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.