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Auditing firm

External auditing is entrusted in accordance with the law to an independent auditing firm entered in the relevant register and appointed by the Shareholders' Meeting on the reasoned proposal of the Board of Statutory Auditors.
On the proposal of the Board of Statutory Auditors, the Shareholders' Meeting of Snam of 24 April 2018 conferred the appointment: (i) for the external audit of the financial statements for the year and the consolidated financial statements; (ii) for verifying, during the course of the financial year, the correct keeping of the company accounts and correct recording of the operating events in the accounts; and (iii) the limited audit of the accounts of the half-yearly report, on the independent auditing firm PricewaterhouseCoopers S.p.A. for FYs 2018-2026. The same Shareholders’ Meeting, after having consulted with the Board of Statutory Auditors, resolved the mutual termination of the appointment conferred in April 2010 on the independent auditing firm EY S.p.A., in office, therefore, until approval of the financial statements for the year ended on 31 December 2017.
The company appointed to perform the external audit of the accounts of Snam and the consolidated financial statements has a similar appointment for the main subsidiaries.
 

PricewaterhouseCoopers S.p.A. 
 

Giulio Grandi    Partner: Giulio Grandi
   
Via Monterosa 91,
20149 Milan
https://www.pwc.com/it/it.html

Key clients (present and past), in addition to the Snam Group:
ACEA Group, Italgas Group, Edison Group, A2A Group, Saras Group, ENEL Trade, MM SpA, Loro Piana Group , Falck Group and the Italian subsidiaries of the British Gas Group and the Sasol Group.

The reports of the independent auditing firm are available for consultation together with the financial statements for the year and the half-yearly reports on the page Financial statements and reports.
The fees pertaining to FY 2017, due to the independent auditing firm EY S.p.A. for services supplied to the parent company Snam S.p.A., its subsidiaries and the companies under joint control, as indicated in the 2017 Annual Financial Report, are shown below: 

(€ thousands)

Service

Service provider

Beneficiary

Fees

Auditing (1)

Auditor of the Parent Company

Parent Company

199

 

Auditor of the Parent Company

Subsidiaries (2)

238

 

Network of the Auditor of the Parent Company

Subsidiaries (3)

305

Attestation services (3)

Auditor of the Parent Company

Parent Company

422

 

Auditor of the Parent Company

Subsidiaries

27

     

1,191

 

(1)    The auditing of the accounts mainly comprises: (i) the auditing of the consolidated financial statements and the financial statements for the year of Snam S.p.A., the subsidiaries and companies under joint control; (ii) the limited audit of the half-yearly financial report; (iii) the accounting checks performed during the financial year in accordance with Art. 14, letter b of Italian Legislative Decree no. 39/2010; (iv) the checks performed in compliance with international standard on auditing ISA 600; (v) the certification of income in accordance with AEEGSI resolutions no. 514/2013/R/gas (Natural gas transmission and dispatching), no. 438/2013/R/gas (Liquefied natural gas regasification) and no. 531/2014/R/gas (Natural gas storage); (vi) the verification of the annual reports in accordance with the Consolidated Accounting Unbundling Rule (TIUC); and (vii) the verification of the compliance of the Sustainability Report.
(2) Of which 253 thousand euros relative to companies under joint control.
(3) The certification services mainly regard: (i) the audit of the financial reporting control system; (ii) comfort letters connected with the issues of bonds; (iii) the limited audit of the directors’ report in accordance with Art. 2433-bis, subsection 5 of the Italian Civil Code.
 

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updated
14 May 2018 - 12:09 CEST