Auditor Oversight Act (AOA)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 28 Oversight Authority
1 Oversight in accordance with this Act shall be the responsibility of the Federal Audit Oversight Authority (the Oversight Authority). 2 The Oversight Authority is a public law institution with its own legal personality. It carries out its oversight independently (Article 38). 3 It is independent with regard to its organisation and management and keeps its own accounts. 4 The Oversight Authority is managed in accordance with business management principles. 5 Within the scope of this Act, the Oversight Authority is entitled to file appeals with the Federal Supreme Court.
Para. 2 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857). Para. 4 — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 5 — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857).
Art. 29 Governing Bodies
The governing bodies of the Oversight Authority are: a. the Board of Directors; b. the Executive Board; c. the Auditor.
let. b — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 30 Board of Directors
1 The Board of Directors is the highest supervisory body comprising a maximum of five expert members independent of the audit profession. 2 The members are elected for a term of office of four years. Each member may be re-elected twice. 3 The Federal Council elects the members of the Board of Directors and designates the chairwoman or the chairman. 4 The members of the Board of Directors must fulfil their tasks and duties with due diligence and protect the interests of the Oversight Authority in good faith. 5 The Federal Council may recall a member or several members of the Board of Directors for important reasons. 6 It determines the remuneration of the members of the Board of Directors. Article 6a paragraphs 1-4 of the Federal Personnel Act of 24 March 2000 (FPA) applies to the fee paid to the members of the Board of Directors and the other contractual terms and conditions agreed with these persons.
Art. 30 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857). Para. 6 — SR 172.220.1
Art. 30a Tasks of the Board of Directors
The Board of Directors has the following tasks: a. It issues the organisational rules of the Oversight Authority. b. It issues the strategic goals of the Oversight Authority, submitting them to the Federal Council for approval and reporting on their fulfilment to the Federal Council. c. It issues the ordinances delegated to the Oversight Authority. d. It makes organisational arrangements to preserve the interests of the Oversight Authority and preventing conflicts of interests. e. It concludes the affiliation contract with the Swiss Federal Pension Fund (PUBLICA) and submitting it to the Federal Council for approval. f. It regulates the composition, the election procedure and the organisation of the parity commission for the pension fund. g. It decides on the reasons, modification and termination of the employment relationship with the Chief Executive; the reasons and termination of the employment relationship with the director require the Federal Council’s approval. h. It decided on t
Art. 30a — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857).
Art. 31 Executive Board
1 The Executive Board is the operative body headed by the Chief Executive. 2 In particular, it has the following tasks: a. It manages the business. b. It issues decisions in accordance with the organisational regulations of the Board of Directors. c. It prepares the documentation on which the Board of Directors bases its decisions. d. It reports to the Board of Directors regularly and without delay in the event of special incidents. e. It represents the Oversight Authority externally. f. It decides on establishing, modifying and terminating employment relationships with the employees of the Oversight Authority, Article 30a letters g and h remain reserved. g. It participates in international organisations and bodies, addressing matters of audit oversight. h. It fulfils all tasks not assigned to another body by this Act.
Art. 31 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 32 Auditor
1 The Swiss Federal Audit Office is the external auditor. 2 The provisions of the law on companies limited by shares apply to the auditor and the audit by analogy.
Art. 32 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 33 Staff
1 The Oversight Authority shall employ its staff in accordance with private law. 2 … 3 Article 6a paragraphs 1-4 FPA applies to the salary of the Chief Executive and of the members of the Executive Board and other personnel remunerated in comparable ways and to the other contractual provisions agreed with these persons.
Para. 2 — Repealed by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), with effect from 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 3 — SR 172.220.1 Para. 3 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 33a Pensions Fund
1 The Executive Board and the other personnel are insured with PUBLICA in accordance with Articles 32a-32m FPA. 2 The Oversight Authority is the employer in accordance with Article 32b paragraph 2 FPA.
