Rs 221.302.3 Order Of 22 August 2007 On The Approval And Oversight Of Auditors (Ordinance On The Supervision Of The Revision, Osrev)

Original Language Title: RS 221.302.3 Ordonnance du 22 août 2007 sur l’agrément et la surveillance des réviseurs (Ordonnance sur la surveillance de la révision, OSRev)

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.
221.302.3 order on accreditation and the oversight of Auditors (Ordinance on the supervision of the revision, OSRev) of August 22, 2007 (Status January 1, 2016) federal Council, having regard to art. 10, al. 2, 15, al. 2, 21, al. 3, 33, al. 2, 39, al. 1, let. d, and 41 of the Act of 16 December 2005 on the supervision of the revision (LSR), under art. 936 of the code of obligations (CO), under art. 46A of the Act of 21 March 1997 on the Organization of Government and administration (LOGA), stop: Section 1 authorisation for the provision of services to review s. 1 application for registration shall submit a request for approval to the supervisory authority: a. any individual who wishes to provide benefits to review as a reviewer or expert-reviewer; b. any undertaking review who wishes to provide benefits to review as a reviewer, expert auditor or review subject to the supervision of the State Enterprise; c. any natural person who , on the basis of the approval according to the let. a, wishes to be approved as an auditor responsible for auditing according to the laws in the financial markets within the meaning of art. 1, al. 1, of the Act of June 22, 2007 on the monitoring of financial markets (art. 9, para. 2, TRS); d. any company reviewed which, on the basis of the approval according to the let. b, wishes to be approved by an audit company according to the laws on financial markets (art. 9, para. 1, TRS).

The applicant must attach to the application the proof of payment of the fee due for approval according to art. 38. introduced by c. 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
RS 956.1 introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 2 form of the application the applicant transmits the application in electronic form and on paper.
The paper application must be signed.

S. 3 content of the application and documents the application must contain all the particulars and indicate all the documents certifying that the conditions for authorisation are fulfilled.
The applicant presents documents only at the request of the supervisory authority.
A copy of the original documents is sufficient in principle. The supervisory authority may require the original or a copy certified, on paper or in electronic form.
The supervisory authority may procure itself documents with the prior consent of the person or undertaking concerned.

S. 4 guarantee of impeccable to be approved revision activity, the applicant must have an impeccable reputation and no other personal circumstances should indicate that it does not all guarantees of an irreproachable revision activity.
Are to be considered: a. criminal convictions; b. the existence of acts of defect of goods.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 5diplome issued by a university or a technical college diploma issued by a university or a University of applied sciences means (art. 4, al. 2, let. c, TRS) one issued at the end of the undergraduate study (studies bachelor) consisting of 180 credits or at the end of the second cycle of study (master studies) comprising in addition to 90 to 120 credits in accordance with the European system of transfer and accumulation of credits (ECTS).

New content according to chapter I of O of April 18, 2012, in force since May 1, 2012 (RO 2012 1777).

S. 6Preuve of required knowledge Swiss law the applicant proves that there knowledge Swiss law by producing the attestation of successful completion of an examination recognized by the supervisory authority Regulation (art. 34).

New content according to chapter I of O from 10 nov. 2010, in effect since Dec. 1. 2010 (2010 5171 RO).

S. 7 supervision of professional practice professional practice is regarded as having been acquired under supervision if the applicant has worked formally subordinate, under the orders of a satisfactory specialist legal conditions.

New content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 8 entry in the trade register a natural person can provide self-employment benefits legally prescribed review that: a. If it is registered in the register of trade as a sole proprietorship; ETB. If itself and its individual business have been approved by the supervisory authority.

A revision headquartered abroad may not provide benefits to review within the meaning of Swiss law only if it has a branch registered in the Swiss trade register.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
New content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 9 management structure review company has a management structure ensuring adequate supervision of the implementation of the various mandates if: a. it has an internal quality assurance system; and Quebec. the adequacy and effectiveness of the principles and quality assurance measures subject to supervision.

Review companies that do not perform regular controls but tight controls and in which only one person has the necessary approval may instead operate an internal quality assurance system and to oversee the adequacy and effectiveness, to join a system of regular assessment of potency by review by professionals of the same rank.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 9aagrement for companies in revision with a seat abroad companies review headquartered abroad are approved company to review subject to the supervision of the State: a. If they meet the requirements according to art. 9 TRS or equivalent requirements; ETB. If they guarantee compliance with the obligation to inform and communicate as well as access to the Swiss supervisory authority premises.

Review foreign companies providing services to review within the meaning of the Swiss law to Swiss public companies are subject to the supervision of Swiss authorities.

