The Board of Statutory Auditors monitors compliance with the law, regulations and the Articles of Association, with the principles of sound management and particularly the adequacy of the organisational, administrative and accounting arrangements adopted by the Company and its effective operation, as well as the adequacy and functionality of the overall risk management and control system
In its capacity as the internal control and audit committee pursuant to Legislative Decree 39/2010, the Board of Statutory Auditors also supervises the financial reporting process and statutory audit activities, as well as the independence of the audit firm.
The Board of Statutory Auditors of ENAV adopts and updates its regulation, which combine the rules of law and those under the Articles of Association as well as best practice to govern the functioning of the oversight body. In its 10 articles, the Board of Statutory Auditors Regulation incorporate the provisions on its appointment and composition and establish its role and responsibilities, governs the planning of its activities and specifies the information flows functional to those activities. Operational rules are also established, with particular regard to the methods and timing of calling and conducting meetings.
Pursuant to the Articles of Association, the Board of Statutory Auditors is composed of three standing auditors and two alternate auditors appointed by the Shareholders' Meeting on the basis of slates presented by the shareholders, in compliance with the laws and regulations governing gender balance.
The current Board of Statutory Auditors was appointed by the Shareholders’ Meeting of 3 June 2022. Its term of office will last until the Shareholders' Meeting called to approve the financial statements at 31 December 2024.
Composition and eligibility requirements of statutory auditors
Pursuant to the By-laws, the Board of Statutory Auditors is composed of three standing members and two alternate members, appointed by the Shareholders’ meeting for a period of three financial years, expiring on the date of the general meeting convened to approve the accounts of the last financial year of their term. As per the By-laws, the Board of Statutory Auditors is appointed through a slate voting system and ensuring compliance with applicable laws, including in regard of balance between genders. Members of the Board of Statutory Auditors must comply with normative as well as statutory requirements providing for their independence, professionalism and integrity.