Internal Control Officer

  • Responsibility for the internal control system lies with the Board of Directors
  • The Board relies on the Committee for Internal Control, Risks and Corporate Governance and on a Responsible Officer
  • The Board relies on a Responsible Officer with an appropriate degree of independence

Responsibility for the internal control system lies with the Board of Directors as a whole, which establishes policies and periodically verifies its adequacy and effective functioning.
For this purpose the Board relies on the Committee for Internal Control, Risks and Corporate Governance and on a Responsible Officer with an appropriate degree of independence and the means required to perform this function, assigned the typical functions of verifying the system's adequacy and efficiency and proposing corrective actions if problems are identified.

Following its renewal, in its 29 April 2008 meeting the Board of Directors identified the Chairman of the Board as the Director with responsibility for the Company's internal control system and, in line with the recommendations of the Self-Regulatory Code59, assigned the following tasks to this person:

  • identifying the principal risks to which the company is exposed, taking into account the characteristics of the activities performed by the issuing company and its subsidiaries, and periodically submitting them to the Board of Directors for examination;
  • implementing the policies defined by the Board of Directors, planning, implementing and managing the Company's internal control system, and constantly verifying its overall adequacy, efficacy and efficiency;
  • adapting the system to the dynamics of operating conditions and the legislation and regulations;
  • proposing to the Board the appointment, revocation and remuneration of one or more internal control officers.

59 Also to implement the recommendations of the Self-Regulatory Code: Criterion of application 8.C.1., lett. b).