Control and risks committee

The Control and Risks Committee, also responsible for Related Party Transactions and Corporate Sustainability, was established by the Board of Directors on April 22, 2021 in accordance with the provisions of the Corporate Governance Code of listed companies.

The Control and Risks Committee is composed of three non-executive and independent Directors in the person of Patrizia Michela Giangualano (Chairman), Laura Donnini and Umberto Tombari.

The Control and Risks Committee supports the Board of Directors by performing the following activities:

• assesses, after having heard the opinion of the manager charged with preparing the Company’s financial statements, the statutory auditors and the Board of Auditors, the correct use of the accounting standards and their uniformity to the aim of drawing up the consolidated financial statements
• evaluates the suitability of periodic financial and non-financial information to correctly represent the business model, the Company's strategies, the impact of its business and the performance achieved
• examines the content of periodic non-financial information relevant to the internal control and risk management system
• gives opinions on specific aspects related to the ascertainment of the main business risks and supports, with adequate investigations, evaluations and decisions of the Board of Directors relating to the management of risks deriving from prejudicial facts of which the latter has become aware, including the risks that may be relevant in view of the sustainability in the medium to long term of the Company's business
• examines the periodic reports concerning the assessment of the internal control and risk management system and those of particular importance prepared by the internal audit department
• monitors the autonomy, appropriateness, effectiveness and efficiency of the internal audit department
• may entrust the internal audit department to carry out checks on specific operational areas, giving simultaneous communication to the chairman of the Board of Statutory Auditors
• reports to the board, at least on the occasion of the approval of the annual and half-yearly financial report, on the activity carried out as well as on the adequacy of the internal control and risk management system