FINMA Collective Investment Schemes Ordinance
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Chapter 1 Audits
Art. 110 Separation of financial and regulatory audits
(Art. 126 CISA; Art. 24 FINMASA) Audits shall be separated into a financial audit and a regulatory audit.
Art. 110 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Art. 110 — Financial Market Supervision Act of 22 June 2007 (SR 956.1).
Art. 111 Financial audit
(Art. 126 paras. 5 and 6 CISA; Art. 137 CISO) 1 For a financial audit of collective investment schemes, the information is audited in accordance with Articles 89 paragraph 1 letters a–h and 90 CISA. 1bis The audit of the management or management company of the collective investment scheme and compliance with the statutory, contractual and regulatory provisions that do not relate to the annual accounts is a matter for the regulatory audit of the fund management company. 2 The financial audit, general partners of a limited partnership for collective investment and representatives of foreign collective investment schemes is conducted in accordance with Article 728–731a CO. 3 FINMA may allow exceptions for representatives of foreign collective investment schemes.
Art. 111 — SR 951.311 Para. 1bis — Inserted by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para. 2 — SR 220 Para. 2 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327).
Art. 112 Regulatory audit
(Art. 126 paras. 1–3 CISA; Art. 24 FINMASA and 2–8 FMAO) 1 The regulatory audit comprises the examination of the licensee’s compliance with the regulatory provisions applied under Article 13 paragraph 2 letters b–d and h CISA including collective investment schemes. 2 For audit scope is to include the general partner of a limited partnership for collective investment. 3 The regulatory audit in relation to collective investment schemes also examines the prospectus and basic information sheet. 4 ...
Art. 112 — SR 956.1 Art. 112 — Financial Market Auditing Ordinance of 15 Oct. 2008 (SR 956.161). Art. 112 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para. 1 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para. 3 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para.
Chapter 2 Audit Reports
Art. 113 Type of reports
(Art. 126 CISA; Art. 24 FINMASA; Art. 137 CISO; Arts. 9–12 FMAO) The audit company shall produce: a. reports on the regulatory audit of the licensees and the collective investment schemes, as well as the representatives of foreign collective investment schemes not requiring authorisation (regulatory audit); b. audit reports on the annual accounts audit under Article 126 paragraph 5 CISA (financial audit); c. brief reports on the audits of collective investment schemes (financial audit).
Art. 113 — SR 956.1 Art. 113 — SR 951.311 Art. 113 — SR 956.161
Art. 114 Financial audit report
(Art. 126 para. 1–3 CISA; Art. 24 FINMASA and 9–12–FMAO) 1 The audit company shall produce the report on the regulatory audit. 2 In the case of a fund management company, the report also covers the investment funds that it manages. 3 The audit reports for a limited partnership for collective investment also include the general partner. 4 The audit reports for licensees and investment funds are to be shown to the ultimate management and those responsible for supervision and control. The audit reports must be discussed at a meeting of such a governing body, and minutes thereof shall be taken.
Art. 114 — SR 956.1 Art. 114 — SR 956.161 Art. 114 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para. 1 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). Para. 2 — Amended by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327).
Art. 115 Financial audit
(Art. 126 paras. 5 and 6 CISA; Art. 137 CISO) 1 The provisions set out for regular audits under the CO apply mutatis mutandis to financial reports on a financial report. 2 The audit company produces short-form reports on a timely basis prior to the publication of the annual reports. They must be signed by the responsible lead auditor and an authorised signatory of the audit company. 3 Reports must be provided for each of the collective investment schemes with a sub-fund.
Art. 115 — SR 951.311 Para. 1 — SR 220
Art. 116 Short-form report
(Art. 126 paras. 5–6 CISA; Art. 24 FINMASA; Art. 137 CISO; Arts 9–12 FMAO) 1 The brief report expresses an opinion on the adherence to the statutory, contractual and regulatory provisions for the annual accounts, as well as the provisions laid down in the articles of association, and on the audits of the information required by Article 89 paragraph 1 letters a–h CISA, and additionally in the case of real estate funds on those audits pursuant to Article 90 CISA. 2 In relation to a SICAV or SICAF, the short-form report may also include the reports of the statutory audit company pursuant to Article 728 CO. 3 FINMA may declare a standard confirmation of the audit industry organisation to be generally binding.
Art. 116 — SR 956.1 Art. 116 — SR 951.311 Art. 116 — SR 956.161 Para. 2 — SR 220
4a. Titel Form of Submission
(Art. 142 CISO)
Inserted by Annex No 1 of the FINMA O of 4 Nov. 2020 on Financial Institutions, in force since 1 Jan. 2021 (AS 2020 5327). SR 951.311
Art. 116a
1 The documents in accordance with Article 142 paragraph 1 CISO must be submitted in electronic form using the templates provided by FINMA. 2 FINMA may permit exceptions to electronic submission.
Para. 1 — SR 951.311