Internal controls relating to the financial reporting process (Compliance Model under Italian Law 262/2005)
The Internal Audit department has developed the Compliance Model under Italian Law 262/2005 to analyze the significant line items in the Fincantieri consolidated financial statements and to identify the business processes involved in the preparation of financial reports. This Model also defines the specific components of the financial reporting process and requires a system of administrative and accounting procedures, supported and supplemented by “Risk and Control Matrices” where appropriate; lastly, the Model defines the procedures and frequency of financial reporting risk assessment in order to identify the most relevant processes for financial reporting purposes.
Fincantieri has adopted the “CoSO - Internal Control Integrated Framework” and “COBIT - Control Objectives for Information and related Technology” frameworks as the main companywide assessment tools of the system of internal controls associated with financial reporting. The Internal Audit department updates the Compliance Model on an annual basis and whenever such need arise.
Regulated lobbying activity
Lobbying activity consists in communications to government bodies with the aim of influencing the legislative action and / or the introduction of industrial sector programs / policies.
This activity is strictly regulated in the United States, a country in which the Fincantieri Group operates through subjects properly registered as required by local relevant laws.
The references for 2021 are shown below:
|U.S.A.||Fincantieri Marine Group||ACG Advocacy||Office of the Clerk U.S.|
|U.S.A.||Fincantieri Marine Group||Strategic Marketing Innovations||Office of the Clerk U.S.|
|U.S.A.||Fincantieri Marinette Marine||Beau Boulter||Office of the Clerk U.S.|
|U.S.A.||Fincantieri Marinette Marine||Lee Government Relations||Wisconsin Ethics Commission's Lobbying web site|
Furthermore, Fincantieri is registered in the European Transparency Register with identification number 095079912436-63, under Section II “In-house lobbyists and trade / business / professional associations” and in particular in the section “Companies and Groups”; in Italy, where no laws or regulations are in force regarding the lobbying activities, the company is nevertheless registered with the institutions that have provided for specific registers with the aim of making the communication and representation activity more transparent (the Register of interest representatives under section “Companies, groups and businesses” at the Chamber of Deputies, the Transparency Register with the Identification Number 2016-54661236-52 under the Category “Businesses and trade associations, commercial and professional” and in particular in the section “Businesses and Groups” at the Ministry of Economic Development).