Disclosure is an essential component of the Financial Statements and requires specific care, attention and respect with regards to legislative and accounting requirements. The recent amendments to the International Standards on Auditing (ISA Italia) focus especially on the role played by the disclosure in order to guide the auditor through a global process of assessing and understanding how the disclosure is prepares, with the objective to detect potential material misstatement which might affect the transparency and undestandability of the overall financial reporting.