| CNDCE | |
|---|---|
| Membership | Mandatory |
| No. of members | 118,987 |
| Institute staff | 50 |
| Date of establishment | 1953 |
| Local branches | 131 territorial chapters coordinated and supervised by CNDCEC |
| Subject to public oversight | Yes |
| Public oversight authority | Ministry of Justice |
| Involvement in Qualification and Market Access | CNDCEC |
|---|---|
| Initial education | Involved in the definition of the university courses and combined training courses |
| Examination | Member of the examination commission |
| Approval and registration | Yes (the registration of accountants, RGS holds the register for auditors) |
| Continued Professional Development | Yes |
| Activities | CNDCEC |
|---|---|
| Standard setting | Yes |
| Quality assurance | Yes, Compliance oversight on CNDCEC members (Quality assurance by CONSOB for PIE auditors and RGS for non-PIE auditors) |
| Disciplinary measures | Yes (only for accountants, CONSOB for PIE auditors and RGS for non-PIE auditors) |
| Professions | Accounting expert (Esperto contabile, Section B) | Chartered Accountant (Dottore commercialista, Section A) | Statutory auditor (Revisore legale dei conti) |
|---|---|---|---|
| Professional body | CNDCEC | CNDCEC | N/A (not a separate profession) |
| Protected title | Yes | Yes | Yes |
| Reserved activities | No | No | Statutory audit Member of collegio sindacale that carries out also audit of financial statements |
| Included authorisations | § business administration, § corporate law, § finance, and § taxation, thus, including the following activities or roles: § administration and winding up of companies and entrusted assets, § expert witness, § member of collegio sindacale (only if they are registered in the auditors’ register), i.e. an independent professional supervisory board, regulated by Italian company law, which includes professional auditors among its members § accounting services, § tax filing, § companies’ acts, such as the preparation of memorandum of association § extraordinary operations, i.e. transfer of shares, mergers, divisions, contributions § due diligence in extraordinary transactions, advisory services, voluntary disclosure, labour consultancy and contracts, as well as administrative matters, such as providing assistance when filing authorization to start business activities § tax assurance services, § audit of financial statements and related services (not statutory audit as defined by the EU Statutory Audit Directive), § depository of formal documents with electronic signature. | All same activities as accounting experts. Additionally, under their direct responsibility, members can perform the additional following services, which are characterised by the underlying high public interest, and namely: § audit and assurance engagement for access to public or community funds; § business evaluations; § legal assistance before tax courts (in first instance and appeal); § insolvency engagements from public or judicial authorities; § financial analysis related to listed companies; § capital adequacy evaluation for non- profit entities; § executive and judiciary sales; § management consulting for public entities; § business plan certification for access to public funds; § monitoring and tutorship for public funds granted to enterprises; and § sustainability reports and EMAS verifier. Chartered accountants can be members of collegio sindacale even if they are not registered in the official auditors’ register. |
| Accounting expert | Chartered Accountant | Statutory auditor | |
|---|---|---|---|
| Regulated profession | Yes | Yes | Yes |
| Supervision | Yes | Yes | Yes |
| Public oversight authority | Territorial chapter of CNDCEC Ministry of Justice | Territorial chapter of CNDCEC Ministry of Justice | Ministry of Finance |
| Accounting expert | Chartered Accountant | Statutory auditor | |
|---|---|---|---|
| General initial education steps (without possible exemptions) | • 3 years bachelor’s degree (economy) • 8 months training State exam | • 5 years master’s degree (economy) • 18-month training State exam | There are two routes to obtain the qualification of statutory auditor: Option 1: • First qualify as Chartered accountant or Accounting expert • Complete 1.5 years training period • Partially exempted from the MoF examination but must pass an additional test concerning only audit issues Option 2: • 3 years bachelor’s degree (economy) • 3 years training • Pass examination organised by the MoF Final step for both routes: • Register as a statutory auditor at the MoF |
| Accounting expert | Chartered Accountant | Statutory auditor | |
|---|---|---|---|
| No. of qualified professionals | 1,298 | 114,370 | Total 135,878 Active members 42,874 |
| No. of new trainees per year | Information not available | 13,751 | 7,777 |
| No. of people taking the professional examination | Information not available | Information not available (examination done by several universities) | 462 |
| No. of people passing the professional examination | Information not available | 306 (new members in 2018) | 44 |
| Accounting expert | Chartered Accountant | Statutory auditor | |
|---|---|---|---|
| Registration required | Yes | Yes | Yes |
| Competent authority for registration | Territorial chapters of CNDCEC | Territorial chapters of CNDCEC | Ministry of Economics and Finance |
| Cost of appointment/ registration | €350 (average) | €350 (average) | €25 |
| Oath required | No | No | No |
| Insurance required | Yes | Yes | Yes |
| Professional address required | Yes, residency or professional domicile in Italy | Yes, residency or professional domicile in Italy | Yes, residency or professional domicile in Italy |