According to the Code of Conduct Issued by Borsa Italiana, on April 24, 2015 the Board of Directors appointed the following individuals to be members of the Control and Risk Committee, each of whom is a non-executive, independent director with an accounting and finance or risk management experience: Elisabetta Magistretti, Chairperson, Luciano Santel and Cristina Scocchia.
Each of them has a strong background and significant experience in accounting and finance.
The Committee is responsible for performing investigations, providing advice and submitting proposals to the Board of Directors.
In particular, it performs the following activities:
- assists the Board of Directors in the execution of its internal controls tasks and mandates;
- evaluates (i) the planned initiatives and projects of the Internal Control Officer (ICO) and the relevant reports issued by the ICO; (ii) the proper use and application of accounting principles together with the manager responsible for the preparation of the Company's accounting records and the managers and auditors; (iii) assesses the results of the activities performed by the Internal Auditing function;
- monitors the effectiveness of the auditing process;
- expresses opinions concerning the identification of corporate risks as well as the planning, implementation and management of the internal control system.
For further information, please see the Annual report on Corporate Governance.