ISBN 978-88-99517-01-4

Consiglio Nazionale English Version dei Dottori Commercialisti e degli Esperti Contabili 9 788899 517014

ISBN 978-88-99517-01-4

© Copyright Fondazione Nazionale dei Commercialisti. Edition July 2015

The translation, adaptation in whole or in part, reproduction by any means (including microfilm, film, photocopies), and electronic storage are reserved in every country.

The professional qualification ofCommercialista comprises a wide range of activities that broadly correspond to the following: English: Professional Accountant, Certified Public Accountant, Chartered Accountant, Statutory Auditor French: Expert-Comptable, Commissaire aux Comptes Spanish: Contable, Economista, Censor jurado de cuentas Table ofContents Territorial Bodies(Ordini Territoriali) The NationalFoundation -FNC

Our governance structure Introduction by Gerardo Longobardi, President CNDCEC Key figures Practicing theaccountancy profession Roles andactivities Entering theprofession Historical overview Members oftheboard ofCNDCEC

Table of Contents 3 65 39 23 57 13 31 6 9 4 7

Table of Contents 3 Introduction 4 Through publication, we wish to thisshort outline themainfeatures ofour The European integration processes, with its founding values such as free The Being aCommercialista our activityandsocialmission.Thisisnotaneasy passage for professionals characterised by thepresence ofnewtechnologies andby theneedto our capacityascitizensandprofessionals –are ofvital importance;they have market andpersonal life opportunities. movement andfree establishmentofpersons andservices,are essential many ofustoday already work incloud. promote specialised knowledge, skills, and the ability to communicate about reliable relationship basedonqualityandpublicinterest. provide, the rules that regulate our activity, and the guarantees for building a Introduction by Gerardo Longobardi, President CNDCEC sound andechoofdifferent languages. Profession – how to become aprofessional accountant, theserviceswe Nowadays, thedaily, medium and long-term challenges thatwe are facing–in Law that has regulated the accounting Profession for the first time dates back have great impactonourway ofconsidering issues,suchasindependence, benchmarks for theinstitutionalandprofessional activityofeachusand institutional evolution of our country for almost one century now, since the the faces ofcultures andexperiences thattake form overseas andbringthe to theLegislative Decree 139/2005 andtherelated regulations. the Profession consists today of116,000members andisorganisedaccording to 1905and1929. Over time,andwiththe evolution ofourregulatory models, We are anintegral andsynergic ofaneconomic part system thatisincreasingly who spendmostoftheirworking timebehindtheir“traditional” desks,yet Commercialisti have takento part the social, economic, business, and – includingpublicentities,governmental agencies, andprofessionals –towards – a forum for cultural exchanges, hectic activities, and proposals to “feed the document andeachfile, there isaface. Each situation requires action, which economy andto thePublicSector go farbeyond whatusers may think. our responsibilities andourcontribution to thedevelopment ofasustainable projects thatwe follow withpassion and support realized onlyif ajointandwell-coordinated effort ismadeby allstakeholders –where weplanet” are presenting ourproposal for thefuture ofourCountry. and theCommercialista and expectation gapsbetween beingtheCommercialista, intended asboththe actions andourapproach to theoretical research andpractice. Behindeach single professional andtheprofessional oftheOrdine beingpart professionale, simplification, assisted by aclear and well-implemented legislation, and by It isreally for important meto introduce thisconcept becauseourProfession Nowadays, thedevelopment andtheabilityto generate changes could be On behalfofmy 116,000Colleagues andonmy personal behalf, Iwishto is nottechnical knowledge butglobal understanding. is based on a cultural mainstay, that is, the sense of social duty guiding our your energy, your enthusiasm,andfor your entrepreneurial and institutional thank you allfor placingevery day your faithinourwork, for your creativity, the courage to look ahead. We are confronted every day withthechallenge ofbridgingtheknowledge We have promoted anactive presence ofourProfession atEXPOMilano2015 resulting from collective stereotypes. Ouractivities, Gerardo Longobardi

Introduction 5 Members of the Board of CNDCEC 6 Tel. 06.47863300 00185 –Roma Treasurer Achille Coppola Piazza dellaRepubblica, 59 E-mail. [email protected] Fax. 06.47863349 Roberto Cunsolo Davide DiRusso Gerardo Longobardi Web. www.commercialisti.it Members of the Board ofCNDCEC Vice President CNDCEC Office Holders Secretary President Antonio Repaci Attilio Liga Andrea Foschi Adriano Barbarisi Sandro Santi Francesca Maione Felice Ruscetta Giovanni G.Parente Raffaele Marcello Luigi Mandolesi Giorgio Luchetta Vito Jacono Maria Rachele Vigani Massimo Miani Marcello Marchetti Maurizio G.Grosso Maria LuisaCampise Ugo Marco Pollice CEO Board Members The NationalFoundation -FNC Tel. 06.4782901 00185 –Roma Alessandro Clò Nicolò LaBarbera Luigi Carunchio Piazza dellaRepubblica, 68 Gaetano Ambrogio Claudio Solferini Francesco Renne Giorgio Sganga E-mail. [email protected] Fax. 06.4874756 Vittorio Raccamari Michele DeTavonatti Maurizio Napolitano Web. www.fondazionenazionalecommercialisti.it FNC AuditorsBoard ofStatutory Board Members President Salvatore Bilardo Carlo Ricozzi Giovanni Castellani Vincenzo Busa Marco Elefanti Mario Cicala Scientific Committee Scientific Director

The National Foundation - FNC 7

The National Foundation - FNC 7 1 “Collegio dei Rasonati” (Institute ofbookkeepers), withaviewto establishing “Collegio deiRasonati” – includesachapter called “Tractatus de computis et scripturis”,where he – whichincludedthemerchants andtrade organisationsofVenice, Milan,and 1582, afew years after Pacioli’s death,Venice’s Council ofTen set upthefirst The originsoftheaccounting profession date backto thefirst forms of The first professional profile similar tothe present Commercialista The accounting profession continued being organisedasaguild untiltheLe different accounting professions (calculatores orratiocinatores), whichwere proportioni eproportionalita” –whichisareal mathematicalencyclopaedia engraved theiraccounting entriesonclay tablets. InAncientRome, existed contribution to thedevelopment oftheprofession. Thanksto hisacquaintances of sworn liquidators)”, includingall practitioners dealing with judicialwinding- control. Afew decadeslater, (Roll in1620,the“Registro deiLiquidatori giurati” presented for thefirst timethe concept ofdouble-entry bookkeeping, that professions ofthosetimes. profession started beingorganisedasaguild, justlike allotherintellectual passing afinal exam, includingadouble-entry bookkeeping test. requirements to bemetinorder to become aragioniere, suchassuccessfully promulgated by the Cisalpine Republic’s Vice-President provided for the name ofthefreedom ofassociationandpersonal independence. However, the a “Rasonato” astheperson incharge ofpublicsector accounting and a listofaccountants andimproving theRepublic’s financialperformance and up proceedings, wasestablished.Inearly19thcentury, apiece oflegislation Historical overview gathered inthe collegia opificium.Inthe first halfofthe12 Perugia –hehaddeveloped hisscientificskillsandpragmatic approaches Chapalier Law of1791whichprovided for the dissolution of allguilds, inthe became known throughout Europe under the name of “Venetian method”. In bookkeeping. Asearlyassomefive thousand years ago, theSumerians bookkeeping. During theRenaissance, Father LucaPacioli gave anessential back to the 14th century, when Milan’s city government formally appointed to mathematics andaccounting. His“Summadearithmetica, geometria,

1. Historical overview 9 th Century, the dates

1. Historical overview 9 The Profession of Commercialista in Italy 10 dissolution of all Professional Associations. Law n.1815 of 1939 provided for the official recognition through theestablishmentofaspecialprofessional Roll qualification was In1929,coined in1913. theprofession wasfurther regulated (“commercial science graduates”),of Italian“Dottori inscienze commerciali” on, withtheopeningofauniversity, specificallydealingwitheconomic subject old professional associationsstarted beingbrought backto life; however, Article 33oftheItalianConstitution provides for aState Examinationto enter prohibition to practice any professional activityintheform ofassociation.The matters. At first, Milan’sBocconi University graduates establishedprivate re-established theBar, undertheGovernment’s control. Rightafterwards, the and regulates theprofessions ofRagioniere and ofagoverning Professional bodywiththeenactmentofPresidential and theotherfor dottori commercialisti. Theadvent ofFascism entailed the associations and,in1910,they setupthefirst informal provincial professional single PublicbodyandRoll –thatofDottori Commercialisti contabili edEsperti , In 1906,aRoyal Decree gave formal recognition to theprofession ofRagioniere, Decree 1067/1953. The same year, the Presidential Decree 1068/1953 recognizes Constitution of the Italian Republic that was established after the Second World Le Chapalier Law did not remain in force for long as, as early as 1810, Napoleon Government supervision. bodies. Ever since, theItalianprofession hasalways beencharacterised by been inthepastbut,rather, independentpublic-law entitiessubmitted to the its academicnature. TheRoll wasestablishedatthefirst national Congress thus givinglife to aunifiedprofession called “Commercialista”. than fifty years later, in2008,the two professional bodies were united ina the Profession. theprofession In1953, ofDottore Commercialista obtainedthe thanks to theadoption oftwo setsofprofessional rules, onefor ragionieri they were nottheexpression ofprivate organisedsocialgroups asthey had War gave thevariousprofessional groups the“public-interest” status.Actually, which washeld in1911,while the“Dottore Commercialista” professional while the profession of Dottore Commercialista was formally recognised later and Perito Commmerciale. More

2 › › › › › The Activities The maindifference between thetwo Sectionsconsists intherange ofactivities There isalsoa specialsectionfor thosewhocannotpractice theprofession. Contabili (Albo),theapplicantneedsto prove technical knowledge andspecific competencies– are allowed to perform thefollowing activities: employed andjustasmallminorityofthemare employed incompanies and consists oftwo sections,namely: obtained andtherelevant State Examinationtaken. mainly practiced independently. Hence, most skills, which are mainly gained through university and post-graduate studies. In order to beregistered withtheRoll ofDottori Commercialisti andEsperti Only theCommercialisti –enrolled inSectionAbasedontheirskillsand Due to historical andcultural reasons, theAccountancy profession inItalyis Furthermore, someadditionalconditions needto bemet.ThenewRoll (Albo) in otherorganisations. Accessing theprofession the registration in Section A or B depends both on the university degree that thepractitioners registered ineachofthemare entitled out,and to carry › › › › › on the financial statements of public and private companies or entities Auditing, expressing opinionsorproviding otherassurance attestations not subjectto statutory audit,when it isprovided for by thelaw, ordered and to certifyany reports ontheuseofpublicfinancial resources. also for purposes,suchasaccess to publicandEUsubsidiesfunds; Esperti contabiliSection B–Esperti Section A–Commercialisti Company’s appraisals. Defending andrepresenting clientsbefore tax courts. by ajudge oranadministrative court,orrequired by private individuals, Commercialisti

