LensCrafters 2013 Annual Report Download - page 75

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• approves the procedures prepared by the Company for the pre-emptive authorization
of the permitted non-audit services, analytically identified, and examines the reports on the
supply of the authorized services.
With particular reference to the Form 20-F, the Board of Statutory Auditors, in its capacity as
Audit Committee, also carries out the following tasks:
• reviews the financial information to be disclosed in the Form 20-F, including the
audited financial statements, the management report, selected financial information and
information on market risk, together with the company management and auditing firm;
• reviews the assessment of the quality and acceptability of accounting principles, the
reasonableness of significant evaluations, the clarity of the disclosure of financial
information, the management report, the selected financial information and information on
market risk, together with the CFO and auditing firm;
• assesses the results of the regular and annual auditing of accounts and any other
matters that must be communicated to the Board of Auditors by the auditing firm in
accordance with the auditing principles in force in Italy and the USA and other applicable
regulations.
In accordance with U.S. regulations, Alberto Giussani was appointed Audit Committee
Financial Expert by the Board of Directors on April 27, 2012.
The Board of Statutory Auditors has been granted the appropriate skills and resources to
perform the above-mentioned duties.
In 2013 the Board met ten times.
All the Auditors comply with the legal requirements of such office and in particular with the
requirements set forth in Article no. 148, paragraph 3, of the Italian Consolidated Financial
Law.
Below is some background information on the members of the Board of Statutory Auditors
currently in office and on the main offices held in other companies as at December 31, 2013.
Francesco Vella, Chairman
An attorney at law, Mr. Vella is full professor of commercial law at the University in
Bologna, Italy, where he currently teaches in the Master’s program. He has written three
essays and several publications for miscellaneous journals and magazines specialized in
banking, financial and corporate matters. Mr. Vella is a member of the editorial board of the
following magazines: “Banca Borsa, Titoli di Credito”, “Mercato Concorrenza e Regole”, “Il
Mulino”, “Banca, impresa e società”, “Giurisprudenza Commerciale” and “Analisi giuridica
dell’economia”, which he helped to set up, as well as the website “lavoce.info”. He has been
Chairman of the Board of Auditors of the Company since April 2009.