Rs 221.302 Federal Law Of 16 December 2005 On The Approval And Supervision Of Auditors (Law On The Supervision Of The Revision, Lsr)

Original Language Title: RS 221.302 Loi fédérale du 16 décembre 2005 sur l’agrément et la surveillance des réviseurs (Loi sur la surveillance de la révision, LSR)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
221.302 federal law on accreditation and supervision of Auditors (law on the supervision of the revision, LSR) December 16, 2005 (Status January 1, 2016) the Federal Assembly of the Swiss Confederation, view the art. 95, al. 1, 122, al. 1, and 123, al. 1, of the Constitution, given the message of the federal Council of 23 June 2004, stop: Section 1 purpose and definitions art. 1 object and purpose this Act regulates the approval and monitoring of people who provide services for the revision.
It aims to ensure a steady performance and the quality of review and benefits.
Special laws are reserved.

Art. 2 definitions for the purposes of this Act refers to: a. review and benefits: 1. audits and attestations that under federal law, must be made or issued by a registered reviewer, an expert reviewer approved or by a company of review subject to the supervision of the State, 2. the audits within the meaning of art. 24, al. 1, let. a, of the law of June 22, 2007 on the monitoring of financial markets (FINMASA) that are carried out by an audit company approved;

b. companies in revision: individual companies, partnerships or the persons entered in the register of commerce that provide benefits in terms of review; c. companies of public interest: 1. companies open to the public within the meaning of art. 727, al. 1, point 1, of the code of obligations (CO), 2. taxable persons within the meaning of art. FINMASA 3, which must load an audit company authorised within the meaning of art. 9A of this Act to perform an audit according to art. 24 FINMASA.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 956.1 new content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 220 Section 2 General provisions governing the approval of people who provide services for the revision art. 3 principle individuals and review businesses providing services within the meaning of art. 2, let. a, must be licensed.
Individuals are approved for an indefinite period and companies in revision for a period of five years.

Art. 4 conditions to be met by the experts-Auditors a physical person is accredited as an expert reviewer when she meets the professional requirements for training and practice and that she has an impeccable reputation.
A physical person satisfied professional training and practice requirements, if it: a. holds the federal accountant diploma; b. holds the federal diploma of expert-trustee, tax expert or expert in finance and controlling and justifies a professional practice for at least five years; c. holds a degree in business management, in economics or legal issued by a university or a University of applied sciences Switzerland or is specialist in finance and accounting with federal patent or even fiduciary agent with federal patent, and justified in all cases of a professional practice of twelve years at least; d. is a foreign diploma attesting a training similar to those listed for the let. a, b or c, has a professional practice that is required and can prove that it has knowledge of the Swiss law required equivalent to that, provided that a treaty with the State of origin provides or that the original State grants reciprocity.

The federal Council may recognize other equivalent training and determine the duration of the professional practice required.
Professional practice must have been acquired primarily in the areas of accounting and the auditing, including two-thirds at least under the supervision of a certified expert-reviewer or a foreign specialist for comparable qualifications. Professional practice acquired during the training is taken into account insofar as it meets the above requirements.

Art. 5 requirements for reviewers an individual is licensed as a reviewer when she: a. has an impeccable reputation; b. has completed the training referred to in art. 4, al. 2; c. justifies a professional practice of one year at least.

Professional practice must have been acquired primarily in the areas of accounting and the accounting revision under the supervision of an approved trustee or a foreign specialist with comparable qualifications. Professional practice acquired during the training is taken into account insofar as it meets the above requirements.

Art. 6 requirements for companies in revision a company review is approved as an expert reviewer or reviewer when: a. the majority of the members of its highest body of management or administration as well as its direction has received the necessary approval; b. one-fifth less than people who are called upon to provide benefits for the revision has received the necessary approval; c. it is established that all people who run benefits in material revision received the necessary approval; d. management structure ensures adequate supervision of the execution of the different mandates.

Controls the finances of public authorities are allowed as companies in revision provided that they meet the requirements set out in para. 1. they cannot be registered as companies in revision submitted to the supervision of the State.

RO 2008 757 Section 3 special provisions governing the approval of businesses providing services for the revision to companies of public interest art. 7 principle review companies providing services in the area of review public interest corporations must seek special approval and are subject to the supervision of the State (revision companies subject to the supervision of the State).
Other companies in revision are also approved, on demand, as companies in revision subject to the supervision of the State when they meet the conditions provided for by the law.

