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THE IMPACT OF THE NEW ITALIAN EARLY WARNING SYSTEM PROVIDED BY THE IC-CODE ON FAMILY SMES GOVERNANCE
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Patrizia Riva 
, Maurizio Comoli
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
The Early Warning System is intended as an instrument aimed at driving the companies in the identification of the very first signs of crisis. Monitoring the occurring of the crisis is no longer a responsibility of the sole entrepreneur or of the board of directors but other legitimized subjects are identified. The IC-Code sets up new corporate governance rules for a huge number of Italian Family SMEs pretending the introduction of independent control bodies, Board of Statutory Auditors, and/or External Auditor. Some of the suggestions coming from the family business framework seems then to be enforced by law in the Italian context.
Keywords: Early Warning System, Italian Insolvency and Crisis Code, Board of Statutory Auditors (Collegio Sindacale), Auditors, Family Firms, SMEs Governance
JEL Classification: G34, G32
Received: 21.03.2019
Accepted: 06.05.2019
Published online: 07.05.2019
How to cite this paper: Riva, P., & Comoli, M. (2019). The impact of the new Italian Early Warning System Provided by the IC-Code on family SMEs governance. Corporate Ownership & Control, 16(3), 64-72. https://doi.org/10.22495/cocv16i3art6
