Audit and Oversight
The foundation prepares annual financial statements in accordance with Swiss accounting standards. These statements are subject to [ordinary audit / limited audit / other as applicable] and submitted to the supervisory authority of the Canton of Zurich in accordance with Swiss Foundation Law.
Regulatory Compliance with Partner Organizations
In accordance with its agreement with Swiss regulatory authorities, Cardinal Philanthropies Foundation makes grants exclusively to duly registered charitable and non-profit organisations. All grant recipients must:
- Be registered with the appropriate regulatory authority in their home country as a charitable or non-profit entity
- Provide detailed reports on the use of foundation funds and project outcomes
- Submit to due diligence and financial monitoring by the foundation
- Comply with anti-money laundering (AML) and counter-terrorism financing regulations
Financial Transparency
- Annual reports summarizing activities and key financial figures are available upon request
- Grant recipients are required to provide detailed reports on the use of foundation funds
- The foundation maintains strict due diligence procedures for selecting and monitoring implementing partners to ensure funds are used for their intended charitable purpose
Compliance and Risk Management
