Newsletter 732: Audit Mandate

Ladies and Gentlemen
Dear members

On 1 March 2021, VQF sold all of its shares of VQF Audit Ltd. (new: CAPREV Wirtschaftsprüfung und -beratung AG). Since March 2021, the VQF group thus consists of the SRO VQF and the Supervisory Organization FINcontrol Suisse Ltd. With this sale, the VQF group ensures to satisfy the growing regulatory requirements and to maintain a professional supervision. With this e-mail, we would like to inform you about how this change may affect you as a member of VQF and what possible steps you need to take.

While in the past, every member of VQF was by default audited by VQF Audit Ltd. (unless the member had mandated a different audit company), VQF no longer automatically allocates auditors to its members. Since VQF now exclusively works with external auditors and audit companies, every member has to submit a confirmation of its audit mandate with an accredited auditor/audit firm.

What does that mean? Every VQF member that has not yet provided VQF with a valid mandate confirmation of an audit company is kindly requested to do so. Any of the accredited audit companies may be chosen for this mandate (cf. the list of accredited audit companies of VQF: https://www.vqf.ch/en/vqf/organisation/audit-service). We kindly ask you to submit this confirmation by mail or e-mail (info@vqf.ch) as soon as possible.

In the future, VQF will inform all members about the latest date for their next audit. The members and their mandated audit company will then directly decide on the specific audit date and only have to respect the aforementioned deadline.

In case you have any questions or remarks, please do not hesitate to reach out to us.

Kind regards

VQF
Financial Services Standards Association