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. 41 Execution
The Federal Council shall issue the implementing provisions. It may authorise the Oversight Authority to issue additional implementing provisions.
Art. 42 Amendment of current legislation
The amendment of current legislation is regulated in the Annex.
Art. 43 Transitional provisions
1 If an individual or an audit firm carries out the tasks of auditors, the provisions of this Act apply as soon as the new provisions on auditors of 16 December 2005 become applicable to the legal entity to be audited. 2 If individuals or audit firms provide other audit services, the new law shall apply from the moment this Act comes into force. 3 Individuals and audit firms that submit an application to be licensed as an auditor, audit expert or audit firm under state oversight to the Oversight Authority within four months following the commencement of this Act may provide audit services in the sense of Article 2 letter a until the decision on the licence is taken. The Oversight Authority shall confirm timely receipt of the application to the applicant in writing. It shall notify the stock exchange of applications that are submitted for licensing as an audit firm under state oversight. 4 Professional experience that has been acquired up to two years following the commencement of this
Para. 4 — [AS 1992 1210]
Art. 43a Transitional provisions to the amendment of 20 June 2014
1 Auditing services the conduct of which requires a licence from the Oversight Authority under the new law may be performed up to one year after the commencement of the amendment of 20 June 2014 with the FINMA licence under former law. 2 The Oversight Authority takes over all proceedings from FINMA which were initiated against audit companies performing audits under the financial market acts (Article 1 paragraph 1 FINMASA) as well as against lead auditors of such audits and which by the enactment of the amendment of 20 June 2014 have not yet been legally decided.
Art. 43a — 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 956.1
Art. 43b Transitional provisions to the amendment of 30 September 2016
The following applies to audit firms that provide audit services to the companies described in Article 8 paragraph 1 letter b and that have bonds listed on a Swiss stock exchange on the date on which the amendment of 30 September 2016 comes into force: a. Any audit firm not exempted from the licensing obligation must be licensed as an audit firm under state oversight at the latest within six months of the amendment of 30 September 2016 coming into force. b. Any audit firm exempted from the licensing obligation must register with the Oversight Authority or ensure that investors are explicitly informed that the audit firm is not under state oversight at the latest within six months of the amendment of 30 September 2016 coming into force.
Art. 43b — Inserted by No I of the FA of 30 Sept. 2016 (Extra-territorial Scope of Audit Oversight), in force since 1 Oct. 2017 (AS 2017 4859; BBl 2015 5717).
Art. 44 Transitional provision on rights of appeal
Until the Administrative Court Act of 17 June 2005 comes into force, rights of appeal shall be regulated as follows, supplementing the general provisions on the administration of federal justice: the Appeals Commission of the Federal Department of Economic Affairs shall decide on appeals against decisions of the Oversight Authority.
SR 173.32, in force since 1 Jan. 2007.
Art. 45 Referendum and commencement
1 This Act is subject to an optional referendum. 2 The Federal Council shall determine the commencement date. Commencement date: 1 September 2007Articles 28, 29, 30 paragraphs 1, 2, 3 letter a–c and e and 4, 31, 32, 33 paragraphs 1 and 3, 34, 35 paragraphs 1 and 2, 36, 37 and 38 paragraph 1: 1 November 2006Article 8 paragraph 1 letter a and 2: 1 October 2015Article 8 paragraph 1 letter b and 3: 1 October 2017Article 8 paragraph 1 letters c and d: irrelevant and do not come into force
Para. 2 — O of 22 Aug 2007 (AS 2007 3969). Para. 2 — O of 1 July 2015 (AS 2015 2437). Para. 2 — FA of 30 Sept. 2016 (AS 2017 4859; BBl 2015 5717). Para. 2 — FA of 30 Sept. 2016 (AS 2017 4859; BBl 2015 5717).