The audit of the company accounts is carried out by an auditing firm appointed by the Shareholders' Meeting and chosen from the firms listed in the appropriate register kept by Consob.
The Shareholders' Meeting held on 29 April 2008 appointed Reconta Ernst&Young S.p.A. as external auditors of the statutory and consolidated financial statements and abbreviated halfyearly financial reports for the years 2008-2016. Pursuant to current law, the appointment was made at the reasoned proposal of the Board of Statutory Auditors after extensive in-depth technical-economic evaluation. This evaluation was performed taking into account a comparative overall analysis of the proposals received, with detailed comparison of (i) the costs and conditions of the mandate; (ii) the mix of personnel employed; (iii) the coverage of the territory and the skills and specific experience, and (iv) the fees proposed for work within the same perimeter.
The Board of Statutory Auditors kept the Committee for Internal Control and Corporate Governance constantly informed on the progress of the selection process.
Reconta Ernst&Young S.p.A. is the Italian organisation of the Ernst&Young network, which through the organisations present in the various countries in which the Group operates, has also been appointed to audit the accounts of the principal Pirelli Group companies.
Since June 2010, responsible member of the audit for Pirelli & C. is Dr. Pietro Carena.