Internal Control Committee
Establishment and composition
The Internal Control Committee is made up of three non-executive directors, all of them are independent.
Functions
This Committee helps the Board of Directors in the following functions:
- to define the guidelines for the Company's internal control system so that the risks faced by the Company and its subsidiaries are correctly identified, assessed, managed and monitored while also evaluating the extent to which these risks are compatible with sound and correct business management;
- to appoint the executive director in charge of supervising the proper functioning of the internal control system, as required by the Corporate Governance Code;
- to draft the part of the annual corporate governance pertaining to the internal control system, its essential compnents and the evaluation as to the overall adequacy of the system itself.
The Internal Control Committee, in addition to assisting the Board of Directors on the matters above, also:
- assesses, along with the Financial Reporting Officer and the auditors, the appropriateness of the accounting standards adopted and their uniformity with a view to the preparation of the consolidated financial statements;
- at the request of the executive director in charge, expresses opinions on specific aspects concerning the identification of business risks, and on the planning, realization and management of the internal control system;
- evaluates the plan of work and periodic reports preparated by the internal control officers;
- evaluates accounting firm's bids for the external auditing assignment, and reviews the external auditing plan and the auditors' reports and reccomendations;
- monitors the efficacy of the external auditing process;
- performs the other duties entrusted to it by the Board of Directors, particularly as regards relations with the external auditors, the Board of Statutory Auditors, the Supervisory Board and the Financial Reporting Officer;
- reports to the Board of Directors at least every six months, when the annual and interim reports are approved, on the work performed and the adequacy of the internal control system.
| Name | Role |
|---|---|
| Gualandri Elisabetta | Independent director (Chairman) |
| Salvini Livia | Independent director |
| Franzoni Massimo | Independent director |



