In 2018 the Board of Statutory Auditors met 20 times, duly recording the respective minutes; moreover, the Board of Statutory Auditors had meetings with the Control and Risks Committee and the heads of the different corporate functions – including Internal Audit – with particular reference to the assessment of the appropriateness of the internal control and risk management system, as well as meetings with the external auditors for the purpose of the reciprocal exchange of information.
The activities of the Board of Statutory Auditors included the following:
- at the first meeting following his appointment by the Shareholders’ Meeting of 24 April 2018, it verified its members’ existence of the criteria adopted by the Board of Directors to assess the independence of directors, as well as the requirements of integrity and professionalism pursuant to the TUF;
- it supervised the selection procedure of the statutory auditing firm, issuing the motivated recommendation to be submitted to the Shareholders’ Meeting for the appointment of the statutory audit of the accounts;
- monitored the independent status of the external audit firm, including the nature and extent of non-audit services provided to the Company and its subsidiaries by the audit firm and/or any entities belonging to the audit firm’s network.