Board of Statutory Auditors
The Board od Statutory Auditors, appointed by the Shareholders' Meeting, is responsible for overseeing effective management. More specifically, it is responsible for overseeing compliance with laws, regulations and the Articles of Association, the adequacy of the UniCredit's organizational and accounting structure, the risks management and control system, the external auditing of the annual individual and consolidated accounts, the independence of the external audit firm, the financial disclosures process and compliance with the provisions on the disclosure of non-financial information.
Our Board of Statutory Auditors consists of five permanent Auditors and four substitute Auditors. Two permanent Statutory Auditors and two substitute Statutory Auditors are appointed by minorities and the Chairman of the Board of Statutory Auditors is appointed by the Shareholders' Meeting among the Statutory Auditors elected by the minorities. Permanent and substitute Statutory Auditors may be re-elected.
At least two permanent Auditor and at least one substitute Auditor must be enrolled with the Legal Auditors Register and must have practiced legal auditing of accounts for a period of three years in total experience. Statutory Auditors who are not enrolled with the Legal Auditors Register must have at least three years' overall experience in the exercise of particular and specific activities.
The Board of Statutory Auditors' members currently in office were appointed by the Ordinary Shareholders' Meeting of April 11, 2019 and their term of office will expire on the date of the Shareholders' Meeting called to approve the 2021 financial statements. In filing slates for renewal of the control body for the financial years 2019-2011, shareholders were invited to take into account the results of an analysis carried out by the UniCredit Board of Directors, in agreement with the outgoing Board of Statutory Auditors, on the body's composition deemed optimal to ensure the proper performance of the functions assigned to it, due in particular to the increasing complexity of the Italian and European provisions concerning requirements for serving as a bank corporate officers.
Starting from its 2019 renewal, the 231 Supervisory Body's duties are carried out by the Board of Statutory Auditors according to the Legislative Decree no. 231 dated June 8, 2001.
Independence as per Code and TUF
Permanent Statutory Auditors
Ciro DI CARLUCCIO
With notice received on April 28, 2020, Mr. Roberto Franchini resigned, with immediate effect, from the position of substitute Statutory Auditor held in the Company, for professional reasons. A new substitute Statutory Auditor, will be appointed, in accordance with the law and the Articles of Association, at the next Shareholders' Meeting.
In general, further information regarding the Board of Statutory Auditors is available in the Corporate Governance Report concerning each year.