Key Benefits:
22 August 2007 (State 1 Er January 2016)
The Federal Council,
Having regard to art. 10, para. 2, 15, para. 2, 21, para. 3, 33, para. 2, 39, para. 1, let. D, and 41 of the Act of 16 December 2005 on the supervision of revision (LSR) 1 , given art. 936 of the Code of Obligations (CO) 2 , given art. 46 A The Law of 21 March 1997 on the Organisation of Government and Administration (LOGA) 3 ,
Stops:
1 Must apply to the Supervisory Authority for approval:
2 The applicant must include in the application evidence of payment of the fee for approval under s. 38.
1 Introduced by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 RS 956.1
3 Introduced by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 The applicant shall transmit the application in electronic form and on paper.
2 The paper application must be signed.
1 The application must contain all the particulars and indicate all the documents certifying that the conditions of the approval are fulfilled.
2 The applicant submits the documents only at the request of the Supervisory Authority.
3 A copy of the original documents is sufficient in principle. The supervisory authority may require the original or a notarized copy, either on paper or in electronic form.
4 The supervisory authority may itself obtain documents with the prior consent of the person or undertaking concerned.
1 In order to be approved, the applicant must have an irreproachable reputation and no other personal circumstances must indicate that he does not offer all the guarantees of an irreproachable revision activity.
2 In particular, consideration should be given to:
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
A degree is defined as a degree from a university or a specialized high school (art. 4, para. 2, let. C, LSR) the one issued at the end of the first study cycle (bachelor studies) comprising 180 credits or the outcome of the second study cycle (master studies) comprising in excess of 90 to 120 credits in accordance with the European transfer system and Accumulation of credits (ECTS).
1 New content according to the c. I of the O of 18 April 2012, in force since 1 Er May 2012 ( RO 2012 1777 ).
The applicant proves that he has the requisite knowledge of Swiss law by producing the certificate of success of a review for which the supervisory authority has recognised the Regulation (Art. 34).
1 New content according to the c. I of the O of 10 Nov 2010, in force since 1 Er Dec. 2010 ( RO 2010 5171 ).
Professional practice is considered to have been acquired under supervision if the applicant has worked formally subordinated, under the orders of a specialist who meets the legal requirements.
1 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A natural person may not independently provide legally prescribed benefits in respect of a review that:
2 A review company with its registered office abroad can only provide revision benefits under Swiss law if it has a branch registered in the Swiss Trade Register. 2
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
2 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A review firm has a management structure that guarantees sufficient supervision of the execution of the various mandates if:
2 Revising undertakings which do not carry out regular checks but restricted controls and in which only one person has the necessary authorisation may, instead of operating a system of internal quality assurance and To supervise adequacy and effectiveness, to affiliate with a system of regular evaluation of their revision activity by professionals of the same rank. 1
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
1 Review undertakings having their headquarters abroad shall be approved as a review undertaking subject to the supervision of the State:
2 Foreign review companies that provide revision benefits under Swiss law to Swiss public interest companies are subject to the supervision of the Swiss authorities.
1 Introduced by ch. I of O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).
1 The recognition of equivalent foreign supervisory authorities may be assessed on the basis of recognition by other States or by international bodies and be subject to the granting of reciprocity.
2 Recognized supervisory authorities within the meaning of s. 8, para. 2, LSR are cited in Appendix 2.
3 For fair reasons, the supervisory authority may cooperate with the recognized foreign supervisory authority, even if the obligation to be licensed under s. 8, para. 2, LSR does not apply to the foreign review company.
1 New content according to the c. I of O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).
1 Review undertakings having their registered office abroad that provide benefits in respect of s. 8, para. 1, let. A, LSR and which are subject to the supervision of a foreign authority recognised by the Federal Council must announce itself to the Swiss Supervisory Authority immediately following the listing of securities to a Swiss stock exchange.
2 The Supervisory Authority shall publish the list of revision undertakings which have been announced, indicating:
3 In the event of revocation of the foreign authorisation, the revision undertaking must announce itself to the Swiss Supervisory Authority. It must have a licence in Switzerland and is deleted from the list according to para. 2.
