Internal Control System

The internal control system is the set of rules, procedures and organisational structures aimed at ensuring sound and correct  management consistent with the company’s established goals, through an adequate process of identification, measurement, management and monitoring of the main risks. An effective internal control system contributes to safeguarding the company’s assets as well as the efficiency and effectiveness of business transactions, the reliability of financial information and compliance with laws and regulations.

The system is subject to regular reviews and updates and each specific modification is integrated by the company’s Code of Ethics which identifies as fundamental values: the formal and substantive legitimacy of the behaviour of members of corporate bodies and of employees at any organisational level; accounting transparency; and the spreading of a corporate culture based on internal controls.

In the context of its corporate activities, in order to guarantee sound and correct management conditions consistent with its stated goals and objectives, Eni is committed to preventing risks and ensuring that its choices and management activities are also focused on reducing the probability that negative events may occur, and consequently their eventual impact. To this end, Eni adopts risk management strategies in proportion to the nature and type of risk; the latter include financial, industrial, regulatory/compliance, as well as certain strategic and operational risks, such as country risks in Oil & Gas activities and those associated with the implementation of hydrocarbon exploration and production.

The ways in which management identifies, assesses, manages and monitors the specific risks associated with the company’s activities are governed by a range regulatory, procedural and organisational tools included in the company's regulatory system; which, being given permeated by a culture of risk management, facilitate the containment of corporate risks. Moreover, the development of risk assessment programmes in specific areas both reinforces management sensitivity to risk management and contributes to the improvement and efficacy of decision-making processes.