Page 253 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Report of the Board of Statutory Auditors on the Separate Financial Statements 251

an analysis of the Company’s investments, fixed assets and financial
situation.
On the basis of the above, acknowledging Reconta Ernst & Young’s
audit report on the financial statements and within its responsibilities,
the Board of Statutory Auditors hereby states that it has not identified
any matters which may prevent the approval of the annual financial
statements for the year ended 31 December 2014 prepared by the
Board of Directors, and recommends the Shareholders’ Meeting to
approve such financial statements.
Concerning the allocation of net income for the year, which as stated
above amounts to € 38,827,033.27, the Board of Statutory Auditors
agrees with the recommendation of the Board of Directors to allocate
€ 1,941,351.66 pursuant to article 2430 of the Italian civil code and
the balance of € 36,885,681.61 in accordance with the resolutions to
be adopted by the Shareholders’ Meeting.
THE GROUP’S CONSOLIDATED FINANCIAL STATEMENTS
As is known, the responsibility for the audit of the consolidated
financial statements falls to the Bodies or parties to which the audit of
the annual financial statements of the parent company is assigned
(article 41, paragraph 3 of Legislative Decree no. 127 of 9 April
1991), which in the case of companies required to prepare
consolidated financial statements (article 25 of Legislative Decree no.
127 of 9 April 1991) is not the Board of Statutory Auditors but the
independent auditor or auditing firm engaged to perform the legal
audit (Reconta Ernst & Young in the case in question), and this