Statutory Audit in Milan

The statutory audit is an activity aimed at acquiring all the necessary elements to allow the auditor to express, with reasonable certainty, that the financial statements are prepared in accordance with the applicable regulatory framework. The auditor has the responsibility of expressing an independent professional judgment on the financial statements prepared by the directors.

Genise Studio, a firm of chartered accountants in Milan, provides a team of qualified legal auditors to ensure the accuracy, transparency, and compliance of company financial statements.

Statutory audit for public limited companies (SpA)

In Public Limited Companies (SpA) that adopt the traditional system, the statutory audit can be carried out by:

- an audit firm or a statutory auditor registered in the relevant register;

- in the cases provided for by Article 2409-bis of the Italian Civil Code, also by the Board of Statutory Auditors, if all members are statutory auditors.

👉 The appointment of the supervisory body is always mandatory for SpA (joint-stock companies).

Legal audit for LLCs (Limited Liability Companies)

For Limited Liability Companies (LLCs), the obligation to appoint a supervisory body or statutory auditor (Article 2477 of the Italian Civil Code) arises when the company:

- is required to prepare consolidated financial statements;

- controls a company subject to statutory audit;

- exceeds at least one of the following limits for two consecutive fiscal years:

• Total assets: €4 million;

• Revenue from sales and services: €4 million;

• Average number of employees: 20 units (ULA).

In such cases, the LLC may choose to appoint a sole auditor or a board of auditors with supervisory and auditing functions (if the members are statutory auditors), or to appoint a supervisory body and an auditor/audit firm separately.

👉 Genise Law Firm assists companies in evaluating the requirements and in the correct appointment of the supervisory body.

Due Diligence and Extraordinary Audit

Auditing is not only useful for legal obligations, but also as a tool for preventive analysis and protection in extraordinary transactions.

In particular, accounting due diligence is essential in the following cases:

- mergers and acquisitions (M&A);

- issuance of financial instruments (stocks, bonds);

- valuations of properties used as collateral for credit exposures;

- verifications in legal proceedings or sales transactions.

👉 Through due diligence, we collect and verify accounting and non-accounting data, providing an independent assessment of the true value of the company or transaction.

Why choose Studio Genise for legal review?

- Statutory auditors registered in the Register;

- Many years of experience in auditing ordinary and extraordinary financial statements;

- Comprehensive assistance: from the appointment of the supervisory body to the periodic review;

- Multidisciplinary support with accountants, lawyers and labor consultants;

- Transparent and independent approach, to ensure the credibility of company financial statements.

Contact us

Do you need an audit of your company's accounts or a due diligence review?

Call us at 02 29516089
Write us an email from the form. contacts
Book an appointment online, either in-person at the office or via video call.

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