Through periodical meetings with the heads of the various company departments and with the Board of Statutory Auditors and the auditing company, the Internal Control Committee verifies the effectiveness and efficiency of company operations, the reliability of its financial information, and compliance with applicable laws and regulations.

The Internal Control Committee may offer advice and make proposals to the Board of Directors on matters concerning the internal control system. In accordance with the recommendations of the voluntary self-regulatory code (Codice di Autodisciplina delle società quotate in Borsa), the Internal Control Committee is entrusted with the task of:

• assisting the Board of Directors in carrying out tasks concerning internal control, expressing opinions on particular issues as and when necessary,
• assessing the work plan drafted by the appointed internal-control supervisor and receiving periodical reports from this supervisor,
• assessing the work plan submitted for revision and analysing any suggestions made by the auditing company,
• assessing, together with the appointed director and the auditing company, the correct and consistent use of applicable bookkeeping principles for the purposes of drafting the consolidated balance sheet,
• examining, together with the Board of Statutory Auditors, the proposals put forward by the auditing company,
• reporting to the Board of Directors at least once every six months, at the time of the periodical approval of accounts, about the activities it has performed and about the adequacy of the internal control system.