On 1 January 2012 the new threshold limits enter into force: in the case of a balance sheet total of CHF 20 million, a turnover of CHF 40 million and 250 FTEs, whereby two of the three criteria must be fulfilled, an ordinary audit must be carried out as of business year 2012. A limited audit will be sufficient for all stock corporations that do not fulfil these criteria. In the event of fewer than 10 FTEs it is possible to waive the auditors completely. The duty to provide consolidated financial statements in the area of accounting is governed by the Stock Corporation Act. As the reform of the Stock Corporation Act is still being debated in parliament and its entry into force will not be for a couple of years yet, the lower threshold limits for the consolidated financial statements apply (balance sheet total CHF 10 million, turnover CHF 20 million and 200 FTEs.) Thus, companies obliged to provide consolidated financial statements cannot benefit from the new threshold limits in the audit law as a corporation must always have an ordinary audit.