The Italian Collegio Sindacale : theory and practice of joint audit in a civil law setting

Includes bibliographical references.

Corporate governance rests on a deceptively simple question: who monitors those who manage the firm? Decades of reform have refined the answer without settling it, and the limits of auditing as a standalone mechanism have become increasingly evident. The Italian Collegio Sindacale (Board of Statutory Auditors) occupies a singular position in this debate. A permanent, collegial, professionally qualified body, it has persisted since the late nineteenth century while its mandate has expanded to encompass organizational adequacy, internal controls, and — in many cases — the statutory audit itself.

Its longevity raises a question this monograph addresses rather than assumes:functional effectiveness, or institutional inertia? The volume argues that the Collegio Sindacale is neither a substitute for external audit nor a functional equivalent of joint audits or audit committees, but a distinct governance institution whose effectiveness depends on legal design, professional incentives, and institutional context. Combining legal analysis, auditing theory, and original empirical evidence, it offers an integrated reassessment of collegial oversight [Publisher's text].

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