Tiscali 2014 Annual Report Download - page 190
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Tiscali SpA 5
Report of the Board of Statutory Auditors
Board of Statutory Auditors does not believe that critical aspects exist with regard to
the independence of Reconta Ernst & Young S.p.A.;
n) during 2014, the independent auditing firm Reconta Ernst & Young SpA did not issue
any opinion required by law, with the exception of its report on the half-year period
as at 30 June 2014;
o) the supervisory activities described above have been carried out during fourteen
meetings of this Board, five meetings of the Risk Control Committee and attending all
the nine Board of Directors meetings, as per Article 149, section 2 of Italian Legisla-
tive Decree No. 58/98;
p) during the supervisory activities carried out and on the basis of the information ob-
tained from the independent auditing firm, no omissions and/or reprehensible action
and/or irregularities have been revealed or in any event significant events which
would require reporting to the audit bodies or mentioning in this Report, with the ex-
ception of the sanction procedure launched by Consob vis-à-vis Tiscali SpA for not
having taken steps to make the 2013 financial report and related attachments availa-
ble to the public within 120 days of the end of the year, as per Article 154 ter, section
1 of the CFL, as well as the interim report as at 31 March 2014 within 45 days of the
end of the quarter. As indicated by the directors, the Company has promptly present-
ed its defence briefs, in which it highlighted, among other aspects, that the failure to
observe the afore-mentioned deadlines was caused by the protraction of the negotia-
tions with the Senior Financiers and the consequent effect on the approval of the ac-
counting documentation with a view to the business as a going-concern. In this con-
nection, it is hereby specified that the Company has always diligently informed the
Market and Consob of the progress of the negotiations with the Senior Financiers.
In as far as it falls within our responsibilities, we express a favourable opinion for the ap-
proval of the financial statements as at 31 December 2014 together with the Report on op-
erations and the resolution proposals drawn up by the Board of Directors.
Cagliari, Italy, 31 March 2015
THE BOARD OF STATUTORY AUDITORS
PAOLO TAMPONI