Inside Swiss Audit Committees: Driving Progress
Deloitte Audit Committee Study
About the Survey
The Deloitte Audit Committee Study, conducted in partnership with the Institute of Law and Economics (ILE-HSG) at the University of St. Gallen, is the first comprehensive analysis of audit committee effectiveness among Switzerland’s top 50 listed companies. Our first-of-its-kind research fills an existing knowledge gap by offering clear insights into best practices and the evolving role of audit committees in Switzerland.
Summary
Our study focuses on three key pillars of Audit Committee (AC) effectiveness:
- how committees address emerging strategic risks such as AI governance, organisational resilience, and regulatory complexity;
- their core responsibilities in financial reporting and audit oversight;
- and their ways of working, including collaboration and long-term planning.
Our findings confirm that while Swiss ACs maintain a strong focus on financial reporting and internal controls, they face a strategic imperative to continue to evolve beyond a reactive approach. The rapid pace of technological and regulatory change, alongside ESG integration and balancing short- and long-term priorities, demands a forward-looking governance framework with a focus on strategic impact and resilience.
Some key takeaways
New Technologies and AI
AC members anticipate that the oversight of new technologies will become significantly more important on their agenda over the next 3-5 years - this is the area with the highest anticipated increase (88%).
However, only 27% rated their AC's composition positively for information technology and cybersecurity skills, expertise, and backgrounds.
Audit Committee Responsibilities
White the core focus on financial reporting and controls remains, ACs face a potential time constraint, as more time must be allocated to emerging areas expected to grow in importance.
Short-term vs- Long-term Tension
The majority of ACs perform scenario planning and stress testing, and when discussing risks and opporutnities, the majority adopt a balanced approach, considering past, present, and future factors over a 1-3 year horizon.
AC's activities to anticipate future risks and opportunities
For any questions or further discussion, please reach out to our contacts listed below. We look forward to engaging with you.
