News · Accounting · – 22 July 2026

The new OIC 5 standard: criteria for liquidation financial statements

TOPIC
On dissolution, the going concern perspective gives way to a realisation perspective.

Once liquidation begins, the measurement logic changes: assets are stated at their expected realisable value and a provision must be recognised for liquidation costs and charges, estimating the net burden expected until the procedure closes. The disclosures accompanying the liquidation accounts change accordingly.

The sequence — opening liquidation statements, annual interim statements and final statements — structures the whole procedure, and the liquidators’ report must account for the criteria adopted and for the progress of realisation. Criteria that are explicit and consistent over time reduce the risk of challenges by shareholders and creditors.

IN PRACTICE
At the time of dissolution it is worth recording in writing the measurement criteria and the scope of the liquidation cost provision: it is the document against which the liquidators’ diligence will be assessed years later.

Summary note by the CommercialistiAvvocati network, based on specialised legal and practice sources. The text does not reproduce original contributions and does not constitute professional advice.

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