Summary

SAI Switzerland conducted a follow-up audit of the implementation of key recommendations issued during the 2019 audit of the Federal Office of Customs and Border Security (Bundesamt für Zoll und Grenzsicherheit, BAZG). At that time, four recommendations were made concerning statistics, risk analysis and the supervision of precious metal smelters by the Central Office for Precious Metals Control* (Zentralamts für Edelmetallkontrolle). In 2023, the value of imported unprocessed gold amounted** to CHF 91.9 billion (or USD 109 billion), representing 28% of the total value of imports of all goods into the country. The value of imported precious metal goods in 2023 amounted to CHF 8.5 billion (or USD 10.12 billion). The follow-up audit found that the recommendation to clarify the scope and criteria for supervision of precious metal smelters was implemented. The Guidelines developed by the Central Office for Precious Metals Control detailed the responsibilities of precious metal smelters, further clarified the “questionable origin” of the commodity, and provided instructions for licenses specification. The Central Office also developed the Guidelines for Comprehensive Risk Analysis in Supervision under the current regulatory framework. The Guidelines are used both for planning in the central office and for audits by external auditors. SAI noted high synergies and savings potential for the auditees. The recommendation to strengthen the competencies, resources and independence of supervision of the Central Office has been implemented, with supervision assigned to a separate unit. ** Monitors trade in precious metals (gold, silver, platinum and palladium) and brands precious metal products (jewelry and watches). ** Gold imports to Switzerland are free of customs duties and VAT.