Assirevi has introduced important news with the Documento di ricerca n. 240 of February 2017, compared to the previous 194 from 2016. The content of the representation letter has been revised according to the audit principles ISA Italia which states that this must always be request to the client at the end of each audit. Our company has promptly acknowledged the necessity of the changes and assimilations regarding the format in use before the emission of the cited document. It is important to keep in mind that the auditor has to verify the suitability of the representation letter requested to his/her clients. Therefore our partners can decide to include other assurances if they think that it is necessary.

For further information please consult the following link: http://www.assirevi.it/

The contents of the conference organized by REVI & Partners at Sharaton Hotel in Bolzano the 10/02/2017 were following: the new accounting principles OIC, the materiality of values and facts and the new financial fraud felony. A lot of executives, CFOs and accountants coming from well-known companies and professional firms took part to the convention. We reported the most important news about evaluation standards (discounting back, costs amortization, financial derivative instruments, costs for applied research and advertisement, impairment test). All these themes have been discussed and supported by practical examples which are part of a study of more than 150 pages. The speakers also focused their attention on the most important aspects regarding the new financial fraud felony by recalling the recent resolution from cassation court that clarified, differently from the past, how the financial fraud evaluation has not been replaced by the new regulations of the Civil Code. According to this, some deviations from specific evaluation criteria can still be a risk of criminal responsibility for the management. We offer the possibility to our clients, partners and colleagues to ask via email the dispatch of the study in question.

In case financial statements beginning the 1st of January 2016 and ending 31st December 2016, the implementation of the new regulations concerning the financial statement reform (dlgs 139/2015), according to the communication from CNDCEC 16/01/2016, can be one of the references to justify the approvement of the balance sheet from the shareholders meeting (without forgetting the reference to the statutory requirements as required by art. 2364 clause 2 c.c.)

REVI & Partners is available to help its clients in evaluating the impact of the retroactive implementation of the new evaluation criteria on the 2016 balance sheet which were prescribed by the civil code and the new OIC. REVI & Partners is also available to help its clients in case that there are solid premises for the postponement of the above-mentioned balance sheet from the board meeting within the maximum end of 180 days from the closing date of the fiscal year, instead of the usual 120 days.