Principles of Reporting

Below is a brief report on the key principles to which the reporting of the M11 Annual Report of the Federation of Migros Cooperatives is committed.

Principles of sustainability reporting

The 2011 Migros Annual Report discloses the principal commercial, ecological and social performance of Migros. In doing so, Migros is guided by the principles of the Global Reporting Initiative GRI (G3). The GRI certifies that the report complies with level B. You can find the full report with a link in the online report as a PDF under GRI Content Index.

The reporting also acts as a progress report within the meaning of the Global Compact, which Migros has presented annually since joining in 2006.
The statements on the sustainability achievement of Migros refer predominantly to the business units of Cooperative Retailing and Industry & Wholesaling. Further information on this can be found in the main contribution on the principles of sustainability reporting.

Principles of financial reporting

The Migros Group financial statements are prepared in conformity with the provisions of the law and with the International Financial Reporting Standards (IFRS). These standards comprise the IFRS as issued by the International Accounting Standards Board (IASB), the International Accounting Standards (IAS) as well as the interpretations of the IFRS Interpretations Committee (IFRIC) and the Standard Interpretations Committee (SIC).

The main accounting principles can be found in the PDFs Migros Group Financial Report.
The financial reporting of the Migros Group and of the Federation of Migros Cooperatives
is available in German, French and English. The German version is authoritative.

Principles of reporting on cooperative governance

The Federation of Migros Cooperatives is committed to responsible, targeted governance. In doing so, it is guided by the specifications of economiesuisse or the Swiss Code of Best Practice in Corporate Governance as well as the Directive Corporate Governance of the SIX Swiss Exchange (DCG), which are not binding for the Federation of Migros Cooperatives as a cooperative, but whose analogue application is practical in various subjects and for a non-listed company.
In addition to the online reporting, a PDF in accordance with Swiss Code of Best Practice (in german) is also available.

Principles of collecting data on the area of employees

The SAP/HR systems in the companies of the M-Group form the basis for collecting data for HR figures. The data of these companies are imported into the central HR controlling tool on a monthly basis via fixed interfaces and are then irrevocably available for aggregation. The calculation of the Group data for annual reporting is monitored by an internal audit.