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ITEN

Auditing firm

As required by law, auditing activities are assigned to an external auditing firm included in the relevant register and appointed by the shareholders based on a reasoned proposal from the Board of Statutory Auditors.

The Shareholders’ Meeting of 27 April 2010 awarded the following mandates to Reconta Ernst & Young S.p.A. for the financial years 2010-2018:

  • auditing of the separate and consolidated financial statements
  • regular checks throughout the year to ensure that company accounts are being properly kept and that events are being correctly recorded in the accounting ledgers
  • limited auditing of the Half-Year Report
 

Reconta Ernst & Young S.p.A.

Stefania Boschetti    Partner: Stefania Boschetti
 
   Corso Vittorio Emanuele II, 83
   10128 Torino (TO)
   http://www.ey.com/IT/it/Home
 
 
 
Main customers, in addition to Snam Group:
Fiat Group Automobiles, EXOR, Juventus, Prima Industrie, Fidia, Buzzi Unicem, Lavazza, TRW, La Stampa, Fondazione Agnelli, Giovanni Agnelli Sapaz

 

The auditing firm's reports are available in Snam's annual and half-year reports.

 

The annual fees owing to the External Auditors Reconta Ernst & Young S.p.A. for services provided to the Parent Company, Snam S.p.A, and to its subsidiaries and joint ventures, are shown below:

 

(€ thousands)

Service

Service provider

Beneficiary

Fees

Auditing (1)

Auditor of the Parent Company

Parent Company

71

 

Auditor of the Parent Company

Subsidiaries

424

Attestation services (2)

Auditor of the Parent Company

Parent Company

90

 

Auditor of the Parent Company

Subsidiaries

68

Other services (3)

Auditor of the Parent Company

Parent Company

297

 

Auditor of the Parent Company

Subsidiaries

 15

     

965

 

(1)    Auditing services essentially comprise: (i) auditing of the consolidated financial statements and the separate financial statements of Snam S.p.A. and of its subsidiaries and joint ventures; (ii) limited auditing of the Half-Year Report; (iii) regular accounting checks throughout the year pursuant to Article 155, paragraph 1 of Legislative Decree No. 58/1998; and (iv) checks performed in compliance with auditing standard ISA 600.

(2)    Attestation services include: (i) attestation of revenues pursuant to Electricity and Gas Authority Resolutions 166/05 (Natural gas transportation and dispatching), 178/05 (Liquefied natural gas regasification) and 50/06 (Natural gas storage); (ii) checks of annual reports pursuant to Electricity and Gas Authority Resolution 11/07; and (iii) attestations related to bond issues (comfort letters).

(3)    Other services involve: (i) Services relating to the auditing of the internal control system for the purpose of requirements pursuant to Law 262/2005; (ii) certification of conformity of the Sustainability Report; and (iii) voluntary checks of the financial statements prepared for the purpose of calculating the restriction on natural gas distribution revenues.

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updated
29 August 2016 - 17:56 CEST