La crisi nelle società controllate pubbliche: monitoraggio e valutazione del rischio

Introduction of the new crisis code (CCII) have renewed attention on the crisis in Municipal Owned Companies (MOCs). National Chartered Accountants Board updated previous 2019 guideline in March 2023 with the aim to unravel interdependencies existing between the commercial law, the special law for the municipal owned companies and the CCII. In this regard, this contribution proposes an empirical analysis aimed at identifying the strengths and weaknesses of the current risk management systems of MOCs regarding the financial crisis. A content analysis is conducted of the Corporate Governance Reports (i.e. Relazione sul Governo Societario) of a national sample of MOCs. The results obtained suggest first of all a lack of attention, widespread among companies, regarding reporting relating to adequate administrative and accounting organizational structures. Further- more, a tendency emerges to favour compliance with the guidelines to the detriment of in-depth analysis of the essential elements for a thoughtful reflection on the prevention of crisis risk. In a future perspective, we hope for an increase in awareness on the part of MOCs regarding the need for active action in risk prevention, attributing greater importance to the fundamental dual prevention and reporting function that the Corporate Governance Report has.