Source: Diritto del Risparmio

Diritto del Risparmio outlines the new guidelines issued by the Italian National Council of Chartered Accountants and Accounting Experts (CNDCEC) regarding the supervisory role of the Board of Statutory Auditors ("Collegio Sindacale") in companies adopting artificial intelligence. The document clarifies that auditors must not only verify financial compliance but also assess the adequacy of the organizational and administrative structures to manage AI-related risks. This includes evaluating data governance, privacy compliance (GDPR), and the reliability of algorithmic decision-making processes.

The article emphasizes that the Board of Statutory Auditors is required to periodically monitor the company's AI strategy to ensure it aligns with the law and the company's bylaws. The guidelines suggest specific checklists for auditors to query management about AI vendor selection, cybersecurity measures, and ethical safeguards. This represents a significant expansion of the statutory auditors' responsibilities into the realm of digital governance.