The provisions introduced after the approval of the Code of the Business Crisis (with reference to art. 2477 of the Italian Civil Code) provide for the obligation to appoint the control body in the event that:
- the company is required to prepare consolidated financial statements;
- the company exercises control over a company obliged to carry out a statutory audit of the accounts;
- the company exceeds for two consecutive financial years at least one of the following parameters:
- assets: 4 million euro;
- Revenues from sales and services: 4 million euro;
- average number of employees during the financial year: 20.
It will be sufficient to exceed even one of the above parameters, again in relation to the time period of the two consecutive financial years, to trigger the obligation to appoint the control body.
It follows that by December 16, 2019, the Srl and cooperatives that in the years 2017 and 2018 have exceeded at least one of the three parameters provided will have to operate as shown above:
- amending or adapting its articles of association, if necessary;
- appointing the new control body.