2. Accessing the profession 13 in Italy are self-

2. Accessing the profession 13 The Profession of Commercialista in Italy 14 › › › › › › › › › › › › › According to therelevant professional regulations,Contabili Esperti –enrolled in SectionB–basedontheirskillsandcompetencies are allowed to perform the following activities: › › › › › › › › › › › › › Technical assessmentofbusinessprojects andcertificationofbusiness Statutoryauditofcompanies andpublicentities(alsoasmembers of 2409 oftheItalianCivilCode. delegated suchpowers by acourt(giudice dell’esecuzione) . order to benefitfrom any administrative relief provided for by theLaw. Esperti ContabiliAll theactivitiesofEsperti . Assessing, inviewofgranting thelegal statusoffoundations and Acting asinspectors andcourt-appointed receivers according to Article Acting asreceivers, court-appointed receivers andliquidators in procedures. receivership procedures (procedure diamministrazione straordinaria); preparing the schemeofarrangement/distribution, whenthey are plans to obtainpublic funds. associations, thesuitabilityoftheirfundsagainstpurposes; acting asreceivers pendente lite, administrators, andliquidators inlegal auditing andcertifyingthefinancial statements of associations,natural or audit committees –Collegio sindacale) services for thesebusinesses. Certifying investments for promoting environmental sustainability, in outsaleCarrying operations for movable andimmovable assets,and Preparing and keeping accounting and tax books, and employees’ ledgers, Preparing andcertifying environmental, social,andsustainabilityreports consulting activitiesfor localFinancial governments. Produce papers andresearch studiesdealingwithfinancialissues,also bankruptcy, judicial,andadministrative proceedings, aswell asin including future performance forecasts. Monitoring theuseofpublicfundsobtainedby businessesandtutoring legal persons otherthancorporations. for businessesandotherprivate/public sector entities. › › › › › › › › › › The access pathway isthefollowing: 1 T.N.: Statistical and estimate method used by the tax authoritiesto estimate thetaxes dueby professionals andfirmsoperating inspecificbusiness areas. Education, Training andRegistration Requirements › › › › › › › › › › + Master’s Degree) obtainedfrom aSchoolofEconomics according to the 18-month professional training; Three-year Bachelor’s degree inscienzedell’economia edella gestione aziendale own any business. competency criteria). certifications, including for purposes related to studidisettore other certification provided for by tax laws. Auditing the accounts of businesses and entities receiving Governmental previous university system. and auditing the accounts according to Article 2409-bis of the Italian Civil shall have theresidence orprofessional domicile according to geographical subsidies, orparticipated by publicentities. Issuing visto diconformità (compliance certifications) for tax returns.; tax Preparation andfilingoftax returns, andothertax fulfilments. Being registered withtheprofessional Roll (to thisend,thepractitioner Passing theState Examination(EsamediStato); Providing tax advice to taxpayers whoare notself-employed anddonot andregistering deedsanddocumentsrequiring digitalsignaturesFiling Code. Performing theaudit function orbeingmembers ofother audit committees, business management sciences; orany five-year laurea (Bachelor’s Degree Master’s Degree (laurea magistrale) with publicorprivate organisations. (Economics and Business Management Sciences); or a five-year in science ofeconomics oreconomic- 1 ; andany

2. Accessing the profession 15 The Profession of Commercialista in Italy 16 A -Commercialisti B - Esperti contabiliB -Esperti Sections EDUCATION/TRAINING SCHEME › › › › › › › › › › applicants have to meetthefollowing general requirements: Special requirements for registration inSectionA–“Commercialisti” – Special requirements for registration contabili” inSectionB – “Esperti In order to be registered with the Roll of include: › › › › › › › › › › 18-month professional training 18-month professional training Commercialista economic-business management sciences (classesLM770or56) covered by theRoll’s Sectionwhere theapplicantwishesto betransferred/ Absence ofany finaljudgement sentencing theapplicant for anoffence registered management, orinthefield ofeconomic sciences (degree classesL18or applicant’s strikingofftheProfessional Roll a reciprocity agreement withItaly Irreproachable conduct L33) Having adegree inthefields ofscience ofeconomics andbusiness Passing the State Examination Having aMaster’s Degree (laurea magistrale) inscience ofeconomics or Having residence orprofessional domicile inthegeographical area Fully enjoying civilrights Being anItalianorEUcitizen,acitizenofcountrythathasentered into that, pursuant to theprofessional regulations inforce, would entailthe 3 years 5 years (3+2) Education Length 18 months 18 months Training Length (Esame di Stato) allowing practicing as a Commercialisti contabili edEsperti , 1 oral exam 1 oral exam 3 written tests (onepractical) 3 written tests (onepractical) State Exams – include: › The relevant degrees are essentialpreconditions to qualifyandpractice as The mostintense andstructured periodoftheeducationaprofessional is diploma required by thelaw, notwithstandingany additional university rule. A precondition to access professional training isbeingregistered inthetrainees register withtheRoll, itisnecessary to hold the university degree orany other register (registro deltirocinio) kept by thelocal professional body. Inorder to practice andorganisetheprofessional activity. represented by theuniversity studies ineconomics andbusinessmanagement. a dottore commercialista orespertocontabile andtheItalianLaw doesnot Professional training is mandatory and lasts 18 months. It consists of foresee any otheroption. theoretical andpractical training, aimingatdeveloping the skillsrequired to Professional Training 18-month professional training › entered into areciprocity agreement withItaly management (classesLM770or56) science ofeconomics oreconomic-business Absence ofany finaljudgement sentencing theapplicant for anoffence Irreproachable conduct Examination (EsamediStato) Having residence orprofessional domicile inthegeographical area covered by Fully enjoying civilrights Being anItalianoraEUcitizen,citizenofCountry thathas that would entailtheapplicant’sstrikingoffProfessional Roll the Roll’s Sectionwhere theapplicantwishesto betransferred/registered Master’s Degree (laurea magistrale) in Successfully passingtheState Section A-Commercialisti REQUIREMENTS TO BE MET TO REGISTER WITH THE ROLL (SECTIONS A AND B) practicing asEspertocontabile Successfully passing the State Examination 18-month professional training economic sciences (degree classes L18orL33) 3-year university degree (laurea triennale) Examination (EsamediStato) business management ,orinthefield of Successfully passingtheState in thefields ofscience ofeconomics and Section B - Esperti Contabili Section B-Esperti (Esame diStato) allowing

2. L'Accesso alla professione 17 The Profession of Commercialista in Italy 18 The State Examination(EsamediStato) Those who practice an intellectual profession without passing the State Thanks to thissystem, thenecessarypreliminary andregular checksand The mentor –whoisaCommercialista registered for atleast five years –shall commercialisti contabili– andesperti whosework hasremarkable public controls are put inplace, to protect the community and guarantee thatthe commercialista oresperto contabile, dependingontheuniversity studies. organisations andprofessionals holding thesamedegrees andlicenced to courses may have aduration ofmaximum sixmonths. profession, anditisalsoaboutcheckingthequalifications,knowledge, and professional local body)andpracticing theprofession. practice theprofession. Thefirst sixmonthsofprofessional training may also may out maximum also carry six months of their training period abroad, with make sure thattraining issuitable to reach theexpected goals. professional, professional training may also consist in successfully attending allowed to call themselves “professionals” (professionisti), as they are mere allows to beregistered with therelevant Roll (whichentailsmembership inthe applicants may take theappropriate State Examination to qualify asdottore skills required to practice asaCommercialista and/or Esperto contabile. service providers (prestatori d’opera). State Examinationreferred to inArticle 33oftheItalianConstitution, which selected training courses organisedby thelocal professional bodies.These Passing theState Examinationisaprecondition to practice aregulated Examination asprovided for by33oftheItalianConstitution Art. are not Practicing a regulated profession implies to have successfully passed the Once theprofessional training hasbeen successfully completed, the Furthermore, pursuant to theprofessional training regulations inforce, trainees Finally, besides the practical experience gained by working with a senior interest impact–have thequalificationsandskills required inorder to practice framework agreements are inplace. the profession. take place duringthelastyear ofuniversity studies,provided that specific The State Examination to registered withtheRoll’s contabili SectionB-Esperti , The State Examinationto beregistered withtheRoll’s SectionA-Commercialisti, The exam isannounced through aDecree ofUniversity. oftheMinistry State consists in: consists in: Examinations are held every year, andtake place atdifferent Italianuniversities. a) a) b) b) Three written tests –oneofwhichispractical –aimingatascertainingthe Three written tests – one ofwhich is practical –dealingwith the following questions ontheactivitiescarriedoutinon-the-job training period, An oral exam aimingatascertaining thecandidate’s knowledge, in An oral exam aimingatascertaining thecandidate’s knowledge inthe principles offinancialmanagement; mathematicsandstatistics. management accounting; final statements and consolidated financial mathematics andstatistics,professional legislation andethics. matters: information technology, information systems, politicaleconomics, and onprofessional legislation andethics. apply suchknowledge inthefollowing areas: accounting; analyticaland areas tackled by thewritten exams, aswell asonthefollowing subject financial management; private law; businesslaw; bankruptcy law; tax law; systems andtechnology; politicaleconomics andbusinessadministration; statements legislation; statutory auditing;civilandbusinesslaw; subject matters: theoretical andpractical bookkeeping; statutoryauditing; bankruptcy law, tax law; labourandsocialsecuritylaw; information industrial andbusinessmanagement; banking;professional knowledge; labour andsocialsecuritylaw; civilprocedure. the areas tackled by the written exams, as well as theoretical-practical theoretical knowledge of the candidates and their ability to practically

2. L'Accesso alla professione 19 The Profession of Commercialista in Italy 20 TESTS TO BETAKEN TO BEPUTONTHEROLL Oral examination Written test 1 Written test 3 Written test 2 + › › › › › › › › › › › › › › › › › › or Same subjectmatters as for thewritten tests Section A › › › › › › › › › › › › › › › › › › Tax law Theoretical andpractical documents pertaining todocuments pertaining tax ethics matters selected for the management Civil procedure Industrial andbusiness Information systems IT Professional legislation and Political Economics Preparation ofdeeds/ Practical test onsubject Labour andsocialsecuritylaw Bankruptcy law Business law Private law management Financial Professional knowledge Banking Mathematics andStatistics bookkeeping statutory auditing litigation cases written test + › › › › › › › › › › › › › › professional legislation andethics professional training period, andon the activitiescarriedoutin theoretical-practical questionson Same subjectmatters as for thewritten tests Section B › › › › › › › › › › › › › › Tax law exercise onthesubjectmatters accounting administration n° 1 selected for Written examination Analytical andmanagement Accounting Consolidated financialstatements Civil andbusinesslaw Information systems andtechnology Financial statements legislation Financial Practical test, consisting inan Principles offinancialmanagement Political economics andbusiness Labour andsocialsecuritylaw Bankruptcy law Mathematics andstatistics Statutory auditing legislation – andmeetingtherequirements referred to inArticle 2oflegislative Decree n° The Statutory AuditorThe Statutory (Revisore legale) Qualification The law alsoprovides for protection ofthetitle of“commercialista”, whichonly The titles ofDottore Commercialistaand 39/2010 (includinggood reputation, holding atleast a3-year university degree, exemption from passing the qualifying exam Auditors (Registro deirevisori legali) whenthe Ofcourse,Audit allourmembers Firms. who According to thelaw, Dottori Commercialisti Contabili andEsperti canalso practicing asstatutory auditors. Inthisrespect, new rules entered into force, may continue rules are also envisaged for theregistration of professional training, andpassingthenationalqualifyingexam), are allowed presently kept and managed by of the Economy (MEF) the Ministry and Finance perform statutory audits. The legislation on statutoryauditing was reformed auditor, asprovided for by thelaw. applies to thosewhoappearinSectionAoftheRoll. are subjectto passingtheState Examinationandto registration withtheRoll. Sections AandB,have carriedoutathree- Roll ofCommercialisti Contabili, andEsperti Decree n°39/2010 explicitly provides for the by Legislative Decree n°39/2010, implementing EU Directive 2006/43/EC. Only it is worth highlighting that Art 4-bisofLegislative it isworthhighlightingthatArt licensed professionals registered withtheRoll ofstatutoryauditors –whichis for thosewhohave already successfully passed the State Examination to be registered withthe year professional training withaseniorstatutory to perform statutoryauditing.Specialgovernance Professional QualificationsandPractice with reference to new enrolled statutory auditors, were already registered withtheRoll ofStatutory Esperto Contabile are protected, and Legislative Decree n°39/2010) the auditprofession referred to in Revisori legali deiconti) (to practice statutory auditors (Registro dei Registration withtheRoll of contabili)Section B–Esperti (Section A–Commercialisti ; Being registered withtheRoll National QualifyingExam Professional training (18months) business management areas University degree (laurea) ineconomics/ (summary) OBTAINING THEQUALIFICATION

