Internal Control System

The Internal Control System adopted by SNAITECH constitutes the set of rules, procedures and organizational structures aimed at allowing the business to be run in a sound and correct manner in line with pre-established objectives, through an appropriate process for the identification, measurement, management and monitoring of the group’s main risks.

The implementation of the system entailed:

• the identification of the rules of corporate governance to be honored by all collaborators in their day-to-day conduct;
• the creation and adoption of ongoing system for monitoring managerial practice through operating procedures and planning and control systems;
• the definition of a system of mandates, functions and representation powers capable of fostering conduct that is in line with the organizational structure.

SNAITECH:

• disseminates, at all levels of the group, the culture calling for an adequate internal control system which represents a key guidance tool for the achievement of the group’s objectives;
• develops the principle of responsibility on the part of each person subject to control, putting in place a structure that is appropriate for its business in the various areas in which it operates;
• follows, with regard to its internal control system, an approach that is increasingly focused on the risks encountered at the various levels of the business with the goal of developing its own model for the identication and management of risks
• assesses the adequacy and proper functioning of the group’s control system through autonomous and independent activities carried out by the la Internal Audit function.