¹ The following companies must have their annual accounts and if applicable their consolidated accounts reviewed by an external auditor in an ordinary audit:

1.

Publicly traded companies; these are companies that:

a.

have equity securities listed on a stock exchange,

b.

have bonds outstanding,

c.

contribute at least 20 per cent of the assets or of the turnover to the consolidated accounts of a company in terms of letter a or b;

2. ⁶⁰³

Companies that exceed two of the following thresholds in two successive financial years:

a.

a balance sheet total of 20 million francs,

b.

sales revenue of 40 million francs,

c.

250 full-time positions on annual average;

3.

Companies that are required to prepare consolidated accounts.

^1bis If the financial reporting is not carried out in francs, in order to ascertain the values in accordance with paragraph 1 number 2, the exchange rate as at the balance sheet date shall be applied for the balance sheet total and the annual average exchange rate for the sales revenue.⁶⁰⁴

² An ordinary audit must be carried out if shareholders who represent at least 10 per cent of the share capital so request.

³ If the law does not require an ordinary audit of the annual accounts, the articles of association may provide or the general meeting may decide that the annual accounts be subjected to an ordinary audit.