The auditing activity in RSM

Audit and Assurance

At RSM Società di Revisione e Organizzazione Contabile S.p.A. we believe that all companies can find in the audit services a reason and a boost for structural internal growth. We therefore offer our statutory and voluntary audit services to listed companies, public interest entities (PIEs), entities subject to intermediate regime (ESRIs), companies belonging to international groups, and the small and medium-sized enterprises (SMEs) that characterize the Italian economic system

THE AUDITING ACTIVITY IN RSM

Your business faces challenges from evolving market dynamics, rapid industry shifts and complex regulatory requirements. The inherent unpredictability tests how you earn and maintain the trust of your stakeholders, including investors, regulatory bodies, lenders and employees.

To strengthen that trust as a cornerstone of your success, RSM’s technology-enabled audit and assurance services can help you align with stakeholder expectations and uphold the integrity essential in capital markets.

Our approach centers on high-quality digital audits from which we deliver insights that enable you to make confident business decisions in an increasingly complex world.

Skilled auditors using sophisticated technologies to deliver actionable business insights.

Our auditors' command of business dynamics and accounting practices in your industry helps us analyse the account balances, classes of transactions and disclosures relevant to your activities. We combine that with an understanding of your enterprise structure, aspirations and challenges, and a thorough knowledge of regulatory requirements, new accounting standards and technical accounting matters.

We apply all that knowledge to tailor a high-quality digital audit of your business. We then translate findings into insights that may inform your broader business opportunities.

Our people’s ingenuity is enabled by RSM Luca, our global digital audit ecosystem. Throughout our audit process, we keep critical thinking, personal interaction and your experience front and center. While algorithms are fantastic tools for analysing data, our professionals bring perspectives technology alone cannot produce.

With RSM, you get more than an audit that validates important financial information and deepens your stakeholders’ trust. You get forward-thinking insights that support confident decision making amid challenges and unpredictability.

Our Services

Statutory Audit: More Than a Regulatory Obligation

The statutory auditor, with a deep understanding of business processes, becomes a strategic adviser and can contribute data and analysis that offer a different perspective when addressing market challenges. This also enables companies to increase their transparency and credibility with shareholders, customers, suppliers, credit institutions and stakeholders in general, always in compliance with the requirements of independence and professional ethics.

To verify that financial statements comply with the applicable regulations, in addition to the expertise and continuous training of its teams, RSM Società di Revisione e Organizzazione Contabile S.p.A. uses a range of IT tools supported by advanced methodologies in order to provide a tailored audit.

The main services offered in this area are:

Statutory audit
Voluntary audit
Audit of financial information for consolidation purposes
Conversion to and implementation of international accounting standards (IAS/IFRS)
Assurance and certification services

Statutory Audit

The objective of the Audit Team is to ensure, as stated in the Directive, “the proper functioning of markets and the improvement of the integrity and efficiency of published financial statements”.

The audit process is governed by specific rules, constraints and principles applicable to the auditor, as laid down at EU level by Directive 2006/43/EC and subsequently amended by Directive 2014/56/EU: independence, integrity, objectivity, competence and due care, confidentiality, professional behaviour, and compliance with technical standards.

Our approach to audit, closely linked to the most advanced technologies available, is based on:

understanding our clients’ business;
rigorous internal quality assurance and independence procedures;
deep technical and market knowledge.

These elements are assessed by experienced professionals, and for this reason we believe that the Engagement Partner and Manager should play a continuous and active role throughout the entire assignment. Our approach is based on an ongoing process of communication between professionals, staff and company management, as well as on a strong understanding of the control tools used to monitor business performance

In carrying out audit activities, we use:

RSM Luca Audit Methodology, used by the RSM network in all countries worldwide, in compliance with international auditing standards as well as the auditing standards applicable in the relevant individual countries;
Augmented Intelligence (AI) tools applied to financial statement audits;
Revisya, the innovative software that guides the auditor throughout the entire corporate audit process.

Voluntary Audit

Voluntary audit includes all audit activities carried out outside the regulatory framework of Legislative Decree 39/2010. This includes, among other things, full voluntary audits of financial statements, limited reviews, audits of specific financial statement items, and agreed-upon procedures relating to specific account balances. The service also includes the audit of social and sustainability reports.

Augmented Intelligence in Support of Audit

At RSM, we have developed proprietary audit software that enables us to operate with a highly innovative, indeed revolutionary, approach. The audit process is thereby fully digitalised, while at the same time ensuring paperless management of activities.

Artificial Intelligence Applied to Audit

In-Depth and Targeted Reviews

Thanks to the advanced analytical tools and Artificial Intelligence integrated into our system, we are able to carry out in-depth and targeted reviews tailored to the client’s needs and the characteristics of the business, taking into account the parameters of the relevant sector.

The Artificial Intelligence component is also capable of shaping the work of our Audit Teams in applying the RSM Luca methodology used throughout the international RSM network, detecting anomalies through advanced fraud detection algorithms, and proposing innovative cycle-testing functions.

Streamlined and Technologically Advanced Procedures

Our software makes audit processes simpler and faster through more streamlined and technologically advanced procedures. It enables audit teams to work simultaneously on the same engagement, optimises results, and resolves significant issues or matters identified during the review in a timely manner.

The software also makes it possible to create and maintain a dedicated communication channel with the client, who is given access to a reserved user area through which they can:

consult a detailed analysis of their economic, equity and financial situation, thereby obtaining an initial screening of their performance;
review the requests of the audit team;
exchange information with the auditors and upload the documentation required to carry out the work.

Communications, information and documentation collected from the client, as well as the data contained in the working papers, are acquired and stored in full compliance with European rules on personal data protection and privacy, as the software is based on a web architecture equipped with the highest data encryption security measures.

Quality, Independence and Data Security Assurance

High Quality Standards

Rigorous internal quality controls and external monitoring are carried out by our supervisory bodies in order to guarantee the highest quality standards in audit work. RSM is subject to quality reviews by CONSOB, the Ministry of Economy and Finance (MEF), and RSM International.

Ethics and Independence

RSM has adopted an ethics manual that serves as guidance for employees, who also regularly attend training and refresher courses.

In addition, the entire RSM network uses the Global Relationship Tracker to identify potential conflicts and thereby ensure independence in audit engagements.

Data Processing Security

All RSM firms comply with the privacy and data security standards applicable in their respective jurisdictions.

Methodological Transformation and Professional Renewal in Audit

At RSM, we firmly believe in the methodological transformation of audit, which brings changes to the work of auditors that may be demanding in day-to-day practice but highly advantageous in the long term. This new methodological approach allows us to structure our Audit teams in the best possible way, with a smooth and effective organisational workflow, enabling our clients to receive an audit output that is both articulated and genuinely tailored.

The introduction of augmented intelligence into the auditing profession fits perfectly within the broader process of evolution and renewal of the profession itself.

The new generation of auditors no longer focuses on ticking invoices and reconciling them with bank statements. They are expert analysts across different business sectors, moving from a role comparable to a commodity to one more accurately described as a speciality; from serial counters to specialists; from statutory auditors to all-round advisers.

Without prejudice to the crucial institutional role of auditing financial statements, the auditor’s role changes when entrepreneurs see them no longer merely as potential censors, but as skilled professionals to rely on when making and sharing the decisions that are crucial to the future of the business.