Annual Report 2017

Regulatory Audit | FAOA 2017
25
Figure 11
Number of supervised institutions by regulatory area
Regulatory area Number of supervised 2017 2016 2015
Banks Banks and securities traders (without Raiffeisen banks 26 ) 299 312 346
Insurers
Insurance companies 205 207 214
Insurance groups 6 6 6
Fund managers 45 44 43
CISA
Agents 92 94 94
Asset managers 217 206 178
Swiss collective investment schemes 1,641 1,551 1,542
DSFI Directly supervised financial intermediaries 163 199 227
2017 inspections
In calendar year 2017, and as in the
prior year, nine 27 regulatory audit
firms were inspected, thereof:
– Five subject to annual inspection
cycle as they audit more than 50 PIE.
– Three of six regulatory audit firms
subject to inspection at least every
three years, and
– One of seven pure DSFI regulatory
audit firms subject to inspection
every five years.
Audit quality at the nine regulatory
audit firms inspected was assessed
by means of nine file reviews. The following
categories of financial market
companies were selected:
– Seven banks, comprising two systemically
relevant banks, two cantonal
banks, as well as three medium
to small banks.
– One asset manager.
– One DSFI.
Figure 12
Overview of completed FAOA regulatory audit inspections and comment form findings 2017
Categories
Five largest regulatory
audit firms Other Total
2017 2016 2017 2016 2017 28 2016
Number of inspections 5 5 4 4 9 9
Comment Form Findings Firm Review
Regulatory Audit 3 3 1 5 4 8
Comment Form Findings File Review
Regulatory Audit 19 32 9 13 28 45
Number of inspected files 8 7 4 4 12 11
26 Additional 261 cooperatively-organised
Raiffeisen banks
27 Three audit firms at which the inspection
fieldwork was completed are excluded
from this annual report as the findings
process is still at an early stage. Conversely,
inspections that were still to be completed
in the prior year are included.