Internal control and risk management system
The internal control and risk management system comprises the set of rules, procedures and organisational structures that grant Waste Italia Group a healthy, correct and coherent management of the business with its set objectives as well as identifying, preventing and managing, as far as possible, financial and operational risks to the detriment of the Company.
The Board of Directors is in fact responsible for the internal control and risk management system, establishing its guidelines and management of business risks, and verifying its effectiveness with the Control and Risk Committee and the Internal Control Manager.
Waste Italia Group has adopted organizational and information systems that are appropriate for ensuring, as a whole, the monitoring of the administrative system, the adequacy and reliability of accounting records and compliance with procedures by the various business functions.
The key components of the internal control system and the tools to safeguard operating, compliance and reporting targets are:
- Synergy between the various functions to which the responsibilities of control are assigned. The heads of each business line, ASA, sub-ASA and management have a duty to design, manage and monitor the effective operation of the control system within their sphere of responsibility.
- Personnel policy based on the principles of transparency, dignity, health, freedom, equality of workers and skills development;
- Control and monitoring activities including the setting-up of planning phases, management control, reporting, performance reviews as well as regular management meetings called by the chairman and the CEO;
Information and communication
Information is identified, collected and disseminated in the manner and within the time which enables everyone to properly fulfil their responsibilities. They are managed with information systems that are constantly monitored and updated and are disseminated to various levels in accordance with the objectives and needs of the business including through special information tools. Code of Ethics updated in accordance with changes in the organisational structure and business and the Organisation, Management and Control Model 231 where specific principles of conduct are set out.