The Audit Committee is currently composed of three non-executive directors, all of them independent.

  • Veronica De Romanis | Chairwoman of the Committee - Non Executive Director - Independent

    Biography

    Born in Rome on 31 March 1969, in 1992 she graduated cum laude in Economics and Business at La Sapienza University of Rome. In 1993 she attended the PhD Course in Economics at the Columbia University of New York. From 1994 to 1996, always in the Columbia university of New York, she attended the Master of Philosophy and the Master of Art in Economics. She started her career as Member of the Expert Council of the Ministry of Economy and Finance in which she stayed until 2008. In 2015 she became an Independent Director as well as a member of the Audit Committee and a member of the Remuneration and Nomination Committee of Cementir Holding S.p.A. – now Cementir Holding N.V. (positions currently in force). In 2016 until 2017 she has been a member of the Scientific Committee of the Department of Economics and the Luigi Einaudi Foundation. In 2018 she became a member of the Steering Committee of the Public Accounts Observatory of the Catholic University of Milan and member of the International Committee of the WE Woman Empower the World Board. Now, she teaches European Economic Policy at Stanford University in Florence (The Breyer Center for Overseas Studies), at the Faculty of Political Sciences and the Master of Business Administration of the Libera Università degli Studi Sociali Guido Carli (LUISS) of Rome. In July 2019, she received a prize called Premio Profilo Donna. She is working with several newspapers and magazines on issues of public finance, European integration, international economic policy, the labor market with particular attention to female employment. Finally, she published “Il Metodo Merkel” (2009, Marsilio editori), “Il Caso Germania” (2013, Marsilio editori) and “L’Austerità fa Crescere” (2017, Marsilio editori).

    Current Positions

    • Non Executive Director and Member of the Audit Committee and Nomination and Remuneration Committee of Cementir Holding N.V.
  • Paolo Di Benedetto | Non Executive Director - Independent

    Biography

    Born in Rome on 21 October 1947, he graduated in law and after he graduated cum laude at the Specialization School of Administrative Sciences at La Sapienza University of Rome. He started his career at Banco di Napoli. Subsequently, he was a Consob manager. From 2003 to 2010 he was a Consob Commissioner. After he became the CEO of SIM Poste S.p.A., of Banco Posta Fondi SGR and member of the Board of Directors of Acea S.p.A., Banca Finnat S.p.A. and Istituto Poligrafico e Zecca dello Stato S.p.A..
    He was Professor of Securities Markets at LUISS University and Tor Vergata University in Rome.

    Current Positions

    • Non Executive Director, Chairman of the Audit Committee, and the Nomination and Remuneration Committee of Cementir Holding N.V.
    • Member of the Board of Directors, Chairman of the Remuneration Committee, Chairman of the Related Party Committee, member of the Audit Committee and member of the Supervisory Board of Edison S.p.A.
    • Independent Director, Chairman of the Related Party Committee, member of the Corporate Governance and Social and Environmental Sustainability Committee of Assicurazioni Generali S.p.A.
    • Chairman of Fondo Nazionale di Garanzia tra gli Intermediari Finanziari.
  • Chiara Mancini | Non Executive Director - Independent

    Biography

    Born in Rome on 20 November 1972, she graduated cum laude in law at La Sapienza University of Rome and in 1999 she passed the bar exams at the Court of Appeal of Rome.
    Over the years she has worked in the private world - at the Italian Banking Association where she is Director of institutional and media relations, as well as President's Advisor - and the public one, as Legal Adviser at the Ministry of Justice during two Legislatures: Monti Government and Letta Government. She has gained experience as an independent Director in several industrial and banking companies.

    Current Positions

    • Non Executive Director and Member of the Audit Committee and Nomination and Remuneration Committee of Cementir Holding N.V.
    • Independent Director and Chairwoman of the Related Party Committee of Astaldi S.p.A.
    • Independent Director and Member of the Related Party Committee of Cassa di Ravenna S.p.A.
    • Chairwoman of Bancaria Immobiliare S.p.A.

Responsibilities of the Audit Committee

The Audit Committee prepares the decision-making process of the Board of Directors regarding the supervision of the integrity and quality of the Company’s financial reporting and the effectiveness of the Company’s internal risk management and control systems. In particular:

  • It monitors the Board in matters including:
    • relations with the internal and external auditors and compliance with and follow-up on their recommendations and comments
    • the Company's funding;
    • the application of information and communication technology by the Company, including risks relating to cybersecurity;
    • or the Company's tax policy
  • it recommends persons for appointment as senior internal auditor
  • it annually forms a position on how the internal audit function the fulfils its responsibility
  • it reports annually to the Board on the functioning of, and the developments in, the relationship with the external auditor
  • it submits a proposal to the Board for the external auditor’s engagement to audit the financial statements
  • it annually discusses the draft audit plan with the external auditor 
  • it determines whether and, if so, how the external auditor is involved in the content and publication of financial reports other than financial statements
  • it meets with the external auditor at least once a year, without Executive Directors being present 
  • it monitors (1) the financial reporting process and draws up proposals to safeguard the integrity of this process; (2) the effectiveness of the internal control systems, the internal audit function and the risk management systems with regard to the Company’s financial reporting; (3) the statutory audit of annual accounts and the consolidated annual accounts; and (4) the independence of external auditors
  • it determines the selection process for the external auditor.
     
Last update: 24/04/2020 | 15:50