Besonderheiten der Wirtschaftsprüfung in Italien (Particularities of auditing in Italy)

This study is based on a detailed analysis of the Italian audit regulation. It reveals a number of particularities of the Italian system and differences in comparison to Germany. In particular, two types of statutory audits are available for non-public interest entities. Audits can be performed either by an internal board of statutory auditors (collegio sindacale) or by an external auditor/audit firm. A further main characteristic of the Italian system is its long tradition of an external rotation of audit firms in conjunction with a triennial appointment of the statutory auditor. For the future, a convergence of the system has to be expected due to international and European influences.