Art. 8 companies operating internationally must also be licensed as companies in revision submitted to the supervision of the State who provide benefits for review within the meaning of art. 2, let. a, or similar benefits under foreign law to: a. corporations governed by foreign law and whose securities are traded in Switzerland; b. to d....

Review companies that are placed under the supervision of a foreign authority recognized by the federal Council should not be approved.


Not yet in force not yet in force art. 9 requirements review companies receive approval for the provision of services in the area of review to public when corporations they: a. meet the requirements to be licensed as an expert-reviewer; b. offer the guarantee that they comply with the legal obligations; c. have sufficient insurance against risk of civil liability coverage.

The supervisory authority may grant approval to a company of review on the basis of a foreign licence when the requirements of this Act are met.

New term according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF). This mod has been taken throughout the text.

Art. 9aConditions for approval to perform an audit according to the laws on financial markets a company review is approved as the audit company to perform audits according to art. 2, let. a, no. 2, if it meets the following requirements: a. it is approved according to art. 9, al. 1; (b) it is sufficiently organized to perform audits; c. it does any other activity subject to authorization under the laws on financial markets (art. 1, para. 1, FINMASA).

A person is entitled to lead an audit according to art. 2, let. a, ch. 2 (lead auditor), if it meets the following requirements: a. it is approved as an expert reviewer within the meaning of art. 4; b. it has the required technical knowledge and the experience necessary to perform an audit in accordance with laws on financial markets (art. 1, al.) 1. FINMASA).

In derogation from art. 4, al. 4, professional practice acquired audits within the meaning of art. 24, al. 1, let. a and b, FINMASA can be considered for approval within the meaning of para. 2, let. The federal Council may provide for conditions eased for the grant of approval to audit firms and Auditors to perform the audit of the financial intermediaries directly subject to the federal supervisory authority of financial markets (FINMA) within the meaning of art. 2, al. 3, of the Act of 10 October 1997 on money laundering (LBA).

The federal Council shall determine the measures to be taken to ensure respect for professional secrecy for lawyers and notaries who act as Auditors responsible for the checks within the meaning of the LBA made with lawyers and notaries as well as the specific conditions for the grant of approval on them.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 956.1 SR 955.0 art. 10 repealed by chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), with effect from Jan 1. 2015 (2014 4073 RO; 2013 6147 FF).

Section 4 Obligations of companies in revision submitted to the supervision of the State art. 11 independence in addition to the General legal obligations governing the independence of the Auditors (article 728 CO), companies in revision submitted to the supervision of the State are required to observe the following rules when providing services in the area of review to public interest corporations: a. fees they collect annually to review benefits and other services they provide to a society similarly to other companies, combined with her under a single management (Group) must not exceed 10% of the total amount of fees received; b. when a person who exercised leadership in the setting of accounts within a society or decision-making functions entered the service of a business review in which she is called to occupy a leadership role, review company is not authorized to provide this company to review and benefits for two years from the entry into office of that person with his new employer; c. when a person who has contributed to the accounts within a company enters the service of a business review, it cannot provide this company to revision for two years and benefits from taking office for his new employer.

A public company can enlist the services of individuals who, during the previous two years, led services in the area of review for this company or who exercised decision-making functions in the enterprise concerned review.

RS 220 art. 12 quality assurance review companies subject to the supervision of the State take all necessary measures to ensure the quality of their services in the area of review.
They develop an appropriate organization and issue written instructions in particular on: a. commitment, training and professional development, evaluation, the right of signature and behavior of employees; (b) the acceptance of new mandates to review and the continued enforcement of existing mandates; c. supervision of the measures to ensure the independence and quality.

When they provide different benefits for the revision, they guarantee in particular: a. the adequate distribution of tasks; b. the supervision of work (c) compliance with the provisions and standards for control and independence; d. subsequent scrutiny of the results of the review by a qualified and independent person.

Art. 13 access to local...
Review subject to the supervision of the State organizations, at any time, grant access to their premises to the supervisory authority.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Repealed by no I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), with effect from Jan 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 14 communications to the monitoring authority review companies subject to the supervision of the State update each year, as of June 30, the documents that they have attached to their approval request and communicate them to the supervisory authority on 30 September at the latest. Documents that have not changed are not communicated to the supervisory authority.


Repealed by no I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), with effect from Jan 1. 2015 (2014 4073 RO; 2013 6147 FF).

