"May 24, 2016 NEWS-developments in the rules for filing"

Posted by on May 24, 2016

The D.P.C.M. December 10, 2008 (Official Gazette No. 304 of December 31, 2008) decided that for the filing of financial statements of corporations and cooperatives, for the drawing up of the prospectus obligation accounting issues, va uses the XBRL format.

The taxonomy to be used for the formation of XBRL instances for 2016 is the "12/14/2015", which is available on the website of the Agency for the Digital download from XBRL Italy and Italy at the address http://it.xbrl.org/xbrl-Italy/taxonomies/financial accounting principles-Italians/.

The new report taxonomies in a single computer file the entire budget including the notes with the advantage to insert XBRL data in electronic document once common to both parts of the budget. In this way the inconsistencies between the same values of rymd shown in tables of the notes, due often to mundane input errors, you will not be able to verify, ensuring a degree of fairness of increasing budget, with all the obvious advantages for both the reporting enterprise is for those who enjoy.

The practice of filing must contain a balance sheet, income statement and notes to the financial statements in XBRL format on the basis of current taxonomy, and all other documents accompanying the budget (annual report, the report of the Board of Auditors and the approval of the Assembly) in PDF/A format.

The application for deposit must be digitally signed by one of the following subjects:

  • administrator or liquidator of the company;
  • Professional appointee, Member of the order of certified public accountants, who must declare in the model between the notes of the practice: "I, the undersigned, Dr/Rag … enrolled in the register of certified public accountants of … No …, hereby, pursuant to arts. 46 and 47 of the P.r.decree # 445/2000, that it had ongoing disciplinary measures involving the suspension of exercise of the profession, and he was instructed by the legal representative of the company for the performance of this requirement ";
  • delegate, who has been given assignment using special power of attorney signed in manuscript by the administrator or the liquidator of the company, accompanied by proof of identity of the same administrator/liquidator. Both documents (power of Attorney and photo ID) must be attached to the RP of the practice of filing in PDF/A format. One very important thing to check is if the latter signature mode is accepted by the Chamber of Commerce recipient of deposit (for example, there are a few Chambers of Commerce that do not accept instances sent with the special power of Attorney, but only the ones digitally signed by an administrator or by a professional member of the Association of certified public accountants).

Also, depending on the subject you need to insert, at the end of practice signatory to the financial statements, of the terms of compliance under penalty of rejection of the practice of filing. Specifically, if the budget XBRL is digitally signed:

  • by an administrator/liquidator of the company, it is not necessary to insert any declaration of conformity;
  • by the professional representative must be included at the bottom of the financial statements in XBRL format the following statement: "I, the undersigned (name and surname), in accordance with art. 31 paragraph 2-d of law 340/2000, determined that this document conforms to the original filed with the company ";
  • by the party Executive, as mentioned above, you should check in advance if the Chamber of Commerce recipient accepts this subscription mode.

As regards the other attached documents in PDF/A format, such as the minutes of approval, if they are digitally signed:

  • by the professional in charge, you have to put on paper the words: "I, the undersigned (name and surname), in accordance with art. 31 paragraph 2-d of law 340/2000, determined that this document conforms to the original filed with the company ";
  • by the individual delegate or by the administrator/liquidator, you must affix to each document as follows: "I, the undersigned (surname and name), born in (place) on (date) States, aware of the criminal liability provided for under art. 76 of P.r.decree 445/2000 in the case of a false or misleading statement made pursuant to art. 47 of the same Decree, that this document has been produced by optical scanning of the original analog and which carried out successfully on a comparison between the same and the original document pursuant to art. 4 of the D.P.C.M. November 13, 2014 ";
  • from the original subscribers, no declaration of conformity.

In conclusion, the statements of compliance, therefore, should be included when to digitally sign documents attached to the practice of filing financial statements are different from those who formed the Act and attest that the filings are in accordance with the originals held by the society.

by Jeanne Greco