly started working on the preparation of the Tax Proposal (TP) 17. Olivier Eichenberger presents the differences between the two projects and outlines the main elements of the TP 17.
The new edition of KPMG’s study on cybersecurity shows that most companies are now aware of the importance of this topic, but that they still do not address the corresponding risks with sufficient consistency. As co-editor of the study, Matthias Bossardt explains which measures need to be taken regarding third parties (suppliers).
In its report published in spring, the OCDE’s Working Group on Bribery concluded that Switzerland could be more active in the criminal prosecution of companies. Furthermore, whistleblowers should be better protected. Philippe Fleury and Marvin Schilling present some measures that enable to reduce bribery risks.
When communicating with investors, companies frequently use performance indicators such as adjusted profit or adjusted turnover. These indicators are known as Alternative Performance Measures. Silvan Jurt summarizes the main results of a study carried out by KPMG in collaboration with the University of St. Gallen.
Cryptocurrencies are the subject of a wide range of publications. Heiko Petry examines the operational aspects and the regulatory landscape before addressing the topic of accounting and financial reporting in relation with cryptocurrencies.
In the United States, virtual shareholder meetings are already criticized by institutional investors such as ISS or Glass Lewis, whereas they are not yet authorized in Switzerland. According to Jörg Kilchmann, the current revision of company law should however change this situation.
We wish you a pleasant and interesting read as well as a wonderful summer break.
Philipp Hallauer & Reto Eberle
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.