Art. 33a — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 1 — SR 172.220.1
Art. 34 Official secrecy
1 The bodies of the Oversight Authority and its staff are bound by official secrecy. 2 The duty of secrecy remains after termination of the employment relationship or membership in a body of the Oversight Authority. 3 In hearings and court procedures, the employees and members of the Oversight Authority bodies may not without the authorisation of the Oversight Authority speak about impressions they have formed while fulfilling their tasks and which relate to their official tasks as parties, witnesses or technical experts.
Art. 34 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 34a Reporting duties, reporting rights and protection
1 Employees are required to report all felonies and misdemeanours that are prosecuted ex officio that are related to internal cases and which they observe during their official activities or which have been reported to them, to their superiors, the Board of Directors, the Swiss Federal Audit Office or to the law enforcement agency. 2 The duty to report does not apply to persons who are entitled to refuse to testify or to give evidence under Articles 113 paragraph 1, 168 and 169 of the Criminal Procedure Code. 3 Employees are entitled to report to their superiors, the Board of Directors or the Swiss Federal Audit Office other irregularities which they observe during their internal official activity or which have been reported to them. 4 Persons having filed charges or made a report in good faith must not be disadvantaged in their professional position. 5 The duty to report in relation to external circumstances is based on Article 24 paragraph 3.
Art. 34a — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 2 — SR 312.0
Art. 34b Annual report
1 The annual report includes the activity report (Article 19 paragraph 1), the annual financial statements and the audit report. 2 The annual financial statements consist of the balance sheet, the profit and loss statement and the notes.
Art. 34b — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073; BBl 2013 6857).
Art. 35 Accounting
1 The budget and annual financial statements of the Oversight Authority shall be managed independently of the budget and accounts of the Confederation. 2 For accounting, the provisions on commercial bookkeeping and accounting of the CO apply by analogy. 3 The Oversight Authority shall create the reserves it requires to perform its oversight activities. These shall not exceed the amount of one year’s budget.
Para. 2 — SR 220 Para. 2 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).
Art. 36 Treasury
1 The Oversight Authority shall have a current account with the Confederation and shall invest surplus funds with the Confederation at market interest rates. 2 The Confederation shall grant the Oversight Authority loans at market interest rates for the purposes of its establishment and to ensure its solvency.
Art. 36a Responsibility
1 The Oversight Authority, its bodies, its personnel and third parties engaged by the Oversight Authority are responsible under the Government Liability Act of 14 March 1958 with the reservation of paragraph 2. 2 The Oversight Authority is liable only if: a. it has violated essential official duties; and b. the loss or damage is not attributable to the breach of duty by an auditor, an audit expert or an audit firm. 2bis The mandated audit company in accordance with Article 24 paragraph 1 letter a of the FINMASA and Article 118i CISA is responsible under the provisions of the Stock Company Law (Articles 752-760 CO).
Art. 36a — Inserted by Annex No 3 of the Federal Act of 23 Dec. 2011 (Accounting Law), in force since 1 Jan. 2013 (AS 2012 6679; BBl 2008 1589). Para. 1 — SR 170.32 Para. 2bis — SR 956.1 Para. 2bis — SR 951.31 Para. 2bis — SR 220 Para. 2bis — Inserted by No I of the FA of 20 June 2014 (Bundling of Audit Oversight) (AS 2014 4073; BBl 2013 6857). Amended by Annex No 1 of the FA of 17 Dec. 2021, in force since 1 March 2024 (AS 2024 53; BBl 2020 6885).
Art. 37 Tax exemption
The Oversight Authority is exempt from any taxation by the Confederation, cantons or communes.
Art. 38 Professional independence and oversight
1 The Oversight Authority fulfils its tasks professionally independently. 2 It is subject to the administrative supervision of the Federal Council. The latter exercises its supervision primarily by: a. electing and recalling the members of the Board of Directors and its chairwoman or chairman; b. approving the reasons and termination of the employment relationship with the Chief Executive; c. approving the affiliation contract with PUBLICA; d. approving the annual report; e. approving the strategic goals; f. annually verifying the fulfilment of the strategic objectives; g. granting discharge to the Board of Directors. 3 The Oversight Authority regularly discusses its strategic goals and the fulfilment of its tasks with the Federal Council.
Art. 38 — Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Jan. 2015 (AS 2014 4073, BBl 2013 6857).