Tiscali 2014 Annual Report Download - page 189
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Tiscali SpA 4
Report of the Board of Statutory Auditors
m) during 2014, Reconta Ernst & Young SpA carried out the legal audit of the statutory
and consolidated financial statements - entrusted to it by the shareholders’ meeting
held on 29 April 2008 - for an overall cost of EUR 444 thousand. A further appointment
was also granted by Tiscali SpA for the performance of professional services within the
sphere of the certification process as per Article 67 of the Italian Bankruptcy Law, for
a total cost of EUR 35,000.
The total of the fees due for 2014 has been summarised below:
EUR 000
Audit services:
Parent Company - Tiscali SpA
272
Subsidiary companies
172
Other professional services:
Parent Company Tiscali SpA - certification assistance as per
Article 67 of the Italian Bankruptcy Law
35
Total
479
It is hereby specified that in December 2014, the same independent auditing firm was
granted the appointment for the issue of the opinion on the suitability of the ap-
proach for determining the issue price of the shares for the share capital increase
with the exclusion of the purchase option (Article 158 of Italian Legislative Decree No.
58 dated 24 February 1998) for a total cost of EUR 70 thousand; the opinion was sub-
sequently issued on 9 January 2015. It is also revealed that during 2015 another two
appointments were granted for a total of EUR 135 thousand, for the examination of
the pro-forma consolidated statement of financial position, income statement and
cash flow statement as at 31 December 2014 and for the report on the forecast data
of the Tiscali Group for the period 2015-2018. These activities were carried out with-
in the sphere of the preparation of the information prospectus relating to the share
capital increase transaction. In order to provide full disclosure, we hereby reveal that
during 2014 the subsidiary Tiscali Italia SpA granted Reconta Ernst & Young SpA two
appointments for the performance of “agreed procedures” on specific information
provided by the directors within the sphere of the Consip Tender, for a total amount
of Euro 45 thousand; the associated activities were carried out in 2015.
Having taken into account: (i) the annual independence confirmation letter issued by
Reconta Ernst & Young SpA pursuant to Article 17.9 of Italian Legislative Decree No.
39/10; (ii) the transparency report produced by the same pursuant to Article 18.1 of
Italian Legislative Decree No. 39/10 as published on the website; (iii) the appoint-
ments granted to the same by Tiscali SpA and by the other Group companies, the