- General News
On 19 June 2026, the FAOA adopted an amendment to Circular 1/2014 on Internal Quality Control in Audit Firms and thereby made the application of ISQM-CH 1 and 2 as well as of AQM for audit firms performing limited audits only binding for audit firms not under state oversight also.
On 19 June 2026, the FAOA adopted the revision of Circular 1/2014 on quality management. This was prompted by the issuance of the new standards ISQM-CH 1 and ISQM-CH 2, which provide for application by audit firms not under state oversight from 15 December 2026 and shift the focus from mere quality control to comprehensive risk assessment. In addition, the “Guide to Quality Management for Small and Medium-Sized Audit Firms (AQM)”, revised by Treuhand|Suisse with effect from 1 June 2026, requires an amendment to the Circular. As a result, the modernised guidelines will also be binding for audit firms that only conduct limited audits of annual financial statements as of mid-December 2026.