2. L'Accesso alla professione 21 3 – carry outactivitiessupportive to– carry publicsector entities,withthird parties The latest reforms and laws have tasked the practitioners registered as Commercialisti Contabili andEsperti commercialisti Contabili andEsperti canbecorrectly definedas“auxiliary” to As amatter of fact,ourprofession hasbeen interestingly expanding over the A detailed list oftheactivitiesisprovided inArticle1oftheLaw onthe Auxiliary to thepublic administrations whenthese administrations (usually 1oftheprofessionalArt. law, andconsidering thefunctionsthey canfurther As underlinedabove, thelegislation ontheprofessional activityof As highlighted above, inorder to perform saidfunctionsspecificqualifications profession iscomplex, andpractitioners have close relationswith inparticular profession ofCommercialisti perform according to otherrules, theprofessional activitiescarriedoutby relying onthemfor theaccurate and diligent performance ofsuchactivities. registered in ourRoll. For thisreason, andalsoto guarantee their customers administration concerned (by replacing it),insituationsspecificallyprovided and skillsare required, whichthelaw specifically acknowledges to practitioners skills. Role andactivities Looking atthespecificskills required for registered practitioners according to Of relevant public interest when practitioners – generally engaged by clients go through continuing professional development (CPD) –thusconstantly Commercialisti Contabili orEsperti withperforming agrowing numberof businesses, citizens,publicadministrations, authorities. andthejudiciary increasing theabove-mentioned activities. “auxiliary” last few years, thusentering strategic particularly areas for theeconomy. for by thelaw. functions; orwhenthepractitioner canlawfully actonbehalfofthepublic functions thatinthepastwere carriedoutby publicadministrations, thus the judicialauthority)charge thepractitioner withperforming sometypical the publicadministrations, andof“relevant publicinterest”. that saidprofessionals may out,whichrequire carry specificand technical top-quality services, Commercialisti Contabili andEsperti are required to and Esperti contabiliEsperti . Thislistproves thatour provides for specialrules ontheactivities

3. Role and activities 23

3. Role and activities 23 The Profession of Commercialista in Italy 24 › › › › › › › › › › › › decision-making stages ofacompany’s life –beitasmall,medium,or enterprises. Actually, ofourmembers theparticipation isessentialatall control. consultancy services,orwhenperforming thetypicalfunctionsofcorporate enhancing theirknowledge –to fulfiltheethicalobligationsourprofession Throughout thecompany’s life, by performing thefunctionsfocused on: professionals often assistentrepreneurs indesigningtheirbusinessplans. multinational enterprise –includingbefore itis incorporated, since registered needs to comply with. In thesesituations,assistance is provided inthefollowing stages: At thecompany’s stage, embryonic by providing consultancy aimingat: interest role when assisting the entrepreneur in decision-making, by providing Most Italianbusinessesare smallandmedium-sized,often family-run More specifically, a registered Commercialista In the start-up phase,byIn thestart-up performing thefollowing activities: › › › › › › › › › › › › Analysing thefinancialneeds Setting upofthecontrol system Setting upoftheITsystem Internal organisation governance system Identifying themostsuitable legal form for thecompany anddefiningits Collecting dataandlegal-financial feasibility information, the to support Providing tax advice –calculating revenue, filling in andfilingstatements planning Financial Estimating thecontributions inkind Preparing the Bylaws andthelegal papers required for theincorporation Raising funds Preparing the business plan initial assessmentofthebusinessplan fulfils an important public-fulfils animportant › › › › › › › › › › › › This activityiscarriedoutin parallel withthemanagement oftheenterprise, The of consultancy servicesfor specificandsignificantoperations ofa company’s checking compliance withlaws andbylaws, good governance principles and, collegio sindacale, andofany othermanagement control body. Actually, As mentionedabove, Commercialisti play acrucialpublic-interest role within prepared by thecompany andaudited by external auditors orauditfirms. most importantly, thesuitabilityoforganisational,administrative and and and should notbeconfused withthecontrols onthefinancialstatements accounting framework adopted by theenterprise andits proper operation. It is worth highlighting that, among the activities that registered life. Theseoperations include: the corporate governance area. › › › › › › › › › › › › Tax consultancy andplanning collegio sindacale carriesoutacontinuing monitoring andcontrol activity, Consultancy during thedissolutionandwindingupofacompany; Consultancy for thedisposalofcompanies; Assignment ofshares oflimited company shareholdings; or ofany othermanagement control body Administrative controls and acquisition; Statutory auditing,asexternal auditor ormember ofthecollegio sindacale Crisis management activities for distressed companies. Consultancy for extraordinary operations such asrestructuring, mergers Bookkeeping, preparation offinancialstatements and reporting Business management Providing andrepresenting support customers intaxation litigationcases in charge oftheaudit Monitoring compliance withthelaw, asmemberofthecollegio sindacale Esperti ContabiliEsperti Commercialisti carry outtoentrepreneurs,carry support there isthe provision enrolled inSectionAcanbemembers (sindaco) ofthe Commercialisti

3. Role and activities 25 The Profession of Commercialista in Italy 26 › › › › › Therefore, theItalianlegislation enhances functionsperformed thesupervision 2006/43/EC, theItalianlegislator regulated hasfurther statutory auditing, of theItalianlaw. Actually, inorder to putinplace strictandreliable controls of itsshareholders, itscreditors, andany third party. expert andindependentpractitioners –to protect therightsofcompany, collegio sindacale entirelymembers madeupof registered withtheRoll of of activitiesthatmay becarried outby Commercialisti contabili andEsperti . As suggested above, therole played by thecollegio sindacale isaspecificity As to thefunctions performed by Commercialisti management and theauditingactivities;atfirst, suchprovisions only targeted performed by external professionals, ourlegislator madeadistinction, addition, withtheLegislative Decree n°39/2010, implementing theEUDirective as early1998,between thecontrol over thelegality ofthecompany’s audits (withsomeexceptions, whenstatutory auditingisperformed by the at pursuing community goals. More specifically, eachmemberbelonging to statutory auditors). statements, by taskingnatural persons orexternal firmswithperforming such Section Amay beappointed as: Bearing inmindtheexplanations provided inChapter 2,ontherequirements be deemed ancillary tobe deemed ancillary thefunctions performed by the judge/court, andaim in thecorporate governance framework by thecollegio sindacale –madeupof listed companies, butthey were subsequentlyextended to allcompanies. In for beingregistered withtheRoll, statutoryauditingisalsoincluded in thelist that is,theyearly auditingoffinancialstatements or consolidated financial › › › › › criminality; management procedures; and immovable assets; Official receiver appointed by the judge to deal with the selling of movable Court-appointed inspector (ispettore giudiziario)andadministrator; Court-appointed receiver for assetsseizedandconfiscated from organized Court-appointed receiver, liquidator; Receiver, court-appointed administrator, court-appointed liquidator in bankruptcy, judicial,andadministrative proceedings, aswell asinspecial in thelegal field, they can › › › › › › › › › › › › Typical examples includethefunctionsperformed intheareas oftax law and The specificitiesofthisprofession alsoappearintheprovision ofother kind engaged by theirclients,they perform relevant public-interest functions. of services. As already mentioned, although they actonbehalf of theirclients,our non-profit. Again, insuchfields, althoughinmostcasesthe professionals are practitioners alsoperform public-interest important functions. and yet afinancialactivitywhendealingwithsocial enterprises). speaking, theregistered practitioners mayoutthefollowing carry activities: services,andtosupport dealwithany contentious procedure. Generally specificity of the field and the activity carried out (which is a non-profit activity, In thetax law field, ourmembers are asked to provide tax consultancy, tax In thenon-profit sector, Commercialisti play asignificant role, considering the › › › › › › › › › › › › Arbitrator andmediator; In charge ofthePreparation ofthevaluationreportsfor pledged or In charge ofperforming thefunctionsrequired incomposition proceedings Member oftheTaxpayer Protection Authority. Intermediary tasked withfilingtax returns; Certifications provided for by taxation laws; Issuing visto diconformità (compliance certifications), tax certifications, Judge intax courtcommissions; planning; Tax enforcement-related certification. Judge inlocal tax court commissions; mortgaged property inbankruptcy proceedings for composition purposes; agreements; In charge ofissuing specialcertifications provided for by bankruptcy law; In charge ofcertifyingcompany reorganisation plansandrestructuring including for purposesrelated to studidisettore ;andany othertax and for over-indebtedness crisesandassetliquidation.

3. Role and activities 27 The Profession of Commercialista in Italy 28 › › › › › › › The role ofthepractitioners auditingpublicentitiesisquite complex, and goes entities. or supporting itsactivities or supporting organisations recorded over thelastfew years, there isanincreasing needto Another strategic area inwhichpractitioners registered withourRoll play putting forward proposals aiming at improving the public entity’s management making remarks, issuing certifications, makingdeclarations onoath,and auditors for Municipalitieswithless than15,000inhabitants. a crucialrole thanksto theirskillsand specific knowledge isthatofpublic and ofconsultancy intheareas ofplanningandmanagement at thevarious stages of thecreation and life of this kind of organisation. suitably protect therelevant stakeholders. Thatiswhy thefunctionsperformed Lastly, itisworth highlighting the specific services provided by ourpractitioners On account ofthat,and given thesignificantgrowth of voluntary-sector beyond simple monitoring andcontrol, whenthey go asfargivingadvice, by Commercialisti are ofoutmostimportance, bothinterms oforganisation, involved inthefollowing activities: More specifically, our legislation tasksthepractitioners withtheauditof functions asmembers ofthecollegio sindacale, orasapproved statutory the financialstatements ofpublicinstitutions.They may perform suchaudit when they are asked to: › › › › › › › Making sure thatthe organisationislawfully andproperly managed. auditsandreviews; Financial Managing thefundraising system; Setting upcorporate andfinancial reporting system; Assessing theadequacyofassetsassociationsandfoundations Establishing theorganisation,recognition andregistration withthe relevant publicRegisters; and providing implicit orexplicit investment advice; against theirpurposes,for therecognition oftheirlegal status; Carry out and circulateCarry financial analysis studies and research, dealingwith the shares oflisted issuers, makingforecasts ontheirfuture performance Commercialisti are › › public or private entities: these activities also include filing the financial statements. File andregisterFile deedsanddocumentsrequiring digitalsignatures with

