In recent years, in Italy, the concept of timeliness in the detection of business crises has acquired ever greater importance, thanks also to the renewed discipline introduced, with the publication in 2019, of the Crisis and Insolvency Code. The new regulatory framework focuses on the importance of business management which must be implemented by the entrepreneur through an adequate administrative structure and early warning system indicators. To this end, relevant for the new approach, the obligation for all companies, including small Italian businesses, to introduce organizational, administrative and accounting structures suitable for effective and efficient management of the company. Particularly the legislator emphasizes the central role that must be played by the internal control system as a structure responsible for promptly capture signals of any imbalances in company management. This research aims, through a comparative approach, to demonstrate that the new regulatory provisions represent a contextualization of both themes already explored and shared by business economics scholars, of which numerous evidence can be found in the literature, and provisions contained in the frameworks relating to the standards for implementing the internal control systems envisaged by the CoSo Report. The legislator highlighted that the new Crisis and Insolvency Code is inspired by the classic business economics postulates referred to the organizational models, planning and control systems, risk management. Similarly, are evident references to the guidelines developed by the CoSo report frameworks for the implementation of the internal control system to protect adequate organizational models and risk management processes. From a comparative perspective, the research investigates the correlations between the elements of the internal control system provided for by international standards with the components of the organizational, administrative and accounting, structures suggested by the Code. In conclusion, the research demonstrates, also with the analysis of a case study, how the main innovations introduced by the Code, even and above all for those of smaller size, in equipping themselves with adequate organizational structures, implemented according to the principles of business economics, represent a further evolution and strengthening of the systemic and economic-unitary vision of the company consolidated for a long time by the most accredited economic-business doctrine. This study, however suffers some limitations that should be considered when interpreting the suggestions developed. Firstly because from comparisons carried out with other studies there are no similar ones, therefore the research provides an original and innovative interpretation of the new regulatory system established for Italian companies.
KEYWORDS: Internal Auditing, CoSo Report, Insolvency Crisis Code
Provasi R. (2024). La rilettura del Codice della Crisi secondo i postulati dell’economia aziendale e del CoSO Report. RIREA, 2, pp. 166-190. DOI: 10.17408/RIREARP050607082024
