The Italian government faces a 12-month deadline to draft a comprehensive overhaul of the country’s chartered accountant profession under a newly advanced delegative framework. According to legislative documents reviewed by the Italian Senate and Chamber of Deputies, the upcoming decree aims to modernize regulations that have largely remained unchanged since Legislative Decree No. 139 of 2005.
Legislative Scope and Government Timeline
According to official dossier data from the Senate and Chamber of Deputies, the enabling law grants the executive branch one year from its enactment to issue the legislative decree. The measure requires a proposal from the Minister of Justice, formulated in consultation with the National Council of Chartered Accountants and Accounting Experts (CNDCEC). Additional coordination is mandated with the Minister of University and Research and the Minister of Labour and Social Policies for specific jurisdictional profiles. Draft decrees must be submitted to parliamentary committees for a 30-day advisory review.
Reserved Activities and Professional Scope
Article 2 of the framework reorganizes the professional boundaries of accountants and accounting experts. According to parliamentary text summaries, the reform separates activities reserved by law from typical professional duties spanning tax, economic, financial, corporate, business crisis management, and employment law sectors—the latter included via an amendment approved during committee review. The framework addresses European Union compliance following scrutiny from the European Commission regarding professional qualification controls and multidisciplinary restrictions.
Traineeships, Specializations, and Professional Insurance
According to parliamentary documents:
- Traineeships: Candidates may complete their professional traineeship entirely during their master’s degree studies, shortening the access timeline for younger generations.
- Specializations: An organic framework governs specializations for Section A and Section B registry members, explicitly avoiding the creation of fragmented sub-registers.
- Civil Liability: Collective civil liability insurance policies will be implemented with costs borne directly by the National Council.
Equitable Compensation and Unresolved Debates
During parliamentary debates in the Chamber, the Democratic Party (PD) voiced approval for generational equity measures and female representation quotas in electoral lists, while criticizing certain compromises. According to parliamentary records, committee revisions weakened original protections for equitable compensation by restricting parameter updates strictly to large client relationships under Law No. 49 of 2023, following observations from the Italian Competition Authority (AGCM). Critics also noted the omission of an organic discipline for multidisciplinary professional firms and the lack of explicit primary guidelines addressing artificial intelligence integration in accounting analysis.
Frequently Asked Questions
- What is the primary goal of the reform? The reform updates the 2005 professional framework for Italian chartered accountants to align with European Union law, constitutional jurisprudence, and modern digital and economic shifts.
- Who oversees the drafting of the legislative decree? The Minister of Justice leads the drafting process in agreement with the CNDCEC and relevant ministerial departments before submitting drafts to Parliament.
- How does the reform affect trainees? University students can complete their mandatory professional traineeship during their master’s degree studies.
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