¹ This Order applies to:

A. ¹

Review undertakings that provide review benefits to public interest corporations and are subject to oversight by the federal review supervisory authority (supervisory authority);

B.

Review undertakings which have voluntarily submitted to the supervision of the supervisory authority.

² It rules:

A.

The revision standards to which the review companies must comply when providing revision benefits;

B.

The monitoring procedure applied by the supervisory authority to review undertakings subject to state supervision (inspections).

Annual accounts and consolidated accounts based on the code of obligations (CO) ¹ Or according to the Swiss accounting standards published by the Foundation for Swiss GAAP are to be revised according to the revision standards of the Swiss Board of Trustees which have been recognized By the supervisory authority (Swiss auditing standards, NAS).

¹ The annual accounts and consolidated accounts established according to the foreign accounting standards shall be revised according to the standards of review of the International Auditing and Assurance Standards Board (IAASB), which have been recognized by the Monitoring.

² The supervisory authority may recognize other revision standards as equivalent.

³ The annual accounts and consolidated accounts which a company located in Switzerland has established according to foreign accounting standards and which have been revised according to foreign revision standards must also be revised according to the revision standards Swiss.

¹ All revision benefits provided by companies in Switzerland under legal provisions and whose object is not the revision of annual accounts or consolidated accounts (special revisions) must be verified according to the standards Of Swiss revision.

² All revision benefits provided by companies abroad under legal provisions and whose object is not the revision of annual accounts or consolidated accounts (special revisions) must be verified by analogy According to the foreign revision standards referred to in s. 3, para. 1 and 2.

¹ Revision undertakings which revise annual accounts or consolidated accounts according to the Swiss revision standards shall guarantee the quality of their services in accordance with the provisions of the Swiss Quality Control Standard 1 (NCQ 1).

² Review undertakings that review annual accounts or consolidated accounts according to IAASB revision standards must ensure the quality of their benefits in accordance with the NCQ 1 and in accordance with the International Standards on Quality Control 1 (ISQC 1).

The supervisory authority shall publish a list of recognised revision standards.

Art. 6 A ¹ Auditing standards for auditing in accordance with financial market laws

¹ The supervisory authority shall check in particular whether:

A.

The documents attached to the application for approval and the annual report given to the supervisory authority are complete and correct;

B.

The revision undertaking subject to the supervision of the State shall comply with the provisions and standards applicable to independence, internal quality assurance and quality assurance as regards the revision benefits provided;

² To the extent that measures have been agreed or directives to regularize the situation have been given in the previous monitoring, the supervisory authority checks their compliance and implementation.

The supervisory authority shall, in principle, verify compliance with the provisions and standards applicable to risks.

Control is usually advertised to the reviewing company. It may be unannounced if its purpose so requires.

¹ The audit documentation must be sufficiently complete and detailed so that the supervisory authority can arrive at an overall view of the checks carried out (Art. 730 C CO ² ).

² Audit documentation refers to all records documenting the nature, extent and timing of the review operations conducted, as well as the results of those transactions and the conclusions reached.

³ Documentation of quality assurance measures within the meaning of s. 12 LSR ³ Must be sufficiently complete and detailed so that the supervisory authority can reach an overall view of the checks carried out and their implementation.

⁴ In addition, the documentation must comply with the provisions of the current revision standards.

Based on the documentation of subsequent controls carried out by the reviewing company, the supervisory authority checks in particular:

A.

The procedure for subsequent controls;

B.

The composition and qualification of the team performing the subsequent control;

C.

The criteria for the selection of controlled review benefits;

D.

The number of revision benefits monitored during an accounting period;

E.

The results of subsequent controls.

¹ The supervisory authority shall verify the quality of the revision benefits by referring in particular to the audit documentation of the revision undertaking. ¹

² If the internal controls of the revision undertaking are appropriate and verifiable by the supervisory authority (Art. 11), this is taken into account in its audit.

¹ The supervisory authority shall draw up a monitoring report.

² It gives the revision undertaking the opportunity to take a decision on the draft monitoring report.

³ For that purpose, it shall give it an appropriate period of 30 days in general.

¹ The supervisory authority shall send the inspection report to the senior management or administrative body of the revision undertaking.

² The members of the senior management or administrative body shall individually confirm in writing that they have taken note of the inspection report.

The supervisory authority may at any time initiate proceedings and rule by decision in particular on:

A.

Recognition of breaches of legal provisions and standards;

B.

Regularisation of the situation (art. 16, para. 4, LSR ¹ );

C.

The application of sanctions.

¹ The senior management or administrative body of the review undertaking must be able at all times to inform the supervisory authority, at its request, of the implementation of the agreed measures and of the directives given for regularisation The situation.

² The supervisory authority may at any time carry out a follow-up inspection to verify that the agreed measures and the directives given to regularise the situation are effectively complied with and implemented. The provisions of Section 3 shall apply mutatis mutandis.

This order shall enter into force on 1 ^Er April 2008.