Auditor Oversight Ordinance (AOO)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only, has no legal force and may not be relied on in legal proceedings.
Art. 28
Repealed by Annex No 1 of the Financial Market Auditing Ordinance of 5 Nov. 2014, with effect from 1 Jan. 2015 (AS 2014 4295).
Art. 29 Auditor in charge
1 Audit firms under state oversight must designate a person for each audit service who will assume responsibility (auditor in charge). 2 They may only designate persons as auditors in charge if the firms hold a right to issue instructions to these persons and if the persons in question are familiar with the firm’s organisation, processes and auditing approach. 3 The auditor in charge shall sign the audit report or the attestation. 4 Audit firms shall inform the Oversight Authority without delay of all changes of lead auditors, stating the reasons for the change.
Art. 30 Reporting
1 Audit firms under state oversight must report (oversight report) to the Oversight Authority on their compliance with the provisions of oversight regulations as of 30 June of each year. They must submit this report by 30 September. 2 They are not required to submit an oversight report if they were licensed during the calendar year in question or if they are inspected by the Oversight Authority during the calendar year.
Art. 30 — Amended by No I of the O of 14 Nov. 2012, in force since 1 Dec. 2012 (AS 2012 6071).
Art. 31 Updated licensing documents
The audit firm under state oversight must submit the updated licensing documents together with the report in accordance with Article 30.
Art. 32 Inspection procedure
1 The Oversight Authority may stagger the inspection of audit firms under state oversight in terms of the timing of the inspections and the subject matter covered. 2 It shall determine the form and subject of the inspection and decide on the procedure to be employed. 3 It may perform the inspection together with oversight authorities in accordance with specific legislation.
Para. 3 — Amended by Annex No 1 of the Health Insurance Oversight Ordinance of 18 Nov. 2015, in force since 1 Jan. 2016 (AS 2015 5165).
Art. 33 Inspection of audit firms voluntarily under oversight
1 In the case of audit firms that have subjected themselves voluntarily to oversight, the Oversight Authority inspects auditing services for companies which are not public interest entities within the meaning of Article 2 letter c number 1 AOA. 2 Audit firms that wish to perform audits under the financial market acts are no longer entitled to subject themselves voluntarily to oversight if they meet the requirement in Article 11b letter b.
Art. 33 — Amended by Annex No 1 of the Financial Market Auditing Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).