The financial market turmoil of 2008 has challenged Public Sector (governmental) reporting agencies as well as those in the for-profit sector. Many states are struggling to finance existing services to citizens and this is being exacerbated by the tax bas

Simona Alfiero, Silvana Secinaro


The purpose of the paper is to ascertain whether the implementation of an organisational model similar to the model defined in Legislative Decree 231/2001 may be a valid control tool for public companies which include other shareholding companies, defined as local public groups. The paper is developed, through the tracing and study of all the documentation concerning the organisational models of the subsidaries of Comune of Turin, taken as part of the sample and the relative subsidiaries: in particular the consolidated financial statements of the group and the financial year of the relative subsidiaries, the reports about corporate governance, the organisational models in 231/01 and the codes of ethics. The study of the abovementioned documentation has made it possible, partly through a deep analysis of the scientific contributions present on the subject, to develop a questionnaire/interview to submit to the parties who act as contacts on the board of directors of the groups sampled normally identified in the Internal Audit function. The research highlights the need to adopt specific techniques and instruments that are suitable for identifying and analysing all risks that could concern the group of local public companies. It emerges in fact that Italian local public companies invest in systems to monitor performance and compliance, trying an integrated approach at group level. The objective is in fact the transversal and exhaustive nature of risk evaluation that leads to models of group organisation that are efficient and effective. Efficient, in such a way that the costs of managing the system are less than the benefits obtained in terms of risk coverage; effective in as much the organisational models integrated at group level increase the protection of the administrative and criminal accountability of the entire company group. An unitary organisational model thus involves an integrated internal auditing system that must be well established inside the group of public local companies.

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