Audit and Risk Committee

The Board of Directors entrusts the Committee with the task of assisting it, by means of consulting and advisory functions, in fulfilling its responsibilities in the matter of internal control and, in particular, in setting guidelines for the internal control system and the periodical evaluation of its adequacy, efficacy and functionality. The Committee supervises the activities of the internal audit function and, more generally, deals with problems arising from internal control issues, with the support of other company structures, functions and bodies involved in the management and/or monitoring of the system; all this provided that the Head of Internal Audit reports to the Board of Directors and, for it, by its Chairman, on the understanding that the management of the functional relationship with the Head of Internal Audit is attributed to the Director in charge of the internal control system and risk management.

 

The Committee is called upon to express its opinion on the interest of the Company in the completion of transactions with related parties, as well as on the convenience and substantial correctness of the underlying terms. Moreover, for transactions with related parties of greater importance, the Committee is involved in the preparatory stage of these transactions.

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