The first members of the Supervisory Board were approved by the Resolution of the Cabinet of Ministers of Ukraine “On Approval of the Supervisory Board of Kyiv National Economic University” No. 1022 dated July 6, 1998.

The current members of the Supervisory Board were approved by Order of the Ministry of Education and Science of Ukraine No. 872 dated October 03, 2022.

Pursuant to Article 37 of the Law of Ukraine “On Higher Education,” the supervisory board of a higher education institution shall be established by the decision of the founder(s) to oversee the management of the property of the higher education institution and compliance with the purpose of its establishment.

The supervisory board of a higher education institution shall contribute to solving the perspective tasks of its development, attracting financial resources to ensure its activities in the main areas of development and exercising control over their use, effective interaction of a higher education institution with state and local governments, the scientific community, socio-political organizations and business entities in the interests of development and improvement of the quality of educational activities and competitiveness of a higher education institution, exercising public control over its activities, etc.

Members of the supervisory board have the right to:

• participate in the work of the highest collegial body of public self-government of a higher education institution in an advisory capacity;
• participate in determining the development strategy of the higher education institution and monitor its implementation;
• facilitate the attraction of additional sources of funding;
• analyze and evaluate the activities of a higher education institution and its head;
• monitor the implementation of the estimate and/or budget of the higher education institution and make appropriate recommendations and proposals that are mandatory for consideration by the head of the higher education institution;
• submit to the founder of a higher education institution a proposal to encourage or recall the head of a higher education institution on the grounds specified by law;
• exercise other rights defined by the constituent documents of the higher education institution.

The supervisory board has the right to submit to the highest collegial body of public self-government and/or the founder(s) of the higher education institution a proposal to recall the head of the higher education institution on the grounds provided for by law, the charter of the higher education institution, and the contract.

The procedure for the formation of the Supervisory Board, its term of office, competence and procedure are determined by the University Charter.