Section 5 approval and supervision art. 15 accreditation and registration the supervisory authority statue, on request, on approval: a. Auditors; b. Auditors experts; c. review companies subject to the supervision of the State; d. corporate audit and the Auditors audits according to the laws on financial markets (art. 1, para. 1, FINMASA) pursuant to art. 9. the supervisory authority may restrict approval to the provision of certain types of services in the area of review for some companies in the public interest.
She keeps a register of individuals and companies in revision approved. The register is public and can be consulted on the Internet. The federal Council shall regulate the content of the register.
Individuals and companies in revision entered in the register shall notify the supervisory authority any change in facts registered.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 956.1 introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 15aObligation to inform and connect people and businesses below provide the supervisory authority all information and documents necessary for the performance of its tasks: a. licensed individuals and companies in revision; b. people physical members of the supreme management body or administration or management of a company for review and without approval of the supervisory authority; c. review company employees and people that She appealed for the provision of services in the area of review; d. revised companies; e. societies who form a group with the revised company and whose accounts must be consolidated, as well as their review bodies.

People and businesses referred to in para. 1, let. has and b, communicate, immediately and in writing, to the supervisory authority any event important for approval or oversight.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 16 control of the companies in revision submitted to the supervision of the State all three years at least, the supervisory authority is conducting a thorough control of the companies in revision subject to the supervision of the State.
Every five years, review companies subject to the supervision of the State that provide only benefits for the revision to the undertakings referred to in art. 9, art. 4, are subject to control of the supervisory authority. The supervisory authority may extend the controls cycle in motivated cases.
When the supervisory authority suspected that a company of violating its legal obligations, it shall immediately proceed to the necessary checks without taking into account the cycles of control provided for in the al. 1 and 1.
It controls: a. the accuracy of the data contained in documents attached to the application; b. the respect by the company of its legal obligations and standards of review and quality assurance that it has recognized and the compliance of its benefits to professional ethics, ethics and, if necessary, to the listing rules; (c) the quality of the services provided for review by sampling; d. the respect by the company of the guidelines it gave him and their application.

It establishes for the upper body, management or administration of the company to review a written report on the results of audits.
If it finds that the company subject to the supervision of the State has breached its legal obligations, she addressed to him a written warning, gives guidelines to regularize his situation and him sets a deadline of 12 months at the most for this purpose. For good cause, it can be an appropriate extension.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RO 2008 757 art. 16aNormes review and quality assurance review companies subject to the supervision of the State conform to standards review and quality assurance when providing services in the area of review within the meaning of art. 2, let. a, point 1.
The supervisory authority is recognized at the national or international standards of review. If these standards are insufficient or they are totally lacking, it can enact its own standards, to supplement existing standards or to modify.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 17 withdrawal of approval when a Chartered natural person or a company approved revision no longer meets the conditions for approval referred to in art. 4 to 6 or 9a, the supervisory authority may withdraw approval for a fixed or indefinite period. When the person concerned is able to regularize his situation, the supervisory authority previously addressed a communication of withdrawal. She address him a written warning if the revocation is disproportionate.
When a business subject to the supervision of the State no longer meets the conditions or repeatedly violated accreditation or way serious legal obligations, the supervisory authority may withdraw approval for a fixed or indefinite period. Beforehand, she addresses a communication of withdrawal, unless the company has seriously contravened the Act.
The supervisory authority informs the companies concerned and the scholarship of the withdrawal of approval.
When the withdrawal is delivered for a fixed term, the person or company concerned review continues to be subject to the obligation to inform and communicate according to art. 15A during the duration of the withdrawal.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 18 measures for individuals working on behalf of a company to review subject to the supervision of the State when an individual working on behalf of a company to review subject to the supervision of the State violates legal obligations, the supervisory authority addressed to him a written warning. If this person repeatedly violates or how serious its legal obligations, the supervisory authority may forbid him to exercise his activity for a fixed or indefinite period and withdraw, as appropriate, approval to the senses of the art. 17, al. 1 art. 19 supervisory authority public information publishes each year a report on its activities and its practice.
It informs the public of closed or ongoing procedures if overriding, public or private, interests so require.

Art. 20 recourse to third party services may the supervisory authority in the performance of its tasks use the services of third parties.
Third party appeals to which the supervisory authority must be independent of enterprise of review subject to the supervision of the State and companies to which it provides services for the revision.
They keep the secret on the findings made in the exercise of their functions.