Introduced by the c. of o. from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

S. 10Reconnaissance of foreign supervisory authorities the recognition of equivalent foreign supervisory authorities can be assessed on the basis of recognition by other States or international organizations and be made subject to the granting of reciprocity.
Supervisory authorities recognized within the meaning of art. 8, al. 2, TRS are cited in annex 2.
For proper reasons, the supervisory authority can work with the recognized foreign supervisory authority, even if the obligation to approve according to art. 8, al. 2, LSR applies not to the undertaking of foreign review.

New content according to chapter I of O from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

S. 10aEntreprises revision exempted from the requirement to obtain an approval according to art. 8, al. 2, TRS review companies headquartered abroad that provide benefits to review according to art. 8, al. 1, let. a, TRS, and which are subject to the supervision of a foreign authority recognized by the federal Council must announce to the authority of Swiss monitoring immediately after the listing of the securities on a Swiss stock exchange.
The supervisory authority publishes the list of review companies that themselves are announced, stating: a. name and address of the competent foreign supervisory authority; b. where applicable, the approval or foreign registration number.

In the event of termination of foreign accreditation, the revision shall register at the Swiss supervisory authority. It must have an approval in Switzerland and is removed from the list under para. 2. introduced by the c. of o. from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

S. 11 sufficient insurance against civil liability risks a company to review subject to the supervision of the State is regarded as having sufficient coverage against civil liability risks if it has a pecuniary damage insurance covering risks civil liability relating to the revision of public interest corporations or if it has equivalent financial securities.
The sum insured must be mounted at a minimum, for all claims over a year, to: a. 5 million francs if review fees exceed CHF 20 million; b. 2 million francs if revision fees are between 10 and 20 million francs; v. 1 million francs in all other cases.

Are understood as fees for review within the meaning of para. 2 those which appear in the latest annual accounts approved undertaking review subject to the supervision of the State in respect of revision services provided to public interest corporations.
The al. 2, let. c, applies to review companies subject to the supervision of the State that record any honorary review from public interest corporations.

In a given case, the supervisory authority can increase the sum insured if it is not in line with the activity of the company or with the risks arising therefrom and the management of these risks.
She decides, on case by case, financial securities that should be considered as equivalent within the meaning of para. 1. the undertaking to review subject to the supervision of the State is required to communicate immediately to the supervisory authority any change in the contract of insurance. This provision applies by analogy to the equivalent financial securities.

S. 11aagrement for the audit according to the laws on financial markets surveillance authority grants approvals review undertakings subject to the supervision of the State as well as Auditors responsible for the audit according to the laws on financial markets: a. banks according to the law of 8 November 1934 on banks, financial markets infrastructure, financial groups and the takeover bids under the law of 19 June 2015 on the infrastructure of financial markets securities dealers under the Act of March 24, 1995 on the stock exchanges and central issuance of bonds under the law of June 25, 1930, on the issuance of Pfandbriefe; b. of insurance companies under the law of 17 December 2004 on insurance supervision; v. directions of funds, funds investment, SICAV Partnership for collective investment, public investment fund, managers of collective investment schemes and companies representatives of foreign collective investment under the law of 23 June 2006 on investments collectives; d. financial intermediaries directly subject to the supervisory authority of financial markets (FINMA) under the law of 10 October 1997 on money-laundering (LBA).

Self-regulatory within the meaning of the LBA shall grant approvals auditing companies and responsible for listeners who exclusively audit financial intermediaries affiliated with a self-regulatory body.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
New content according to ch. 2 of annex 1 to the O of 25 nov. 2015 on the infrastructure of the financial markets, in force since 1 Jan. 2016 (2015 5413 RO).
RS 952.0 RS 958.1 RS 954.1 RS 211.423.4 RS 961.01 RS 951.31 RS 955.0 art. sufficient 11bOrganisation a company of revision is sufficiently organized to perform audits according to the laws on financial markets (art. 9, para. 1, let. b, TRS) when she: a. has at least two responsible Auditors approved in the field of surveillance for which approval is required under art. 11a; b. has, not later than within three years following the grant of approval, at least two terms of revision in the field of surveillance for which the approval is required under art. 11A; c. respects the provisions relating to the documentation and conservation of the parts according to art. 730c CO regardless of its legal form.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 11cincompatibilite with the exercise of an activity subject to authorization according to the laws in the financial markets is not compatible with the approval as a firm of Auditors for auditing within the meaning of art. 2, let. a, c. 2, LSR, the exercise of an activity subject to authorization according to the laws on financial markets (art. 9, para. 1, c, TRS) by the following persons: a. the companies under a single management with the audit firm; b. individuals owning, directly or indirectly, at least 10% of the capital or of the voting rights of a company within the meaning of the let. a or, otherwise, exercise a significant influence over its management.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. technical 11dConnaissances and experience for auditing banks, exchanges, dealers in securities and central issuance of letters of guarantee a responsible auditor has the required technical knowledge and experience necessary to carry out an audit of banks, financial market infrastructures, groups financial and takeover bids, dealers securities and central issuance of letters of guarantee (art. 11A Let's. (a) if he can establish: a. experience of eight years in the provision of benefits to review (art. 2, let a TRS) acquired in Switzerland or, insofar as it is equivalent, abroad; b. 1500 hours of audit in the areas of monitoring of this article; c. 24 hours of continuing education in the areas of monitoring of this article made in the year preceding the filing of the application for approval.

