Accountants, De Nuccio: “Changes to the crisis code are a fundamental turning point”

Accountants De Nuccio Changes to the crisis code are a

(Finance) – “The corrective decree of the Crisis Code approved today by the Council of Ministers, with which yes clarifies and improves the text of the 2019 legislative decree, represents a fundamental turning point for the full success of the code itself. The changes made to the text are extremely significantboth for the professional associations involved in managing the business crisis, and for the success of some new institutions envisaged by the Code”. This was stated by the president of accountants, Elbano de Nuccio.

The number one in the category, who is also a member of the permanent observatory on business crises established at the Ministry of Justice, underlines how “some of the innovations contained in the corrective decree are were strongly supported by the accountantswho worked in agreement with the National Bar Council, constantly discussing with the Minister Carlo Nordio and with the Deputy Minister Francesco Paolo Sisto, whom I thank for the attention shown towards the improvement proposals we have put forward”. The changes made to the text – adds – they will allow you to largely overcome important critical issues at the basis of the first season of the Code of the crisis”.

“Definitely appreciable” – according to de Nuccio – the changes to the art. 25-octies in which the advance reporting mechanism for the emergence of a business crisis is reviewed. In particular, although it is of closest interest to accountants, the text of the decree contains the reformulation, requested for some time by the National Council, of the art. 25-octies, providing for the mitigation or even exclusion of liability for auditors who are promptly activated with the report to the administrative body, but also by adequately limiting the terms and conditions to consider such report timely: sixty days from knowledge effective (and not from the theoretical knowability) of the crisis conditions. A historic achievement that is accompanied by the modification of the assumptions of the responsibility of the auditors foreseen by the art. 2407 approved by the Chamber last week, and is also a good omen for what will be the ongoing review of bankruptcy crimes, for which the National Council has on several occasions requested to see the perimeter of “possible fraud” restored with the necessary proof of intentionality”.

Among the approved changes also those to the art. 356 of the Code. “The Managers’ register becomes a list – underlined de Nuccio – with a recognition of the prerogatives of the professional associations supervised by the Ministry which, by regulatory definition, supervise the management of the registers. In this way, trade union professionals are differentiated from those who are not: for them, the obligation of the internship currently foreseen in the current text is finally eliminated”. The refresher training obligations have also been significantly reduced. Also highly appreciated by the profession explicit insertion that professional associations can establish equivalence criteria between biennial refresher courses and continuing professional training courses.

Another innovation strongly supported by accountants is that which concerns the negotiated settlement. The Crisis Code has been integrated with a newly minted provision containing the regulation of settlement agreements for tax credits. “Since this is a private agreement which is validated by the court with the public creditors – he commented -, we are confident in the novelty for encourage the diffusion of the negotiated settlement and the success of negotiations in cases where the main indebtedness is to the Treasury. We finally have a tool, strongly supported by me and the Deputy Minister of Economy Maurizio Leo, to support businesses and the country system.”