Accounting in Italy - by Ettore Colella
The regulation of the Italian accounting profession has been completely reformed by the Legislative Decree 139/2005 which was enacted on June 28, 2005 and published in the Official Gazette of the Italian Republic of July 19, 2005.The Ministry of Justice supervises this profession at all levels.
The Italian accounting profession is organized into two levels:
* A basic level, also known as Section B: the applicants must achieve at least a three-year bachelor degree in Economics / Business Administration (Esperti Contabili)
* Section A: the applicants must hold a five-year MBA in Economics / Business Administration (Dottori Commercialisti, such as Ettore Colella - Commercialista Buccinasco, Milano)
Italian auditing and accountancy bodies
* National Council of Accountants and Chartered Accountants - Consiglio Nazionale Dottori Commercialisti e Esperti Contabili
* Italian Accounting Committee - Organismo Italiano di Contabilità
* Federation of European Accountants (FEE)
* Federation of Mediterranean Accountants (FCM)
Training and state examination
After graduation, the applicants must carry out a training period in a company for 3 years. They will be supervised during the training by a Dottore Commercialista or Esperto Contabile.
The state examination is structured as follows: one oral examination and three written.
Written examinations include technical subjects - accounting, auditing, business administration of industrial, commercial and financial sector, financial analysis and professional techniques, IT knowledge - and juridical themes: civil law, corporate law, insolvency procedures, tax law, labor law, procedural civil law.
Scope of activities
According to the Italian law, the accounting profession has a recognized competency in the following areas:
* business administration
* corporate law
* taxation, including:
* administration and winding up of companies and entrusted assets;
* expert witness;
* member of audit committees;
* accounting services;
* tax filing;
* tax assurance services;
* audit of financial statement and related services;
* depository of formal documents with electronic signature.
Only the members registered at Section A (Dottori Commercialisti) may provide::
* audit and assurance engagement for access to public or community funds;
* business evaluations;
* assistance and representation in tax matters;
* insolvency engagements from public or judicial authorities;
* financial analysis related to listed companies;
* capital adequacy evaluation;
* executive and judiciary sales;
* management consulting to public entities;
* business plan certification for access to public funds
Italian Accountancy Profession - Quiz
Italian Accounting Organizations and Companies
- Home Page | CNDCEC
National Council of Accountants and Chartered Accountants
- Accounting in Italy
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Italian Accounting Committee
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