Audit Costs in Switzerland: What Does a Limited Audit Cost?

Most Swiss AGs and GmbHs are legally required to have their annual financial statements audited. For the vast majority of SMEs, this entails a limited audit; a streamlined review that's less intensive and less expensive than a full ordinary audit. Yet audit costs remain one of the most common questions business owners ask when planning their annual compliance budget.

This article covers what a limited audit costs in Switzerland, the key factors that drive pricing, how limited and ordinary audits differ, and practical steps you can take to keep your audit costs manageable.

Swiss law defines three audit scenarios for legal entities: the ordinary audit for large companies, the limited audit for most SMEs, and the option to opt out entirely for very small firms. Understanding which category your company falls into is the first step in estimating your audit costs.

The ordinary audit is required for economically significant companies. Under Art. 727 of the Swiss Code of Obligations (CO), a company must undergo an ordinary audit if it exceeds two of the following three thresholds in two consecutive financial years (as of 2026):

• A balance sheet total of CHF 20 million,
• Revenue of CHF 40 million,
• 250 full-time equivalent employees on annual average.

Publicly listed companies and those required to prepare consolidated financial statements are also subject to an ordinary audit regardless of size. The ordinary audit is comprehensive. It includes a full review of the internal control system (ICS), third-party balance confirmations, and results in a positive assurance from the auditor.

The limited audit (eingeschränkte Revision) is the standard for all other legal entities. Under Art. 727a para. 1 CO, any AG, GmbH, or cooperative that doesn't meet the ordinary audit thresholds must have its annual financial statements reviewed through a limited audit (unless it qualifies for and exercises the opting-out option described below). This applies to the vast majority of Swiss companies. According to the Federal Audit Oversight Authority (RAB), approximately 80,000 limited audits are carried out in Switzerland each year, compared to around 10,000 ordinary audits. For the complete picture of thresholds, audit types and opting-out, see our guide to statutory audit in Switzerland.

The third option is opting out. Under Art. 727a para. 2 CO, companies with no more than 10 full-time employees on annual average can waive the limited audit entirely if all shareholders unanimously consent. The waiver must be filed with the relevant cantonal commercial register before the start of the financial year it applies to. Once filed, the waiver applies to subsequent years as well (Art. 727a para. 4 CO), though any shareholder can request a limited audit at least 10 days before the general meeting.

It's worth noting that sole proprietorships and partnerships are not subject to statutory audit obligations at all. The audit requirement applies only to legal entities.

A limited audit for a typical Swiss SME costs between CHF 3,000 and CHF 12,000 annually. Costs increase with company size, complexity, and the quality of the bookkeeping provided to the auditor.

Here's a rough overview of market ranges by company size:

• Small companies (up to ~CHF 2M revenue): CHF 3,000–5,000
• Medium companies (up to ~CHF 10M revenue): CHF 5,000–8,000
• Larger SMEs (CHF 10M+ revenue): CHF 8,000–12,000

For comparison, an ordinary audit typically starts at CHF 10,000–15,000 for smaller mandates and can reach CHF 30,000–50,000 or more for larger companies. The significantly higher cost is due to the much broader scope of examination in an ordinary audit, including the full internal control system review and third-party confirmations.

Special-purpose audits — such as qualified formation audits involving contribution-in-kind, capital increase audits, and capital reduction audits — are separate engagements priced individually depending on the type and complexity of the transaction. For a complete breakdown of company formation costs, see our detailed guide on how much it costs to start a company in Switzerland.

Most audit firms charge hourly rates, typically ranging from CHF 200 to CHF 350 per hour depending on the auditor’s experience and the firm's market positioning. Some firms offer fixed-price packages for specific audit tasks.

Regardless of the pricing model, the total cost ultimately comes down to how many hours the audit requires, which is why the efficiency of your auditor and the quality of your bookkeeping preparation matter more than the rate itself. An experienced auditor who works efficiently at a fair hourly rate will often cost less overall than a less experienced one who needs significantly more time.

Nexova combines audit expertise with deep fiduciary knowledge, ensuring a smooth, efficient review that saves you time and keeps costs manageable. Contact us for a tailored assessment of your audit requirements.

A limited audit is a plausibility check of the annual financial statements. The auditor verifies that the numbers are reasonable and consistent, but does not conduct the deep-dive testing that an ordinary audit requires.

The scope of a limited audit is defined in Art. 729a para. 2 CO and consists of three types of procedures:

• Inquiries: interviews with management and relevant staff about significant transactions, accounting policies, and business developments.
• Analytical procedures: comparing financial statement items year-on-year and checking for anomalies or inconsistencies.
• Limited detail testing: spot-checking individual transactions and their supporting documentation.

Unlike an ordinary audit, a limited audit does not include a thorough review of the internal control system, third-party balance confirmations (e.g., from banks, debtors, or creditors), physical inventory observations, or specific fraud detection procedures beyond standard plausibility checks.

The audit concludes with a written report to the general meeting of shareholders. This report contains what's called a "negative assurance", i.e., the auditor states that nothing has come to their attention suggesting the financial statements don't comply with the law and the company's articles of association. This contrasts with an ordinary audit's "positive assurance," where the auditor affirmatively states that the financial statements are compliant.

A fiduciary (Treuhänder) handles your ongoing accounting, tax, and business administration, while an auditor (Revisor) independently reviews your financial statements for legal compliance. They serve fundamentally different roles, and understanding the distinction helps you plan your compliance setup effectively.

The fiduciary's job is operational: preparing annual financial statements, bookkeeping, tax returns, payroll, and providing ongoing business advisory support.

The auditor's job is verification: periodically reviewing the financial statements that the fiduciary (or your internal team) has prepared and confirming they comply with the law.

As discussed above, under a limited audit the same firm can provide both fiduciary and audit services, provided appropriate organizational and personnel measures are in place to ensure audit reliability (Art. 729 para. 2 CO).

This is a common and practical arrangement for many Swiss SMEs. It allows companies to benefit from a single point of contact that understands their business holistically, while still meeting the legal requirements for an independent audit review. The key is that the firm maintains clear internal safeguards. For example, ensuring the person who performs the audit is not the same person who prepared the bookkeeping.

Under an ordinary audit, the requirements are much stricter. The auditor is broadly prohibited from providing bookkeeping services or other work that could create a risk of reviewing their own output (Art. 728 para. 2 CO).