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

¹ The Over­sight Au­thor­ity, its bod­ies, its per­son­nel and third parties en­gaged by the Over­sight Au­thor­ity are re­spons­ible un­der the Gov­ern­ment Li­ab­il­ity Act of 14 March 1958⁷⁷ with the re­ser­va­tion of para­graph 2.

² The Over­sight Au­thor­ity is li­able only if:

a.

it has vi­ol­ated es­sen­tial of­fi­cial du­ties; and

b.

the loss or dam­age is not at­trib­ut­able to the breach of duty by an aud­it­or, an audit ex­pert or an audit firm.

^2bis The man­dated audit com­pany in ac­cord­ance with Art­icle 24 para­graph 1 let­ter a of the FIN­MASA⁷⁸ is re­spons­ible un­der the pro­vi­sions of the Stock Com­pany Law (Art­icles 752-760 CO⁷⁹).⁸⁰