A responsible auditor continues to have the necessary technical knowledge and the experience necessary to carry out an audit under this section if he can establish: a. 400 hours of audit in the areas of monitoring of this article carried out in the past four years; b. 24 hours of continuing education annually performed in the areas of monitoring of this article.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
New content according to ch. 2 of annex 1 to the O of 25 nov. 2015 on the infrastructure of the financial markets, in force since 1 Jan. 2016 (2015 5413 RO).

S. technical 11eConnaissances and experience for the audit of insurance undertakings a responsible auditor has the necessary technical knowledge and experience needed to perform an audit of insurance companies (art. 11A, let. b) if he can establish: a. an eight years experience in the provision of benefits to review (art. 2, let. a TRS) acquired in Switzerland or, to the extent that it is equivalent abroad; b. 400 hours of audit in the field of monitoring of this article; c. sixteen hours of continuing education in the field of monitoring of this article made in the year preceding the filing of the application for approval.

A responsible auditor continues to have the necessary technical knowledge and the experience necessary to carry out an audit under this section if he can establish: a. 100 hours of audit in the field of monitoring of this article carried out in the past four years; b. of sixteen hours of continuing education annually performed in the areas of monitoring of this article.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. technical 11fConnaissances experience for directions of funds auditing, investment fund, SICAV companies partnership and collective investment, public investment fund, collective investment managers and representatives of foreign collective investment a responsible auditor has required technical knowledge and the experience necessary to carry out an audit of funds directorates, funds, SICAV, companies partnership collective investment schemes , SICAF, managers of collective investment schemes and representatives of foreign collective investment schemes (art. 11A, c) if he can establish: a. to eight years experience in the provision of benefits to review (art. 2, let. a TRS) acquired in Switzerland or, to the extent that it is equivalent, abroad; b. 800 hours of audit in the areas of monitoring of this article; c. sixteen hours of training continues in the areas of monitoring of this article carried out in the year preceding the filing of the application for approval.

A responsible auditor continues to have the necessary technical knowledge and the experience necessary to carry out an audit under this section if he can establish: a. 100 hours of audit in the areas of monitoring of this article carried out in the past four years; b. of sixteen hours of continuing education annually performed in the areas of monitoring of this article.

Audit of the depositary banks hours are accounted for in the areas of monitoring of this article.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. technical 11gConnaissances and experience for the audit of financial intermediaries directly subjected to the FINMA a responsible auditor has the necessary technical knowledge and experience needed to perform an audit of financial intermediaries directly subjected to the FINMA (art. 11A, let. d) if he can establish: a. a five years experience in the provision of benefits to review (art. 2 Let's. a, TRS) acquired in Switzerland or, insofar as it is equivalent, abroad; b. 200 hours of audit in the field of monitoring of this article; c. four hours of continuing education in the field of monitoring of this article in the year preceding the filing of the application for approval.

A responsible auditor continues to have the necessary technical knowledge and the experience necessary to carry out an audit under this section if he can establish:

a. 100 hours of audit in the field of monitoring of this article in the past four years; b. four hours of training continues annually performed in the field of monitoring of this article.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 11hFormation continues the training according to the art. 11(d) to 11g, including one based on new information technologies and distance courses, must at least meet the following criteria: a. continuing education includes the areas of audit as defined in art. 3 of the order of November 5, 2014, on the audits of the financial markets (OA-FINMA); b. external and internal seminars last at least an hour; v. internal seminars include at least three participants.

Account shall be taken of the actual duration of continuous training seminars. The activity of speaker at seminars as well as professional education count double by seminar or teaching.
The hours of individual study are not taken into account.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
RS 956.161 s. 11iConditions alleviated for the approval for the audit of financial intermediaries directly subject to the FINMA (art. 9, para. 4, TRS) a revision is approved as auditing firm to carry out the audit of the financial intermediaries directly subject to the FINMA (art. 11A, let. d) if: a. it enjoys an approval as an auditor in place of an expert auditor designation; b. the sum insured for all pecuniary damage mounts at least 250,000 francs; c. it fulfils the other conditions for the approval of the audit firms.

