Roles, profiles and responsibilities of our Board of Statutory Auditors.
The Board of Statutory Auditors is responsible for ensuring compliance with the law and with the Bylaws, as well as with the principles of proper administration in carrying out company activities; it is responsible for verifying adequacy of the organizational structure, of the internal auditing system and of the company’s administrative-accounting system; it carries out the duties assigned to the Board of Statutory Auditors in compliance with the law and the Governance Code of listed companies.
The Board of Statutory Auditors is entrusted with the task of supervising the financial disclosure process, the efficacy of internal control systems, internal auditing and risk management, auditing of annual accounts and of consolidated accounts and the independence of the auditing company.
Terna's Board of Statutory Auditors is formed by:
Meetings of the Board of Statutory Auditors
The participation of Statutory Auditors in the meetings of the Board of Statutory Auditors during the year is indicated in table 2 attached to the Report on Corporate Governance.
Remuneration of the Board of Statutory Auditors
The compensation of the Statutory Auditors is established by the Shareholders’ meeting.
The remuneration of Auditors for 2010 are summarized in the Financial Statement. The chart was drafted with reference to the term of office and on the basis of the matching concept.
