Board of Statutory Auditors
The Board of Statutory Auditors is the corporate body which monitors compliance with the principles of correct administration, in particular the adequacy of the organisational, administrative and accounting structure adopted by the directors and its correct operation. The Board is made up of three permanent auditors and two alternate auditors having the requirements of integrity and professionalism as set out by current law.
The statutory auditors act with autonomy and independence and must maintain strict confidentiality on the documents and information acquired in the performance of their duties and respect the procedure adopted for the public disclosure of documents and information concerning the Company. The Board of Statutory Auditors and the auditing company exchange data and information relevant to the performance of their respective duties. The Board of Statutory Auditors must meet at least every ninety days.
It should also be noted that, pursuant to Legislative Decree no. 39 of 27 January 2010, the Board of Auditors has been attributed with specific tasks relating to financial reporting, the internal control system and the statutory audit. The results of the monitoring activity carried out are included in the Report prepared pursuant to art. 153 of the Consolidated Finance Act and attached to the budget documentation.
Composition of Statutory Auditors
|Renato Bolongaro||Board of auditors chairman|
|Barbara Piermarioli||Statutory Auditor|
|Roberto Lorusso Caputi||Statutory Auditor|
Functions of the Board of Statutory Auditors
- Verification of compliance with the law and the Constitution and respect for the principles of proper management;
- Verifying the adequacy of the Company's organizational structure, the internal control system and the accounting system and check the reliability of the latter to correctly represent the inherent management;
- Method of implementing the corporate governance rules provided by codes of conduct drawn up by companies managing regulated markets or by trade associations, which the Company declares to comply;
- Verifying the adequacy of the instructions given by the company to its subsidiaries in connection with the information to be provided to meet the obligations of communication;
- Verification of conformity of Procedure related party transactions adopted by the Company with the principles indicated in the Consob Regulation adopted by resolution no. 17221 of 12 March 2010 and on the observance of the procedure itself.