Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 62 para. 1 Fin­IA)

Where the su­per­vis­ory or­gan­isa­tion does not it­self con­duct the audit of su­per­vised en­tit­ies, it will en­sure that:

a.

the ap­poin­ted audit firm is cor­rectly man­dated and au­thor­ised in ac­cord­ance with Art­icle 43k FIN­MASA⁴⁵;

b.

the ap­poin­ted audit firm im­ple­ments the guidelines provided by FINMA;

c.

the areas audited and the cor­res­pond­ing depths of audit of risk as­sess­ments are com­men­sur­ate with its su­per­vi­sion concept; and

d.

it is in­formed im­me­di­ately of any ir­reg­u­lar­it­ies.