Oversight Ordinance FAOA (OO-FAOA)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 7 Subject matter of the inspection
1 The Oversight Authority shall inspect, in particular, whether: a. the licensing documents and the annual report submitted to the Oversight Authority are complete and correct; b. the audit firm under state oversight complies with the provisions and standards relating to independence, internal quality management and the audit services provided. 2 If, during the preceding inspection, measures were agreed on or instructions issued with a view to rectifying a situation, it shall also inspect the implementation of and compliance with these.
Para. 1 let. b — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752).
Art. 8 Scope of the inspection
Compliance with the applicable provisions and standards shall in principle be inspected in a risk-oriented manner.
Art. 9 Advance notice of the inspection
Advance notice of the inspection shall, as a rule, be given to the audit firm. Notice may be dispensed with if it is necessary to do so in view of the purpose of the inspection.
Art. 10 Requirements relating to the audit documentation and the documentation of quality management measures
1 The audit documentation must be sufficiently comprehensive and detailed to allow the Oversight Authority to obtain a precise picture of the audit carried out (Art. 730c OR). 2 Audit documentation shall be understood to mean all records that document the nature, time and scope of the audit procedures performed, as well as their results and the conclusions drawn from them. 3 The documentation on the quality management measures in terms of Article 12 AOA must be sufficiently comprehensive and detailed to allow the Oversight Authority to obtain a precise picture of the measures taken and their implementation. 4 The regulations on documentation in the applicable audit standards also apply.
Art. 10 — Amended by No I of the FAOA O of 10 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4093). Art. 10 — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752). Para. 1 — SR 220 Para. 3 — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752).
Art. 11 Inspection of the monitoring and remediation process
On the basis of the documentation relating to the audit firm’s monitoring and remediation process, the Oversight Authority shall inspect, in particular: a. the procedure employed for the monitoring and remediation process; b. the composition and competence of the teams carrying out the monitoring; c. the criteria used to select the audit services monitored; d. the number of audit services monitored in a financial year; e. the results of monitoring activities.
Art. 11 — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752).
Art. 12 Inspection of the quality of the audit services provided
1 The Oversight Authority shall inspect the quality of the audit services provided on the basis of, in particular, the audit firm’s audit documentation. 2 If the audit firm’s internal monitoring and remediation process is adequate and can be inspected by the Oversight Authority (Art. 11), the Oversight Authority shall take this into account during its inspection.
Para. 1 — Amended by No I of the FAOA O of 10 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4093). Para. 2 — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752).
Art. 13 Inspection report
1 The Oversight Authority shall prepare an inspection report. 2 It shall give the audit firm an opportunity to comment on the draft version of the inspection report. 3 It shall allow the audit firm an appropriate period in which to do so.
Para. 3 — Amended by No I of the FAOA O of 19 Sept. 2025, in force since 15 Dec. 2025 (AS 2025 752).
Art. 14 Cognisance of the inspection report
1 The Oversight Authority shall send the report to the audit firm’s highest supervisory or governing body. 2 Each member of the highest supervisory or governing body must confirm individually in writing that he or she has taken cognisance of the report.
Art. 15 Opening of proceedings
The Oversight Authority may conduct proceedings and issue decisions at any time, in particular relating to: a. the identification of infringements of applicable provisions and standards; b. the rectification of a situation (Art. 16 para. 4 AOA); c. the imposition of sanctions.
Art. 16 Compliance with measures and instructions issued to rectify a situation
1 The audit firm’s highest supervisory or governing body must, at the Oversight Authority’s request, provide details at any time on the status of the implementation of agreed measures or instructions issued to rectify a situation. 2 In order to verify the implementation of and compliance with agreed measures or instructions of the Oversight Authority issued to rectify a situation, the Oversight Authority may conduct a follow-up inspection at any time. The provisions of Section 3 apply by analogy.