Bolzano Court denies auditor compensation due to lack of independence

The Court of Bolzano has ruled that a statutory auditor is not entitled to compensation following the judicial liquidation of a company due to a lack of required independence. The court found the auditor's appointment null and void because the auditor belonged to the same professional firm as two members of the company's board of statutory auditors.

According to the ruling, the requirement for independence must be maintained both in practice and in appearance, based on the criteria of an informed, objective, and reasonable third party. The court noted that the economic significance or scale of the relationship is irrelevant; any relationship capable of compromising objectivity must be excluded to satisfy legal requirements.