The Control and Riks Committee supports the Board of Directors with proactive and advisory functions in the
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evaluation of risk management policies and decisions;
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approval of budget and financial reports;
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identification of the main corporate risks;
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evaluation of the internal audit work-plan and its performance.
In particular the Committee is requested to issue a preliminary opinion on the following:
- defining the guidelines on internal control system and risk management so that the main risks are correctly identified and adequately measured, managed and monitored;
- determining the degree of compatibility between business risks and strategic goals (i.e. risk appetite);
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assessment of the overall adequacy, effectiveness and efficiency of the internal control system;
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evaluation of the proposals presented by the independent auditors and overseeing the auditing process effectiveness.
The minimum requirements for its composition, functioning, and principal advisory functions are set out in the approved Organizational Regulation.
In accordance with the corporate governance guidelines, the Committee is made up in majority of non-executive directors; at least one of them is required to be independent. All members are required to have experience in accounting, finance and risk management, evaluated by the Board at the time of appointment.
The Statutory Auditors’ Chairman and the Internal Auditor regularly attend the Committee’s meetings. The Internal Auditor acts as the Committee's Secretary and supports it in carrying on its activities.
Currently members of the Committee are
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Emanuele Marcianò, Chairman (non-executive, independent);
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Franco Mosca (non-executive, independent);
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Maurizio Pavesi (executive, Group CFO).
last updated on August, 2015
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