1 Introduced by ch. I of O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).
1 A review undertaking subject to the supervision of the State shall be deemed to have sufficient insurance coverage against civil liability risks if it has insurance against pecuniary pecuniary damage. The liability risks associated with the review of public interest corporations or whether it has equivalent financial security.
2 The sum insured must be at least, for all claims over a year, to:
3 The following are included as revision fees within the meaning of para. 2 all those contained in the last approved annual accounts of the revision undertaking subject to State supervision in respect of revision benefits provided to public interest companies.
4 L' al. 2, let. C, applies to review undertakings subject to the supervision of the State which do not register any revision fees from public interest companies.
5 The supervisory authority may, in cases of a species, increase the sum insured if it is not in line with the activity of the company or with the resulting risks and the management of those risks.
6 It shall, on a case-by-case basis, decide on financial rights which should be regarded as equivalent within the meaning of para. 1.
7 The revision undertaking subject to the supervision of the State shall be required to communicate without delay to the supervisory authority any modification of the insurance contract. This provision shall apply mutatis mutandis to equivalent financial rights.
1 The supervisory authority shall grant approvals to the review undertakings subject to the supervision of the State and to the auditors responsible for auditing in accordance with the laws on financial markets:
2 The self-regulatory bodies within the meaning of the LBA grant licences to audit companies and responsible auditors who exclusively audit financial intermediaries affiliated with a self-regulatory body.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 New content according to the c. 2 of annex 1 to the O of 25 Nov 2015 on financial market infrastructure, in force since 1 Er Jan 2016 ( RO 2015 5413 ).
3 RS 952.0
4 RS 958.1
5 RS 954.1
6 RS 211.423.4
7 RS 961.01
8 RS 951.31
9 RS 955.0
A revision undertaking is sufficiently organised to carry out audits in accordance with the laws on financial markets (Art. 9 A , para. 1, let. B, LSR) when:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
It is not compatible with accreditation as an audit firm for the purposes of Art. 2, paragraph a, c. 2, LSR, the exercise of an activity subject to authorisation in accordance with the laws on financial markets (Art. 9 A, Al. 1, let. C, LSR) by the following persons:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A responsible auditor has the necessary technical knowledge and experience to conduct an audit of banks, financial market infrastructure, financial groups and takeover bids, dealers in securities Pledge letters (art. 11 A , let. (a) if it can justify: 2
2 A responsible auditor shall continue to have the necessary technical knowledge and experience to carry out an audit in accordance with this Article if he or she can justify:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 New content according to the c. 2 of annex 1 to the O of 25 Nov 2015 on financial market infrastructure, in force since 1 Er Jan 2016 ( RO 2015 5413 ).
1 A responsible auditor has the necessary technical knowledge and experience to conduct an audit of insurance undertakings (art. 11 A , let. (b) if it can justify:
2 A responsible auditor shall continue to have the necessary technical knowledge and experience to carry out an audit in accordance with this Article if he or she can justify:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A responsible auditor has the necessary technical knowledge and experience to conduct an audit of fund directorates, investment funds, SICAV, group investment sponsorship companies, SICAF, managers of Collective and foreign collective investment (s. 11 A , let. (c) if it can justify:
2 A responsible auditor shall continue to have the necessary technical knowledge and experience to carry out an audit in accordance with this Article if he or she can justify:
3 The audit hours of depository banks shall be recorded in the areas of supervision of this Article.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A responsible auditor shall have the necessary technical knowledge and experience to conduct an audit of financial intermediaries directly submitted to FINMA (Art. 11 A , let. D) if it can justify:
2 A responsible auditor shall continue to have the necessary technical knowledge and experience to carry out an audit in accordance with this Article if he or she can justify:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 Continuing education according to art. 11 D To 11 G , including that based on new information technologies and distance courses, must at least meet the following criteria:
2 The effective duration of in-service training seminars shall be taken into account. The activity of lecturer at seminars as well as the professional education provided is double by seminar or teaching.
