2012

Staff
STIFA’s staff at the end of 2012 consisted of the Head of Division, two part-time Legal Officers (50% each), and one Administrator/Secretary (80%).

Activity
At the beginning of 2012, 1,137 common-benefit foundations and seven private-benefit foundations were subject to STIFA supervision. By the end of 2012, the figures had risen to 1,169 common-benefit and ten private-benefit foundations. On application, STIFA may exempt common-benefit foundations from the obligation to appoint an audit authority and then as a rule itself exercises the right of inspection. As of 31 December 2012, 207 of the 1,169 common-benefit foundations were exempt from the obligation to appoint an audit authority.

The focus was on carrying out STIFA audits of the exempt foundations (§ 29(3) StiftG), processing of reports by audit authorities with objections concerning the management and/or appropriation of foundation assets as well as the verification of the accuracy of the deposited notifications of formation and amendment in the case of private-benefit foundations (§ 21 StiftG).

With short lectures and presentations e.g. at lunch meetings STIFA seeked the dialogue with the market participants. STIFA actively aimed for the exchange of experience with the Association of Auditors, the Chair of Company, Foundation and Trust Law at the University of Liechtenstein, the Tax Authority as well as the Liechtenstein Association of non-profit foundations. After all various opportunities have been used to establish new and to deepen existing contacts to foreign supervisory authorities.

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