951.311CISOFederal Council OrdinanceJan 1, 2007Original source
The additional audit of the L-QIF comprises the audit of compliance with the following regulations:
the regulation on the defining criteria for an L-QIF in accordance with Article 118a paragraph 1 CISA;
the regulation on notification and the collection of data in accordance with Article 118f CISA.
The additional audit must be carried out every two years.
In the first audit year after the launch of the L-QIF or after amendment of the fund documents, the additional audit shall also include an audit of compliance with the following regulations:
a. regulations on the issue and content of the following documents:
1. the fund contract of an L-QIF in the legal form of the contractual fund,
2. the articles of association and the investment regulations of an L-QIF in the legal form of a SICAV,
3. the company agreement of an L-QIF in the legal form of an LPCI;
b. regulations on amending the documents in accordance with letter a;
c. when using the model approach for risk measurement: regulations on its calculation and application (Art. 33–42 CISO-FINMA1in the version dated 1 January 20152apply by analogy).
In the audit year in which the deadline for compliance with the investment restrictions under Article 126q paragraph 3 must be met, the additional audit shall also include an audit of whether the deadline has been met.
Articles 5–8 of the Financial Market Auditing Ordinance of 5 November 20143apply by analogy to the conduct of the additional audit.
The audit of other provisions of financial market law as part of the supervisory audit of the institution responsible for management in accordance with Article 112 paragraph 1 CISO-FINMA4in the version dated 1 January 20215is reserved.