Undertakings shall prepare a report on non-financial matters each year if:
they are companies of public interest as defined in Article 2 letter c of the Auditor Oversight Act of 16 December 20051;
together with the Swiss or foreign undertakings that they control, they have at least 500 full-time equivalent positions on annual average in two successive financial years; and
together with the Swiss or foreign undertakings that they control, they exceed at least one of the following amounts in two successive financial years:
a balance sheet total of 20 million francs,
sales revenue of 40 million francs.
The foregoing requirement does not apply to undertakings that are controlled by another undertaking:
to which paragraph 1 applies; or
that must prepare an equivalent report under foreign law.