(Art. 116 and 117 FinMIA)
- In the case of non-financial counterparties, the auditor shall review whether these counterparties have taken measures, in particular to comply with the derivatives trading duties set out in Article 113 paragraph 1 letters a to e.
- When carrying out its audit, it shall take account of the principles of risk-oriented review and materiality.
- The auditor in accordance with Article 727 of the Swiss Code of Obligations1(CO) shall set out the results of its audit in a comprehensive report for the board of directors in accordance with Article 728b paragraph 1 CO.
- The auditor in accordance with Article 727a CO shall inform the responsible body of the audited company of the results of the audit.
- If the auditor identifies violations of the provisions on derivatives trading, it shall incorporate these into its report in accordance with paragraphs 3 and 4. It shall set a deadline for rectification of the reported violations.
- If the audited company has not executed any derivatives transactions during the audit period and no derivatives transactions are outstanding at the end of this period, the reports required under paragraphs 3 and 4 may be waived.
- The auditor shall report the violations to the FDF if the company does not remedy the violations in accordance with paragraph 5 by the deadline set, or if it repeats these violations.