Audit of private-benefit foundations voluntarily placed under supervision

According to foundation law, STIFA’s competence to monitor management and appropriation of foundation assets in accordance with their purpose primarily, but not exclusively, extends to the monitoring of common-benefit foundations. According to § 29(1) StiftG, private-benefit foundations may elect to place themselves under STIFA supervision pursuant to a provision in the foundation deed. In such cases, private-benefit foundations are subject to the same supervisory regime as common-benefit foundations and, like them, are audited by the audit authority – which in this case must necessarily be appointed.

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