Degree course: 
Corso di Second cycle degree in ECONOMICS, FINANCE AND BUSINESS LAW
Academic year when starting the degree: 
Academic year in which the course will be held: 
Course type: 
Optional subjects
Second semester
Standard lectures hours: 
Detail of lecture’s hours: 
Lesson (40 hours)

We suggest that you may have knowledge about Accounting and Financial Statements.There are no preliminary examinations.

Final Examination: 

Only the final exam is available, at the end of the course. The exam takes place in oral form (about 20 minutes) and focuses on at least 3 questions related to the program of the course and aimed at verifying the achievement of the objectives of knowledge of the course. In the case of full mastery of the topics dealt with, of the capacity for critical elaboration and cross-sectional analysis of the themes, the teacher can attribute the honors on such exam. There are no differences in the exam program and in the compulsory texts for attending and non-attending students. Moreover, given the extent and complexity of the issues, attendance is recommended. There are no additional methods for assessment of the preparation.

Voto Finale

Auditing is important for anymanager/executive/businessman since Auditing applies to any company and institution, consequently the course is also strongly suggested for students who do not intend to undertake the profession in question, in order to be able to understand the main aspects of this activity that the students will certainly face in the workplace.At the end of the course, students will be able to:
‒ attain an updated framework regarding the applicable regulations applicable to Auditing in Italy;
‒ acquire the basic elements regarding the conditions for access to the Register of Statutory Auditors, as well as on the continuous training required to maintain enrollment;
‒ perceive the relevance of the principles of independence, as the foundation of the activity of the Statutory Auditor;
‒ recognize the Auditing Standards, as localized and applied in Italy, as the standards of behavior required in carrying out the Legal Audit;
‒ focus the content of the types of reports issued by the Auditor at the end of the activity carried out and the related professional standards of reference;
‒ frame Auditing in the Italian Public Oversight system, recognizing the powers and duties of MEF and Consob, as well as the disciplinary, civil and criminal responsibility of the Statutory Auditor

This course concerning Auditing aims to analyse the most updated legal and professional rules set out by the European and Italian law.
The course will be focused on the most relevant aspects of Auditing such as (i) the training and, more generally, the requirements to access the Auditing activity, (ii) features of the Audit Engagement (iii) structure and content of the main Professional Standards (ISAs), in force in Italy from January 2015 and subsequent amendments, (iv) issues concerning relations between the Auditor and the Italian Supervisory Authorities and (v) issues concerning the Auditor’s liability.
Moreover, the course will outline the progressive developments, provided by the Italian legislator, of the activities related to the broad category of assurance engagements, to which the Auditor’s activity on the financial statements belong as well.
Subject Matter (time is approximate)
Statutory Audit: Consob, Assirevi, OIC, Ethical rules 3h
Audit reform, quality control 1h
Audit Documentation / Phases of Audit process 2h
Audit risk 2h
Audit Planning 3h
Internal Control System 3h
Tests of Controls 3h
Substantive procedures 3h
External confirmations and item selection 2h
Independent Auditor’s report and new “ISA Italia” 3h
Opinion on Compliance on Management Report 3h
Going Concern 2h
Frauds (ISA 240) 2h
Subsequent events and periodic checks 2h
Audit of consolidated financial statements 1h
Use of internal audit and external experts 1h
Related Parties 1h
Engagement Letter 1h
Audit of financial institutions 1h
audit related services 1h

Slides shown during lessons
‒ Current legislation
‒ Manual: C. Mariani, L. Magnano San Lio, The legal audit of the accounts: Risk Based Approach - Franco Angeli, 3rd edition (no paragraphs 5.6, 6.2.1, 7.1)
‒ I. Spertini e AA , Auditing and Internal Auditing - IPSOA (only part one - reading only suggested for further information)
Reference textbooks/documentation is also made available for any further study by the student. From time to time suggestions for in-depth analysis and / or updating with respect to the books are suggested.
The didactic material (slides used during the lessons), readings and reference documentation are made available in the e-learning platform of the course, with the progress of the lessons. The slides are made available from time to time before the relevant lesson. It is advisable to consult the e-learning page for up-to-date and detailed information.


The course is based on face-to-face lectures. The course will provide, as teaching method, an integrated view of aspects deriving, both from the current regulatory framework and from the professional technique applicable in practice in carrying out the Legal Audit. The in-depth analysis of the issues will be accompanied by a constant reference to the concrete experience and cases of the most significant issues that can be encountered within the complex discipline and practice.

2nd semester - at the end of the lesson
1st semester - by appointment
e-mail: -
The consultation takes place on a weekly basis on a fixed day except for the holidays and the month of August. It is advisable to consult the appropriate web page of the lecturer for the calendar. Students can also contact the lecturer at his e-mail address.
Ivan Spertini, graduated in Economics and Business at the "Luigi Bocconi" University of Milan (Business Administration). Since 1989 at KPMG S.p.A., he became a manager in 1996 and a Partner in 2002. He has held engagements in Italy and abroad as to financial institutions and industrial companies according to Italian GAAP, IAS / IFRS and US GAAP. He is currently Partner of the audit of national and international groups, listed and unlisted, mainly in the Industrial and Consumer Market sectors, as well as Partner founder of the Varese Office. Lecturer in training courses both internally at KPMG and externally. Author of publications on accounting principles, financial statements and Auditing.