INTERNAL CONTROL SYSTEMS AND INTERNAL AUDITING

The course contributes to the educational objectives of the degree course, which aims to provide advanced knowledge on the administrative and financial management of companies.
The course contributes to the achievement of the degree program’s learning objectives by providing advanced knowledge in the field of corporate administrative and financial management.
In light of recent regulatory and market developments, companies are increasingly required to manage risks in a more aware and structured manner. In this context, the course explores the internal control system from the perspective of Article 2086 of the Italian Civil Code.
It also examines the role of the accounting Technical Expert in assessing the adequacy of organizational, administrative, and accounting frameworks, as well as in other types of cases.
Finally, the course analyzes the Internal Audit function, with particular focus on the competencies required of Internal Auditors and the relevant professional standards.

1 KNOWLEDGE AND UNDERSTANDING
- Know the key principles of corporate governance and the main regulatory and professional references at a national level;
- Know the main reference models for risk management;
- Know the sources of the professional standards that inspire the Internal Audit activity

2 ABILITY TO APPLY KNOWLEDGE AND UNDERSTANDING
- Know how to apply international best practices in the field of corporate governance;
- Know how to identify the main standards for the professional figure of the Internal Auditor;
- Know how to apply the techniques that guide the Internal Auditor's activity.

3 JUDGMENT ABILITY
- know how to formulate hypotheses and judgments regarding the effectiveness of the corporate governance system and the Internal Control System;
- know how to identify the main areas of corporate risk, also in order to direct the Internal Audit activity.

Management control and business law

- corporate governance: current state and future perspectives
- Internal control and risk management systems: reference standards
- Organisational, administrative and accounting structures pursuant to Article 2086 of the Italian Civil Code and the assessment of their adequacy
- Oversight of the Internal Control System by the supervisory body following Italian Legislative Decree No. 47/2026
- The role of court-appointed and party-appointed technical experts in corporate matters: focus on assessing the adequacy of organisational structures and typical scenarios in corporate distress
- The role of Internal Audit in the corporate governance system
- The Audit Plan
- Process analysis from a risk management and internal audit perspective
- Expert insights, practical cases and exercises

- Dittmeier C.A., Internal Auditing, Egea, Milano, 2007.
- Other readings uploaded by the instructor

Learning is assessed through a written examination designed to evaluate students’ knowledge of the basic technical concepts covered in the course. The use of books, notes, or electronic devices is not permitted during the examination. The written examination lasts one hour and consists of three open-ended questions. It assesses the expected learning outcomes relating to “knowledge and understanding,” “ability to apply knowledge and understanding,” and “making judgements.” The maximum grade is 30/30.

written

The instructor is responsible for ensuring the authenticity and originality of all examinations and coursework. In cases of suspected academic misconduct, an additional on-site assessment may be required during the exams, which may differ from the standard format.

As regards the gradation of the grade (how the grades will be assigned), regardless of the attending or non-attending mode:
A. scores in the 18-22 range will be awarded in the presence of:
- sufficient knowledge and ability to understand applied in relation to the programme;
- sufficient ability to apply knowledge and understanding and judgment;
- sufficient communication skills, especially in relation to the use of specific language relating to the subject;
B. scores in the 23-26 range will be awarded in the presence of:
- good knowledge and ability to understand applied in relation to the programme;
- good ability to apply knowledge and understanding and judgement;
- good communication skills, especially in relation to the use of specific language relating to the subject;
C. scores in the 27-30 range will be awarded in the presence of:
- excellent knowledge and ability to understand applied in relation to the programme;
- excellent ability to apply knowledge and understanding and judgment;
- excellent communication skills, especially in relation to the use of specific language relating to the subject.

In class lectures and case studies