A natural person is approved as an auditor responsible for the audit of financial intermediaries directly subject to the FINMA (art. 11A, let. d) if: a. it enjoys an approval as an auditor in place of an expert auditor designation; b. it meets the other conditions for the approval of the responsible Auditors.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 11jagrement for the audit of the financial intermediaries affiliated to a body of self-regulation within the meaning of the LBA a responsible auditor auditing exclusively financial intermediaries affiliated with self-regulatory bodies can enforce the professional experience and hours of audit within the meaning of art. 11g, al. 1, let. a and b and 2, let. a, he acquired from these intermediaries.
Continuing education hours must be performed in the field of the LBA.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
SR 955.0 art. 11kagrement for the audit of lawyers and notaries according to the LBA a responsible auditor has the knowledge required for legislation on money laundering of money, the corresponding experience and training (art. 18, Al 4, c, LBA) when it meets the conditions laid down in art. 11g and 11j.
A person authorised to audit with lawyers and notaries laundering according to the LBA May, in derogation from art. 8, al. 1 conduct audits independently without approved individual undertaking registered in the register of commerce.
A person authorised to audit with lawyers and notaries laundering according to the LBA is independent of the Member subject to control when it meets the requirements of the art. 11 TRS and 728 CO.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
SR 955.0 art. 11lindependance for the audit according to the laws on financial markets independence (art. 11 TRS and 728 CO) provisions apply to the audit according to the laws in the financial markets taking into account prudential purpose audit.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 12 effect of the decision of approval the applicant cannot provide benefits to review only after approval by decision of the supervisory authority.
The admission of an enterprise to review subject to the supervision of the State or an expert auditor includes authority to provide benefits to review why federal law less stringent professional requirements.
Approval of a revision or a responsible auditor issued in a given monitoring field company does not include the permission to perform an audit according to art. 24, al. 1, let. a, of the law of June 22, 2007 on the monitoring of the financial markets in another area of surveillance.
Any approval issued in an area of surveillance according to art. 11A, let. a to c and also allows to verify, in the monitoring area, the compliance of the LBA.
Before the decision of approval, designations such as "reviewer approved", "expert-reviewer agree", 'responsible auditor certified', 'undertaking approved revision' 'undertaking to review subject to the supervision of the State' or "authorized audit company" may not be used.

RS 956.1 introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
RS 955.0 introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
New content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 13......

Repealed by Chapter 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, with effect from 1 Jan. 2015 (2014 4295 RO).
Repealed by the c. of o. from 1 Jul. 2015, with effect from Oct. 1. 2015 (2015 2439 RO).

S. 14 duty of cooperation individuals and companies which, according to their registration in the register of commerce, their business or their advertising, could be submitted to the TRS are required to provide to the supervisory authority upon request all documents and information it needs to examine whether their activities require approval.

S. 15 communication of withdrawal of approval when the supervisory authority shall withdraw approval to an individual or to a company for a specified or unspecified period, it shall inform the competent offices of the commercial register, if necessary the scholarship and the supervisory authorities that, under the terms of registration in the register of Auditors, it have authorized under a special law.

Section 2 register Auditors art. 16 repealed by Chapter 5 of the annex to the O of 15 oct. 2008 on the audits of the financial markets, with effect from 1 Jan. 2009 (2008 5363 RO).

S. 17 requirements for the registry the registry is held electronically.
The content can at any time be read electronically and be printed.
The data are searchable using search criteria.

S. 18 advertising entries in the register are public and accessible for free on the internet.
On request, the supervisory authority shall certify in writing than an individual or a company is licensed and registered in the register. It collects to do this a fee of 50 francs.
The application for approval, correspondence relating to licensing, the accompanying documents and the decision of approval are not public.

S. 19 individual registration of an approved individual includes the following: a. personal registration number; b. the name and FirstName; c. its place of origin; d. the date of approval; e. the nature of the approval f. where appropriate, mention of the provisional approval character; g. where appropriate, the functions of the person as well as the trade name or the name registered in the register of commerce , the address and the identification number of enterprises of the revised undertaking: 1. that the person is the leader or partner, 2 in which she sits on the superior body of Executive Directors or the management body, 3 in which it is used, or 4. that the person is bound similarly to c. 3;

h. where applicable, the reference to membership in a professional association; i. where appropriate, amenities arising from special laws Swiss and to provide benefits for revision, including the name and address of the certification authority.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 20 revision companies undertaking revision registration includes the following:

a. its identification number of enterprises; b. his trade name or name and its legal form as they are registered in the register of commerce; f; c. address and Headquarters so that for branches of companies in revision headquartered abroad, the reference to the main seat; d. date approval; e. the nature of the approval. as appropriate , the reference to provisional accreditation character; f. regulation whereby the internal quality assurance system is operated or, where appropriate, the reference to the absence of such a system (art. 49, al. 2); f. the type of external quality assurance, or, where appropriate, the reference to the absence of such a system; g. business identification number, address and seat all branches in Switzerland listed in the trade register; g. where appropriate , the references ensuring the traceability of entries, particularly during restructuring; h. where appropriate, the reference to membership in a professional association; i. where applicable, approvals from Swiss special laws and to provide benefits for revision, including the name and address of the authority for approval; j....

