The Organismo Italiano di Contabilità is Italy's national accounting standard-setter. It issues the principi contabili nazionali — the OIC standards — applied by Italian entities preparing statutory accounts under the Civil Code rather than under IFRS. It also provides technical support to Italian legislators on accounting matters and represents Italy in European standard-setting discussions, notably with EFRAG.
What the OIC publishes
- The OIC accounting standards, each covering a specific area of statutory reporting
- Drafts for comment and the final versions that follow
- Technical guidance and factsheets interpreting specific accounting questions
- Comment letters to the IASB, EFRAG and other international bodies
- Positions on sustainability reporting standards as they affect Italian entities
- Webinars and educational material for the profession
Why it matters for compliance teams
Italian statutory accounts follow OIC standards, and the gap between those and IFRS is material for any group consolidating Italian subsidiaries — recognition and measurement diverge in ways that affect distributable reserves and transaction analysis. OIC standards are also updated periodically rather than continuously, so knowing which version applies to a given financial year matters.
Seqlense DOC indexes OIC standards and drafts alongside EFRAG endorsement material and the other national standard-setters, so a reporting team can compare Italian statutory treatment against the European and international position.