Tiscali 2013 Annual Report Download - page 180

Tiscali Spa 2
Report of the Board of Statutory Auditors
represent the operating events, by means of i) the examination of the reports of
the Executive appointed to draw up the corporate accounting documents on the
Administrative and Accounting Set-up and on the Internal Audit System on
Corporate Disclosure produced six-monthly; ii) the examination of the Internal
Audit reports; iii) the dealings with management and with the audit body of the
subsidiary Tiscali Italia SpA, pursuant to Article 151, sections 1 and 2 of Italian
Legislative Decree No. 58/98; iv) participation in the work of the Risk Management
Committee, set up within the sphere of the Board of Directors and made up of
three members of which two are independent members of said board; v) obtaining
information from the heads of the respective divisions; vi) the examination of the
company documents and the analysis of the results of the work carried out by the
independent auditing firm. The work carried out has not revealed any situations or
critical aspects which might suggest the Internal Audit System is inadequate;
f) we have taken note and obtained information on the organisational and procedural
activities entered into as per Italian Legislative Decree No. 231/2011 and
subsequent amendments and additions on the administrative liability of Entities for
the offences envisaged by said legislation. These activities are illustrated in the
Report on corporate governance and ownership structure. The Supervisory Body
reported on the activities carried out during 2013 without indicating events or
situations which must be highlighted in this report;
g) In the report on operations and the explanatory notes to the statutory and
consolidated financial statements - as per the Regulations for carrying out related
party transactions, which came into force on 1 January 2011 - the Board of Directors
provided in-depth illustration of the transactions entered into with subsidiaries and
related parties, clarifying the economic effects. Transactions with related parties
have been analytically indicated in the report on operations where the balance sheet
and income statement balances are summarised; therefore, reference should be
made to the specific section in the consolidated financial statements “Transactions
with related parties”. We have not become aware of the existence of any atypical or
unusual transactions with third parties, Group companies or related parties;
h) no charges/complaints pursuant to Article 2408 of the Italian Civil Code were received
during the year, including those from third parties;
i) we held meetings with the representatives of the independent auditing firm, as per
Article 150.2 of Italian Legislative Decree No. 58/98 and Article 19.1 of Italian
Legislative Decree No. 39/10, during the course of which no significant data or
information emerged which must be indicated in this Report;
j) on 26 June 2014, the independent auditing firm Reconta Ernst & Young S.p.A. issued
its reports on the statutory financial statements and the consolidated financial
statements at 31 December 2013, drawn up in compliance with the International
Financial Reporting Standards (IFRS) adopted by the European Union. These reports