New content according to Chapter 2 of the annex to the O of 26 Jan. 2011 on the business identification number, in force since April 1, 2011 (RO 2011 533).
New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
Introduced by the c. of o. from 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
Introduced by the c. of o. from 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
Introduced by the c. of o. from 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
Repealed by the c. of o. from 1 Jul. 2015, with effect from Oct. 1. 2015 (2015 2439 RO).

S. 21agrement arising from special laws other Swiss supervisory authorities within the meaning of art. 22 TRS rely on the amenities of the supervisory authority to determine and assess the conditions for approval of special laws. They withdraw their approval if the supervisory authority withdraws his.
The other Swiss supervisory authorities directly proceed electronically to registration, modification and cancellation of the authorisations granted to individuals or to companies in the register of the supervisory authority to special legislation. The supervisory authority regulates the details of this access in an order.
The other Swiss supervisory authorities and the supervisory authority shall communicate any withdrawal of approval for a specified or unspecified period or any other modification of approval.

New content according to Chapter 1 of the annex to the O of 18 nov. 2015 on the supervision of insurance, in force since 1 Jan. 2016 (2015 5165 RO).

S. 21aTransfert of approval two companies in revision may ask the supervisory authority that it off-loads the approval of a revision to another company.
The supervisory authority forwards the approval: a. If the transfer of accreditation is based on the transfer of the corresponding activity; ETB. If the forwarding company fulfils the conditions for granting.

The transfer of the authorisation granted to a natural person is excluded.

Introduced by the c. of o. from 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 22 cancellation of the surveillance authority shall cancel the registration at the registry when: a. the person dies; b. the approved undertaking is dissolved and removed from the register of commerce; c. the approval shall be withdrawn for a specified or unspecified period; d. the authorized person or the approved firm requires it; e. the duration of the approval of the company's review has expired.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 22aRectification of the supervisory authority registry committed Office the procedure for rectification of the register if the latter does not, or more, to the facts or the legal requirements and that persons or revision companies in communication (art. 15, Al 3, TRS) do not or do not themselves require the rectification.
To this end, she sum people or companies of revision required to carry out the rectification, to ensure the correction of the register within 30 days or prove that no correction is necessary.
When the supervisory authority is unable to contact persons or companies of review held to require the rectification, it publishes the summation on the Federal worksheet.
When people or companies for review do not themselves provide the rectification, the supervisory authority so directs by decision.

Introduced by the c. of o. from 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 23Conservation and archiving of parts the supervisory authority retains the parts for each person and each company separately and in chronological order.
Documents relating to a person or a company are kept for 20 years from the last deposit. Parts can be destroyed ten years after radiation in the register of the person or business to which they relate. This rule does not apply to radiation of enterprises as a result of a merger, scission or in other cases of restructuring.
At the expiry of the retention period, the parts are available for archiving in the Federal Archives. The parts that are not classified as having archival value are destroyed.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 24 conservation in electronic form the supervisory authority may seize and retain parts in electronic form.
Once captured and kept in electronic form parts, their paper can be destroyed. The original documents are returned to the sender.

S. 25 requirements for electronic storage and data security electronic systems used for the keeping of the register and for the preservation of parts must meet the following requirements: a. the existence and quality of the data entered must be guaranteed in the long term; b. the data format should not depend on the systems electronic; c. the backup data must follow recognized standards and correspond to the current state of the art; d. program and the format of the data must be documented.

The supervisory authority rule in an order the question of the right of access to the data and the electronic system.
It enacts an operating rules concerning: a. the backup periodic data on decentralized media; b. the maintenance of data and electronic systems v. the protection of data and the electronic systems against abuse; d. measures to be taken in the event of technical electronic systems disruption.

S. 26 delivery of parts the supervisory authority and the other Swiss supervisory authorities may grant each other electronic access to claims accreditation, attachments and other parts.
The supervisory authority may refuse delivery of parts if: a. it has need for forming an opinion; b. their release might jeopardize an ongoing process or interfere with the activity of monitoring; c. delivery is inconsistent with the purposes of the surveillance of the revision.

New content according to Chapter 1 of the annex to the O of 18 nov. 2015 on the supervision of insurance, in force since 1 Jan. 2016 (2015 5165 RO).

S. 27 coordination with the authorities of the trade supervisory authority register can collaborate and Exchange data with the authorities of the trade register with a view to the application of the provisions of the CO and the TRS and their implementing provisions.

Section 3 controls review undertakings subject to the supervision of State art. 28 repealed by Chapter 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, with effect from 1 Jan. 2015 (2014 4295 RO).

