Commentaries: Art. 26

In order to enforce this Act, the Oversight Authority may ask foreign audit oversight authorities for information and documents.
It may transfer information and documents that are not publicly accessible to foreign audit oversight authorities, provided that these authorities:
1. only use the information supplied for the direct oversight of individuals and firms providing audit services;
2. ¹ are bound by official or professional secrecy, notwithstanding provisions on the public nature of proceedings and the notification of the general public about such proceedings;
3. pass on the information to authorities and bodies that perform oversight tasks in the public interest and are bound by official and professional secrecy only if this is done on the basis of authorisation conferred by a treaty or with the Oversight Authority’s prior consent.
The Oversight Authority shall refuse to give its consent if the information is to be passed on to criminal prosecution authorities or authorities and bodies with powers to impose sanctions under administrative law and, due to the nature of the offence, mutual legal assistance in criminal matters would be excluded. The Oversight Authority shall reach its decision in agreement with the Federal Office of Justice.
Within the context of paragraph 2, the Federal Council shall be authorised to regulate the cooperation with foreign audit oversight authorities in treaties.

Amended 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). ↩

Art. 26