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 Art. 552 § 29(1) PGR, 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.
