Vision - mission - value

Vision 

The FAOA is committed to  ensuring the quality, credi- bility and relevance of  auditing. 

High-quality and credible auditing is key to the reputation and success of the Swiss capital and financial market. Audit stakeholders (investors, creditors, the companies being audited and their bodies as well as the authorities) use audited figures to make economic decisions. 

Mission 

Those reading financial  reports can rely on the  audited figures. 

The FAOA has a legal mandate to ensure the proper fulfilment and quality of audit and regulatory audit services. It is the Swiss federal government’s audit licensing and oversight authority. The FAOA operates a licensing office and maintains a public register of individuals and companies that perform statutory audit services. Oversight of the state-regulated audit firms is carried out in a risk-oriented way and is based on oversight concepts. The FAOA does not perform «secondary audits» on the audited companies. It is primarily a law-applying and not a law-making authority.

Values

Independence and Credibility

The FAOA and its employees act independently within the area of tension between their statutory mandate and the differing expectations of audit stakeholders. Employees act with integrity, are motivated, and carry out their duties in the public interest.

Quality

FAOA employees maintain a high level of professional and technical expertise and apply it to ensure effective performance of their duties. They work efficiently, adopt a risk-based approach, and make timely decisions.

Transparency

The FAOA acts transparently and in a comprehensible manner. Decisions are communicated clearly and in a manner appropriate to the target audience.