Should you settle for the bare minimum when it comes to security? There are rules for companies that want to improve their risk management.
To fulfill the minimum legal obligations of the Swiss Code of Obligations, a company must present at least an assessment of the risks and append all related information to their annual financial statements. As a result, companies focus on planning for the assessment and identifying risks.
Companies that, in addition to satisfying the minimum requirements, wish to comply with the Swiss Code of Best Practice for Corporate Governance also undertake risk-management and implementation phases. The decision as to the volume the company wants to cover is defined by the board of directors in charge of the management of the company, in accordance with Art. 716a al. 1 CO.