3. Role and activities 29 4 › › › › The First Section(GeneralThe First Provisions), contains theprovisions establishing The Code ofEthics oftheItalianCommercialisti –whichispresently being The rules of conduct are specific for every category of professional who The expression “professional ethics”designates thesetofrules ofconduct 45 Articlesgrouped into four Sections,namely: our practice’s mainfounding principles, thatis, independence, objectiveness, comply with. category’s professional reputation anddignity. category from fallinginto disrepute withthegeneral public,whichmight ethical behaviour guarantees customers high-qualityprofessional services;on reviewed following therecent reform ofallregulated professions –consists of practice (relations with colleagues, customers, other professionals, and the regulating the activityofregistered practitioners. actually happeniftheany practitioner acts inaway suchasto damage the are required by thelaw to register withtheRoll, andareby supervised the Practicing theAccountancy Profession Hence, there isneedto outlinethebasicethicalrules practitioners have to Being ethicalrules, they are worded asgeneral principles rather thanreferring Public Administrations), and the behaviour and attitudes in everyday life. Ethical principles guideboththeconduct ofourmembers intheprofessional Ministry of Justice.Ministry Such rules have a twofold purpose. On the one hand, to specificsituations,which would anyway bedifficult todefine. the otherhand,compliance withethicalprinciples prevents theprofessional Professional Ethics › › › › rniinl Provisions Transitional Competition Relations Professional Provisions General

4. Practicing the Accountancy Profession 31

4. Practicing the Accountancy Profession 31 The Profession of Commercialista in Italy 32 137/2012). conditions ofindependence, anddeciding–insomecases not to accept or our professional activity, our specialisations and qualifications obtained. This commensurate withtheviolationperpetrated. press, orprofessionals registered withotherRolls). relations any practitioner actuallyestablishes.Therefore, besidestherelations rules may measures, incur disciplinary taken by the Board of the local Ordine personal specialisations andprofessional qualifications,thecharacteristics of regulated professions onlyatalater stage (cf. 4Presidential Art. Decree n° as well asthe relations withotherpossible (suchaspublicoffices, parties the at the professional practice, with trainees (who are also required to comply any provider ofpublic-interest services. Section Three onCompetition introduced –even before ournationalLaw– the Section Two onProfessional Relations provides for ethicalrules for allthe It isworthclarifyingthatethical principles are notapurely formal exercise Practicing theprofession implies continuing monitoring andascertaining the Following theguidelinesandprovisions ofBersani Law n°248/2006 – has establishedprinciples thathave beenintroduced by thelaw for allother integrity, confidentiality, competence, anddiligence, whichare essential for form ofadvertising is allowed, provided that theusers are given transparent, freedom ofinformative advertising,through any mediumanddealingwith for our profession. Actually, any member who does not abide by said ethical terminate ajoboranengagement, in order to exclude any conflict ofinterests. true, accurate, unambiguous, and never defamatory ordeceptive information. the relevant professional bodies,withemployees andotherpeople working the memberbelongs to and,therefore, sanctionsmay disciplinary beimposed the services provided, andtheprices ofsuchservices –ourCode ofEthics with theCode ofEthics,asthey shall,laterpracticing on,start theprofession), with colleagues, italso includesprovisions ontherelations withcustomers, which abrogated theprohibition, including anyprohibition, partial to advertise Independence andIncompatibility › › › › › › › › › › The rules onindependence are mainlyprovided for by law, andthesubject The other thanaccountancy ones,whichwould make awell informed, objective, offices andduties,whichare identified inthe professional regulation. consequences, besidesthe legal ones. There isnoincompatibility whentheprofessional’s own entrepreneurial A statutory auditor cannotauditthefinancialstatements ofa company if reaffirms thisobligation,thusalsoproviding for possible disciplinary and reasonable thirdinfer party thatthestatutory auditor’s independence is Statutory auditors auditingthefinancialstatements ofa company should be in itsdecision-makingprocesses. independent from thecompany itself, andshould notbeinvolved inany way is dealtwith,according to a“principle-based” approach. OurCode ofEthics there isany direct orindirect financial, business,orotherkindof relation activity: with thecompany, includingany relation linked to theprovision ofservices General Incompatibility Incompatibility WithTheAuditor’s Duty › › › › › › › › › › Commercialisti Contabili andEsperti practice isincompatible withvarious Tax collection agent Public service contractor Own entrepreneurial activity Journalist mandate, andaimsatpursuing thecustomer’s interests. Is amere possession orconservation activity Is anassetsadministration activity Consists inmanagement/administration, basedonaspecific professional Consists in holding shares of service companies linked to the practice of Financial advisor Financial Notary the profession

4. Practicing the Accountancy Profession 33 The Profession of Commercialista in Italy 34 › › › › › › › › › › › objectiveness establishedby theirprofessional bodyandapproved by the conditions include: compromised. Theindependence ofastatutory auditor may bejeopardised auditors or, ifthey have already been,they shalllose theiroffices. Said Security andExchange Commission), orestablishedbyofthe theMinistry In thesesituations,thestatutoryauditor shalladoptmeasures to mitigate Natural persons inthefollowing conditions cannotbeappointed asstatutory Economy after consulting andFinance, withCONSOB. Licensed statutory auditors abideby theprinciples ofindependence and independence, thestatutoryauditor shallnotperform theaudit. Ministry of the Economy and Finance, after oftheEconomy consultingMinistry andFinance, theCONSOB (theItalian the aforementioned risks.Ifthoserisksare suchto compromise his/her when oneofthefollowing riskarises: Grounds For Auditors IneligibilityorNon-appointment ofStatutory › › › › › › › › › › › Trust orintimidation. degree to theDirectors ofacompany orofitseventual subsidiaries. or have any otherfinancial relations compromising theirindependence. entail suchpunishments. Any statutory auditor thathasbeenstricken offorsuspendedfrom the Advocacy professional Roll of statutory auditors. Self interest Self-review Spouses, persons related by consanguinity oraffinitywithinthe fourth Persons exceeding thenumberofjobsallowed by CONSOB regulations. People having aworking relationship, orcontinuing consultancy relations, Persons debarred from holding public offices, also temporarily, orthatare Debarred, disqualified, andbankruptpersons. Familiarity incompetent to hold management positions,following convictions that 138/2011 7Presidential andArt. Decree n°137/2012). CPDisan ethicalobligation, The Recognition ofProfessional Qualifications The recent reform of the Profession has introduced the obligation for development obligationhasbeenintroduced intherules governing their of Services (Title IIofDirectiveof Services(Title 2005/36/EC) III).A andEstablishment(Title continuing professional development, alsobasedontheinternal rules issued specifies the obligations and the various waysof Ethics further out to carry Annex to theDirective, inparticular, themedicalprofessions andarchitects), or practicing throughout thewhole nationalterritory oftheHostMember State and recognition procedure. Therecognition ofprofessional qualifications allows precondition to free establishmentisbeingregistered withtheprofessional move out their professions and carry throughout the EU, namely the Provision practitioners (Articles 12and29oflegislative Decree n°139/2005). TheCode professions asalegal obligationandanethical rule for allregistered professional credit assessmentcriteria. practitioners registered withtheRolls ofregulated professions to constantly are going to bepublishedsoon–thedetails concerning thefulfilment ofsuch measures.and itsviolationentailstheadoptionofdisciplinary systems, minimumrequirements for thewhole nationalterritory, and Continuing Professional Development (CPD) It isworthreminding thattheItalianCommercialisti Contabili andEsperti Esperti contabili).Esperti Basedonsuch system, theforeign practitioner’s education, Roll oftheHostCountry, whose competent authorities need to outa carry Directive 2005/36/EC regulates thetwo essentialways professionals canfreely Pursuant to theLaw, theBoard ofCNDCECshalldefine–through rules that based ontheso-called General System (whichappliesto Commercialisti and by CNDCECand by theLocalProfessional Ordini. have been“lifelong pioneers, learning” inthatthecontinuous professional is granted automatically for some professions (which are listed in the relevant improve theirprofessional knowledge Paragraph 3, (Art. 5,Law Decree n° training obligation, by providing for training management and organisation

4. Practicing the Accountancy Profession 35 The Profession of Commercialista in Italy 36 These goals shallbereached byinvolving further thecompetent authorities The EPCaimsatfacilitatingtherecognition ofprofessional qualificationsand The European Professional Cardelements (EPC)isoneofthemostimportant of the Home Member State, and introducing computerised procedures. The or more member States isrequired, over theten years priorto theprovision of of theHostMember State (buttheoneobtainedinHomeMember State), contain information ontheactivitiespractitioner intends to perform. In profession inotherMember States, where suchprofession isregulated. possibility to practice withoutpassing any test andwithoutregistering locally. regulated, evidence ofonlyone(nottwo) year ofprofessional experience inone regulating the profession. recognition. However, there is need to register with a special Section of the at streamlining theprocedure for thosewhointend to pursue aregulated are interested inbenefitting from the advantages offered by theCard that, as possible aptitudetests. and requirements. Ifnecessary, compensation measures are envisaged, such services, Member States may askfor information ontheservices, once ayear. services. Theprofessional experience isnotrequired ifaregulated education such cases,theserviceprovider cannotuse theprofessional title (qualification) studies, andqualificationsare assessedand compared to nationaleducation In 2013, thefollowingIn 2013, innovation wasintroduced for the“general system”: if EPC isavoluntarytool, whichismadeavailable to thoseprofessionals who Register, based onawritten statement to bemadeinadvance, whichshould Conversely, thetemporary provision ofservicesdoesnotrequire any but shall be subject to the national provisions measures and disciplinary in essence, includethespeedingupof recognition procedures andthe introduced by thereviewed Directive. in order to ascertain thetemporary andoccasional nature oftheprovision of is envisaged for the profession in the Home Member State. For seasonal works, the service provider isacitizenofMember State where theprofession isnot Professional Cards Ordine Commercialisti of professionals –alsointermssoto ofequity participation ensure that resolutions can bemadeanddecisionscantaken by suchmajority. profession –andby thelegal provisions envisaging atleast atwo third majority personality to partnershipsandfirms,at least intheir relations withthird parties, and may bemade upofprofessionals from different regulated professions, thus any damage causedby thepartner/practitioners intheirprofessional activity. In bothcases,eachprofessional fulfils amandate takingfull responsibility vis-à- Furthermore, they are boundto abideby therelevant professional Code ofEthics, Professional Corporations, asthey are considered asprofessionals, are registered Corporations (societàdiprofessionisti -STP). Besides theLaw n°183/2011 allows practicing intheframework ofProfessional becoming firms. multidisciplinary by the exclusivity ofits business purpose– which is restricted to practicing the include “lay” partners, thatis,partnerswhoare notmembers ofany professional in partnerships (firms). in partnerships (firms). Unlike thepast, suchpartnerships may alsohave any company form andmay vis the client. However, recent court decisions have attributed of legal some sort Shared Offices and of AccountantsPartnerships with aspecialsectionoftheRoll. They musttake outaninsurance policycovering with whomthey actasasingle entity. and are notregistered withany Roll. Professional qualityisguaranteed and Esperti ContabiliEsperti may work independently(own practices), or

