The Board is responsible for the internal control and risk management system, it establishes the guidelines and periodically assesses their adequacy. To do this, the Board relies on the Control and Risk and Sustainability Committee and the Internal Audit Function.
In accordance with Art. 7.P.3 of the Code, the Board has identified among its members:
(a) the director responsible for the Internal Control and Risk Management System, represented by the CEO, whom where attributed the assignments and functions established by the Self-Discipline Code regarding such assignment;
(b) the Control and Risk and Sustainability Committee, having the characteristics indicated in Art. 7.P.4, with the aim of supporting, with appropriate preliminary activities, assessments and decisions of the Board of Directors concerning the Internal Control and Risk Management System.To this end, the Board liaises with the Internal Audit Committee, the Internal Control System Superintendent, and the Internal Audit Department.
The Internal Audit function has the specific task of verifying the operation and adequacy of the internal control and risk management system through independent and objective activities and of assessing and improving the effectiveness of governance, risk management and control processes of the Company and the other companies of the Saras Group.
The internal control system was further strengthened by the adoption of the organization, management and control model of Saras, approved by the Board of Directors on 11 January 2006 and updated on several occasions by implementing the rules relating to the "Regulations governing the administrative liability of companies” pursuant to Legislative Decree no. 231/2001, to the aim of make it coherent with law development, in order to arrange a management and control system intended to prevent the risk of committing offences referred to in the same Legislative Decree no. 231/2001.
The members of the Supervisory Body are:
| Name | Position |
|---|---|
| Renato Colavolpe | Chairman |
| Ferruccio Bellelli | |
| Simona Berri | |
| Paola Simonelli |
The Company has identified a complete picture of the significant risks for the Group (Corporate Risk Profile) and assigned the Risk Officer, with hierarchical reporting to the Chief Executive Officer and General Manager, responsible for overseeing all the activities aimed at monitoring and updating the "Corporate Risk Profile" by periodically collecting information relating to risk identification, assessment and management, made available by each risk owner and by formalising the appropriate reporting at the same time.