Federal Act
on the Licensing and Oversight
of Auditors
(Auditor Oversight Act, AOA)

The Board of Dir­ect­ors has the fol­low­ing tasks:

a.

It is­sues the or­gan­isa­tion­al rules of the Over­sight Au­thor­ity.

b.

It is­sues the stra­tegic goals of the Over­sight Au­thor­ity, sub­mit­ting them to the Fed­er­al Coun­cil for ap­prov­al and re­port­ing on their ful­fil­ment to the Fed­er­al Coun­cil.

c.

It is­sues the or­din­ances del­eg­ated to the Over­sight Au­thor­ity.

d.

It makes or­gan­isa­tion­al ar­range­ments to pre­serve the in­terests of the Over­sight Au­thor­ity and pre­vent­ing con­flicts of in­terests.

e.

It con­cludes the af­fil­i­ation con­tract with the Swiss Fed­er­al Pen­sion Fund (PUB­LICA) and sub­mit­ting it to the Fed­er­al Coun­cil for ap­prov­al.

f.

It reg­u­lates the com­pos­i­tion, the elec­tion pro­ced­ure and the or­gan­isa­tion of the par­ity com­mis­sion for the pen­sion fund.

g.

It de­cides on the reas­ons, modi­fic­a­tion and ter­min­a­tion of the em­ploy­ment re­la­tion­ship with the Chief Ex­ec­ut­ive; the reas­ons and ter­min­a­tion of the em­ploy­ment re­la­tion­ship with the dir­ect­or re­quire the Fed­er­al Coun­cil’s ap­prov­al.

h.

It de­cided on the reas­ons, modi­fic­a­tion and ter­min­a­tion of the em­ploy­ment re­la­tion­ship of the oth­er ex­ec­ut­ive board mem­bers upon re­quest of the Chief Ex­ec­ut­ive.

i.

It su­per­vises the Ex­ec­ut­ive Board.

j.

It provides an in­tern­al con­trol sys­tem and risk man­age­ment ad­ap­ted for the Over­sight Au­thor­ity.

k.

It de­term­ines the ap­pro­pri­ation of re­serves.

1.

It ap­proves the budget.

m.

It drafts and ap­proves an an­nu­al re­port for each fisc­al year; it sub­mits the re­vised an­nu­al re­port to the Fed­er­al Coun­cil for ap­prov­al; sim­ul­tan­eously it re­quests dis­charge from the Fed­er­al Coun­cil and pub­lishes the an­nu­al re­port fol­low­ing ap­prov­al.