S. 29. any person who directs the revision for each provision to review the undertaking review subject to the supervision of the State designates a responsible person (person who directs the revision).
It may designate as a person who leads review that people who work according to his instructions and who are familiar with his organization, work processes and its method of revision.
The person conducting the review sign the report or statement of revision.
The revision undertaking shall communicate immediately to the supervisory authority any change of person conducting the review and the reasons for this change.

S. 30Rapport the company to review subject to the supervision of the State establishes annually for the supervisory authority, a report on compliance with the legislation on surveillance for the fiscal year ending June 30 (monitoring report). The report must be submitted on 30 September at the latest.
The undertaking to review subject to the supervision of the State must not submit a report if it has been authorised in the current calendar year, or if it is controlled by the authority of monitoring during this calendar year.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 31 update of the documents attached to the application for approval


Undertaking review subject to the supervision of the State presents to the supervisory authority the updated documents attached to an application for approval at the same time as the report referred to in art. 30 s. 32 control procedure the supervisory authority can stagger at the time and according to the material control of the review undertakings subject to the supervision of the State.
It lays down the form and the control object and determines how to proceed.
It can carry out the control in conjunction with the other Swiss supervisory authorities.

New content according to Chapter 1 of the annex to the O of 18 nov. 2015 on the supervision of insurance, in force since 1 Jan. 2016 (2015 5165 RO).

S. 33controle revision companies voluntarily subject to the supervision of the State when the revision undertaking submitted voluntarily to the supervision of the State, the supervisory authority controls the review services provided to businesses that are not companies of public interest (art. 2, let. c, c. 1, TRS).
Revision companies intending to perform audits according to the laws on financial markets can voluntarily submit to the supervision of the State as long as they meet the condition of art. 11B, let. b. new content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

Section 4 authority of statutory auditors art. 34Reconnaissance of the examination regulations the supervisory authority recognizes a review regulations when it: a. includes the evaluation of the knowledge of the legal provisions and administrative Swiss necessary for the provision of benefits to review prescribed by law; and what ilb. provides that the review is proposed in all official languages; the examination regulations may also provide, in addition, to take the exam in English.

It can enact other provisions, including regarding the content of the examination regulations.
It can establish itself a regulation to review and organize examination sessions.

New content according to chapter I of O from 10 nov. 2010, in effect since Dec. 1. 2010 (2010 5171 RO).
New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 35 prevention of conflict of interest the Director and staff of the supervisory authority should be independent of the sector of the revision.


Repealed by Chapter 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, with effect from 1 Jan. 2015 (2014 4295 RO).

S. 36 equal body of the Provident Fund Board of Directors rule the composition, the election procedure and the Organization of the joint body of the Provident Fund of the supervisory authority. In the case of common Provident Fund, employers secure Assembly regulations.
Only can be elected as members of the joint body of competent persons and qualified for the exercise of their tasks of management. Gender and official languages must be fairly represented as far as possible.
Allowances paid to the members of the joint appeals body are set by the Commission of the Fund PUBLICA.

Section 5 fees and fee of surveillance art. 37 principle the supervisory authority receives a fee for its decisions, its controls and its benefits.
The General order of 8 September 2004 on fees is applicable unless specific provision of this order.

RS 172.041.1 s. 38agrement the supervisory authority collects a fee from the applicant for the following services: a. examination of the application for registration; b. renewal of the approval; c. the change of type of accreditation; d. the transfer of authorisation (article 21a).

The fee rises, by accreditation, to: a. 800 francs for individuals; b. 1500 francs for companies in revision.

The fee due for the initial approval of a sole proprietorship in which the head of the company is only to provide revision is offset by the fee he paid for the review of its own application for approval. In the event of renewal of the approval of individual companies, the fee payable by an individual is perceived.
A double charge is levied for the benefit of extraordinary magnitude. Disbursements are then charged separately.
The fee for companies in revision subject to the supervision of the State is calculated on the basis of the time spent. The hourly rate is 250 francs. The fee is at least 5000 francs. Companies that voluntarily submit to surveillance are also required to pay the fee.
When a company to review subject to the supervision of the State files simultaneously several applications for approval, the fees are calculated according to the time spent.
When a company of review subject to the supervision of the State performs only the audit of financial intermediaries directly subject to FINMA (art. 11A, let. d), the due fees amounted to 1500 francs.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
New content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 39 control of the review undertakings subject to the supervision of the State a fee calculated on the basis of the time spent is perceived for the control of a company to review subject to the supervision of the State.
It is 1000 to 2500 francs per day and per person for the staff of the supervisory authority, according to the degree of specialization required. For third parties, it is determined in accordance with the usual market rates.

S. 40. other decisions and benefits a charge calculated on the basis of the time spent is levied for other decisions and benefits. The hourly rate is 250 francs.


Repealed by the c. of o. from 14 nov. 2012, with effect from Dec. 1. 2012 (2012 6071 RO).

