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Financial statements of Foundations (non-profit): empirical analysis

Financial statements of Foundations (non-profit): empirical analysis

  Legislative innovations introduced by Leg. Decree 117/2017, specifically by article 4 and article 20, produce their effects on non-profit Foundations, which need to also comply with the new requirements related to the presentation of Financial Statements. Although no definitive and official Financial Statement framework has been issued by the Ministry of Labour, the guidelinesRead more about Financial statements of Foundations (non-profit): empirical analysis[…]

Financial statements of health-care companies

Financial statements of health-care companies

The domestic legislation related to the drawing up of financial statements of health-care companies (Aziende Sanitarie Locali) has experienced a continous evolution and improvement. Given the specific features of such entities (domestic regulation of the health care system, coordination activities run by Regional and State authorities, budget and financial constraints), the issue of financial transparencyRead more about Financial statements of health-care companies[…]

Changes in accounting policies and errors

Changes in accounting policies and errors

Following recent updates in the domestic accounting discipline, the OIC 29 accounting standard related to changes in accounting policies, accounting estimates and errors has considerably come closer to the international accounting standard policies, disciplined by IAS 8. The article contains a clear perspective on the innovations carried forward by the new discipline, with specific emphasisRead more about Changes in accounting policies and errors[…]

Financial statements framework of not-for-profit entities

Financial statements framework of not-for-profit entities

Legislative Decree n. 117/2017 has introduced specific requirements on the drawing up of financial statements related to not-for-profit organizations. Given their peculiar status and the related fiscal benefits, such entities must comply with more stringent requirements in terms of financial and non financial transparency, accoridng to a precise framework of applicable accounting standards and principlesRead more about Financial statements framework of not-for-profit entities[…]

Not-for-profit financial statements

Not-for-profit financial statements

  The new legal framework dedicated to not-for-profit financial statements, originated from Law 106/2016, has finally reached its ambitious objective to substantially innovate and organically discipline the complexity of operations, reporting and supervising activites, legal and fiscal implications of not-for-profit entities. Specifically, Legislative Decree n. 117/2017 has strongly reformed the discipline of the obligations relatedRead more about Not-for-profit financial statements[…]

Professional training: standards on auditing

Professional training: standards on auditing

I am grateful to the IPSOA professional training school for granting me the opportunity to meet with colleagues throughout Italy to discuss about legislation, applicable standards and obligations regarding the audit on financial statements. The current legislation requires that all auditors stricly comply with the set of rules and standards specifically designed and approved toRead more about Professional training: standards on auditing[…]

Live e-learning platform for Public Auditors

Live e-learning platform for Public Auditors

As anticipated, the National Council of Chartered Professional Accountants has released the professional training online platform aimed at Public Auditors. The web classes, organized in 20 sessions of 1 hour each, allows all Public Auditors an easy and free access to current and updated International Standards on Auditing, as well as to the current applicableRead more about Live e-learning platform for Public Auditors[…]

International Standards on Auditing: e-learning platform implemented by CNDCEC (Chartered Accountants National Counsil)

International Standards on Auditing: e-learning platform implemented by CNDCEC (Chartered Accountants National Counsil)

  The Chartered Accountants National Counsil has recently issued a newsletter that cointains the most significant requirements, set forth by the current legislation (Art. 5 of Legislative Decree 39/2010), in terms of professional training with reference to standards on auditing. In order to allow all Chartered Accountants to comply with the above mentioned legislation andRead more about International Standards on Auditing: e-learning platform implemented by CNDCEC (Chartered Accountants National Counsil)[…]

Periodic audits in Italy: Standard on Auditing (SA) Italia 250B.

Periodic audits in Italy: Standard on Auditing (SA) Italia 250B.

  Standard on Auditing (SA) Italia 250B sets forth a series of obligations on auditors to perform periodic audits in order to verify the accuracy of accounting requirements, which also involves the analysis on internal control processes, as well as the correct fulfillment of fiscal and bureaucratic periodic obligations. The article focuses on the requirementsRead more about Periodic audits in Italy: Standard on Auditing (SA) Italia 250B.[…]