Italian Securities Commission updates auditors’ annual reporting checklist to capture listed issuers’ crypto-asset positions

The Italian Securities Commission (Consob) has updated the control checklist that audit firms must submit in relation to the annual financial reports of companies with shares listed on regulated markets, introducing new information requirements on crypto-assets. The update adds a dedicated “Crypto-assets” sub-section within the “Other information” area of the summary framework. Auditors must indicate whether the audited issuer holds positions in crypto-assets, including cryptocurrencies, electronic money tokens and asset-referenced tokens as defined in Regulation (EU) 2023/1114 (MiCAR), as well as other types of crypto-assets even if outside MiCAR’s scope. Where crypto-assets are held, the checklist requires the auditor to report the percentage of total assets represented by their overall carrying amount, the type of crypto-assets and whether they fall under MiCAR, the accounting recognition and measurement applied, and whether the financial statements include information on the nature and risks associated with the positions. The updated version is available on Consob’s website. The signatory of the audit report must submit the checklist to Consob within 20 days after the issuance date of the audit report on the issuer’s separate and consolidated financial statements.