3 Individual study hours are not taken into account.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 RS 956.161
1 A review company is approved as an audit firm to conduct the audit of financial intermediaries directly subject to FINMA (art. 11 A , let. (d) if:
2 A natural person is certified as the responsible auditor to conduct the audit of financial intermediaries directly subject to FINMA (art. 11 A , let. (d) if:
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A responsible auditor solely responsible for financial intermediaries affiliated with self-regulatory bodies can demonstrate professional experience and audit hours within the meaning of s. 11 G , para. 1, let. A and b, and 2, let. A, which he acquired from these intermediaries.
2 Hours of continuous training shall be carried out in the area of the LBA.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 RS 955.0
1 A responsible auditor has the necessary knowledge of legislation on money laundering, the relevant experience and the necessary training (art. 18, para. 4, let. C, LBA) when it satisfies the conditions laid down in Art. 11 G And 11 J .
2 A person approved for the purpose of auditing money laundering with lawyers and notaries under the LBA may, in derogation from s. 8, para. 1, carry out an independent audit without a registered individual firm registered in the register of commerce.
3 A person approved for the purpose of auditing money-laundering with lawyers and notaries under the LBA shall be independent of the member under review when complying with the requirements of the art. 11 LSR and 728 CO.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 RS 955.0
Provisions on independence (art. 11 LSR and 728 CO) apply to auditing in accordance with financial market laws taking into account the prudential purpose of the audit.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 The applicant may provide review benefits only after approval of the supervisory authority's decision.
2 The approval of a review undertaking subject to the supervision of the State or an expert-revising officer includes the authorisation to provide revision benefits for which the federal law provides for less professional requirements Strict.
2bis The approval of a review firm or a responsible auditor issued in a particular field of supervision does not include the authorization to conduct an audit under s. 24, para. 1, let. A, of the Act of 22 June 2007 on the supervision of financial markets 1 In another monitoring domain. 2
2ter Any licence issued in a field of monitoring under s. 11 A , let. A to c authorised also to verify compliance with the provisions of the BA in the area of supervision concerned 3 . 4
3 Before the approval decision, the names such as "approved revising officer", "approved auditor", "approved responsible auditor", "approved review undertaking" "review undertaking subject to the supervision of the State" or "approved auditing company" shall not Can not be used. 5
1 RS 956.1
2 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
3 RS 955.0
4 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
5 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 Repealed by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, with effect from 1 Er Jan 2015 ( RO 2014 4295 ).
2 Repealed by c. I of O of 1 Er Jul. 2015, with effect from 1 Er Oct. 2015 ( RO 2015 2439 ).
Natural persons and enterprises which, according to their registration in the register of trade, their activity or advertising, could be subject to the LSR are required to provide on request to the supervisory authority all documents and The information it needs to examine whether their activity requires a licence.
Where the supervisory authority withdraws the authorisation to a natural person or a company for a fixed or indefinite period, it shall inform the competent offices of the trade register, where appropriate, of the award and the authorities of Monitoring which, according to the register of the revisers, has approved it under a special law.
1 Repealed by c. 5 of the appendix to the O of 15 Oct. 2008 on financial market audits, with effect from 1 Er Jan 2009 ( RO 2008 5363 ).
1 The register shall be kept in electronic form.
2 The content may at any time be read in electronic form and be printed.
3 The data is searchable using search criteria.
1 Entries in the Register are public and accessible free of charge on the Internet.
2 Upon request, the supervisory authority shall certify in writing that a natural person or undertaking is registered and registered. She sees this as a 50-franc fee.
3 The application for approval, the correspondence relating to the approval, the attached documents and the approval decision are not public.
The registration of an approved natural person includes the following:
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
The registration of a review firm includes the following:
1 New content according to the c. 2 of the Annex to the O of 26 January 2011 on the Business Identification Number, in force since 1 Er April 2011 ( RO 2011 533 ).
