Remaining independent is a vital requirement for demonstrating to the public and to the control authorities our integrity and objectivity

The subject in charge of the legal auditing of the accounts of a company must be independent from it and must not be involved in any way in its decision-making processes (art. 10, Leg. decree n. 39/2010).

Independence is a key requisite for deserving the public’s trust in the reliability of the Auditor’s work, suitable for providing greater credibility to the financial information communicated by the company, and this feature is especially important when it concerns public-interest entities. Moreover, for the Auditor independence is the best tool for demonstrating his/her own integrity and objectivity.

In order to ensure auditor independence, the procedure implemented by TREVOR envisages:

  • A continuous learning process for professional staff and information courses for non-professional staff members;
  • Implementation of specific behaviour policies;
  • Implementation of specific monitoring measures to guarantee procedure compliance.

In particular, the monitoring measures implemented by TREVOR consist in the following:

  • the request, made to all partners, to confirm the independence requirement prior to presenting a proposal for the legal auditing of a new entity;
  • the creation and periodical updating of a database containing information regarding client entities;
  • the request and obtainment of the periodical confirmation of independence by the professional and non-professional staff with regard to the entities listed in the database;
  • the monitoring of any corporate offices taken on by the professional staff with non-client entities;
  • the monitoring of any business relations, financial interests, family relationships, taking on of corporate offices with client entities;
  • the preventive assessment of the acceptance of assignments other than legal auditing with client entities and non-client entities.

In order to guarantee the safeguarding of the independence requirement, TREVOR every six months updates the specifically created database so as to allow all of its partners, employees and consultants to ascertain the non-existence of any independence and incompatability situations.

TREVOR updates this database with the information regarding the corporate officers (Members of the Board of Directors and Board of Auditors) of its clients listed as public interest entities, their subsidiaries, controlling companies and companies under mutual control.

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