Art. 21 funding the supervisory authority collects fees for the decisions she makes, the controls to which it proceeds and benefits it provides.
In order to ensure the financing of the monitoring costs that are not covered by fees, the supervisory authority sees companies in revision submitted to the supervision of the State an annual fee of surveillance. It is a function of the amount of costs recorded during the financial year and takes account of the economic importance of review company.
The federal Council shall regulate the terms, in particular the amount of the emoluments, the calculation of the monitoring fee and their breakdown between controlled companies in revision.

Section 6 administrative Assistance and mutual assistance art. 22 Swiss supervisory authority and other regulators Swiss surveillance authorities shall communicate all information and documents necessary for the implementation of the applicable legislation. They coordinate their monitoring activities in order to avoid a double check.
They inform each other of pending proceedings and decisions that may be important for the exercise of their respective monitoring activities.

New content according to section 1 of the annex to the L Sept. 26. 2014 on the supervision of insurance, in effect since Jan. 1. 2016 (2015 5137 RO; 2012 1725 FF).
New content according to section 1 of the annex to the L Sept. 26. 2014 on the supervision of insurance, in effect since Jan. 1. 2016 (2015 5137 RO; 2012 1725 FF).

Art. 23 grants the supervisory authority and the scholarship coordinate their monitoring activities in order to avoid a double check.
They inform each other's ongoing procedures and decisions which may be important for the exercise of their respective monitoring activities.
The scholarship pronounce sanctions that are needed when the sanctions of the supervisory authority, as a result of violations of art. 7 and 8, can be implemented.

Art. 24 prosecution authorities the supervisory authority and the criminal prosecution authorities shall communicate to each other all information and documents necessary for the application of this Act.
The criminal prosecution authority may use information and documents obtained from the supervisory authority on the basis of the criminal proceedings for which mutual legal assistance has been granted. She doesn't have the right to communicate such information and such documents to third parties.
When, in the discharge of his official duties, the supervisory authority has been informed of violations, she informs the competent prosecution authorities.
Prosecution authorities inform the supervisory authority of all procedures that are related to a provision for review provided by a company of review subject to the supervision of the State; They shall communicate the judgments and orders of classification. In particular, they should report procedures for violations of the following provisions: a. art. 146, 152, 153, 161, 166, 251, 253 to 255, and 321 of the criminal code; (b) art. 47 of the law of 8 November 1934 on banks; c. art. 43 of the law of 24 March 1995 on scholarship; d. art. 147 of the Act of 19 June 2015 on the infrastructure of the financial markets.

RS 311.0 RS 952.0 RS 954.1 introduced by section 2 of the annex to the Federal ACT of 19 June 2015 on the infrastructure of financial markets, in effect since Jan. 1. 2016 (2015 5339 RO; FF 2014 7235).
RS 958.1 art. 25 civil courts cantonal courts and the federal court shall inform the supervisory authority of all procedures related to accountability in the review (art. 755 CO) in relation to a service provided by a company of review under supervision of the State; They shall communicate the judgements and other decisions terminating such procedures.

RS 220 art. 26 cooperation with foreign authorities to monitor the activities of review the supervisory authority may apply to foreign authorities to monitor the activities of revision that they transmit the information and documents necessary for the execution of this Act.
The supervisory authority may communicate to the foreign authorities of information and documents not available to the public if these authorities: a. use this information exclusively for purposes of direct supervision of individuals and companies providing services in the area of review; b. are bound by secrecy or professional secrecy; the provisions applicable to advertising of procedures and information to the public on such procedures are reserved; c. don't pass on this information to other authorities and agencies who have oversight functions dictated by the public interest and are bound by secrecy or professional secrecy only with the prior approval of the Supervisory Authority authorisation provided for in an international convention.