2 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
3 Introduced by c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
4 Introduced by c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
5 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
6 Introduced by c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
7 Repealed by c. I of O of 1 Er Jul. 2015, with effect from 1 Er Oct. 2015 ( RO 2015 2439 ).
1 Other Swiss supervisory authorities within the meaning of Art. 22 LSR relies on the approvals of the supervisory authority to determine and assess the conditions of approval under special legislation. They shall withdraw their authorisation if the supervisory authority withdraws its authorisation.
2 The other Swiss supervisory authorities shall proceed directly by electronic means of registration, modification and cancellation of approvals resulting from special laws granted to persons or undertakings in the register of The Supervisory Authority. The supervisory authority regulates the details of this access in an order.
3 The other Swiss supervisory authorities and the supervisory authority shall communicate any withdrawal of authorisation for a fixed or indefinite period or any other amendment of approval.
1 New content according to the c. 1 of the annex to the O of 18 Nov 2015 on the supervision of health insurance, in force since 1 Er Jan 2016 ( RO 2015 5165 ).
1 Two review companies may request the supervisory authority to transfer the approval of one review company to the other.
2 The Supervisory Authority shall transfer the approval:
3 The transfer of the authorisation granted to a natural person is excluded.
1 Introduced by ch. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
The supervisory authority shall cancel the entry in the register where:
1 Introduced by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 The supervisory authority shall automatically initiate the procedure for the correction of the register if it does not correspond, or more so, to the facts or legal requirements and to the persons or the revision undertakings which are required to communicate (art. 15, para. 3, LSR) do not or do not themselves require rectification.
2 For this purpose, it shall sum up the persons or undertakings of revision required to make the correction, to ensure the correction of the register within 30 days or to prove that no rectification is necessary.
3 Where the Supervisory Authority cannot contact the persons or revision undertakings required to request the correction, it shall publish the summons in the Federal Worksheet.
4 Where the persons or the review undertakings do not themselves make the correction, the supervisory authority shall order it by way of decision.
1 Introduced by ch. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
1 The supervisory authority shall keep the parts for each person and each undertaking separately and in chronological order.
2 Parts relating to a person or business are kept for 20 years from the last deposit. Parts may be destroyed ten years after cancellation in the register of the person or company to which they relate. This rule does not apply to the write-offs of undertakings as a result of a merger, division or other restructuring.
3 At the expiry of the retention period, the exhibits are proposed for archival purposes at the Federal Archives. Parts that are not classified as having archival value are destroyed.
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
1 The supervisory authority may seize and retain the parts in electronic form.
2 Once the parts are entered and stored in electronic form, their paper support may be destroyed. The original documents are returned to the sender.
1 The electronic systems used for the maintenance of the register and for the preservation of parts shall meet the following requirements:
2 The supervisory authority regulates the right of access to data and the electronic system in an order.
3 It shall issue an operating regulation concerning:
1 The supervisory authority and other Swiss supervisory authorities may provide each other with electronic access to applications for approval, attached documents and other documents. 1
2 The supervisory authority may refuse the furnishing of coins if:
1 New content according to the c. 1 of the annex to the O of 18 Nov 2015 on the supervision of health insurance, in force since 1 Er Jan 2016 ( RO 2015 5165 ).
The Supervisory Authority may collaborate and exchange data with the Trade Register authorities with a view to the application of the provisions of the CO and the LSR and their implementing provisions.
1 Repealed by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, with effect from 1 Er Jan 2015 ( RO 2014 4295 ).
1 For each revision benefit, the revision undertaking subject to State supervision shall designate a responsible person (person responsible for the revision).
2 A person who directs the review may only be designated as a person who works according to his or her instructions and who is familiar with the organization, work processes and method of review.
3 The person directing the revision shall sign the report or the certificate of revision.
4 The reviewing company shall, without delay, communicate to the supervisory authority any change in the person directing the review and the reasons for the change.
1 The review undertaking submitted to the monitoring of the State shall draw up a report for the supervisory authority each year on compliance with the monitoring legislation for the financial year ending 30 June (report on Monitoring). The report must be submitted by 30 September at the latest.
2 The review undertaking subject to State supervision shall not submit a report if it has been approved during the current calendar year or if it is controlled by the supervisory authority during that calendar year.
