In an audit firm, the majority of board members must be natural persons authorised to perform statutory audits in one of the Member States of the European Union. Italian or EU citizenship is required to become a licensed auditor. Third-country nationals can obtain a license subject to reciprocity.
"Article 2 (Licence to practice as a statutory auditor)
1. Statutory auditing can only be carried out by those entered in the Register. [...]
3. The following are eligible to entry the register:
a) natural persons authorised to perform statutory audits in one of the other Member States of the European Union who have passed an aptitude test, carried out in Italian, focusing on knowledge of the relevant Italian legislation in accordance with the procedures set out in the regulations of the Ministry of the Economy and Finance, having consulted Consob4;
b) on condition that reciprocity of terms is guaranteed for Italian statutory auditors, Third country auditors who fulfil the conditions specified in section 2 who, if appropriate, have taken part in such States in refresher courses and passed an aptitude test carried out in Italian, focusing on knowledge of the relevant Italian legislation in accordance with the procedures set out in the regulations of the Ministry of the Economy and Finance, having consulted Consob.
4. Companies which meet the following conditions are eligible to enter the Register:
a) the members of the Board of Directors or the administrative board who meet the professional conduct requirements drawn up by the Ministry of Economy and Finance having consulted with Consob;
b) the majority of the members of the Board of Directors or the administrative board are natural persons authorised to perform statutory audits in one of the Member States of the European Union;
c) in the companies regulated by Chapters II, III and IV of Title V of Book V of the Civil Code, both numerical and shareholder majorities are made up of entities authorised to perform statutory audits in one of the Member States of the European Union;
d) in the companies regulated by Chapters V and VI of Title V of Book V of the Civil Code, registered non transferable shares by endorsement;
e) in the companies regulated by Chapters V, VI and VII of Title V of Book V of the Civil Code, the majorities are made up of entities authorised to perform statutory audits in one of the Member States of the European Union;
f) those responsible for statutory audits are natural persons in the Register. [...]
6. Entry in the Register confers the right to use the title of statutory auditor. [...]" (Legislative Decree no. 39 of 27 January 2010, "Implementation of directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts, amending directives 78/660/EEC and 83/349/EEC and repealing directive 84/253/EEC"; last amended by LEGISLATIVE DECREE of 2 February 2021, n. 17; Article 2 [unofficial translation])
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"Art. 36. (Requirements for registration in the Register)
1. For registration in the Register it is necessary:
a) be an Italian citizen, or a citizen of a State member of the European Union or of a foreign country under the condition of reciprocity'; [...]" (LEGISLATIVE DECREE of 28 June 2005, n. 139, "Constitution of the Order of Chartered Accountants and Accounting Experts, pursuant to Article 2 of Law no. 34"; last amended by LAW of 18 December 2020, n. 176; Article 36(1) [google translation])
Legislative Decree no. 39 of 27 January 2010, "Implementation of directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts, amending directives 78/660/EEC and 83/349/EEC and repealing directive 84/253/EEC"; last amended by LEGISLATIVE DECREE of 2 February 2021, n. 17; Article 2
LEGISLATIVE DECREE of 28 June 2005, n. 139, "Constitution of the Order of Chartered Accountants and Accounting Experts, pursuant to Article 2 of Law no. 34"; last amended by LAW of 18 December 2020, n. 176; Article 36(1)
[<a href="http://www.normattiva.it/uri-res/N2Ls?urn:nir:stato:decreto.legislativo:2010-01-27;39">Decree</a>],[<a href="https://www.consob.it/web/consob-and-its-activities/laws-and-regulations/documenti/english/laws/fr_decree39_2010.htm?hkeywords=&docid=1&page=0&hits=24&nav=false">Decree_Eng</a>]