(Finance) – The Ministry of Labor and Social Policies has released directorial note no. 14432 regarding “Articles. 30 and 31 Third Sector Code. Activation of obligations to appoint the control body and the statutory auditor. Further clarification”.
The note deals with topics of interest to members in the register of accountants in as it examines some questions concerning the appointment of the supervisory body referred to in the art. 30 of the Third Sector Code (CTS), which must contain at least one professional tamong those identified by the art. 2397, co. 2 of the Civil Code, and the appointment of the person in charge of the legal audit of the accounts referred to in the art. 31 of the aforementioned CTS.
In particular, the Ministry highlights how for Third sector entities registered for transmigration who, despite satisfying the requirements for the mandatory appointment of the control body or the statutory auditor, have not yet done so “failure to comply without valid justification, in response to the request of the office, which will assign for this purpose an adequate deadline for the entity to regularize its position, may be considered for the purposes of adopting a possible cancellation measure”.
The note, furthermore, it notes that the already operational body which, when requesting registration in the National Third Sector Register (Runts), indicates, through the presentation of the last two approved financial statements, that it has exceeded the size limits set out in the articles. 30 and 31 of the CTS is required to appoint the supervisory body and/or the person in charge of the statutory audit without delay.
“The note from the Ministry – states the Vice President of the National Council of Accountants, Michele de Tavonatti, and National Councilor David Moro, both delegates to the Third Sector – goes in the direction, shared by this Council, of considering internal professional controls, the supervisory body, and external controls, the person in charge of the statutory audit, as an indispensable safeguard for the correct functioning of Third Sector bodies, contributing to create a climate of accountability and trust which is fundamental for entities that are required to manage resources deriving from public bodies, other bodies or citizens”