1. Introduction

The topic of the research project is on how the International Financial Reporting Standards (IFRS) influence the Swiss legal system. This question arises once in connection with interpretation of the Swiss accounting law, namely, whether certain rules of the IFRS can be applied as generally accepted accounting principles or in another form. To be examined is how a standard of international self-regulation can influence the Swiss legal system (first sub-project). To be investigated next is whether the differences between the IFRS and the provisions of the Swiss Code of Obligations inevitably lead to different representations, or whether it is possible to exercise the options in the systems in both standards so as to achieve a consistent financial statement meeting both these standards (second sub-project). This possibility would greatly simplify accounting, especially the consolidation process. To be investigated finally is whether internal financial reporting aligned with IFRS requirements complies with stock corporation law (third sub-project). Internal financial reporting oriented toward the requirements of the Code of Obligations is known to be inadequate; if IFRS reporting proves adequate, it might allow synchronization between the balance sheet according to commercial law, and the balance sheet as an internal management tool.

The results of the research project are represented in three individual dissertations per sub-project; they are also incorporated into a new edition of the book titled „Corporate Accounting Law“ and in specific articles on individual topics. Acting as research partners are Prof. Ulf Schiller (professor for accounting) at the University of Basel, Prof. Reto Eberle (professor for auditing) at the University of Zurich, the Swiss Institute of Certified Accountants, the Institute for Financial Services (IFZ) in Zug and, finally, Professor Joachim Hennrichs at the University of Cologne, Prof. Ulrich Torggler at the University of Vienna as well as Prof. Eva Micheler at the London School of Economics. The research project is meant to examine the extent to which International Financial Reporting Standards influence the Swiss legal system. This question arises firstly in connection with accounting legislation, and secondly in connection with describing the financial management duties of the board of directors (cf. item 2.3.4). Before the project is dealt with in more detail, an introductory section describes accounting principles and their objectives, as well as accounting sources, in particular, the character of the IFRS (cf. 2.1.3).

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