The outbreak of the Covid-19 pandemic has produced its strongest effects on NHS companies, which have dealt with an incredible increase in costs. Consequently, the urgency of a separated reporting of Covid-related expenses has led to specific legislative actions which have imposed strict requirements for the presentation of interim financial statements entirely dedicated to theRead more about Covid-19 reporting applicabile to NHS companies[…]

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 assessingRead more about Addressing disclosure in the Financial Statements[…]

The 2020 Financial Statements will be disclosing the financial impact of the Covid-19 pandemic due to restrictions, social distancing measures and related economic consequences on a broad range of businesses. The Italian legislator has interveened during the entire year in order to support companies and businesses heavily affected by the consequences of the pandemic, thusRead more about Early diagnosis on 2020 Financial Statements[…]

Equity and reserves represent a very peculiar account in the financial statements of not-for-profit entities.

The combined statutory auditor’s report, which encompasses the results of the activites carried out by statutory auditors for both supervisory and auditing tasks, whose basic guidelines is provided by the CNDCEC every year, encompasses specific issues linked to the Covid-19 effects on the financial statements, also given the related legislative modification issued during the emergencyRead more about The combined statutory auditor’s report[…]

A recent Ministerial Decree, which has set forth the precise scheme of financial statements of not-for-profit entities, has introduced a relevant reference for the auditing activities to be carried out in the financial statements of not-for-profit entities. After a long debate, it is now clear that the audit opinion needs to adhere to the requirementsRead more about Leg.Decree n. 39/2010 and ISA (Italia) in the audit of not-for-profit entities[…]

The correct classification of accounts in the financial statements needs to respond to the specific requirements set forth by the applicable accounting standards. In the present article I am providing an exhaustive analysis on the requirements of the domestic standard-setter both for the Balance Sheet and Profit&Loss, including relevant disclosure.

NHS entities fall within a very strict regulatory discipline encompasssing, among others, specific controls to be carried out by the appointed statutory auditors. The article provides a broad view on legislative implications and practical examples on the most important checks to be implemented.

NHS companies encompass a wide range of peculiarities and complexities that absolutely need to be asserted in order to effectively be part of a board of statutory auditors. In the present contribution we provide an overall view of the responsibilities and task assigned to the statutory auditors of NHS companies. Special credit to Prof. ErmandoRead more about The Board of Statutory Auditors in NHS companies[…]