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Swiss federal council recognises French oversight body’s audit inspections

The Swiss Federal Council has announced it recognises audit inspections carried out by the French High Council for Statutory Auditors (H3C), effective 1 October 2015.

Under the new rule passed by the Swiss Federal Council, French auditors of French companies operating on the Swiss capital market will not fall under the oversight of the Swiss Federal Audit Oversight Authority (FAOA).

French auditors will have to make themselves known to the Swiss authority but the FAOA will rely on the audit inspections conducted by the H3C.

This latest development follows a cooperation agreement between H3C and the FAOA singed in 2013.

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