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
The reviewing undertaking subject to State supervision shall provide the supervisory authority with the updated documents attached to its application for approval at the same time as the report referred to in Art. 30.
1 The supervisory authority may spread over time and according to the subject matter the supervision of review undertakings subject to the supervision of the State.
2 It sets out the form and purpose of the control and determines the way in which it is carried out.
3 It may carry out the monitoring jointly with the other Swiss supervisory authorities. 1
1 New content according to the c. 1 of the annex to the O of 18 Nov 2015 on the supervision of health insurance, in force since 1 Er Jan 2016 ( RO 2015 5165 ).
1 Where the review undertaking has voluntarily submitted to the State supervision, the supervisory authority controls the review benefits provided to undertakings which are not public interest companies (Art. 2, let. C, c. 1, LSR).
2 Revision undertakings which intend to carry out audits in accordance with the laws on financial markets may not voluntarily submit to the supervision of the State when they fulfil the condition of art. 11 B , let. B.
1 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 The supervisory authority shall recognise a review regulation where:
2 It may make other provisions, in particular concerning the content of the examination regulation.
3 It may itself establish a review regulation and hold examination sessions.
1 New content according to the c. I of the O of 10 Nov 2010, in force since 1 Er Dec. 2010 ( RO 2010 5171 ).
2 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
1 The Director and staff of the supervisory authority shall be independent of the review sector.
1 Repealed by c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, with effect from 1 Er Jan 2015 ( RO 2014 4295 ).
1 The Administrative Board shall settle the composition, the election procedure and the organisation of the Joint Supervisory Body of the Supervisory Authority. In the case of a common provident fund, employers shall jointly lay down the regulatory provisions.
2 Only members of the joint body of the competent and qualified persons may be elected for the exercise of their management task. Gender and official languages must be represented fairly to the extent possible.
3 The compensation paid to the members of the joint body shall be fixed by the Board of the Fund PUBLICA.
1 The Supervisory Authority shall collect emoluments for its decisions, controls and benefits.
2 The General Order of 8 September 2004 on emoluments 1 Is applicable unless specifically provided for in this order.
1 The Supervisory Authority shall collect a fee from the applicant for the following benefits:
2 The fee rises, by approval, to: 2
3 The fee payable for the initial authorisation of an individual undertaking in which the head of the undertaking is alone in providing revision benefits is offset by the fee paid for the examination of his own application for approval. In the event of the renewal of the authorisation of individual undertakings, the fee payable by a natural person shall be collected.
4 A double fee is levied for benefits of extraordinary magnitude. Disbursements are then billed separately.
5 The fee for review undertakings subject to State supervision 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.
6 Where a review undertaking subject to State supervision simultaneously files several applications for approval, the fees shall be calculated on the basis of the time spent. 3
7 Where a review undertaking subject to State supervision only carries out the audit of financial intermediaries directly subject to FINMA (Art. 11 A, Let. D), the fees payable rise to 1500 francs. 4
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
2 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
3 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
4 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
1 A fee calculated according to the time spent is collected for the control of a revision undertaking subject to State supervision.
2 It is between 1000 and 2500 francs per day and per person for the staff of the supervisory authority, depending on the degree of specialization required. For third parties, it is determined in accordance with the usual market rates.
1 A fee based on time spent is collected for other decisions and benefits. The hourly rate is 250 francs.
1 Repealed by c. I of the O of 14 Nov 2012, with effect from 1 Er Dec. 2012 ( RO 2012 6071 ).
The Federal Department of Justice and Police can adapt the tariff of emoluments to higher prices.
1 The supervisory authority collects annually from review undertakings subject to the supervision of the State a monitoring fee to finance costs not covered by the fees.
2 The monitoring fee of a revision undertaking subject to State supervision shall be calculated on the basis of the revision fees it has received in relation to all the revision fees collected by all enterprises The review is subject to state supervision. However, this fee is at least 10 000 francs.
