Rothschild Bank AG Zurich - Rothschild | Private Banking & Trust

F Notes to the
Consolidated Financial Statements
Significant accounting policies
Rothschild Bank AG (the “Company”) is a company domiciled in Switzerland. The consolidated financial
statements of the Company for the year ended 31st March 2006 comprise the Company and its subsidiaries
(together referred to as the “Group”) and the Group’s interest in associates. The ultimate parent company of
Rothschild Bank AG is Concordia B.V, domiciled in the Netherlands.
The financial statements were authorised for issue by the Board of Directors on 10th July 2006.
The consolidated financial statements have been prepared in accordance with International Financial Reporting
Standards (“IFRS”) and their interpretations adopted by the International Accounting Standard Board (IASB).
These are the Group’s first consolidated financial statements in which IFRS has been applied.
An explanation of how the transition to IFRS 1 has affected the reported financial position, financial
performance and cash flows of the Group is provided in note 43.
Basis of preparation
The consolidated financial statements are prepared on the historical cost basis, except for available-for-sale
investments and financial assets at fair value through profit and loss which are stated at their fair value. The
reporting currency of the Group is Swiss Francs (CHF).
The preparation of financial statements requires the use of estimates and assumptions that affect the reported
amount of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the reporting period. Although these
estimates are based on management’s knowledge of current events and actions, actual results may differ from
those estimates.
Standards that have been approved but not yet applied
The following new and revised Standards and Interpretations have been issued, but are not yet effective and
are not applied early in these consolidated financial statements. Their impact on the consolidated financial
statements of the Group has not yet been systematically analysed. The expected effects as disclosed in the table
below reflect a first assessment by Group management.
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Rothschild Bank AG Zürich