Juventus, the balance sheet gets the auditor into trouble: from Consob maxi sanction to Deloitte. All the numbers

Juventus' balance sheet gets the auditor into trouble . In fact, Consob has imposed a fine of 40 thousand euros on Deloitte (one of the large audit firms) and one of its partners Giorgio Barbieri , in relation to the June 2022 balance sheet certified by Deloitte.

The fine is justified because “the violation of the Principle of Formation of the opinion and report on the financial statements was ascertained” where it provides that “the auditor must assess whether the financial statements are prepared, in all material respects, in accordance with the provisions of the applicable financial reporting framework; in particular, the auditor must assess whether, in light of the provisions of the applicable financial reporting framework, the accounting principles chosen and applied are consistent with the applicable financial reporting framework and are appropriate”.

Furthermore, “where the financial statements are prepared in accordance with a fair presentation framework, the required assessment must also take into account whether the financial statements provide fair presentation. The auditor's assessment of whether the financial statements provide fair presentation must consider whether the financial statements represent the underlying transactions and events in a manner that provides fair presentation.”

It should be remembered, in fact, that Deloitte, after examining the company's financial statements as of June 30, 2022, had issued a "qualified opinion". The accounting experts wrote in the report that the financial statements "provide a true and fair view of the group's financial position as of June 30, 2022" but "with the exception of the effects of what is described in the paragraph 'Maneuvers on the compensation of registered staff relating to the 2019/20 and 2020/2021 sports seasons' and the possible effects of what is described in the paragraph 'Relations with another football team'".

The certification was signed by Barbieri and Juventus had responded to the findings . Moreover, it is the same Deloitte partner who also certified the last consolidated balance sheet of the Bianconeri closed on 30 June without findings, while underlining that what he carried out was a "limited accounting audit".

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