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Letter to update letter of understanding from FRC on mutual recognition of statutory audit qualifications
Dr Reto Sanwald, Chief Executive Officer Mr Michael Hubacher, Head of Legal and International Affairs The Federal Audit Oversight Authority Bundesgasse 18 CH-3001 Berne, Switzerland
22 October 2026
Mutual recognition arrangements for statutory auditors - amendment to the FRC's letter to the FAOA of 8 December 2023
Dear Reto and Michael,
Thank you for your letter of 22 October 2026. I acknowledge the update to the Federal Audit Oversight Authority (FAOA)'s letter to the FRC of 8 December 2023 in respect of a new Examination Regulation for the higher professional examination as Certified Public Accountant (Swiss CPA).
The FRC accordingly amends its letter sent to the FAOA on 8 December 2023, as set out below, effective as of the date of this letter:
Paragraph 3f shall read:
Those requirements are set out in Article 4 of the Federal Act on the Licensing and Oversight of Auditors (Auditor Oversight Act, AOA, SR 221.302) and in the Ordinance on the Licensing and Oversight of Auditors (Auditor Oversight Ordinance, AOO, SR 221.302.3), in particular Articles 1-7 and 34 in combination with the Federal Act on Vocational and Professional Education and Training (VPETA), SR 412.10 and the Examination Regulation for the higher professional examination as Certified Public Accountant of 15 June 2022, in force as of 1 January 2026. 1
I would like to also express my thanks for the dedication and collaborative professionalism that the FRC has experienced from the FAOA during the time since the mutual recognition arrangements were first implemented.
Yours sincerely
Anthony Barrett Executive Director, Supervision Email: [email protected]
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Footnotes
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Previously EXPERTsuisse Examination Regulation for the higher professional examination as Certified Public Accountant (CPA), in force from 23 March 2009 until 31 December 2025. The Training and Examination are conducted by EXPERTsuisse as mandated by the Sponsoring Organization for the Advanced Federal Professional Examination for Certified Public Accountants (Trägerschaft - höhere Fachprüfung dipl. Wirtschaftsprüfer / Dipl. Wirtschaftsprüferin). ↩