OSIF’s supervisory model is based on the audit of Financial Institutions by external auditors, to be chosen from a list of OSIF-approved auditors.
The choice of an approved auditor is one of the conditions of the application for financial institutions to be subject to OSIF, which is a prerequisite for the licence to practice granted by FINMA.
The conditions for the approval of auditors have been established by OSIF in accordance with the instructions of FINMA, taking into account the various applicable laws, RAG, LSFIN, LEFIN, LFINMA, MLA, OOS.
Three audit reports will be due in the future, LBA, LEFIN, and LSFIN, according to models defined by FINMA.
As a certified auditor active in the financial services sector, you are in a position to meet these requirements.
Many of you are already active in the field of MLA auditing, which will remain one of the elements of the prudential audit to which financial institutions are now subject.
Auditing companies and the responsible auditors will be required to pay an annual supervisory fee from the year 2022.(tariff of OSIF’s fees and charges for auditors).
We encourage the submission of applications for approval as soon as possible, so that future Financial Institutions have a choice of audit professionals from the outset.
Until you submit your application for approval, we are at your disposal to answer your questions free of charge.
Application forms for audit companies and lead auditors must be filled in on the approval application portal. Copies in PDF format will no longer be usable after 1 December 2020.
The auditor approval and supervision contract must either be signed electronically and returned by email to email@example.com, or signed and returned by post (in 2 copies) to OSIF, Rue de Rive 8, Case Postale 3178, 1211 Geneva 3.