Page 248 - ENAV eng_Relazione_Finanziaria_Annuale_2014

246 ENAV – 2014 Financial Statements

statements prepared in accordance with International Financial
Reporting Standards, and as required by those standards this led to a
retrospective restatement of the figures included in the financial
statements for the years ended prior to 1 January 2013, the established
transition date, and the preparation of an opening IFRS balance sheet
at that date.
In establishing the carrying amounts on transition of assets and
liabilities in ENAV’s annual financial statements, in accordance with
IFRS 1 First-time Adoption of International Financial Reporting
Standards the Company elected for consistency with the amounts
stated in the consolidated financial statements, determined with
reference to the ENAV Group’s transition date; the amounts reported
in the financial statements have therefore been determined on a basis
consistent with the amounts determined on transition by the ENAV
Group.
The transition process involved ENAV and its subsidiary Techno Sky
and required the considerable involvement of the individual
administrative and accounting structures, which operated in working
groups set up specifically for the purpose.
The transition operations were audited by Reconta Ernst & Young,
which pursuant to articles 2409-bis to 2409-septies of the Italian civil
code has been engaged as legal auditors for the three-year period
2013-2015 and to issue an opinion on the financial statements of the
parent company and its subsidiaries and on the consolidated financial
statements.