Commentaries: Art. 10b

The applicant may only provide audit services once the Oversight Authority has taken the decision to grant the licence.
The licence to operate as an audit firm under state oversight and as an audit expert shall at the same time cover the licence to provide audit services, for which federal law prescribes less stringent professional requirements.
The licence of an audit firm or a lead auditor for regulatory audit which has been granted for a specific oversight area does not cover auditing under Article 24 paragraph 1 letter a of the Financial Market Auditing Act of 22 June 2007¹in another oversight area.²
The licence granted for auditing in an oversight area in accordance with Article 11a paragraph 1 letters a–c also covers auditing compliance with the provisions of the Anti-Money Laundering Act of 10 October 1997³and the Federal Act on Financial Services of 15 June 2018⁴in the oversight area concerned.⁵
Before the decision to grant the licence is taken, titles such as «licensed auditor», «licensed audit expert», «licensed lead auditor for regulatory audits», «licensed audit firm», «audit firm under state oversight» or «licensed audit company for regulatory audits» may not be used.⁶

SR 956.1 ↩
Inserted by Annex No 1 of the Financial Market Auditing Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295). ↩
SR 955.0 ↩
SR 950.1 ↩
Inserted by Annex No 1 of the Financial Market Auditing Ordinance of 5 Nov. 2014 (AS 2014 4295). Amended by Annex 1 No II 1 of the Financial Institutions Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4633). ↩
Amended by Annex No 1 of the Financial Market Auditing Ordinance of 5 Nov. 2014 (AS 2014 4295). ↩

Art. 10b