The supervisory authority refuses to access requests from foreign authorities, when the information is supposed to be passed on to criminal prosecution or to other authorities and agencies empowered authorities to impose administrative penalties in cases for which mutual legal assistance in criminal matters is excluded due to the nature of the offence. The supervisory authority shall decide on applications in conjunction with the federal Office of justice.
Within the limits of the al. 2, the federal Council is empowered to settle the collaboration with foreign authorities in international conventions.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 27 cross-border controls the supervisory authority may request to foreign authorities that conduct inspections on their territory. It can itself carry out checks abroad if she is expressly authorized by an international convention, or if the foreign authority previously gave him approval.
At the request of foreign authorities, the supervisory authority can carry out on their behalf checks on Swiss territory, provided that the requesting State grants reciprocity. Art. 26, al. 2 and 3, shall apply by analogy.
As may be expressly permitted by international agreement or with the prior approval of the supervisory authority, foreign authorities may proceed themselves to controls on Swiss territory, provided that the requesting State grants reciprocity. Art. 26, al. 2 and 3, shall apply by analogy.
The supervisory authority may accompany representatives of foreign authorities on the controls they operate on Swiss territory. The person or business concerned may require the presence of the supervisory authority.
When the supervisory authority conducts inspections on behalf of foreign authorities (al. 2) or she accompanies foreign authorities during the controls that they operate on Swiss territory (al. 4), she has the same skills against the company concerned review and revised companies against companies in revision submitted to the supervision of the State and companies reviewed by them.
Within the limits of the al. 2 and 3, the federal Council is empowered to set the collaboration with foreign authorities in international conventions.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Section 7 organization of the authority of surveillance art. 28 supervisory authority supervision within the meaning of this Act is the federal authority of oversight review (supervisory authority).
The supervisory authority is an institution with its own legal personality. She supervises independently (art. 38).
It is independent in its organisation and in the conduct of its operation and maintains its own accounts.
The supervisory authority is managed according to the principles of business economics.
She has standing to appeal to the federal court under this Act.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 29 bodies the bodies of the supervisory authority are: a. the Board of Directors; (b) the direction;

c. the Auditors.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 30Conseil of Directors the Board of Directors is the supreme body. It comprises more than five members qualified and independent branch of the revision.
Its members are elected for a period of four years. Each Member may be re-elected twice.
The federal Council appoints the members of the Board of Directors and appoints its Chairman.
The members of the Board of Directors fulfil their tasks and obligations with due care and faithfully ensure the interests of the supervisory authority.
The federal Council may dismiss one or more members of the Board of Directors for good cause.
It sets the compensation of the members of the Board of Directors. Art. 6, art. 1 to 4, of the Act of March 24, 2000, on the staff of the Confederation (FPL) applies to fees of the members of the Board of Directors and to the other terms agreed to with these people.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
SR 172.220.1 art. 30aAttributions of the Board of Directors the Board of Directors has the following powers: a. it enacts the organisational regulations of the supervisory authority; b. it sets the strategic objectives of the supervisory authority, submits them to the approval of the federal Council and an annual report on their achievement; c. it enacts Ordinances delegated to the supervisory authority; d. it takes organisational arrangements to preserve the interests of the supervisory authority and avoid conflicts of interest; e. it concludes the contract of affiliation to the pension of the Confederation (PUBLICA) and submits it to the approval of the federal Council; f. it regulates the composition, election and the Organization of the joint body of the Provident Fund; g. he decides the conclusion, amendment and termination of the contract of employment of the Director; the conclusion and termination of the contract require the approval of the federal Council; h. he decides, on a proposal from the Director, the conclusion, amendment and termination of the contract of employment of the other members of the management i. he supervises over management; j. establishing a system of internal control and of a suitable risk management system ensures; k. he decides the allocation of reserves; 1. It approves the budget; Mr. it establishes and adopts every year a management report and to submit the final version to the approval of the federal Council; It offers simultaneously to give discharge to the Board of Directors and publishes the annual report after its approval by the federal Council.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 31Direction management is the executive body. She has headed by a Director.
Management has including the following powers: a. directs Affairs; b. She makes decisions in accordance with the terms of the regulations of the Board of Directors; c. develop the basics of decision of the Board of Directors d. She regularly reports to the Board of Directors and inform him immediately in the event of particular event; e. it represents the supervisory authority; f. She decides to the conclusion modification and termination of the employment contracts of the staff of the supervisory authority, subject to art. 30A, let. g and h; g. is entitled to serve organizations and international bodies dealing with affairs relating to the supervision of the review; h. She accomplished all the tasks that this Act does not assign to another body.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 32Organe to review the federal financial control is the external auditors.
The provisions of the joint stock company law apply by analogy to the review and the review body.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 33 the supervisory authority staff committed its staff on the basis of reports of private law.


Art. 6, art. 1 to 4, FPL applies by analogy to the salary of the Director as well as members of the Executive and the rest of staff with comparable treatment as well as the other clauses agreed with these people.

