• Date: 12/19/2014


Dear Board members,


In September 2014 the Federal Council launched the consultation on the third series of corporate tax reforms (CTR III). It thus responded to the increasing criticism against the taxation of privileged companies in Switzerland, but also to the growing international debate regarding transparent and fair taxation. The article by Stefan Kuhn and Rachid Ghazi summarizes the main proposals in this respect and identifies actions to be taken. There is no doubt that taxes are now definitively on the agenda of audit committees and that reflections on this subject go largely beyond mere “tax compliance”.


Under the title “Risk Management & Compliance” we take a look in this issue at the implementation of a risk-adequate compliance management system. We also address “whistleblowing”, a topic that still has a negative connotation in Switzerland, but is a useful tool in order to avoid reputation damages. Fabienne Sonderegger’s article shows that an efficient internal alert system is not only the most frequent means of detecting misconducts, but also has a positive impact on corporate culture and staff loyalty.


The definitive version of the Swiss Code of Best Practice was approved by economiesuisse in August 2014. We give you here an overview of the most significant changes made to this publication, which has proven itself as a self-regulatory instrument. The explanations regarding the composition of the Board of Directors and its committees should be of particular interest to you.


The ACI Event 2014 took place on 20 November in Zürich and on 25 November in Lausanne. On this occasion, we examined the current EU Audit Reform, the success factors of an efficient audit committee as well as tax transparency. We summarize in this issue the main conclusions of this event and hope to see you again next year.


I hope that you enjoy reading this issue and wish you a merry Christmas and a happy new year.


Philipp Hallauer

Head of KPMG’s Audit Committee Institute


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Philipp Hallauer

Head of KPMG’s Audit Committee Institute

+41 58 249 41 97