The Board of statutory auditors supervises the Group’s correct administration, assessing the adequacy of the organisation, administration and accounting structure adopted by directors.

Its composition is governed by art. 26 of the By-laws which envisages that each shareholder that either alone or together with other shareholders possesses at least 3% of voting shares in the Ordinary shareholders’ meeting may present a list of candidates for appointment.

The local authorities and consortia incorporated in accordance with art. 31 of Legislative decree no. 267/2000, as well as the consortia or limited companies controlled by said consortia may present one single list until such time as the company is no longer primarily government-owned.

Minority shareholders are protected by appointment mechanisms which permit them to elect one Standing Auditor (from 2008 the chairman is now elected by the minority shareholders) and one alternate auditor.

Hera’s Board of statutory auditors is composed of 5 members (3 standing and 2 alternates) who meet the requirements of integrity and professionalism established by legislation:

The term of the Board of statutory auditors is 3 financial years. The current term shall conclude on the date of the shareholders’ meeting to approve the financial statements as at 31st December 2013.

Page updated 22 March 2012

Report of statutory auditors

• Report of the board of statutory auditors to the 2011 consolidated financial statement (171 Kb - Pdf)
• Report of the board of statutory auditors to the 2010 consolidated financial statement (275 Kb - Pdf)
• Report of the board of statutory auditors to the 2009 consolidated financial statement (46 Kb - Pdf)
• Report of the board of statutory auditors to the 2008 consolidated financial statement (24 Kb - Pdf)
• Report of the board of statutory auditors to the 2007 consolidated financial statement (343 Kb - Pdf)
• Report of the board of statutory auditors to the 2006 consolidated financial statement (28 Kb - Pdf)