Report of the statutory auditor

Opinion
We have audited the financial statements of Swiss Federal Institute for Vocational Education and Training SFIVET (the SFIVET), which comprise the statement of financial position as at December 31, 2022, and the statement of income, the statement of cash flows, a change in equity statement for the year then ended, and notes to the financial statements.

In our opinion, the accompanying financial statements comply with Swiss law as well as with the SFIVET Ordinance (SR 412.106.1), the Financial Budget Act (FBA, SR 611.0) and the Financial Budget Ordinance (FBO, SR 611.01).

Basis for Opinion
We conducted our audit in accordance with Swiss law and Swiss Standards on Auditing (SA-CH). Our responsibilities under those provisions and standards are further described in the "Auditor’s Responsibilities for the Audit of the Financial Statements" section of our report. We are independent of the Company in accordance with the provisions of Swiss law and the requirements of the Swiss audit profession, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Responsibilities of the SFIVET Board for the Financial Statements
The SFIVET Board is responsible for the preparation of the financial statements in accordance with the provisions of Swiss law and the SFIVET Ordinance (SR 412.106.1), the Financial Budget Act (FBA, SR 611.0) and the Financial Budget Ordinance (FBO, SR 611.01) and for such internal control as the SFIVET Board determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the SFIVET Board is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the SFIVET Board either intends to liquidate the SFIVET or to cease operations, or has no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Swiss law and SA-CH will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of the auditor’s responsibilities for the audit of the financial statements is located at EXPERTsuisse's website at: https://www.expertsuisse.ch/en/audit-report-for-ordinary-audits. This description forms part of our auditor’s report.

Report on Other Legal and Regulatory Requirements
In accordance with Art. 728a para. 1 item 3 CO and PS-CH 890, we confirm that an internal control system exists, which has been designed for the preparation of financial statements according to the instructions of the SFIVET Board.

We recommend that the financial statements submitted to you be approved.

Bern, March 9, 2023

BDO Ltd