S. 41 adaptation to inflation the federal Department of justice and police may adapt the tariff of fees to inflation.

S. 42 fee of surveillance the surveillance authority collects annually from revision undertakings subject to the supervision of the State a fee surveillance fee for costs not covered by fees.
The fee surveillance fee to a company for review submitted to the supervision of the State is based on revision fees it has collected from all of the revision fees charged by all review undertakings subject to the supervision of the State. However, this fee is of at least 10,000 francs.
The fee is 2500 francs minimum for revision companies subject to the supervision of the State which only audit financial intermediaries directly subject to the FINMA (art. 11A, let. d).
Are determinants fees for review within the meaning of art. 11, al. 3. introduced by c. 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).

S. 43 duration of the imposition of the fee the fee surveillance fee is due for the duration of the approval.

S. 44 method of payment during the year, the supervisory authority charges the company to review held to pay the levy a deposit determined on the basis of its own budget.
It establishes the final statement in the first quarter of the following year on the basis of its annual accounts. The difference between the advance payment and the final statement is posted to the deposit of the following year.
The payment period is 30 days.
In case of dispute, the revision may require an appealable decision.

Section 6 Contraventions s. 45 is punished by a fine of 100,000 francs at most anyone who intentionally: a. gives misrepresentations in the application for registration; b. avails itself of a designation such as "reviewer approved", "expert-reviewer agree", "listener responsible for approved', 'enterprise approved revision', 'Enterprise review subject to the supervision of the State' or"authorised audit company"(art. 12, para. 3); c. violates, despite a prior warning , the duty of cooperation provided for in art. 14. If the perpetrator acts negligently, the fine is 50,000 francs at most.

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).
New content according to Chapter 1 of the annex to the nov 5 O. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
New content according to chapter II 1 of annex 2 to the O of 11 nov. 2015 on the laundering of money, in force since 1 Jan. 2016 (2015 4819 RO).
Introduced by the c. of o. from 14 nov. 2012, with effect from Dec. 1. 2012 (2012 6071 RO).

Section 7 provisions finals s. 46 repeal and amendment of existing law the repeal and amendment of existing law are set in the annex.

S. 47 provisional approval


Anyone who submits an application for approval with the proof of payment of the fee provided for in art. 38 within four months of the entry into force of the LSR receives a provisional approval to provide benefits to review. The provisional nature of the approval is indicated in the register of Auditors.
The request is rejected if it is clear that the conditions for approval are not met.
Review enterprise and individuals participating or employed by it must submit their application in a coordinated manner.
The applicant receives an electronic confirmation of provisional approval. The scholarship is informed electronically of all provisional approvals to review businesses subject to the supervision of the State.
The supervisory authority fixed to individuals and undertakings approved on an interim basis an appropriate period to pass the required documents. At the same time, she reported to them that the provisional approval will be removed if required documents are not sent within this period. Upon written request, it may extend the time of appropriately for proper reasons.
If the period provided for in para. 5 is not respected, it shall withdraw the provisional approval. It shall inform in writing the concerned supervisory authorities established under special laws and, where appropriate, the stock exchange and adjusts the registry. In this case, the application for registration may be renewed according to the ordinary procedure.
To review benefits provided under a provisional approval shall remain valid even if the natural person or the company shall be not approved permanently later.

S. 48 evidence of knowledge of Swiss law anyone who, within a period of four months after the entry into force of the LSR, filed an application for approval and is the holder of a foreign diploma crowning analogous to Swiss training training (art. 4, al. 2, let. d, LSR), is allowed temporarily to provide benefits to review provided training and obtain a diploma proving that he has knowledge of Swiss law. The provisional approval shall be withdrawn if the final diploma of this training is not obtained at August 31, 2008.
The persons referred to in the al. 1 don't are not required to train or to obtain a diploma proving that they have the knowledge required by Swiss law if during the three years preceding the application for approval, they worked mostly for a company to review with its seat in Switzerland and if they provided essentially revision under Swiss law enforcement.

S. 49systeme of quality assurance review companies that carry out regular checks must be from December 15, 2013, an internal quality assurance system which they oversee the adequacy and effectiveness (art. 9, al. 1).
Companies in revision which do not ordinary but controls limited, in which only one person has the necessary approval and lack of a quality assurance system, must be affiliated, from September 1, 2016, to a system of regular evaluation by professionals of the same rank (art. 9, al. 2).

New content according to chapter I to the O of 14 nov. 2012, effective Dec. 1. 2012 (2012 6071 RO).

S. 50 registration of physical persons according to the old law individuals may be approved pursuant to art. 43, al. 6, TRS as an experts-Auditors or reviewers if they prove: a. that they had done, to July 1, 1992, one of the training required by art. 1, al. 1 by order of 15 June 1992 on the professional qualifications of the specially qualified auditors and had practical experience required by this provision; b. they have, since July 1, 1992, worked mainly and without significant interruption in the fields of accounting and accounting review.

