955.01AMLOFederal Council OrdinanceJan 1, 2016Original source
An audit firm is adequately organised if it:
has at least two lead auditors who are licensed for AMLA-related activities;
has at least two audit mandates related to the AMLA no later than three years after being granted a licence;
complies with the regulations on documentation and retention of records pursuant to Article 730c CO1, irrespective of its legal form.
An audit firm shall not be licensed for audits in accordance with Article 24a AMLA where the following persons or entities carry on an activity for which a licence is required under the financial market legislation in accordance with Article 1 paragraph 1 of the Financial Market Supervision Act of 22 June 20072:
companies that are under common management with the audit firm;
natural persons who directly or indirectly hold at least 10 per cent of the capital or voting rights in a company in accordance with letter a or who can significantly influence its business activities in another way;
the lead auditors.
An audit firm is adequately insured for liability risks if it has financial loss insurance or equivalent financial security to cover its liability arising from audits under Article 24a AMLA. The sum insured available for all claims in one year must be at least 250,000 francs.