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Switzerland's FINMA declines comment on UBS auditor adverse opinion - Finance news and analysis from Global Banking & Finance Review
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Switzerland's FINMA declines comment on UBS auditor adverse opinion

Published by Global Banking & Finance Review

Posted on March 17, 2025

1 min read

· Last updated: March 17, 2025

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FINMA's Silence on UBS Auditor's Adverse Opinion

ZURICH (Reuters) - Switzerland's financial market regulator FINMA on Monday declined to comment on the "adverse opinion" expressed by UBS's auditor on the effectiveness of the bank's internal control over its financial reporting for 2024.

(Reporting by Stefania Spezzati; Writing by Ariane Luthi)

Key Takeaways

  • FINMA did not comment on UBS's auditor's adverse opinion.
  • The opinion concerns UBS's internal control over financial reporting.
  • The issue pertains to the 2024 financial year.
  • The report was written by Stefania Spezzati.
  • Ariane Luthi contributed to the writing.

Frequently Asked Questions

What is the main topic?
The main topic is FINMA's lack of comment on UBS's auditor's adverse opinion regarding the bank's internal control over financial reporting for 2024.
Why is FINMA's response significant?
FINMA's response is significant as it oversees financial regulations in Switzerland, and its stance can impact UBS's credibility.
What does the adverse opinion concern?
The adverse opinion concerns UBS's internal control over its financial reporting for the year 2024.

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