The Statutory Audit of the accounts is entrusted, in accordance with the applicable legal framework, to an Independent Auditors firm whose appointment falls under the responsibility of the ordinary Shareholders’ Meeting, following a reasoned proposal by the Board of Statutory Auditors.
Through a resolution dated 28 February 2014, the Company’s Shareholders’ Meeting approved the grant of the statutory audit mandate to PricewaterhouseCoopers S.p.A. (including the verification of the due keeping of accounts, as well as the proper recording of relevant events and facts in the accounting records) for year ended 31 December 2013 and for the years to end from 31 December 2014 to 31 December 2021.
The Company’s Board of Directors, on 5 May 2014, extended the Independent Auditor PricewaterhouseCoopers S.p.A.’s mandate, in order to include therein the so-called Condensed Consolidated Half Year Financial Statements (pursuant to art. 154-ter, paragraph 2, of the Italian Consolidated Financial Act (TUF) and 81 of the Issuers Regulation), as well as the assessment on the report on corporate governance and ownership structures (pursuant to art. 123-bis, paragraph 4, of the Italian Consolidated Financial Act (TUF).
The reports of the Auditors containing the opinion on the financial statements of the Company are incorporated within the annual reports available in the Annual Reports section.
The fees paid to the Independent Auditor PricewaterhouseCoopers S.p.A. for the auditing services provided are the following :
- For the statutory audit of the Financial Statements as of 31 December 2015, including an audit of the accounting records’ accuracy and the correct accounting of the operating results in the corporate records and of the financial statements prepared for consolidation purposes, a fee of € 204,387.00 (plus VAT and expenses), for 2,925 working hours;
- For the statutory audit of the Consolidated Financial Statements as of 31 December 2015, a fee of € 21,040.00 (plus VAT and expenses), for 300 working hours;
- For the statutory audit of the Condensed Consolidated Half Year Financial Statements as of 30 June 2015, a fee of € 60,168.00 (plus VAT and expenses), for 1,079 working hours.