4. Practicing the Accountancy Profession 37 5 › › › › The Board ofCNDCEC The Board ofAuditors body, isthe supervisory whichconsists ofonePresident The mandate lasts4years, and can berenewed onlyonce. The NationalBoard consists of21members, withatleast 11ofthembeing contabili-CNDCEC has116,245registered members. They are dividedinto 144 organisation through specialregulations, andissubjecttoof thesupervision At present, theNationalProfessional BodyofCommercialisti represented by whichisbasedinRome. CNDCEC, possessing fullvoting right. registered onSectionAoftheRoll. and two members, selected andelected amongtheregistered practitioners. financial resources, andself-regulatory powers. Actually, itprovides for its own Italian courts. At anational level, theProfession isexclusively andunivocally Potential candidates are allpractitioners registered for atleast 10years, and Legally speaking, CNDCEC is a public sector legal entity, with its own assets and Our Governance Structure (Local branches) basedonaterritorial jurisdiction principle following thatof the Ministry ofJustice.the Ministry Office holders: Members andOffices › › › › Treasurer Secretary President (onRoll’s SectionA) Vice President

5. Our Governance Structure 39 and Esperti Esperti

5. Our Governance Structure 39 The Profession of Commercialista in Italy 40 The board of an Ordine territoriale may have 7 to 15 members, who can be Treasurer Their widespread presence throughout thenationalterritory allows theOrdini

Commercialisti contabili andEsperti . on the importance of promoting a strategic role in the debates on the most elected ifregistered withtheRoll for atleast 5years. other professions. The Board oftheOrdine territoriale Justice andCNDCEC. and institutionalinterest, theBoards sets upstudycommittees andworking and financial resources; they are of subject oftheMinistry to thesupervision Secretary groups. Besides covering all areas linked to all fields ofprofessional activity, In order to facilitate research intheareas ofspecialprofessional, political, CNDCEC places specialfocus andonthepresence onequalopportunities of CNDCEC adoptsamandate program, statingthegoals andtheprioritiesit President (onRoll’s SectionA) generally, to become the local interlocutors ofpublicsector, academia,and Legally speaking,theOrdini territoriali are publicentities, withtheirown assets Currently, in Italy there are 144 Vice President important issuesconcerningimportant theProfession. international, national,andlocal dimensions.Italsoplaces significant focus intends to promote, always highlightingtheclose linksexisting between the Ordini territoriali territoriali to promote therelations withlocal publicauthoritiesand,more women inthe Profession. Bodies, Members, andOffices Positions: Ordini territoriali, with a total of some 117,000 The Board ofAuditors consists of3fullmembers and2alternate members. can onlybeelected for maximum two consecutive mandates. The Board ofAuditors Board members have a4-year mandate. ThePresident andtheBoard members striking offdecisionsmadeby theBoards oftheOrdini territoriali. Administrative settlement ofappealsagainstmemberregistration and Legal Functions Promoting memberaccess to internationalisation andtools to enhance international relationships new skills,alsoconsidering theglobal market developments Consolidating theItalianProfession intraditional sectors anddeveloping by drawing upprofessional guidance documents Promoting professional improvement andspecialisationinitiatives, a viewto favouring professional development andimprovement activities Coordinating andpromoting the activity oftheBoards oftheOrdini territoriali ,with courses proposed by theOrdini territoriali Assessing andapproving thecontinuing andmandatory CPD Providing advice onbillsandlegislation concerning theProfession Designating itsrepresentatives innationalandinternational committees andorganisations Promoting therelations withinstitutionsandpublicentities Representing thewhole Profession atnationalandinternational level Representation andGuidance Functions theoperationsSupervising oftheOrdini territoriali membership fee Fixing Preparation oftheRules to dealwithpetitions Preparation ofElectoral Rules RulesAdoption ofDisciplinary Adoption oftheCode ofEthics Functions andSupervisory Regulatory CNDCEC FunctionsandPowers

5. Our Governance Structure 41 The Profession of Commercialista in Italy 42 The Assemblyconsists ofallRoll members. Itapproves theaccounts andelects They have a 4-year mandate, which cannot be renewed more than twice consecutively. the Board members. Members’ Assembly copies ofwritten advices onthepayoff ofprofessional fees any otherprovisions regulating theProfession profession, aswell asthereputation andindependence oftheOrdine special list,aswell asdutiesfor theissuance ofcertificates and Collecting theyearly fees for membership intheRoll orinthe Organising theoffices oftheOrdine andproviding to itsfinancialmanagement Issuing advices relating to thepayoff ofprofessional fees, upon Issuing certificates to theirmembers Promoting, organising,andregulating continuing andmandatory CPDfor Designating theitsrepresentatives inlocal committees, bodies,andorganisations Keeping theRoll, thespeciallist, registrations andstriking offs. Keeping theTrainees’ Register Regularly checkingthatallmembers fulfilthe relevant legal requirements Supervising theuseofqualificationsandlawfulSupervising practice ofthe complianceSupervising withtheprofessional rules and its members, thefulfilmentof training andsupervising obligations the requests ofitsmembers orof thePublicAdministration Settling thedisputes thatmay ariseamongtheregistered practitioners, when both parties seizeit,betweenwhen bothparties the practitioners andtheirclients Regulatory and Supervisory Functions andSupervisory Regulatory Functions andPowers ofTheOrdini territoriali Representation, andGuidance Functions Advisory Legal Functions The CouncilThe National Disciplinary (Consiglio didisciplina nazionale) hasbeen The new Professional provisions disciplinary of the disciplinary casesconcerningdisciplinary thepractitioners ontheRoll. Themembers of case concerningdisciplinary the Roll members. Hence, the separation of the of CNDCEC. established by the Board It is tasked of CNDCEC. with preparing and settling of theOrdini territoriali, andthey are tasked withpreparing andsettlingany on theprinciple oftheseparation bodies,and on the oftheir disciplinary points ofview. promoting andimplementing any initiative aimingatstudyingindepththe minimum sixmembers, selected amongthemembers oftheBoard ofCNDCEC. possibility to introduce “third –notregistered parties” withtheRoll –inlocal subjects pertaining tosubjects pertaining today’s profession, orthatmay concern itinthe future, or Its missionconsists inenhancingtheaccountancy profession through continuous Disciplinary Committees.Disciplinary Committees Disciplinary are setupby theBoards fulfil any administrative Board function.TheNationalDisciplinary consists of that may to beancillary theProfession, from scientific, technical, andapplication training, technical, scientific,andcultural studies;identifyingspecialisations Boardthe NationalDisciplinary whoperform functionscannot disciplinary Council.the Disciplinary two (administrative functions isexplicitly anddisciplinary) provided for, as Disciplinary Functions Disciplinary Fondazione Nazionale deiCommercialisti (FNC) within theProfession; training Commercialisti Contabili andEsperti to be;hence, well as the incompatibility of the Ordine Director’s office with membership in Nationally Locally Fondazione Nazionale deiCommercialisti isthestudyandresearch institute Ordini territoriali are based

5. Our Governance Structure 43 The Profession of Commercialista in Italy 44 – which envisage typical features ofboth foundations and associations – provide Today, The FNChasrecently adopted itslegal membership scheme.Thenewprovisions The FNC’sBylaws provide for variouscategories of“members”, namely consultancy services.Hence, we should askourselves: to whatextent are we changing nationalandinternational legal frameworks. Inourprofessional or thatintend to contribute to theimplementation ofspecificprojects falling endowment –assupporters, members, orelse,thuscontributing to theFNC’s Auditors. Regardless oftheircontribution to thefulfilmentofitsmission,both members and supporters have voting rightsattheAssembly. provided by Board, an Advisory and accounts are audited by a Board ofStatutory manage theFoundation. TheFNCismanaged by aBoard ofDirectors, chaired by natural persons, givingtheir contributions intheform offunds,orby providing associations, or multinational companies providing a wide variety of activity, we are confronted every day withtheprofessional standards and a Chairperson with representation andsigning powers. TheBoard ofDirectors socioeconomic situations of other Countries. This mostly happens through significantly contribute to thelife oftheFNCand to thefulfilmentof itsmission, supporters Due to thevital role itplays inkeeping theFNCalive anditscontribution to by fastchanges, regulatory transformation, technological progress, and has typicalmanagement, scientific,andpoliticalfunctions.General guidance is institutional members (membriistituzionali),members (partecipanti),and life andto thefulfilmentofitsmission. for thepossibilityfor other entitiesto join–after itsestablishmentand the companies we work for, whichoperate inforeign markets. Furthermore, title ofinstitutional member;members includelegal andnatural persons that the fulfilmentofitsmissions,Board ofCNDCEChasbeenattributed the we are facingthecompetition ofourforeign colleagues andprofessional work orservices, inaccordance withtherules establishedby thebodythatshall within theFNC’scompetences; lastly, supporters are publicorprivate legal or Membership inInternational Organisations Commercialisti Contabili andEsperti (sostenitori). practice inacontext characterised Therefore, over ininternational time,participating regulatory andstandard- organising ourselves? expansion ofCommercialisti, developing communication channels,and contribution at all stages of the preparation of Directives, Regulations, and Among ourmaingoals istheenhancement oftherole ofpractitioners as members. Theaforesaid provisions should beproperly interpreted, considered, aware ofsuchphenomena?Whatandhow muchdowe know? How are we and vocational qualificationassessment. and implemented, taking into account the ever-changing international trends Standards, especiallyintheareas ofAuditing, Reporting, Ethicaljudgements, setting processes hasbecome essentialto give theItalianprofession’s In accordance withitsinstitutionalmission,according to29ofthe Art. Professional Rules provided for by Legislative Decree n°139/05, theCNDCEC business internationalisation expertsand consultants, thusfavouring the is memberofvariousinternational organisations, wherein itrepresents its increasing for theopportunities interacting withforeign colleagues, inorder that affect allareas inwhichCommercialisti Contabili andEsperti operate. areas ofeconomics, businessmanagement, trade, law, mathematicsandstatistics Establishing, promoting, andfundingscholarships andscientific research grants inthe areas ofcompetence oftheCommercialisti and/or auditors registered withtherespective Rolls Promoting and/or inEU/national participating callsfor proposals for initiatives oractivitiesinthe statutory auditors, andauditors ofpubliclocal bodies,intheAuditing field andprofessional outsupport Carrying training activitiesfor Commercialisti, Promoting cultural events ingeneral, intheareas ofcompetence oftheaccountants products, theprofessional supporting practice; Promoting publishinginitiatives, includingaudio-visualsorcomputer Commercialisti, statutory auditors, andauditors ofpubliclocal bodies; Establishing training, refresher andspecialisationcourses andschoolsfor interest for Commercialisti andstatutory auditors ontheRoll Scientific research; surveys, dissemination ofinformation inthe areas of training Commercialisti andCommercialisti to be; Identifying specialisationswithintheaccountancy profession; Continuing technical, scientific,andcultural training ofCommercialisti; Enhancing theaccountancy profession asprovided for by Legislative Decree n°139/2005 3oftheBylaws) Functions ofFNC(Art.

