Patrizia Riva, Alessandro Danovi, Maurizio Comoli, Ambra Garelli
Crisis management. Theory and parctice.
IntechOpen
ISBN 978-1-78923-234-9 http://dx.doi.org/10.5772/intechopen.74964 - 2018-06

In its life cycle, an enterprise may experience periods of crisis. If the crisis is monitored promptly and appropriate measures are taken, not only may the enterprise continue to operate but it may also be able to seize opportunities for growth. The Italian legislator is introducing a procedure aimed at supporting companies to detect the very first warning signs of a crisis. The supervisory board of auditors, the audit irm, and certain qualiied creditors will have the right and duty to start the early warning procedure (“allerta”). The board of statutory auditors (Collegio Sindacale) plays a fundamental role: its ex-ante supervisory and control activities over management allow it to efectively play an important role as main recipient of any crisis warning signs. The new regulatory framework lays down certain indicators and critical thresholds, which may trigger the alert process. Initially, the Delegated Legislation (Bill No.3671-bis) sets forth certain speciic inancial indicators. The new bill (Crisis and Insolvency Code) on the contrary refers to a more complex and sector-speciic system of indicators. The indings of an empirical research conducted by analysing a sample of more than 600 enterprises and testing the discriminating capacity of the indicators initially considered are presented herein.