Italy Update: Irregular bookkeeping: the responsibility of the administrator

Court of Cassation, judgment no. 34391/2022

The Supreme Court reaffirms the responsibility of the director for the effective and regular keeping of the company’s accounts during the period in which he held the office, even after the actual termination of the office.

He is also liable for any concealment of accounting records, in whole or in part, at the time of handover to the new director, without prejudice to the autonomous obligation of the latter to restore any missing books and accounting documents, as well as to regularize the entries of which he detects the erroneousness, incompleteness or falsity.

By Quorum, Italy, a Transatlantic Law International Affiliated Firm. 

For further information or for any assistance please contact italy@transatlanticlaw.com

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