Source: http://www.sogefigroup.com/en/bilancio/2012/attestazione-e-relazioni/relazione-del-collegio-sindacale.html
Timestamp: 2018-12-17 10:53:26
Document Index: 98715375

Matched Legal Cases: ['art. 17', 'art. 14', 'art. 14', 'art. 123', 'art. 154', 'art. 81', 'art. 123']

pag154 298 bil con ING.139 142
During the financial year closed at December 31, 2012, we carried out our supervisory activity as required by law and the Articles of Association, in accordance with the Rules of Conduct for the Board of Statutory Auditors recommended by the National Council of Accountants and the Corporate Governance Code issued by the Corporate Governance Committee of Borsa Italiana S.p.A., and hereby report on such activity. This report was drawn up following the recommendations set out in Consob Communication no. 1025564 of April 6, 2001 as amended.
under art. 17, sub-paragraph 9, letter a) of Legislative Decree no. 39/2010, the Independent Auditors submitted their annual Statement of Independence, a disclosure of any additional, non-audit services provided to SOGEFI S.p.A. and the Group by the Independent Auditors or its affiliates for our examinatio;
we ensured that no significant issues exist that the controlling bodies of SOGEFI S.p.A.'s would have to disclose;
We collected adequate information on significant operational, financial and equity-related operations conducted by SOGEFI S.p.A. and its subsidiaries and established their compliance with the law and the Articles of Association; the Directors provide adequate disclosure on such transactions in the Report on Operations; we also obtained information on and assurance that the transactions resolved and carried out were not manifestly imprudent, risky, in conflict with Shareholders’ Meeting resolutions or in potential conflict of interest with the same or, in any case, of such a nature as to jeopardise integrity of corporate assets.
The Directors provide adequate disclosures on key transactions, as well as on the dealings between SOGEFI S.p.A., Group companies and/or related parties in the Report on Operations and in the Notes, and state that such dealings were conducted at arm’s length, taking into account the quality and type of services rendered; such dealings mainly consisted in the provision of administrative and financial services, as well as management support and communication services; appropriate financial details are provided and the impact on the statement of financial position is adequately described in the documents accompanying the 2012 statutory financial statements.
The Independent Auditors Deloitte & Touche S.p.A. issued their Audit Reports under art. 14 of Legislative Decree no. 39/2010 on the statutory and consolidated financial statements as at December 31, 2012 on the same date as this document. These reports include the auditors' opinion on consistency as provided for by art. 14, sub-par. 2, letter e) of Legislative Decree no. 39/2010 and art. 123 bis of Legislative Decree no. 58/1998, without any disclosure observations or statements.
During the year 2012, SOGEFI S.p.A. engaged the Independent Auditors to perform certain certifications after due inspection - in addition to its auditing services - for a consideration of Euro 4,000. - During the same year, SOGEFI S.p.A.'s subsidiaries engaged the Independent Auditors to perform certain certifications after due inspection for a consideration of Euro 11,000.
Again during the same year, SOGEFI S.p.A. engaged entities affiliated with the Independent Auditors to perform due diligence procedures for a consideration of Euro 390,000.
The following meetings were held during the year 2012: 6 Board of Directors meetings, 5 Control and Risk Committee meetings, 4 Appointment and Remuneration Committee meetings; and 8 Statutory Board of Directors meetings.
There are no particular observations to be made concerning compliance with proper governance principles, which seem to have been implemented consistently, or the adequacy of the organisational structure, which we found to be adequate to meet the requirements for operations management and control.
We found the internal control system to be adequate to the size and management style of the Company, and were able to confirm this during the meetings of the Control and Risk Committee, which are attended by the Chairman of the Statutory Board of Auditors (or by a Statutory Auditor appointed by the Chairman) as provided for by corporate governance rules. In addition, the Group's Chief Internal Auditing Officer and Internal Control Officer under the Corporate Governance Code issued by the Corporate Governance Committee for listed companies acted as a liaison and provided the necessary information on the methods adopted to perform his duties and the results of his audits, among other things by attending certain meetings of the Statutory Board of Auditors.
There are no observations to be made as to the adequacy of the administrative/accounting system and its ability to provide a reliable view of operations; with regard to the disclosures in the statutory and consolidated financial statements as at December 31, 2012, the Managing Director and the Manager responsible for preparing the Company’s financial reports under art. 154-bis, sub-paragraph 5 of Legislative Decree 58/1998 and art. 81- ter of Consob Regulation no. 11971 of May 14, 1999 as subsequently amended have issued their relevant statements.
The Company substantially followed the recommendations contained in the Corporate Governance Code drafted by the Corporate Governance Committee for listed companies and described its corporate governance model in the relevant Report, which was prepared among other things under art. 123-bis of Legislative Decree no. 58/1998. Within the limits of our responsibility, we monitored the actual methods used to implement the corporate governance rules set out in the above mentioned Corporate Governance Code, as adopted by the Company, and ensured that the findings of the Board's periodic assessment of Statutory Auditors' compliance with the independence requirements according to the same criteria applicable to Independent Directors under the above mentioned Corporate Governance Code were included in the Corporate Governance Report of SOGEFI S.p.A. In compliance with Legislative Decree no. 231/2001, the Company adopted, implemented and maintained up-to-date an “Organisational Model” that governs its behaviour and business conduct and set up a Supervisory Body as provided for by the Decree. The Company also adopted a Code of Ethics.
Our auditing and monitoring activities took place during the year 2012 in the normal course of business and identified no omissions, reprehensible facts and/or anomalies worth noting.
After completing our audit and monitoring activities, we have no proposals concerning the statutory financial statements as at December 31, 2012, their approval or any other issue within our area of responsibility pursuant to article 153, paragraph 2 of Legislative Decree 58/1998, nor any remarks on the proposed allocation of the profit for the year or the dividend distribution submitted by the Board of Directors for approval.
Dott. Riccardo Zingales (Chairman of the Board of Statutory Auditors)
Dott. Giuseppe Leoni (Acting Auditor)
Dott.ssa Claudia Stefanoni (Acting Auditor)