Auditing of directly subordinated financial intermediaries

Audit firms play an important role in the supervision of financial intermediaries which are directly subordinated to FINMA. They assess compliance with the requirements set out in the Anti-Money Laundering Act (AMLA) and the FINMA Anti-Money Laundering Ordinance (AMLO-FINMA), and thus serve to extend FINMA’s reach.
Audit firms are appointed to supervise financial intermediaries directly subordinated to FINMA (DSFIs). They perform an annual comprehensive assessment of each DSFI’s compliance with AMLA requirements. On-site audits are a key monitoring tool.

Standard requirements

Audits are based on the requirements in the Financial Market Auditing Ordinance and FINMA Circular 2013/3 "Auditing". The audit scope is set out in the standard audit strategy. The extent of the audit to be applied each year depends on the frequency and the audit depth in each audit field. Based on the risk assessment, the audit firm can apply a more rigorous audit depth.

Audit firms must submit their reports to FINMA within seven months after the financial year ends. Reporting by audit firms represents an important source of information for FINMA’s supervision in this financial market area.

Audit mandataries

In specific circumstances, and in addition to regulatory auditors, FINMA may also appoint an audit mandatary to clarify particular facts. Audit mandataries may be other authorised audit firms or independent third parties that have the necessary experience and specialist expertise.

Documents

Annexes to Auditing Circular

Guidelines for Auditing Circular

Wegleitung DUFI

Updated: 19.01.2015 Size: 0,15  MB
  • Language(s):
  • DE
  • FR
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DSFI audit under AMLA

GwG-Erhebungsformular für DUFI 2017

Updated: 19.01.2017 Size: 0,4  MB
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Vollständigkeitserklärung DUFI

Updated: 19.01.2017 Size: 0,08  MB
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