Audit firm

As provided for by Italian law, the auditing of financial statements is entrusted to an auditing firm entered in a special register held by Consob. The engagement to audit the annual and half-year financial statements on the  auditing firm and its fee is conferred by the Shareholders Meeting under reasoned proposal of the Board of Statutory Auditors.

PricewaterhouseCoopers is Eni’s current auditing firm, and Mr. Pierangelo Schiavi is the partner in charge of the audit.   

The Shareholders Meeting of Eni S.p.A. of May 24, 2007, indeed, resolved the extension for the three financial year term 2007-2009 of the engagement conferred by the Shareholders Meeting of Eni S.p.A. of June 1, 2001 and later renewed on May 28, 2004.

PricewaterhouseCoopers is also the principal external auditor of the Group.

In performing their activities, external auditors have access to information, to electronic and on paper, data, to files and other evidence as well as to the assets of the company and its subsidiaries.

The “Regulation for the audit of financial statements‘ of April 24, 2008, approved by the Board of Statutory Auditors and the Board of Directors, under the positive opinion of the Internal Control Committee, contains the general reference principles of the engagement conferment and revocation, disciplines relations between the principal external auditors and secondary auditors, independence and causes of incompatibility, responsibilities and disclosure duties of external auditors, regulation of information flows towards the company, Consob and SEC.
In order to preserve the independence of external auditors, Eni’s internal rules provide a monitoring system for “non-audit‘ services, prescribing in particular that the Eni’s principal external auditor and its affiliates must not be engaged for services other than audit and audit-related services. This provision can be waived under rare and motivated circumstances with regard to certain services that are not prohibited by Consob and SOA and that can be awarded subject to approval by the Board of Directors of companies involved, upon favorable opinion of their respective Board of Statutory Auditors and of Eni’s Board of Statutory Auditors in case of services not provided by specific laws. Eni’s Board of Statutory Auditors must be informed of all engagements of the principal external auditors by Eni’s Group companies.

The auditors reports on the financial statements of Eni are available in Publications area.

PriceWaterhouseCoopers has given the Assurance Statement on the Sustainability Report.