Statutory Audit of Non-Profit Foundations
Non-profit foundations are monitored by the Foundation Supervisory Authority (STIFA). The same applies to private-benefit foundations, which by a provision in the foundation deed are made subject to supervision. (PGR Art. 522 § 29)
For every foundation which is subject to supervision through the Foundation Supervisory Authority, in a non-contradictory procedure the court will order an auditor. The Foundation Board may suggest its desired auditor, whereby the Foundation Supervisory Authority shall be a party to this procedure. (PGR Art. 522 § 27)
If, according to the foundation deed, a regulatory body has been established, this function can also be performed by an auditor.