Commentaries: Art. 8

A licence as an audit firm under state oversight is also required for audit firms providing auditing services as defined in Article 2 letter a number 1 or comparable services under foreign law for:¹
1. companies incorporated under foreign law whose shares are listed on a Swiss stock exchange;
2. ² companies incorporated under foreign law whose bonds are listed on a Swiss stock exchange;
3. and d.³ .
The licensing obligation does not apply if the audit firm is subject to the oversight of a foreign audit oversight authority that is recognised by the Federal Council.
Moreover, the licensing obligation does not apply to audit firms providing audit services to a company under paragraph 1 letter b if:
1. the relevant bonds are guaranteed by company that has an audit firm meeting the criteria in either paragraph 1 or 2; or
2. investors have been explicitly informed that the audit firm is not under state oversight.⁴
Audit firms to which the licensing obligation does not apply in accordance with paragraph 2 are required to register with the Oversight Authority. The Federal Council shall stipulate the relevant requirements.⁵
The Oversight Authority shall lay down rules governing the disclosure of audit firms that are not subject to state oversight.⁶

Amended by No I of the FA of 20 June 2014 (Bundling of Audit Oversight), in force since 1 Oct. 2015 (AS 2014 4073, 2015 2437;BBl 2013 6857). ↩
Amended by No I of the FA of 30 Sept. 2016 (Extra-territorial Scope of Audit Oversight), in force since 1 Oct. 2017 (AS 2017 4859;BBl 2015 5717). ↩
Never came into force / irrelevant. ↩
Amended by No I of the FA of 30 Sept. 2016 (Extra-territorial Scope of Audit Oversight), in force since 1 Oct. 2017 (AS 2017 4859;BBl 2015 5717). ↩
Inserted by No I of the FA of 30 Sept. 2016 (Extra-territorial Scope of Audit Oversight), in force since 1 Oct. 2017 (AS 2017 4859;BBl 2015 5717). ↩
Inserted by No I of the FA of 30 Sept. 2016 (Extra-territorial Scope of Audit Oversight), in force since 1 Oct. 2017 (AS 2017 4859;BBl 2015 5717). ↩

Art. 8