An Outline of the Swiss Biotech Industry and its Management of Financial Statement Informativeness

Abstract

In order to establish an audit program tailored to the industry specifics, the industry itself must be understood from the bottom to the top. Further, besides the descriptive industry characteristics, the specificities of the financial statements and their informativeness have to be analyzed and interpreted. This has not yet been done in the Swiss biotechnology environment and is therefore a requirement for a future biotech audit program.