SUPERVISORY BOARD

Supervisory Board Audit

In order to improve effectiveness and efficiency of supervisory board activities, the Austrian Corporate Governance Codex recommends both an annual self-evaluation (C-36) and regular outside evaluation (R-62) for supervisory boards.

The Contrast Supervisory Board Audit offers the tailor-made opportunity to usefully implement the rules recommended in the Codex. Together with our partners, Dorda Brugger Jordis law offices and INARA (Initiative Austrian Supervisory Boards), we offer a unique, well-matched package of self and external evaluation.

With our Supervisory Board Audit we support members of supervisory boards in systematically evaluating and discussing in a group the effectiveness of their activities in the areas of selection and appointment, skills set and further education, remuneration, as well as particularly work organisation.

The model’s aim is to give particularly the president of the supervisory board a tool to continuously improve the efficiency and effectiveness of all board activities. Additionally, the transparent presentation of the evaluation results and the suggestions for improvements derived from them do not only strengthen stakeholders’ trust in supervision, but also help to legitimise remuneration of supervisory board activities in line with the market.

Vitality audit

It is the objective of the vitality audit to create – within a short project period – a clear over-view of the company's power (of survival) both currently and in the longer term. By conducting a performance analysis making use of benchmarks and best-practice examples, a strategy check and the analysis of the company's ability to renew itself, company vitality is critically evaluated. Thus, the need for action to safeguard a sustainably positive development of the company becomes transparent and specific approaches to improve performance and strengthen company vitality are identified. Furthermore, the potentials for growth and creating value are roughly evaluated and a coordinated implementation plan (road map) for the company's further development is established.

The vitality audit thus provides a solid basis for central decisions regarding the company's future development, particularly for board members and managing directors, shareholders and members of the supervisory board.

Foundation Audit

It is the aim of the Foundation Audit, based on a well-founded analysis of the foundation’s current configuration, to work out specific recommendations on the strategic, organisational and legal (particularly as regards tax law) development of the foundation. In this manner, the foundation’s management is to be put on a solid long-term basis for success even after the founder’s withdrawal from active involvement.