2014

Staff
STIFA’s staff at the end of 2014 consisted of the Head of the Division and two part-time Legal Officers (50 % each).

Activity
At the beginning of 2014, 1,199 common-benefit foundations and ten private-benefit foundations were subject to STIFA supervision. By the end of 2014, the figures had risen to 1,239 common-benefit and 15 private-benefit foundations. On application, STIFA may exempt common-benefit foundations from the obligation to appoint an audit authority and then STIFA exercises the right of inspection accourding to its discretion. As of 31 December 2014, 166 of the 1,239 common-benefit foundations were exempt from the obligation to appoint an audit authority.

Stifa Activity Report 2015_V2

The focus was on carrying out STIFA audits of the exempt foundations (§ 29(3) StiftG), the 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). The STIFA applied to the court in 24 (2013: 17) cases for supervisory measures.

With short lectures and presentations e.g. at lunch meetings, STIFA sought dialogue with the market participants. STIFA actively aimed for the exchange of experience with:

  • the Liechtenstein Association of non-profit foundations;
  • the Association of Auditors;
  • the Tax Authority;
  • the European Foundation Center;
  • the Association of Foundation Supervision Authorities of East Switzerland.

Recent STIFA Participation Activities and Events:

  • an advanced training course with German foundation supervisors;
  • the general meeting of the Swiss Kantonal Foundation supervising authorities;
  • two meetings with some European Foundation Supervisors regarding cross boarder supervision and the combating of financing terrorism;
  • a one day lecture on the supervision of common-benefit foundations at the LL.M. course on company, foundation and trust law at the Liechtenstein University;
  • a speech on supervision at the 7th Foundation’s day at the University of Liechtenstein;
  • two speeches in training courses with the Association of Auditors.

The data managing project „StiCH“ (STIFA Case Handling), a due dilligence follow up instrument.

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