5. Our Governance Structure 45 The Profession of Commercialista in Italy 46 The role ofthisOrganisationhasbecome crucial afterinto theentry force ofthe developing international standards. or temporary technical Committees, someofwhichare specificallytasked with enterprises (IFRS for SMEs),withtheactive ofCNDCEC. participation of theItalianProfession inthe newareas ofcompetence ofreporting,including public consultation, aswell asbudgeting andwork procedures. mandatory for listed companies’ financial statements and consolidated providing comments and remarks ondraft standards (socalled EDs, or auditing. IFAC’s technical andscientificactivityiscarriedout by itspermanent agenda, andplacingincreasing focus onsectors andactivitiesotherthan also intend to make theItalianexperience intheareas ofnon-profit reporting, financial statements (EC Reg. n°1606/2002). IASBhasalsodeveloped the Standards (IAS).CNDCEC participates intheIASB’sactivitiesby regularly social enterprise efficacy andefficiencyindicators, internationally known. IFAC’s Boards are tasked with developing international standards, and operate IFAC istheorganisationthatinternationally represents theprofession, atall IASB istheinternational organisationdeveloping International Financial International Financial Reporting Standard forInternational small and medium-sized Financial Our missionincludesshowing thattheItalianPractitioners meettop standards EU Regulation thatmadetheadoptionofInternational Accounting Standards Exposure Drafts). Reporting Standards (IFRS),previously called International Accounting By participating ininternationalBy participating activities,we aimatfavouring thedevelopment based onspecificRules, providing for the development ofa work plan, for in terms ofprofessional knowledge, protection ofpublicinterest, strategic integrated reporting, social,environmental, andsustainabilityreporting.We leadership, andpropensity to innovate. levels. CNDCEC’sstrategic objective consists insignificantly influencing IFAC’s (www.ifrs.org) than passively it. “suffering” to actively participateinthe globalisation ofprofessional relations –rather IFAC –International Federation ofAccountants IASB –International Accounting Standards Board – International PublicSector Accounting Standards Board (IPSAS), favouring the › › › › › › The organisationoperates bothglobally andEurope-wide, withInsolEurope, The organisationaimsatfavouring thesharingofknowledge intheareas of The following Boards are presently operational: IAASB – International Audit carries outthefollowing activities: and Assurance Standards Board; IESBA –International EthicsStandards Standards Board, developing standards on vocational training andeducation, shift to so-called accrual accounting. Board for Accountants, developing thecode ofethicsand,inparticular, both for entering theprofession andfor continuing vocational training; IPSASB of Restructuring, Insolvency &Bankruptcy independence-related principles; IAESB–International Accounting Education insolvency matters. include professional bodies,law firms,andpartnershipsspecialisedin insolvency, especially when they concern transnational issues. Its members (www.insol.org) (www.ifac.org) which places special focus onEUregulatory developments. Inparticular, it INSOL -International Association › › › › › › member professionals; Contributing to theeducationandtraining of memberprofessionals. Cooperating withINSOLInternational andothermemberorganisations; Defending theinterests ofmemberprofessionals withtherelevant EUand Promoting networking and the sharing of professional experience of Disseminating andincreasing thorough knowledge inthearea through international authorities,alsoofferingfrom support memberprofessionals international andregional congresses, publicationsfor members only Monitoring theevolution ofbankruptcy law, bankruptcy proceedings and for relevant projects; (eurofenix), andINSOLEurope’s web(eurofenix), site; the procedures adopted inEurope;

5. Our Governance Structure 47 The Profession of Commercialista in Italy 48 The International Integrated ReportingCouncil (IIRC) isaglobal coalition of development ofasetaccounting standards for micro enterprises (SMEGA established ItalianOIVOrganisation. of corporate reporting. Accounting.aspx All coalition members believe that communication about value creation asthe participation inthisareaparticipation isstrengthenedby membership inthepurposely- national standards, which are beingdeveloped inmany countries. TheItalian public interest, thusalsofavouring thedevelopment andharmonisationof next step intheevolution ofcorporate reporting. TheInternational Framework regulators, investors, companies, standard setters, the accounting profession, and itcooperates withIASB.Thegroup hasalsodesignedaproject for the and micro enterprises. umbrella).ISAR places special focus onfinancial andtransparency,reporting and NGOs. understandable andimplementable international standards, protecting In particular, ithasbeenworking onanaccounting standard project for SMEs Standards ofAccounting and Reporting) operates in the framework ofUNCTAD Level 3). Hence, ISAR’s work focuses onmicro, small, andmedium-sizedenterprises, ISAR (theIntergovernmental Working Group onInternational ofExperts London-based IVSC aimsatpromoting atransparent international has beenestablishedto meetsuchneedandlay thefoundations for thefuture ( (United NationsConference onTrade andDevelopment, setupundertheUN (www.theiirc.org) valuation standard-setting process. It therefore intends to develop a set of (www.theiirc.org) with a view to improving the reliability and comparability of corporate accounts. UNCTAD ISAR -Intergovernmental Working on Group ofExperts International Standards ofAccounting andReporting IIRC- International Integrated Committee Reporting IVSC -International Valuation Standards Council http://unctad.org/en/pages/DIAE/ISAR/ISAR-Corporate-Transparency- ) › › › › The CFE(Confédération Européenne) wasfounded in1959andtoday Fiscale of interest to theprofession (includingethics,professional rules, taxation, of theEuropean Commission andallotherEUinstitutions.FEEcovers allareas embraces 32nationalorganisationsfrom 25European States, representing professional position, to bejointlycommunicated to the EU Commission, with more than180,000tax advisers. CFEconsiders itsfunctionsto be: accounting, auditing,environment, andsustainability). structure. Itforesees aMembers’ Assembly–withrepresentation andpolicy guidance authority–andaBoard composed ofrepresentatives from various FEE hasreviewed itsConstitution andsince 2014itworks withanewgovernance Furthermore, itcontributes to thedefinitionofa common European inFEE’sactivities,CNDCEC cangiveBy participating its active contribution Countries, basedonageopolitical significance andbudget-based ranking. FEE represents theaccountancy profession, andisarecognised interlocutor behalf of our Nation–after fruitful exchanges ofviewswithotherCountries, so CFE (Confédération Européenne) Fiscale its maininterest beingthatofdefiningand expressing European professional formulating itsremarks andcomments directly to theEUCommission –on (www.cfe-eutax.org) to better defineand express theaccountancy profession’s requests. to theshapingofEUlegislation andpoliciesconcerning theProfession, by (European Accountants Federation) FEE –Fédération Comptables desExperts Européens › › › › contribution offered by professionals thanksto theirexperience ofalltechnical particular toparticular achieve theprotection ofeachnationaltax adviser’stitle inEurope advisers, andmakingtheirservicesknown to thegeneral public; areas; Safeguarding theprofessional interests oftax advisers andmaintainrelations Contributing reaching high quality standards in the professional practice of tax Promoting the co-ordination ofnationallaws governing theprofession, andin Monitoring nationaltax laws andcontributing to coordinate tax law inEurope; with theauthoritiesatnationalandinternational levels, showing the

5. Our Governance Structure 49 The Profession of Commercialista in Italy 50 › › › › › › › Through itsRegulations, theEuropean Commission adoptstheIFRSs,thus The EU legislation covers all areas of the economy, including professions, due making thembindingfor theEuropean UnionMember States. TheEuropean parties. FEE’smainareasparties. ofinterest include: profession andcompetition policieswithintheprofession itselfandwiththird needs andrequests inthebestpossible manner, bothto theEUinstitutions aiming at “Europeanising” them. aiming at“Europeanising” and to theInternational Organisations. IFRSs, andwas tasked withproviding input into thedevelopment ofIFRSs EFRAG isaprivate entity, advisory financed by variousactors involved and Commission participates inEFRAG’s activitiesasanobserver. EFRAG wasestablishedin2001,theframework ofEurope’s adoptionofthe interested intheoperations ofthefinancial markets. Amongsaidactors are: issued by theIASB,andsubmittingto theEuropean Commission proposals (www.fee.be) to theservicesthey provide to businessesandcompanies, andto regulate the EFRAG - European Financial Reporting Advisory Group EFRAG Advisory Reporting -European Financial › › › › › › › – feasibility study, impact,andshiftfrom cashaccounting to accrual Taxation –in-depthstudyoftopics related to competing legislations, tax Anti-money laundering andfightagainst corruption. abuse, common consolidation grounds, andtheEuropean Taxpayer’s and combination ofdifferent services(EU Regulation n°537/2014 and accounting; SMEs –credit, SMEassurance andreporting systems; Implementation ofthenewaccountancy Directive (Directive 2013/34/EU); FEE (European Accountants Federation); Public Sector accounting andreporting, following Eurostat’s proposal Charter; Directive 2014/56/EU); implementation ofthenewDirective and Regulation onstatutory auditing, with particular focuswith particular ontheprovisions concerning independence, reporting, › › › › › › › Therefore, CNDCEC’s comments on IFRScanbe transmitted to organisations at The CNDCECisrepresented through FEE,andthrough thislatter it andtheOIC, contributes to finance EFRAG. multiple reviews. activity mainlyfocuses ontheareas ofaccountancy andauditing,withspecial sized professional practices (SMPs). EFAA isnow reviewing itsBylaws, andits governance interno, oggetto dilunghetrattative, documentierivisitazioni. In queste settimane siconcretizzerà ilpassaggioalnuovo sistema di Over the next few weeks, the newgovernance system shall fully enter into Europe, gatheringEuropean organisationsdealingwithSmallandmedium- EFAA is the second Federation representing the accountancy profession in force, recently approved after long negotiations, many documents,and focus onSmallandmedium-sizedpractices. (www.efaa.com) (www.efrag.org) various levels: EFAA –European Federation ofAccountant andAuditors for SMES › › › › › › › The European SMEs(UEAPME). The stock exchanges; The Associationsrepresenting European banks,insurance companies, and The Associationrepresenting European Industrialcompanies (UNICE); At a European level, to EFRAG and to FEE’s Accounting Committee, which At aninternational level, directly to IASB,whichdevelops theprinciples reporting standards (OICfor Italy); financial analysts; Commission. National bodiesandinstitutionstasked withdeveloping nationalfinancial formulates asingle comment to besentto theIASBorto theEuropean the CNDCECisasked to comment;

5. Our Governance Structure 51 The Profession of Commercialista in Italy 52 The Association’smainactivitiesare thedisseminationofcorporate governance The ECGI isaninternational scientificorganisation establishedin2002and The LatinEurope-America Integration Committee wassetupwithaviewto discuss relevant corporate governance topics. establishing theProfession’s Latinmodel. Among itsmaingoals, sharingprofessional values,exchanging information, research studies.Amongitsmembers are universities, academicians, making aforum available to academicians,legislators, andprofessionals to accountancy professional organisations,banks,multinationalcompanies, stock exchanges, and rating agencies. It gathers all Mediterranean institutes, whichoperate inMediterranean Countries. FCM mainpurposesincludesharingprofessional valuesandgetting to know Countries sharing common cultural andeconomic contexts, aswell assimilar FCM isanAssociationwhoseestablishmentwaspromoted by anItalianinitiative. Countries. business environments. based inBelgium.Itaimsatpromoting thedevelopment ofbestpractices, by keeping up-to-date oncommon interest topics and,mostimportantly, background, andgathers Central-South AmericanandSouthernEuropean bringing into contact professionals whosecommon denominator istheirLatin CILEA –TheLatinEurope-America Integration Committee (www.ecgi.org) (www.fcmweb.org) the technical and scientific contexts wherein professional operate inother (www.cilea.info) (Mediterranean Accountants Federation) FCM –Fédération Comptables des Experts Mediterranééns ECGI -TheEuropean Corporate Governance Institute The A4S Accounting Bodies network – a network that consists of major global Today, itsmembership includes:Italy, India,Ireland, Israel, SouthAfrica. The The Group meets whenIFSC’sBoard holds itsmeetings,andmainlyaims This informal group wasset upin2001withinIFAC, andgathers organisations development andintheprofessional careers offuture generations. Itworks contribute changingthefundamentalprinciples ofsocial andeconomic life, Accounting for Sustainabilityisaninternational network thatwishesto Accountants. residence ofitsfounder, HRHthePrince ofWales. professionals, whoaccount for sometwo thirds ofallworld professional promoting the creation of an IFAC Commission for SMEs and SMPs, which has mainly representing small and medium-sizedpractices (SMPs). Itaimedat accountants. Itsmaingoal isincludingthenewperspective ofvalueassessment area, thusavoiding any overlapping andwaste. accounting bodies–isitsmainbody. Itsmembers meetto joineffortsinthis approach, based onvaluecreation. at influencingIFAC’s agenda, by drawing attention onthemesofparticular the Groupactually been established and is called In 2004, adopted SMPC. a It wasestablishedin2008and,today, consists of more than 2million Certified General Accountants’ AssociationofCanada represents Canada, by shiftingfrom anapproach basedonmere short-term profit, to a long-term bodies-network interest for SMEs. A4S -Accounting For Sustainability formal Constitution. ( (accounting for sustainability) approach in continuous professional (www.edinburgh-group.org) with majorglobal CFOs andinvertors, andmeetsatleast once ayear, atthe while Great Britainisrepresented by the Association of Certified Chartered EG -EdinburghGroup www.accountingforsustainability.org/international_network/accounting- )

