Internal Control system

Pirelli’s internal control system has been developed as at pursuing:

  • the values of substantial and procedural fairness, transparency and accountability;
  • the dependability of accounting and management data and financial information; 
  • the compliance with laws and regulations.

Pirelli & C. and the Pirelli Group’s internal control system in general is set up to guarantee that correct information is provided and adequate control of all Group activities is implemented, with a special focus on areas considered potentially at risk.

The internal control system is first of all a “management” tool, in that it is useful and necessary for the Board of Directors, executive directors and managers in general for correctly and effectively performing the tasks assigned them. The internal control system permits monitoring of compliance with the rules and procedures governing performance of all the Company’s business activities.

Pirelli’s internal control system has been developed as a direct process aimed at pursuing the values of substantial and procedural fairness, transparency and accountability, guaranteeing: efficiency, transparency and traceability of transactions and management activities in general; dependability of accounting and management data and financial information; compliance with laws and regulations; protection of the company’s integrity, also in order to prevent fraud damaging the Company and the financial markets.

The key rules underlying the Company’s internal control system are: (i) separation of roles in performance of the principal activities involved in individual operative processes; (ii) traceability and constant visibility of choices; (iii) management of decision-making processes on the basis of objective criteria.