Repealed by no I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), with effect from Jan 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 172.220.1 new content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. pension 33aCaisse the members of management and staff are insured with PUBLICA in accordance with art. 32A to 32 m FPL.
The supervisory authority is employer within the meaning of art. 32b, al. 2, FPL.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
SR 172.220.1 art. Function 34Secret personnel and members of the bodies of the supervisory authority are required to keep secret the service business.
The obligation of confidentiality remains after the end of the relationship work or the period of service.
Employees and members of a body of the supervisory authority cannot speak as part of a hearing or proceedings as a party, witness or expert on facts related to their function and identified in the performance of their duties only if it has been authorized to do so by the supervisory authority.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 34aObligation to denounce, right to denounce and protection employees are required to report to their superiors, to the Board of Directors, to the federal financial control or to the criminal prosecution authorities all crimes and offences prosecuted automatically in connection with internal facts to the service which they have knowledge, or which have been reported to them in the exercise of their functions.
People who have the right to refuse to file or to testify to the senses of the art. 113, al. 1, 168 and 169 of the code of criminal procedure are not subject to the obligation to report and testify.
Employees have the right to report to their superiors, to the Board of directors or the federal financial control other irregularities which they have knowledge, or which have been reported to them in the exercise of their functions.
No one should suffer a disadvantage professionally to have, in good faith, reported an offence or reported an irregularity.
Duty to report external facts service is governed by art. 24, al. 3. introduced by chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 312.0 art. management 34bRapport management report includes the report of activity within the meaning of art. 19, al. 1, the annual accounts and the report of the Auditors.
The annual accounts include the balance sheet, the profit and loss account and annex.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 35 accounting principles, the budget and the annual accounts of the supervisory authority are separated from the budget and the accounts of the Confederation.
The provisions of the CO governing business accounting and the presentation of the accounts apply by analogy to the accounts.
The supervisory authority is the reserves which are necessary for the exercise of its supervisory activities; their amount must not exceed an annual budget.

RS 220 new content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 36 cash the supervisory authority has a current account with the Confederation and ground its surplus revenue from the Confederation at the market interest rate.
Confederation grants loans to the supervisory authority at the market interest rate to finance its implementation and ensure its capacity to pay.

Art. 36aresponsabilite 1 the liability of the supervisory authority, its organs, its staff and third parties services which it uses is governed by the law of 14 March 1958 on the responsibility, subject to para. 2. 2 the responsibility of the supervisory authority is committed to the following conditions: a. the supervisory authority has violated the essential duties of service; b. damage has not been caused by reviewer, the expert reviewer, or the company of review who have violated their obligations.

The responsibility of audit firms designated under art. 24, al. 1, let. a, FINMASA is governed by the law of anonymous society (art. 752 to 760 CO).

Introduced by section 3 of the annex to the LF Dec. 23. 2011 (accounting law), in force since Jan. 1. 2013 (2012 6679 RO; 2008 1407 FF).
RS RS RS 220 956.1 170.32 introduced by chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Art. 37 tax exemption the supervisory authority is exempt from any tax federal, cantonal or communal level.

Art. Material 38independance and monitoring the supervisory authority is independent in the performance of its tasks.
It is subject to the administrative supervision of the federal Council. This administrative surveillance includes to: a. appoint and dismiss the members and the Chairman of the Board of Directors; (b) approve the conclusion and termination of the contract of employment of the Director; c. approve the contract of adhesion publica; d. approve the management report; e. approve objectives strategic; f. consider each year whether strategic objectives; g. to grant discharge to the Board of Directors.

The supervisory authority regularly reviews its strategic objectives and the fulfilment of its tasks with the federal Council.

New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).

Section 8 provisions criminal art. 39 tickets will be punished with a fine of 100,000 francs to most anyone who: a. contravene the rules on independence within the meaning of art. 11 of the Act and art. 728 CO; b. contravenes the obligation to communicate according to art. 15, art. 2; c. contravene the duty to report according to art. 15, al. 3; (d) violates any provision of enforcement of this Act, as the breach was declared punishable by federal Council; (e) contravene a decision or a measure that has been taken by the supervisory authority and has been served under the threat of the penalty provided for in this section.

If the author is negligent, the fine is 50,000 francs at most.
The supervisory authority pursues and judge these tickets in accordance with the provisions of the Federal law on administrative penal law of March 22, 1974.
The pursuit of contraventions to the act within seven years.

