In addition to the general statutory provisions on the independence of auditors (Article 728 CO1), audit firms under state oversight must observe the following principles when providing audit services to public interest entities:
The annual fees arising from auditing and other services provided for a single company and the companies affiliated to it as a result of unified management (group) must not exceed 10 percent of the audit firm’s total fees.
If persons who held a decision-making or senior accounting position at a company transfer to an audit firm and take up a senior position there, this audit firm may not provide any audit services to the company concerned for two years from the time of the transfer.
If persons who have been involved in the accounting at a company transfer to an audit firm, they may not take charge of any audit services for this company for two years from the time of the transfer.
A public interest entity may not employ any persons who have been in charge of audit services for this company or have held a decision-making position at the audit firm concerned over the two preceding years.