Legal basis for auditing

The financial market legislation governing the supervision of audit firms derives from a SFMA ordinance.

• Financial Market Auditing Ordinance (SFMA-PV)
• Aufsichtsprüfverordnung SFMA

Financial Market Auditing Ordinance

This ordinance sets out how audit firms and auditors are to be licensed, how SFMA is to supervise audit firms, how SFMA and the Federal Audit Oversight Authority are to coordinate their activities and how supervised firms are to be audited to comply with SFMA Act.

SFMA Regulatory Auditing Ordinance

The SFMA Regulatory Auditing Ordinance sets out how audit firms must audit supervised firms. It regulates the areas to be audited, the identification of risks, the frequency and depth of the audit, the requirements for the audit report and the audit principles.