Eni follows the traditional corporate governance system provided for by Italian law, in which the monitoring functions are entrusted to a typical Italian Corporate Governance body: the Board of Statutory Auditors.
The Board of Statutory Auditors currently in office has been appointed by the ordinary Shareholders' Meeting of 10 June 2008 for a term of three financial years and up until the date of the Shareholders' Meeting which will be convened for the approval of the financial statements of 31 December 2010
SCHEME
functions
The Board of Statutory Auditors shall check:
The Board of Statutory Auditors drafts a reasoned proposal, to be submitted to the Shareholders' Meeting approval, regarding the engagement to audit the annual and half-year financial statements on an auditing firm entered in the special register and its fee.
In accordance with the
Eni Corporate Governance Code
, the Board of Statutory Auditors monitors the independence of the auditing firm, verifying both the compliance with the provisions of applicable laws and regulation governing the subject matter thereof, and the nature and extent of services other than the accounting control provided to Eni Group also through entities belonging to the network of the same.
As of 1 June 2005, the Board of Statutory Auditors is responsible for carrying out the role, within the limits established by Italian law, of Audit Committee as required for foreign issuers by the Sarbanes-Oxley Act and by Stock Exchange Commission regulations.
The current Board of Statutory Auditors was nominated by the ordinary Shareholders Meeting of 10 June 2008 for a period of three financial years, up to the date of the shareholders' meeting that will be called to approve the financial statements 2010.
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Last updated on 20/01/10