RS 220 new content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 313.0 art. 39aInfractions committed in a company it is possible to prosecute individuals punishable under art. 39 and condemn their place the company to pay the fine under the following conditions: a. the investigation would make it necessary for people punishable under art. 6 of the Federal Act of 22 March 1974 on administrative penal law of measures of inquiry out of proportion to the penalty; ETB. the fine applicable to account for violations of the provisions of this Act does not exceed 20,000 francs.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 313.0 art. 40 crimes is punished with a custodial sentence of more than three years or a monetary penalty anyone who:

a. provides a provision for review without required approval or despite the ban its activity a. falsely CITES or ignores important facts in the review report, the audit report or the certificate of audit; b. does not enable the authority of monitoring access to its premises (art. 13, para. 2), don't provide information or the required documents (art. 15A al. (1) or furnishes false or incomplete information; c. as a company review subject to the supervision of the State contravene the obligations of documentation and conservation of parts within the meaning of art. 730 c CO; d. working as a third party on behalf of the authority monitoring or after the end of this activity (art. 20), discloses a secret entrusted to him or which he had knowledge in that capacity; the Federal and cantonal provisions governing the obligation to testify and the obligation to provide information to an authority are reserved.

If the author is negligent, the fine is 100,000 francs at most.
The criminal prosecution and judgment are the responsibility of the cantons.

New content according to art. 333 CC, in the content of the Federal ACT of 13 Dec. 2002, in force since Jan. 1. 2007 (2006 3459 RO; FF 1999 1787).
Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
New content according to chapter I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 220 Section 9 provisions final art. 41 run the federal Council adopts the enforcement provisions. It may authorize the supervisory authority to issue more detailed provisions.

Art. 42 change of the law in force the change in the law in force is set in the annex.

Art. 43 transitional provisions when a natural person or a company to review performs the tasks of a review body, this Act shall apply from the day of the new provisions relating to the Auditors of 16 December 2005 entry into force.
When individuals or companies in revision provide other benefits for the revision, the new law is applicable upon entry into force of this Act.
Individuals and businesses of review which, within four months following the entry into force of this Act, have petitioned to the supervisory authority for approval as a reviewer, expert-reviewer or company to review subject to the supervision of the State can provide review and benefits provided for in art. 2, let. a, until the decision on accreditation. The supervisory authority confirms in writing to the applicant filing the request within the time scheduled. She informs the scholarship of the filing of applications for accreditation company of review subject to the supervision of the State.
Is recognized as professional practice within the meaning of art. 4, which has been acquired for a maximum period of two years from the entry into force of this Act under the supervision of people who meet the requirements posed in the order of 15 June 1992 on professional qualifications of particularly qualified reviewers.
Is recognized as professional practice within the meaning of art. 5 that has been acquired for a maximum period of two years from the entry into force of this Act under the supervision of people who meet the training requirements laid down in art. 4, al. 2. the supervisory authority may, for the case of hardship, recognize a professional practice which does not meet the requirements of the law when it is established that review and benefits can be provided properly on the basis of practical experience of many years.

[1992 1210 RO]

Art. Transitional 43aDispositions of the amendment of 20 June 2014 review and benefits which the provision is subordinate, according to the new law, to approval of the federal oversight review authority can still be performed with the approval granted by the FINMA under the old law up to one year after the entry into force of the amendment of June 20, 2014.
The supervisory authority takes over all the procedures opened by FINMA against for audit companies providing services of audit within the meaning of the laws on financial markets (art. 1, para. 1, FINMASA) and against Auditors open before the entry into force of the amendment of June 20, 2014, not yet entered into force.

Introduced by section I of the Federal ACT of 20 June 2014 (Concentration of oversight of the companies review and audit firms), in force since Jan. 1. 2015 (2014 4073 RO; 2013 6147 FF).
RS 956.1 art. 44 transitional provision relating to the General provisions of the Federal procedure remedies apply. Moreover, until the entry into force of the Act of 17 June 2005 on the Administrative Tribunal federal, legal remedies are set as follows: the Board of appeal of the DFE shall decide on appeals against decisions of the supervisory authority.

RS 173.32, in force since Jan. 1. 2007 art. 45 referendum and entry into force the present law is subject to the referendum.
The federal Council shall determine the date of entry into force.

Annex (art. 42) amendment of the law in force.

Mod. can be found at the RO 2007 3971.

Status January 1, 2016

Related Laws