5. Our Governance Structure 53 The Profession of Commercialista in Italy 54 The Project does notenvisage the“creation” ofanewinternational qualification The Project aimsatdefiningtheeducationandtraining standards for those definition ofnation-specific contents toeach Country. on professional qualifications,thus formally facilitatingthefree movement qualification, eachprofessional shallhave theopportunity to obtainan on top ofnational ones;itrather fixes aminimumharmonisation level and outcomes have beendeveloped for entry-level professional accountants, to professionals. Thisshallalsomake expressing technical opinionsinthe and recognition ofqualificationsinEurope. allows makingthequalificationsobtainedindifferent Countries more and training areas thatare notcommon to bothsystems. additional qualificationfrom another Country, by only covering theeducation a recognition procedure streamlining mechanism.Besideshis/hernational and the CCP works on the identification of common knowledge, leaving the Harmonising educationandtraining andcreating common partially knowledge Five maintechnical areasFive have beenidentified, basedonwhich learning be shared by today’s eightmemberinstitutes. Common Content Project Meeting suchstandards isnecessary to practice inthenewglobal scenario, foundations can alsobelaidfor theplatform envisaged by thenewDirective frame ofany professional qualification recognition procedure easier. The (www.commoncontent.com) transparent andeasierto compare, thusfacilitatingthefree movement of who wishto enter theProfession.

6 The FNCregularly carriesoutstudiesontheaccountancy profession inorder to 27 areas ofspecialisationhave beendirectly monitored by through FNC, data show that practitioners are stillmainlyfocusing ontheircore business, Contabili Commercialisti evolution andthelocal context. criminal law andcriminalprocedure, labourlaw, aswell asothercrucialareas corporate law, administrative law, civil law andcivil procedure, industrial law, closely related to accountancy and taxation, are legal specialisations including As at January 1st2015,thereAs atJanuary were 116,245Italianaccountancy practitioners, members account for 15%. In 2015, 92,345 people upto 40years ofage, 60%are aged between 41and60,while over 60 practitioners multi-sidedprofessionals, often holding multiple qualifications topertaining theirestablishment,lives, anddeaths.Thismakes accountancy public-law entities,ornon-profit organisations.They dealwithallaspects monitor its evolution, as it is significantly influenced bymarket changes. Recent and thisfigure shows a1% yearly increase. 41%ofCommercialisti andEsperti and businessmanagement consultancy. and management fields. and specialisationsintax, business,bankruptcy, labourlaw, public,financial, are registered withtheNationalProvident FundofCommercialisti South. Women account for 31%,while 69%are men.25%ofthemare young Key Figures small andmedium-sizedenterprises. However, significantdiversification special statisticalsurveys. Amongsuchareas ofspecialisation,besidesthose Esperto contabile every 523inhabitants. National Provident FundofRagionieri . InItaly, there is1Commercialista businesses operating inItaly, includingfamily-runbusinesses,companies, is alsoshown, whichisdueto thecontinuous interaction between market for the Italian economy such as brokering, real-estate consultancy, the third (or voluntary)sector, third-party liabilityandinsurance, management control, that is,accountancy andtax advice services,whichare mainlyprovided to works Italy, inNorthern 22%incentral regions, and37%inthe and Esperti ContabiliEsperti andprovide support advice to all Commercialisti and

6. Key Figures ContabiliEsperti 57 and the or

6. Key Figures 57 The Profession of Commercialista in Italy 58 * Data as at January 1 * Data asatJanuary Years Tab. 1Members andPractitioners registered withtheCommercialisti Pension Funds- 2008 2015 2014 2013 2012 2011 2010 2009 Years 2008-2015*

members ofnationaland/or international professional networks. Inparticular, practice, but many of them have shared practices or partnerships, and are practice, 21%share theiroffice withotheraccountancy practitioners, and22% 53% ofCommercialisti Most accountancy practitioners prefer settingup theirown independent work inapartnership (firm),while 4%chose non-organised work.  . . . . . . 107.499 116.245 115.067 114.041 113.235 112.164 110.787 109.474 Members  Roll Registered Practitioners st ofeachyear  -- and 1,0% 1,0% 1,2% 1,2% 1,8% 0,9% 0,7% Growth Rate Esperti ContabiliEsperti have theirown independent    78.601 92.345 89.970 88.628 86.965 84.721 82.658 80.759 Registered Practitioners Pension Fund   Pension FundRegistered Practitioners     1,5% 1,9% 2,6% 2,6% 2,5% 2,4% 2,8% Growth Rate  Tab. 2Commercialisti by geographical regions. Year 2014 CENTRE SOUTH (MAINLAND) SOUTH ITALY ISLANDS NORTH-WEST NORTH-EAST NORTH REGIONS , , , , , , , 15,4% 100,0% 40,9% 9,1% 28,5% 21,5% 25,5% 37,6% Percentage %ontotal Islands South (Mainland) South Centre North-East North-West North

6. Key Figures 59 The Profession of Commercialista in Italy 60 TRENTINO ALTO ADIGE TUSCANY APULIA ABRUZZO CENTRE CAMPANIA CALABRIA SICILY SOUTH (MAINLAND) SOUTH SARDINIA VENETO VALLE D'AOSTA ITALY ISLANDS NORTH-EAST NORTH-WEST NORTH LIGURIA LOMBARDY EMILIA ROMAGNA LAZIO FRIULI VENEZIAGIULIA BASILICATA PIEDMONT REGIONS UMBRIA MOLISE MARCHE Tab. 3GenderandageoftheMembers oftheOrdine territoriale. Year 2014 70,0% 68,8% 62,0% 66,8% 68,9% 66,9% 60,7% 68,4% 62,8% 62,8% 70,9% 66,3% 66,3% 66,3% 66,5% 64,9% 70,4% 70,4% 69,5% 69,5% 69,5% 64,4% 73,6% 61,9% 67,9% 75,4% 68,1% 74,3% Men Women 30,0% 38,0% 30,5% 30,5% 30,5% 29,6% 29,6% 26,4% 24,6% 35,6% 39,3% 33,2% 33,5% 31,6% 33,7% 33,7% 33,7% 25,7% 31,9% 31,2% 37,2% 37,2% 38,1% 29,1% 33,1% 32,1% 35,1% 31,1% 18,0% 19,0% 22,0% 23,0% 15,0% 20,3% 20,5% 26,8% 16,6% 16,9% 22,8% 24,6% 24,6% 21,0% 19,5% 23,2% 23,4% 22,4% 23,2% 22,5% 22,5% 17,9% 21,4% 21,2% 21,3% 21,3% 19,1% 27,7% ≤ 40 60,8% 60,6% 64,0% 66,8% 63,0% 62,8% 66,4% 66,3% 65,6% 64,9% 65,9% 63,9% 63,9% 41-60 64,4% 66,7% 67,0% 65,2% 65,2% 56,6% 61,8% 59,6% 67,9% 61,2% 67,4% 67,2% 63,1% 61,1% 59,1% 18,0% 10,5% 13,8% 15,8% 13,6% 18,3% 14,6% 16,5% 12,6% 15,6% 15,6% 14,9% 15,9% 19,4% 12,2% 14,3% 15,2% 16,7% 12,5% 15,3% 15,3% 11,6% 11,2% 11,5% 17,5% 18,1% 17,1% 9,8% > 60 Tab. 4Local Commercialisti to population ratios. Year 2014 TRENTINO ALTO ADIGE TUSCANY ABRUZZO APULIA CAMPANIA CALABRIA CENTRE SOUTH (MAINLAND) SOUTH SICILY SARDINIA VENETO VALLE D'AOSTA ITALY ISLANDS LOMBARDY LIGURIA LAZIO FRIULI VENEZIAGIULIA EMILIA ROMAGNA BASILICATA REGIONS PIEDMONT NORTH-WEST NORTH-EAST NORTH UMBRIA MOLISE MARCHE 433 644 422 453 418 685 644 641 427 479 482 653 623 400 718 718 798 841 501 514 578 526 595 549 523 544 585 596 per Commercialista N° ofinhabitants                     

6. Key Figures 61 The Profession of Commercialista in Italy 62 Third-party liabilityandinsurance Taxation andinternational trade Tax concession advice Tax litigations Tax advice occupational safety and Administration Administrative law Other Accountancy, accounts, andreview. Corporate law Civil law and civilprocedure Contracts Criminal law andcriminalprocedure Business management Healthcare Brokerage Leasing, jointownership, andtrading, Hygiene, medicine,and Bankruptcy andbankruptcy proceedings Finance andmanagement controlFinance Contracts, building andtown planning, Industrial law Local PublicInstitutions Family Law Marketing andcommunication Labour law consultancy Environment Human Resource Management Voluntary Sector Subjects Tab. 5Professional activity:areas ofspecialisation 40,2% 89,5% 14,6% 22,3% 52,9% 25,3% 14,7% 12,7% 20,1% 25,7% 11,4% 92,1% 17,7% 0,8% 0,9% 1,0% 0,7% 1,9% 2,9% 4,2% 3,2% 3,2% 3,5% 9,7% 7,6% 1,1% 1,1% 5,1% F Gender 38,0% 92,0% 66,9% 16,9% 24,6% 15,6% 15,8% 24,9% 19,3% 25,2% 26,7% 21,3% 56,1% 91,1% 4,0% 9,0% 6,9% 8,2% 6,5% 1,6% 1,9% 4,5% 1,3% 2,3% 1,3% 1,3% 1,7% 4,1% M 10,4% 20,2% 28,6% 63,9% 91,0% 14,6% 13,6% 32,9% 47,0% 23,5% 12,3% 22,7% 91,7% 21,1% 0,8% 0,9% 8,8% 2,0% 0,7% 5,0% 6,3% 3,6% 2,5% 2,2% 7,8% 4,7% 1,1% 1,1% ≤40 Age Groups 20,0% 90,6% 16,6% 41-60 24,8% 18,4% 15,9% 92,5% 36,2% 62,7% 15,9% 23,4% 24,2% 22,3% 51,6% 6,2% 8,3% 1,9% 3,9% 1,2% 2,2% 1,2% 1,5% 3,7% 1,7% 5,7% 1,1% 3,1% 7,1% 60,8% 13,0% 88,4% 24,6% 22,9% 13,3% 23,3% 14,3% 24,3% 61,5% 21,6% 17,6% 37,9% 91,7% 11,3% 2,0% 1,0% 0,7% 0,7% 8,6% 8,6% 0,7% 8,3% 1,3% 5,6% 3,3% 1,7% 5,3% >60 62,8% 18,8% 90,7% 18,8% 14,8% 26,3% 23,3% 15,3% 34,4% 14,5% 92,1% 51,5% 24,1% 22,1% Total 4,0% 8,6% 4,2% 1,2% 2,2% 1,5% 1,2% 1,3% 3,7% 5,5% 1,7% 7,3% 6,1% 1,1% Tab. 6Type ofPractice Type ofPractice Independent Independent andshared Not organised Firms (partnerships) Firms 18,9% 53,9% 21,4% 5,9% F Gender 20,7% 52,5% 23,1% 3,8% M 40,9% 29,0% 24,3% 5,9% ≤40 Age Groups 41-60 56,4% 18,7% 21,3% 3,7% 19,3% 14,3% 61,1% 5,3% >60 20,9% 52,9% 21,8% Total 4,4%

