Swiss Civil Code

¹ The board of trust­ees shall ap­point ex­tern­al aud­it­ors.

² The su­per­vis­ory au­thor­ity may ex­empt a found­a­tion from the duty to ap­point ex­tern­al aud­it­ors. The Fed­er­al Coun­cil de­term­ines the con­di­tions for such ex­emp­tion.

³ Where there are no spe­cial pro­vi­sions for found­a­tions, the pro­vi­sions of the Code of Ob­lig­a­tions¹⁰⁸ on ex­tern­al aud­it­ors for pub­lic lim­ited com­pan­ies ap­ply mu­tatis mutandis.

⁴If the found­a­tion has a duty to carry out a lim­ited audit, the su­per­vis­ory au­thor­ity may re­quire a full audit where ne­ces­sary for a re­li­able as­sess­ment of the found­a­tion’s fin­an­cial situ­ation.