Internal Control System
The Internal Control and Risk Management System (ICRMS) consists of a set of tools, organizational structures, standards and corporate rules aimed at guaranteeing a type of management that contributes to the sustainable success of Elica S.p.A. through the effective identification, measurement, management and monitoring of the main risks.
Elica's ICRMS is structured on three control levels:
- first level: controls on the operating processes carried out by Group Management
- second level: controls to monitor and manage risks (operational, financial, compliance ones, etc.). To this end, the Risk & Compliance Director, the Manager in Charge (ex. L.262/05), the General Counsel, the Management Control and other control and monitoring figures (e.g. Health & Safety Head , Quality Head , DPO) work in close coordination;
- third level: independent and objective assurance on the adequacy and effective operation of the first and second levels of control and, in general, on risk management methods, performed by the Internal Audit team.
KPMG S.p.A. is entrusted with the task of legally auditing the accounts for the period 2015-2023, following the resolution of the Shareholders' Meeting dated 29 April 2015, which considered the Directors' Report to the Shareholders' Meeting - on the proposal for the appointment of the Auditing Firm for the nine-year period 2015-2023- , including the Board of Statutory Auditors' Proposal for assigning the task of account auditing.
PROCEDURES FOR TRANSACTIONS WITH RELATED PARTIES
Whistleblowing is the unprompted report by an individual (the "informer" or "whistleblower") of a wrongdoing committed within the company, which he or she witnessed in the course of his or her duties. The whistleblower can be an employee, or also a third party.
The European Directive on Whistleblowing (2019/1937) was implemented in Italy by Legislative Decree 24/2023 and has been in force since July 15, 2023.
As required by law, Elica shall provide a reporting channel and take all measures to ensure the confidentiality of the "whistleblower", in order to avoid retaliation. In the case of blatantly unfounded or defamatory reports, the company reserves the right to carry out disciplinary measures.