EXPERTsuisse - Swiss Expert Association for Audit, Tax and Fiduciary
Member | Established: 1925 | Member since 1977
The Swiss Expert Association for Audit, Tax, and Fiduciary (EXPERTsuisse) is the professional accountancy organization in Switzerland that has played a prominent role in the country’s economy and society for more than 90 years. EXPERTsuisse provides initial and continuing professional development for the accountancy and tax profession and is a recognized audit and ethics standard setter for auditors and audit firms in Switzerland. Its members include auditors, accountants, tax consultants, technicians, bookkeepers, and students. EXPERTsuisse is a member of the Federation of European Accountants.
Statements of Membership Obligations (SMOs)
The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.
While EXPERTsuisse does not have direct responsibility for the quality assurance (QA) review system, which according to the law is the responsibility of the Federal Audit Oversight Authority (FAOA), QA is a top priority for EXPERTsuisse. As the recognized audit standard setter, EXPERTsuisse has issued a national quality control standard, converged with ISQC 1. EXPERTsuisse collaborated with the FAOA on the development, and subsequent improvements, of the QA system. EXPERTsuisse maintains a continuous dialogue with the FAOA to discuss and monitor legal and regulatory developments for their impact on the profession. Additionally, to assist in the implementation of the quality control standards, EXPERTsuisse carries out training and issues electronic guidance for application in SMPs to assist individual practitioners. EXPERTsuisse indicates that it is in the process of developing a peer-review-based QA system for individual practitioners as required by Swiss Law; however, its development is on hold due to legal discussions with the government on confidentiality rules.
EXPERTsuisse is encouraged to indicate in its SMO Action Plan whether the FAOA QA system is aligned with SMO 1 requirements. EXPERTsuisse is also encouraged to provide information in its SMO Action Plan on the scope of the proposed peer-review system, and whether it is being designed in line with SMO 1 requirements.
EXPERTsuisse has direct responsibility for setting initial professional development (IPD) and continuing professional development (CPD) requirements for its members (membership is voluntary). The only regulated professional accountants in Switzerland are Licensed Auditors and Licensed Audit Experts, for which IPD and CPD requirements are set by the Federal Audit Oversight Authority (FAOA). EXPERTsuisse incorporated updates to its CPD requirements and process in 2013.
While EXPERTsuisse reports to have an ongoing process to ensure that national training requirements and CPD are in accordance with international developments, EXPERTsuisse is encouraged to include a specific reference in its Action Plan to the ongoing adoption of IES requirements for its own IPD and CPD requirements. If possible, EXPERTsuisse is also encouraged to indicate whether the IPD and CPD requirements of the FAOA for auditors is in line with the IES requirements.
EXPERTsuisse is the audit standard setter, and has adopted the Clarified ISA for all mandatory audits in the jurisdiction, with additional requirements relevant for the national context. EXPERTsuisse has an ongoing process to consider and adopt new ISA. EXPERTsuisse participates in the translation of ISA into German along with the Institut der Wirtschaftsprüfer of Germany and with the Austrian Institut Österreichischer Wirtschaftsprüfer. Furthermore, EXPERTsuisse has an extensive training program to assist in the implementation process.
EXPERTsuisse sets ethical requirements for its members, which are based on the IESBA Code of Ethics. Furthermore, EXPERTsuisse maintains a hotline for its members, and offers seminars and presentations for both its members as well as the Federal Audit Oversight Authority.
EXPERTsuisse is encouraged to specifically indicate which version of the IESBA Code of Ethics its ethical requirements are based on, and whether or not it has an ongoing adoption process to consider and incorporate new requirements or amendments. EXPERTsuisse is also encouraged to promote the adoption of the IESBA Code’s ethical requirements for all regulated professional accountants in the jurisdiction. Finally, while the provision of seminars and presentations is commendable, EXPERTsuisse is encouraged to incorporate specific reference to initial professional development and continuing professional development required training on ethics.
The Swiss Federal Finance Administration (FFA) has adopted IPSAS in Switzerland. EXPERTsuisse is represented in the FFA and supports adoption and implementation of public sector accounting standards through a working party dealing with audit in the public sector and by providing guidance to practitioners engaged in auditing the public sector financial statements.
EXPERTsuisse has direct responsibility for the I&D of its voluntary members, and has a system of investigation, discipline, and appeals in place.
EXPERTsuisse is encouraged to indicate specifically whether its I&D system is in line with the requirements of SMO 6. EXPERTsuisse is further encouraged to include plans to address any of the missing requirements of SMO 6, and also to consider promoting the SMO 6 best practices to any other bodies responsible for I&D of professional accountants in Switzerland.
Given that IFRS and IFRS for SMEs are identified in the Swiss Code of Obligations as acceptable reporting frameworks, and the lack of responsibility of EXPERTsuisse for standard setting, EXPERTsuisse has focused its ongoing activities on promoting, raising awareness, and training on IFRSs.
IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.