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

¹ The Over­sight Au­thor­ity ful­fils its tasks pro­fes­sion­ally in­de­pend­ently.

² It is sub­ject to the ad­min­is­trat­ive su­per­vi­sion of the Fed­er­al Coun­cil. The lat­ter ex­er­cises its su­per­vi­sion primar­ily by:

a.

elect­ing and re­call­ing the mem­bers of the Board of Dir­ect­ors and its chair­wo­man or chair­man;

b.

ap­prov­ing the reas­ons and ter­min­a­tion of the em­ploy­ment re­la­tion­ship with the Chief Ex­ec­ut­ive;

c.

ap­prov­ing the af­fil­i­ation con­tract with PUB­LICA;

d.

ap­prov­ing the an­nu­al re­port;

e.

ap­prov­ing the stra­tegic goals;

f.

an­nu­ally veri­fy­ing the ful­fil­ment of the stra­tegic ob­ject­ives;

g.

grant­ing dis­charge to the Board of Dir­ect­ors.

³ The Over­sight Au­thor­ity reg­u­larly dis­cusses its stra­tegic goals and the ful­fil­ment of its tasks with the Fed­er­al Coun­cil.