The student associations recognized by EPFL maintain administrative and financial management with care, in particular by respecting the following points:
Accounts : Any association recognized by the EPFL shall keep accounts in accordance with the law and its Articles of Association.
Commercial Register : If the association’s annual turnover is over CHF 100,000 and/or if the Articles of the association foresee auditing of its accounts by an external accountant, the association shall register under the Commercial Register.
Accounting : If its annual turnover and/or income exceed CHF 70,000, the EPFL may require the association to entrust its bookkeeping to an external accountant recognized and approved by the EPFL.
Auditing : The EPFL may require an association to submit its accounts to an external accountant for auditing if the turnover exceeds CHF 250,000.
Administration of Wages and Social Costs : If the association pays wages, it shall do so based on an employment contract and pay social costs in accordance with the law. The association shall also submit all statements required by law, in particular to the competent social security bodies.
Taxes : The association shall submit to all legal tax requirements (direct and indirect taxes (VAT)). If applicable, this duty shall be performed by the accountant acknowledged and approved by the EPFL.
Communication to the EPFL : The association’s accounts, statement by the (internal or external) auditors as well as the activity report shall be submitted to the EPFL latest 6 months further to the closing of the accounting year.
Reserves (association’s equity capital) : If its own capital further to allocation of profit to provisions and reserves exceeds the annual expenditure budget by over 50%, the association shall redistribute the surplus to projects related to student activities or to the EPFL Student Foundation.
Relations with Third Parties : The EPFL shall not be responsible for any consequence of relations or agreements between associations and third parties.
EPFL associations shall take out insurance with a private insurance company for any claims for which it might be held liable in general as well as for any events it organises.
Respect and disputes : Each EPFL association shall respect the activities of other interest groups and endeavour to deploy its own activities in harmonious cooperation in particular with other student associations on the EPFL and Lausanne University campuses as well as with all EPFL departments.