In accordance with the law, the statutory auditing of Eni’s financial statements is entrusted to an external Audit Firm appointed by the Shareholders' Meeting, on a reasoned proposal of the Board of Statutory Auditors.
Acting upon the reasoned proposal of the Board of Statutory Auditors, Eni’s Shareholders' Meeting of 29 April 2010 approved the engagement of EY SpA ( formerly Ernst & Young SpA) for the 2010-2018 period to perform the following:
Riccardo Rossi will be the audit partner responsible for providing these services to Eni starting from the Consolidated Financial Statement 2017 of Eni. Reports of the Audit Firm containing its opinion on the financial statements of the Company are available in the Publications section of the website.
For providing the abovementioned auditing services for the 2010-2018 period EY SpA presented to Eni the following fees, totaling € 20,346,714.
|a. Auditing of the Company’s individual financial statements||166,898||11,351,734|
|b. Auditing of the consolidated financial statements||35,847||2,438,170|
|c. Verification, during the financial period, that the accounts are correctly kept||37,692||2,563,659|
|d. Limited audit of the semi-annual report||33,754||2,295,812|
|e. Verification of Form 20-F||24,955||1,697,339|
Eni S.p.A. and subsidiaries
of which, for statutory audit activities
of which, for SOX activities
of which, for additional services
Considering the significant time span covered by the assignment, it was envisaged to recognize EY SpA , adjustments of the fees in the presence of i) non-recurring and unforeseeable events at the time of the competition occurred during the financial year and ii) recurrent major activities of auditing review.
In carrying out its work, the Audit Firm shall have access to the information, data (both documentation and digital information), archives and property of the Company and its subsidiaries.
The "Rules on the auditing of financial statements", approved by the Board of Statutory Auditors and the Board of Directors - following the issuance of a favorable opinion by the Control and Risk Committee - set out the general principles pertaining to: the granting and revocation of the engagement; relations between the primary auditor of the Group and secondary auditors; the independence of the Audit Firm and causes for incompatibility; reporting responsibilities and obligations of the Audit Firm; and the regulation of information flows towards the Company and the SEC.
This regulatory instrument is under review as a result of the profound revision of sector legislation (1).
In the new regulatory framework of the statutory auditing, the Board of Statutory Auditors has been entrusted with the responsibility for the approval of additional assignments and extra work, subject to the opportunity for adequate disclosure to the Board of Directors.
The Board of Statutory Auditors of Eni SpA:
(1) Formed by: i) European Regulation no. 537/2014, ii) European Directive no. 56/2014 and iii) Legislative Decree No.135 / 2016 which transposed the Directive, thus updating the provisions of the Legislative Decree no. 39/2010 currently in force.
|Total fees2||31 December|
|All other fees||-||12|
2) Classification of services for the purpose of disclosure of the Annual Report on Form 20-F.
include professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements, including the audit on the Company’s internal control over financial reporting. The fees disclosed in this category include also services provided for by law and regulations such as services required by authorities and/or control bodies, or by national or supranational administrations.
include assurance and related services by the principal accountant that are reasonably related to the performance of the audit or review of the registrant’s financial statements and are not provided for by law and regulations. The fees disclosed in this category mainly include issue of comfort letters, and consultations concerning financial accounting and reporting standards, review of the sustainability report and the contractual verification of tariffs and billing costs.
include professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. The fees disclosed in this category mainly include fees billed for the assistance with compliance and reporting of income and value added taxes, assistance with assessment of new or changing tax regimes, tax consultancy in connection with merger and acquisition deals, services rendered in connection with tax refunds, assistance rendered on occasion of tax inspections and in connection with tax claims and recourses and assistance with assessing relevant rules, regulations and facts going into Eni correspondence with tax authorities.
All other fees:
include products and services provided by the principal accountant, different from services previously reported.
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