2022, Vol. 5, Issue 2

In this article, the question arises as to when a balance sheet can be defined as definitive is certain. Undoubtedly, observance of the postulates of truthfulness, fairness and clarity is the first step toward drawing up a legitimate and legally valid balance sheet. This, however, does not guarantee that the financial statements are certain and definitive because, at any time, a shareholder or third party may challenge the financial statements drawn up even though they observe the postulates of clarity, truthfulness and correctness. The balance sheet will become final and inevitable when no one can challenge the resolution approving that document. This article will highlight the evolution that has taken place in Italy concerning this issue.