2bis The fee shall be at least 2,500 francs for review undertakings subject to State supervision which audit only financial intermediaries directly subject to FINMA (Art. 11 A, Let. (d). 1
3 The following are the determinants of revision fees within the meaning of s. 11, para. 3.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
The monitoring fee is payable for the duration of the licence.
1 During the year, the supervisory authority charges the revision undertaking liable to pay the fee a deposit determined on the basis of its own budget.
2 It shall draw up the final statement in the first quarter of the following year on the basis of its annual accounts. The difference between the deposit paid and the final count is charged on the deposit of the following year.
3 The payment period is 30 days.
4 In the event of a dispute, the review undertaking may require a decision subject to appeal.
1 A fine of up to 100 000 francs is imposed on anyone who intentionally: 1
2 If the author acts by negligence, the fine is not more than 50 000 francs. 4
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
2 New content according to the c. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
3 New content according to the c. II 1 of annex 2 to the O of 11 November 2015 on money laundering, in force since 1 Er Jan 2016 ( RO 2015 4819 ).
4 Introduced by ch. I of the O of 14 Nov 2012, with effect from 1 Er Dec. 2012 ( RO 2012 6071 ).
The repeal and amendment of the existing law are set out in the Annex.
1 A person who applies for registration with proof of payment of the fee under s. 38 within four months of the entry into force of the LSR, it receives an interim approval to provide review benefits. The provisional character of the authorisation is indicated in the register of auditors.
2 The application is rejected if it is clear that the conditions of approval are not met.
3 The revision undertaking and the natural persons participating in or employed by it must submit their request in a coordinated manner.
4 The applicant receives electronic confirmation of the interim approval. The award shall be informed by electronic means of all provisional approvals of revision undertakings subject to the supervision of the State.
5 The supervisory authority shall determine to the natural persons and undertakings approved on an interim basis an appropriate time limit for the transmission of the required documents. At the same time, they pointed out that provisional approval would be withdrawn if the required documents were not transmitted to it within that time limit. Upon written request, the Commission may extend the time limit in an appropriate manner for just cause.
6 If the period prescribed in para. 5 is not complied with, it withdraws the provisional licence. It shall inform, in writing, the supervisory authorities concerned under special laws and, where appropriate, the stock exchange and adapt the register. In this case, the application for authorisation may be renewed in accordance with the ordinary procedure.
7 The revision benefits provided under interim authorisation shall remain valid even if the individual or undertaking is not subsequently approved.
1 Any person who, within four months after the entry into force of the LSR, files an application for registration and holds a foreign diploma which is equivalent to a Swiss training course (Art. 4, para. 2, let. D, LSR), is provisionally authorised to provide benefits in the field of revision, provided that they undergo training and obtain a diploma proving that they have the required knowledge of Swiss law. Provisional accreditation is withdrawn if the final diploma of this training is not obtained by August 31, 2008.
2 The persons referred to in para. 1 are not required to undergo training or to obtain a diploma proving that they have the requisite knowledge of Swiss law if, during the three years preceding the application for registration, they have worked predominantly for a business of Review having its registered office in Switzerland and whether they have provided mainly revision services under Swiss law.
1 Revision undertakings which carry out regular inspections must have, as from 15 December 2013, an internal quality assurance system for which they supervise adequacy and efficiency (Art. 9, para. 1).
2 Revision undertakings which do not carry out regular checks but restricted controls, in which only one person has the necessary authorisation and who do not have a quality assurance system, must be From 1 Er September 2016, to a system of regular evaluation conducted by professionals of the same rank (art. 9, para. 2).
1 New content according to the c. I of the O of 14 Nov 2012, in force since 1 Er Dec. 2012 ( RO 2012 6071 ).
1 Natural persons may be authorised in accordance with Art. 43, para. 6, LSR as an expert reviewers or as reviewers if they prove:
2 It is not necessary for them to attest to professional practice acquired under supervision.
1 [RO 1992 1210]
The seven-year time limit for the rotation of the persons conducting the review (s. 730 A , para. 2, CO) begins to run as soon as the amendment of the Code of Obligations of 16 December 2005 enters into force 1 Once this last entry into force, the person conducting the review can review only seven accounting years.
