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External auditors

03/21/2016 - 10:00 AM

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The Shareholders’ Meeting held on April 29, 2010 has appointed PricewaterhouseCoopers S.p.A., on the basis of a reasoned proposal by the Board of Statutory Auditors for 2010 Shareholders' Meeting, for the auditing of the separate financial statements, the consolidated financial statements, limited auditing of the half-yearly condensed consolidated financial statements, the auditing of Form 20-F and the attestation on the internal controls in accordance with Section 404 of the Sarbanes-Oxley Act, for every financial year for the period 2010-2018.

The compensation for the mandate, for each year, is determined in such a manner as to guarantee the quality and reliability of the work, as well as the auditor’s independence. The detail, before VAT, is as follows:

Mandate Hours Fees (Euros)
Auditing of the individual financial statements of Telecom Italia S.p.A.(*) 12,920 762,100
Auditing of the consolidated financial statements of the Telecom Italia Group (**) 2,360 146,800
Limited auditing of the abbreviated half-yearly financial statements of the Telecom Italia Group 2,755 151,100
Auditing of Form 20-F prepared in accordance with SEC rules 2,333 127,900
Audit of internal controls pursuant to Section 404 of the Sarbanes-Oxley Act (**) 12,510
704,000
TOTAL 32,878 1,891,900

(*) Includes the control activity referred to in Article 155, paragraph 1, sub-paragraph a) of Legislative Decree 58/1998 and the activities provided for by the tax rules in question under the charge of the audit company in relation to the 770 and Unico forms.

(**) Includes the adjustment of the External Auditors compensation, proposed by the Shareholders’ Meeting held on April 12, 2011, due to the increased activity resulting from the changes in Group companies structure.Reasoned proposal for 2011 Shareholders' Meeting

Starting from May 6, 2015, the Partner in charge of the mandate has been identified by PricewaterhouseCoopers S.p.A. as Mr. Francesco Ferrara, who replaces Mr. Paolo Caccini.
Apart from Telecom Italia, Mr. Francesco Ferrara's other assignments are the following:

  • Sisal Group SpA and subsidiaries
  • Objectway Financial Software SpA and subsidiaries
  • Società Europea di Edizioni SpA
  • PBF SpA
  • Istituto Italiano di Arti Grafiche SpA
  • Società Holding Industriale di Grafica SpA
  • Arvato Services Italia SpA
  • Enerpoint SpA (in liquidation)
  • Executive SpA
  • The British School of Milan Srl
  • Editoriale Il Cittadino Srl
  • Innext Srl