61 Jahresbericht - 2024 appropriate control measures and minimise the likelihood of them occurring. The appropriate use of risk management and control processes, which guarantee the identification, assessment, management, monitoring and communication of single risks and risk areas, ensures that all risks can be taken into account accordingly. One of the main objectives is to gain an understanding of the risks early on and reduce any potential risks of health, safety and environment. 2. KEY ACCOUNTING AND VALUATION PRINCIPLES The present annual accounts for Transitgas AG have been prepared in accordance with the regulations of Swiss financial reporting law and are presented in Swiss Francs (CHF). The main accounting and valuation principles used, which are not already specified by the Code of Obligations, are described as follows. Principles of financial reporting Financial reporting under the Code of Obligations requires certain estimates and assumptions to be made by management. These are made continuously and are based on past experience and other factors. The results subsequently achieved may deviate from these estimates. Main actual items in the annual accounts, which are based on the estimates and assumptions made by management, are as follows: A. Tangible fixed assets B. Technical equipment C. Intangible fixed assets D. Provisions Estimates and assumptions made by management The currency in which Transitgas AG operates is Swiss Francs (CHF). Transactions in foreign currencies are converted into the currency in which the Company operates (CHF) at the exchange rate on the day the transaction takes place. Foreign currency items
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