Switzerland's big audit firms are pushing back against plans to hand much of their work to the federal financial regulator
After the Credit Suisse collapse, the Federal Council wants FINMA to carry out far more on-site bank inspections itself, rather than relying on KPMG, Deloitte and others.
The reform would align Switzerland with international practice but threatens a lucrative business for private auditors, whose billable hours have already fallen around 40% since 2018.
The public consultation closes on 19 November.
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