An audit company licensed by the Federal Audit Oversight Authority in accordance with Article 9a paragraph 1 of the Auditor Oversight Act of 16 December 20051must be appointed to audit the L-QIF.
The annual accounts and if applicable their consolidated accounts of the L-QIF and each real estate company belonging to it must be audited by an audit firm under state oversight in accordance with the principles of the Code of Obligations2.
The same audit company shall be appointed for the audit as for the institution responsible for the administration in accordance with Article 118g paragraph 1 or 118h paragraph 1, 2 or 4.
Article 730b paragraph 2 of the Code of Obligations applies accordingly to confidentiality by the audit company.
The L-QIF shall bear the costs of the audit.
The Federal Council shall regulate the details of the audit. It may issue additional regulations on accounting, valuation, financial statements and publication requirements.