1 Audit companies which audit exclusively financial intermediaries affiliated with a self-regulatory body within the meaning of the LBA 2 (art. 11 A , para. 2) must satisfy the condition of s. 11 B , let. A, two years after the entry into force of this amendment.
2 The responsible auditors who are approved by FINMA or active within a self-regulatory body within the meaning of the BA on the day of entry into force of this amendment must meet the requirements of professional experience provided for in this Regulation. Art. 11 D , para. 2, let. A, 11 E , para. 2, let. A, 11 F , para. 2, let. A, 11 G , para. 2, let., and 11 J , two years after the entry into force of this amendment.
3 Applications for the approval of audit companies and responsible auditors who have not yet been the subject of a decision by FINMA at the time of entry into force of this amendment shall be dealt with by the Supervisory Authority in accordance with the New right.
1 Introduced by ch. 1 of the annex to the O of 5 Nov 2014 on financial market audits, in force since 1 Er Jan 2015 ( RO 2014 4295 ).
2 RS 955.0
Review undertakings that provide benefits in relation to s. 8, para. 1, let. A, LSR, whose shares are listed on a Swiss stock exchange at the time of entry into force of the amendment of 1 Er July 2015 and to which the obligation to obtain an authorisation does not apply, must be announced no later than three months after the entry into force of the modification of 1 Er July 2015 with the supervisory authority.
1 Introduced by ch. I of O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).
1 This order shall enter into force on 1 Er September 2007 subject to paras. 2 to 4.
2 Art. 10, para. 1, enter into force on 1 Er October 2015. Art. 13, para. 2, and 20, let. J, in the contents of 22 August 2007 1 Does not enter into force. 2
3 Art. 21 comes into force on 1 Er September 2009.
4 The Chs. II/7, II/8 and II/9 of the Annex shall enter into force on 1 Er January 2008.
1 RO 2007 3989
2 New content according to the c. I of O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).
(art. 10, para. 2)
House of Referral and Rehabilitation (CRME/KVI) |
Belgium |
Commission for Public Oversight of Statutory Auditors (CPOSA) |
Bulgaria |
Danish Business Authority (DBA), Danish Supervisory Authority on Audit (DSAA) and Danish Disciplinary Board on Auditors (DDBA) |
Denmark |
Abschlussprüferaufsichtskommission (APAK) |
Germany |
Auditing Board of the Central Chamber of Commerce (AB3C) |
Finland |
Office of the High Commissioner for External Affairs (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 Audit Public Oversight Committee |
Croatia |
Ministry of Finance, Department of Taxes Administration and Accounting Policy, Audit Oversight Commission |
Latvia |
Financial Market Authority Liechtenstein (FMA) |
Liechtenstein |
Authority of Audit and Accounting (AAA) |
Lithuania |
Financial Sector Monitoring Committee (CSSF) |
Luxembourg |
Ministry of Finance, The Economy & Investment |
Malta |
Netherlands Authority For the Financial Markets (AFM) |
Netherlands |
Finanstilsynet |
Norway |
Qualitätskontrollbehörde für Abschlussprüfer und Prüfungsgesellschaften (QKB) |
Austria |
Audit Oversight Commission (AOC) |
Poland |
Conselho Nacional de Supervisao de Auditoria (CNSA) |
Portugal |
Contabile (CSIPPC) |
|
Supervisory Board of Public Accountants |
Sweden |
Agency for Public Oversight of Auditing |
Slovenia |
Úrad pre dohant ad nad výkonom auditu (UDVA) |
Slovakia |
Instituto de Contabilidad y Auditoria de Cuentas (ICAC) |
Spain |
Independent Regulatory Board for Auditors (IRBA) |
South Africa |
Audit Public Oversight Council |
Czech Republic |
Auditors' Public Oversight Committee |
Hungary |
Public Company Accounting Oversight Board (PCAOB) |
United States |
1 Introduced by c. II of the O of 1 Er Jul. 2015, in force since 1 Er Oct. 2015 ( RO 2015 2439 ).