Italians propose tougher penalties for false accounting
Italian government seeks to increase prison sentence for those involved in issuing misleading corporate information
The government of Italy is set to introduce harsher penalties for those
involved in cases of false accounting and misleading corporate statements.
Yesterday, an Italian government cabinet proposed a bill which detailed new
measures that increase prison sentences from two to four years for those
implicated and responsible for issuing false and misleading corporate
information,
Forbes.com
reported.
The new bill also removes a proviso stating that a crime is not punishable if
it does not affect a company’s pre-tax results by more than 5 percent or its net
assets by more than 1%.