6. Key Figures 63

Territorial Bodies Territoriale Territoriale (Ordini Territoriali) VALLE D’AOSTA Antonio Passantino Alberto Carrara Gian Alberto Mangiante Ermanno Werthhammer LOMBARDY LIGURIA Michele Giovinazzo Mario Tagliaferri Massimo Scotton Sandro Litigio Aosta’s Ordine Territoriale Ordine Territoriale Ordine Territoriale Ordine Territoriale Genova’s Ordine Chiavari’s Ordine Crema’s Ordine Territoriale Como’s Ordine Territoriale Brescia’s Busto Arsizio’s Bergamo’s Territoriale Territoriale Territoriale Territoriale Alessandro Angelo Solidoro Alberto Funaro Antonio Rocca Gilberto Gelosa Domenico Abbo Emilio Bruschi Ernesto Quinto Stefano Ficarelli Ordine Territoriale Cremona’s Ordine Imperia’s Ordine La Spezia’sOrdine Lodi’s Ordine Territoriale Lecco’s Ordine Territoriale Monza eBrianza’s Milano’s Ordine Territoriale Mantova’s Ordine Territoriale Territoriale Territoriale Territoriale Alberto Baietto Giuseppe LaRocca Giuseppe Nicolò Paola Gargaschelli Francesco Grimaldi Fabio DelGiudice Sergio Caramella Savona’s Sanremo’s Ordine Sondrio’s Ordine Voghera’s Ordine Vigevano’s Ordine Varese’s Ordine Territoriale Pavia’s Ordine Territoriale

Territorial Bodies 65 Ordine Territoriale

Territorial Bodies 65 The Profession of Commercialista in Italy 66 TRENTINO ALTO ADIGE Territoriale Territoriale Territoriale Territoriale VENETO Angelo Lapovich Angelo Dabbene Angelo Smaniotto Amedeo Busnardo Nicola Gaiero Domenico Calvelli Roberto Malvezzi Dante Carolo Richard Burchia FRIULI VENEZIAGIULIA PIEDMONT Asti’s Ordine Territoriale Alessandria’s Ordine Ordine Territoriale Cuneo’s Ordine Territoriale Gorizia’s Ordine Territoriale Biella’s Ordine Territoriale Padova’s Ordine Belluno’s Ordine Bassano delGrappa’s Bolzano’s Ordine Territoriale Territoriale Territoriale Territoriale Treviso’s Ordine Territoriale Trento eRovereto’s Ordine Torino’s Ordine Territoriale Aldo Milanese Gabriele Andreola Renato Cinelli Michele Ghirardini Maurizio Postal Mauro Nicola Severino Scagliotti Vittorio Raccamari Casale Monferrato’s Ordine Venezia’s Ordine Pordenone’s Ordine Rovigo’s Ordine Territoriale Novara’s Ordine Territoriale Territoriale Territoriale Territoriale Territoriale Trieste’s Ordine Territoriale Alberto Mion Tortona’s Ordine Piergiorgio Renier Lorenzo Sirch Paola Balzarini Pietro Ratti Marco Poggi Stefano Pugno Vicenza’s Ordine Verona’s Ordine Territoriale Vercelli’s Ordine Verbania’s Ordine Udine’s Ordine Territoriale TUSCANY Territoriale Territoriale Territoriale Aride Missiroli Gino Mazzi Giovanni Verugi Fabio Battaglia Paolo Rollo UMBRIA Marcella Galvani EMILIA ROMAGNA Mariano Cesari Mario Morandini Mirella Bompadre Stefano Coppola Ascoli Piceno’s Ancona’s Arezzo’s Ordine Territoriale Ordine Territoriale Ordine Territoriale Grosseto’s Ordine MARCHE Firenze’s Firenze’s Bologna’s Ordine Perugia eSpoleto’s Livorno’s Ordine Forlì’s Ordine Territoriale Ferrara’s Ordine Territoriale Ordine Territoriale Ordine Territoriale Territoriale Territoriale Territoriale Territoriale Terni’s Ordine Territoriale Angelo Anedda Alessandro Clò Giancarlo Vittori Giorgio Piergiacomi Carleugenio Lopedote Carla Saccardi Roberto Piersantini Fabio Bascherini Maurizio Masini Marco Cannella Ordine Territoriale Pisa’s Ordine Territoriale Fermo’s Ordine Territoriale Piacenza’s Ordine Parma’s Ordine Territoriale Lucca’s Ordine Territoriale Macerata eCamerino’s Montepulciano’s Ordine Massa Carrara’s Ordine Modena’s Ordine Territoriale Paolo Biancalani Franco Michelotti Paolo Balestieri Bruno Piccioni Bruno Bartoli Damiano Berti Marco Tanini Ordine Territoriale Ordine Territoriale Siena’s Ordine Territoriale Prato’s Ordine Territoriale Pistoia’s Ordine Territoriale Pesaro eUrbino’s Rimini’s Ordine Territoriale Reggio Emilia’s Ravenna’s Ordine

Territorial Bodies 67 The Profession of Commercialista in Italy 68 Territoriale Territoriale Territoriale Territoriale Territoriale Territoriale Territoriale ABRUZZO CAMPANIA Agostino Barbati Giovanni Cuomo Giuseppe Tedesco Pietro Raucci Francesco Tedesco Ermando Bozza Rosa Filippo LAZIO Massimo Ferri Vincenzo Moretta Avellino’s Ordine Avezzano’s Ordine Caserta’s Ordine Caserta’s Civitavecchia’s Ordine Cassino’s Ordine Chieti’s Ordine Territoriale Napoli’s Ordine Territoriale Benevento’s Ordine Lanciano’s Ordine Territoriale Territoriale Territoriale Territoriale Territoriale Territoriale Antonio Tuccillo Teramo’s Alberto Davide Americo DiBenedetto Giovanni Prisco Gaetano Romanelli Rosario D’Angelo Pier LuigiCoccia Efrem Romagnoli Domenico DiMichele Umberto Lombardi Sala Consilina’s Ordine Nola’s Ordine Territoriale Nocera Inferiore’s Ordine Napoli Nord’s Ordine Rieti’s Ordine Territoriale Latina’s Ordine Territoriale Frosinone’s Ordine Pescara’s Ordine L’Aquila’s Ordine Ordine Territoriale Territoriale Territoriale Torre Annunziata’s Tivoli’s OrdineTivoli’s Territoriale Oscar DeFranciscis Gianluca Tartaro Giuseppe Condorelli Paolo Giugliano Francesco Pietrocola Mario Civetta Marco Santoni Ordine Territoriale Ordine Territoriale Salerno’s Ordine Viterbo’s Ordine Vallo dellaLucania’s Vasto’s Ordine Territoriale Roma’s Ordine Territoriale Territoriale Territoriale Territoriale APULIA Carmine Franco D’Abate Giuseppe Mameli Fabio Giovanni Aiello Eustachio Quintano Marcello Danisi BASILICATA Marco Ferri SARDINIA Cagliari’s Ordine Campobasso’s Ordine MOLISE Brindisi’s Ordine Bari’s Ordine Territoriale Nuoro’s Ordine Territoriale Matera’s Ordine Territoriale Territoriale Antonio Cutulo Antonio Borrelli Giuseppe Laurino Rosario GiorgioCosta Remigio Enrico MariaSequi Mario Cardillo Marco Balata Ordine Territoriale Oristano’s Ordine Olbia eTempio Pausania’s Isernia’s Ordine Territoriale Lucera’s Ordine Territoriale Lecce’s Ordine Territoriale Foggia’s Ordine Territoriale Melfi’s Ordine Territoriale Territoriale Territoriale Trani’s Ordine Territoriale Taranto’s Ordine Antonio Soldani Cosimo Damiano Latorre Luigi Vergari Liliana Smargiassi Pietro Scudino Sassari’s Potenza’s Ordine Larino’s Ordine Territoriale Ordine Territoriale

Territorial Bodies 69 The Profession of Commercialista in Italy 70 Territoriale Territoriale Territoriale Territoriale Territoriale Territoriale Territoriale CALABRIA Antonio Truglio Andrea Manna Giovanni Genovese Ignazio LaPorta Ettore Cataldo Francesco Muraca SICILY Mario Angelo Straticò Salvatore MaurizioDilena Sebastiano Umberto Agrigento’s Ordine Ordine Territoriale Caltanissetta’s Ordine Caltagirone’s Ordine Castrovillari’s Ordine Catania’s Ordine Cosenza’s Ordine Catanzaro’s Ordine Barcellona Pozzo diGotto’s Territoriale Territoriale Territoriale Territoriale Andrea Maggio Alberto Scuderi Giuseppe Nicoletti Giuseppe Sofrè Fabrizio Escheri Enrico Spicuzza Ettore Lacopo Paolo Cosentino Luigi Domenico Arcuri Michelangelo Montesano Ordine Territoriale Gela’s Ordine Territoriale Crotone’s Ordine Palermo’s Ordine Nicosia’s Enna’s Ordine Territoriale Palmi’s Ordine Territoriale Locri’s Ordine Territoriale Lamezia Terme’s Messina’s Ordine Marsala’s Ordine Ordine Territoriale Territoriale Territoriale Territoriale Trapani’s Ordine Antonio Sidoti Carlo Plastina Daniele Manenti Bernardo Femia Pasqualino Saragò Massimo Conigliaro Mario Sugameli Vincenzo Morelli Ordine Territoriale Ordine Territoriale Siracusa’s Ordine Vibo Valentia’s Ragusa’s Patti’s Ordine Territoriale Rossano’s Ordine Reggio Calabria’s Paola’s Ordine Territoriale Ordine Territoriale Edited by Fondazione Nazionale dei Commercialisti

With the contribution of Cristina Bauco, Annalisa De Vivo, Tommaso Di Nardo, Noemi Di Segni

Graphic design Martino Palladini

                     

ISBN 978-88-99517-01-4

Consiglio Nazionale English Version dei Dottori Commercialisti e degli Esperti Contabili 9 788899 517014