It is not necessary that they attest to a professional practice under supervision.

[1992 1210 RO]

S. 51 duty rotation the seven-year deadline for the rotation of persons who direct the revision (art. 730, para. 2 CO) begins to run upon the entry into force of the amendment of the code of obligations of 16 December 2005. Once this last entry into force, the person conducting the review may not review more than seven fiscal years.

2007 4791 s. RO Transitional 51aDispositions of 5 November 2014 changing the audit firms that audit exclusively financial intermediaries affiliated to a body of self-regulation within the meaning of the LBA (art. 11, para. 2) must meet the requirement of art. 11B, let. a, two years after the entry into force of this amendment.
Responsible for listeners who are approved by the FINMA or active in an organization of self-regulation within the meaning of the LBA the day of the entry into force of this amendment must meet the experience requirements in arts. 11 d, al. 2, let. a, 11th, al. 2, let. a, 11f, al. 2, let. a, 11g, al. 2, let. a, and 11 days, two years after the entry into force of this amendment.
Applications for approval of auditing companies and responsible for listeners who have not yet made a decision of the FINMA on the entry into force of this amendment are processed by the authority of monitoring implementation of the new law.

Introduced by c. 1 of the annex to the O of nov 5. 2014 on the audits of the financial markets, in force since 1 Jan. 2015 (2014 4295 RO).
SR 955.0 art. transient 51bDisposition on the amendment from 1 July 2015 review companies that provide benefits to review according to art. 8, al. 1, let. a, LSR, whose equity securities are listed on a Swiss stock exchange at the time of the entry into force of the amendment of July 1, 2015, and that the requirement to obtain a licence does not apply, must register at the most within the three months following the entry into force of the amendment of July 1, 2015, with the supervisory authority.

Introduced by the c. of o. from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

S. 52 entry into force this order comes into force on September 1, 2007, subject to the al. 2-4.
Art. 10, al. 1, comes into force on October 1, 2015. The art. 13, al. 2, and 20, let. j, in the content of August 22, 2007 did not come into force.
Art. 21 comes into force on September 1, 2009.
Ch. II/7, II/8 and annex II/9 come into force on January 1, 2008.

RO 2007 3989 new content according to chapter I of O from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

Annex 1 (art. 46) repeal and amendment of the law in force I order of 15 June 1992 on the professional qualifications of the specially qualified auditors is repealed.
II are amended as follows:...

Formerly Annex [RO 1992 1210] models can be found at the RO 2007 3989.

State 1 January 2016 Schedule 2 (art. 10, Al 2) list of recognized foreign authorities Chamber of reference and status (CRME/Evangeline) Belgium Committee for Public Oversight of Statutory Auditors (CPOSA) Bulgaria Danish Business Authority (DBA) incl. Danish Supervisory Authority on auditing (DSAA) and Danish Disciplinary Board on Auditors (DDBA) Denmark Abschlusspruferaufsichtskommission (APAK) Germany Auditing Board of the Central Chamber of Commerce (AB3C) Finland High Council, the Office of the Commissioner of accounts (H3C) France Financial Reporting Council (FRC)

Great Britain Irish Auditing & Accounting Supervisory Authority (IAASA) Ireland Public Auditors Oversight Board (PAOB) Iceland Commissione Nazionale per le società e la Borsa (CONSOB) Italy Certified Public Accountants and Auditing Oversight Board (CPAAOB) Japan Canadian Public Accountability Board (CPAB) Canada Croatian auditing Public Oversight Committee Croatia Ministry of Finance, Department of Tax Administration and Accounting Policy, Audit Oversight Commission Latvia Financial Market Authority Liechtenstein (FMA) Liechtenstein Authority of Audit and Accounting (AAA) Lithuania Commission de Surveillance du Secteur Financier (CSSF) Luxembourg

Ministry of Finance, The Economy & Investment Malta Netherlands Authority For the Financial Markets (AFM) Netherlands Finanstilsynet Norway Qualitatskontrollbehorde für Abschlussprufer und Prufungsgesellschaften (QKB) Austria Audit Oversight Commission (AOC) Poland Conselho Nacional de Supervisão de auditoría (CNSA) Portugal Contabile (CSIPPC) Supervisory Board of Public Accountants Sweden Agency for Public Oversight of Auditing Slovenia úrad pre doh¾ad nad vykonom ears (UDVA) Slovakia Instituto de Contabilidad y auditoría de Cuentas (ICAC) Spain Independent Regulatory Board for Auditors (IRBA) Africa du Sud Audit Public Oversight Council Czech Republic Auditors' Public Oversight Committee Hungary Public Company Accounting Oversight Board (PCAOB) United States introduced by ch. II of O from 1 Jul. 2015, in effect since Oct. 1. 2015 (2015 2439 RO).

State on January 1, 2016

Related Laws