Auditors
The Shareholders’ Meeting of 8 April 2010 appointed the serving Board of Auditors, which will expire with approval of the financial statements of financial year 2012, identified the Chairman and determined the respective remuneration
Information on the composition of the Board of Statutory Auditors is provided in Table 5 of Corporate Governance Repo The CVs of the members of the auditing body are available on the www.telecomitaliamedia.it website.
Since 2007, the Board of Auditors has adopted an appropriate procedure governing the receipt, storage and handling of "reports" addressed to it. These “reports” may consist of:
- “complaints/reports” from shareholders concerning what is considered to be improper behaviour;
- "complaints” or notifications, from anyone, shareholders or otherwise, concerning alleged anomalies, irregularities, misconduct or, more generally, any problem or issue which is thought to merit investigation by the control body;
A summary of the procedures and forms in which these reports are sent to the Board of Auditors is available at www.telecomitaliamedia.it, Governance channel.
In 2010, the Board of Auditors performed the standard supervisory activities required by national law, verifying conformity with the law, the Bylaws and the principles of correct administration of the Company's transactions that were of greatest economic, financial and asset-related importance, verifying compliance with the self-regulatory principles and procedures adopted to perform transactions with related parties and their consistency with the interests of the company, supervising compliance with the principles of proper administration and the appropriateness of the company's organisational structure. The Board also supervised the appropriateness of the internal control system and the appropriateness of the administrative and accounting system and its reliability in representing operational events correctly. Finally, the Board of Auditors monitored the independence of the auditing company, verifying compliance with the applicable provisions, in respect of the nature and entity of the services other than accounting control provided to Telecom Italia Media S.p.A. and its subsidiaries by PricewaterhouseCoopers S.p.A. and the entities in its network.
During 2010, the Board of Auditors met 6 times, in some cases together with the Internal Control and Corporate Governance Committee, with an average attendance by its members of 100%.
Please refer to the Board of Auditor’s Report to the Shareholders’ Meeting, drawn up in accordance with article 153 of the Consolidated Finance Law, for detailed information on the activities performed by the Board of Auditors.