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practice a specific activity: rather, the professional title is a sign of competence. The principal professional body representing Swiss accountants is the Swiss Institute of Certified Accountants and Tax Consultants113; members can be either natural persons or enterprises.
As at June 2008, 23 auditors and 26 auditing companies held a Liechtenstein licence, while 5 foreign auditors and 22 foreign auditing companies operated under the agreements on free movement of services. Under its GATS schedule, Liechtenstein maintains no restrictions on cross-border supply, or consumption abroad for accounting, auditing, and bookkeeping services; certain market access limitations are specified for the supply of services through commercial presence. Liechtenstein has made no commitments on the presence of natural persons for these services.114
The auditing profession in Liechtenstein is regulated and supervised by the Financial Market Authority, in accordance with the Law on Auditors and Audit Companies.115 A licence is required to obtain the legally protected professional title of auditor (Wirtschaftsprüfer) and gain authorization to conduct professional audits and to provide related advice on accounting and finance, tax, organization, and information technology. The criteria to be met are: Liechtenstein or EEA citizenship, the holding of the legally prescribed academic qualifications, practical experience of at least three years under a licensed auditor or auditing company, and success in the auditors' examinations. The professional domicile must be in Liechtenstein. Auditing activities may also be undertaken by legal entities (auditing companies (Revisionsgesellschaften)) with their head office in Liechtenstein. In order to be granted a licence, the majority of the capital and of voting rights must be held by Liechtenstein-licensed auditors or audit companies, the majority of the members of the administrative body of the company must be licensed auditors, and management must include a full-time managing director who is a Liechtenstein-licensed auditor.
EEA and Swiss nationals who are licensed for auditing activities in their home state enjoy freedom of establishment in Liechtenstein. Licence requirements for these categories of foreign auditors are: academic qualifications equivalent to those requested from domestic auditors; success in special qualification examinations for foreigners; liability insurance; and professional domicile in Liechtenstein.
EEA citizens holding an auditing licence from their home country may exercise auditing activities in Liechtenstein temporarily. Licence requirements are: academic qualifications equivalent to those required of domestic auditors, success in special qualification examination for foreigners, membership in the relevant professional association in the home country, and liability insurance.116 Non-EEA auditors wishing to undertake auditing in Liechtenstein temporarily may be approved by the FMA under the conditions applicable to EEA auditors. However, unlike for EEA auditors, there is no right to approval.117
(c) Engineering and architectural services
113 For further information on the Institute, see Chambre Fiduciaire online information. Viewed at: http://www.chambre-fiduciaire.ch/.
114 WTO document GATS/SC/83A, 17 April 1994.
115 LLG 1993, No. 44.
116 LLG 1993, No. 44, Article 42, paragraph 2.
117 LLG 1993, No. 44, Article 41, paragraph 2.