Auditing is carried out in accordance with the law by a company enrolled in the Register of Statutory Auditors maintained by the Italian Ministry of Economy and Finance.
KPMG S.p.A. was appointed as independent auditor for the years 2018-2026 by the Shareholders' Meeting held on 23 April 2018; consequently, its mandate shall expire at the date of the Shareholders' Meeting convened to approve the financial statements at 31 December 2026.
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During the course of the year, the Independent Auditors have the duty to verify:
• that the company accounts are properly maintained and all operations are properly accounted for in the accounting records;
• that the Separate Financial Statements and the Consolidated Financial Statements match the results of the accounting records and of the inspections carried out and comply with the rules that govern them.
KPMG S.p.A. is also tasked with performing a review of the interim condensed interim Consolidated Financial Statements.
While carrying out its activities, the Independent Auditors have access to all documentary and electronic information and data, as well as the archives and the assets of the Company and of the Companies of the Group. In order to preserve the independence of the Independent Auditors, a note was drawn up governing the appointment of the audit company and the entities which are part of its network by Group companies which provides for, in particular, depending on the type of the assignment, a binding opinion by the Board of Statutory Auditors.
- Audit FeesBased on Article 149-duodecies of the Issuers' Regulation, the 2019 costs relating to the services performed by the independent auditor KPMG S.p.A., the main auditor of the ERG Group, and by the companies belonging to its related network, are shown below.
The preparation of the table is in line with the "Procedure for audit engagements in the companies of the ERG Group and monitoring of additional services".
Audit services comprise the complete audit of the separate and Consolidated financial statements and the audit of the reporting package of the parent for the purposes of the preparation of the Consolidated Financial Statements of the ultimate parent.
Non-audit services refer mainly to:
• attestation services for EUR 40 thousand relating to the prospectus on the EMTM;
• other services for EUR 145 thousand relating to the voluntarily agreed checks required on the quarterly data of the subsidiaries for EUR 115 thousand and relating to the Audit of "non-financial information" and of the sustainability report for EUR 30 thousand;
• examination of the compliance of the separate annual accounts (unbundling) for EUR 54 thousand;
• tax returns for EUR 21 thousand.
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Type of service Party that performed the service Recipient 2019
Statutory audit Auditor of the parent Parent company 266 Auditor of the parent Subsidiaries 838 Network of the parent's auditor Subsidiaries 124
Total Audit Services
1,228 Non-audit services Tax advisory services Subsidiaries - Auditor of the parent Parent company 189 Network of the parent's auditor Parent company - Network of the parent's auditor Subsidiaries - Auditor of the parent Subsidiaries 72
Total non-audit services
Souce: NOTE 39 - AUDIT FEES from ERG 2019 CONSOLIDATED FINANCIAL STATEMENTS
Page updated at 11 Aug 2020