English translation of article 28 of the Swiss Insurance Supervision Act

External auditors

Chapter 3: Conduct of insurance activities
Section 5: Audit
> Art. 27 Internal monitoring of business activities
< Art. 29 Repealed

This page contains an English translation of the below Article of the Swiss Insurance Supervision Act (ISA) and is part of a web based Swiss ISA commentary in German language. Should you require qualified written legal advice on the ISA from a Swiss lawyer please do not hesitate to contact: Melissa Gautschi

Article 28 of the Swiss Insurance Supervision Act 

External auditors

1 The insurance company must appoint external auditors recognised by the Federal Audit Oversight Authority according to Article 9a paragraph 1 of the Audit Supervision Act of 16 December 2005 to carry out an audit pursuant to Article 24 of the Financial Market Supervision Act of 22 June 2007.

2 The insurance company must have its annual accounts and, if applicable, the group consolidated accounts audited by state-supervised external auditors according to the principles of the ordinary audit as set out in the Swiss Code of Obligations.