Moncler Group | Annual Report 2024 490 Moncler Group | Annual Report 2024 491

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information exchanged in the course of discussions and did not reveal any issue to

be mentioned in this Report.

5. Oversight of the adequacy of the internal control and risk management

system, and of the administration and accounting system; monitoring of

the financial and non-financial reporting process (points 11, 13 and 14 of

Consob Communication No. 1025564/01)

5.1 Internal control and risk management system (ICRMS)

The Report on Corporate Governance and Ownership Structure describes the main

characteristics of the system for internal control and risk management.

The ICRMS is the set of rules, procedures and organisational structures, which

operates in order to allow the effective functioning of the Company and of the

Group and in order to identify, manage and monitor the main risks to which they

are exposed. The ICRMS is an integrated system that involves the whole of the

organisational structure; the bodies of the Company and its departments, including

the control functions, are required to make a coordinated and interdependent

contribution to the functioning of this system.

The Board of Statutory Auditors oversaw the adequacy of the ICRMS adopted by

the Company and the Group and checked that it functioned correctly. In particular,

the Board of Statutory Auditors:

(i) noted the adequacy rating given by the Board of Directors in relation to the

ICRMS, after consulting the control, Risks And Sustainability Committee;

in this regard, refer to the Report on Corporate Governance and Ownership

Structure;

(ii) examined the semi-annual report of the Control, Risks And Sustainability

Committee provided to assist the Board of Directors;

(iii) examined the documents summarising the assessment of the adequacy and

efficacy of the ICRMS, prepared by the Internal Audit Function;

(iv) attended all the meetings of the Control, Risks and Sustainability

Committee obtaining information about any project the Committee

considered appropriate to arrange or request in response to specific issues

v obtained knowledge of the trend in the organisational structures and

activities performed by the Internal Audit and Compliance Functions

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(vi) examined the reports on the work done by the Internal Audit and

Compliance Functions which were brought to the attention of the Control,

Risks and Sustainability Committee and of the Board of Directors;

(vii) verified the autonomy, independence and functionality of the Internal Audit

Function, and maintained and implemented adequate, regular connections

with that function;

(viii) examined the Audit Plan prepared by Internal Audit and approved by the

Board of Directors, observed the compliance with the Plan and received

information on the results of the audits and on the effective implementation

of any mitigating or corrective actions;

(ix) obtained information about the changes to the set of Group procedures;

(x) reviewed and discussed with the external auditing firm the content of the

additional report pursuant to Article 11 of Regulation (EU) 537/2014.

In light of the above, taking into account that the ICRMS is a constantly evolving

system, our analysis and the information we have obtained did not reveal anything

that would lead this Board to consider that the Company’s overall system of

internal controls and risk management is inadequate.

5.2 Administration and accounting system, and the financial reporting

process

With regard to the accounting and administration system and the financial

reporting process, the Board of Statutory Auditors oversaw the adequacy of the

mentioned system and its ability to report operations accurately.

The Board of Statutory Auditors performed its oversight activity by, inter alia,

examining the reports of the Financial Reporting Officer.

The Report on Corporate Governance and Ownership Structure describes the main

characteristics of the system.

The Board of Statutory Auditors held periodic meetings with the managers of the

independent auditors for the legally required exchange of information. Discussions

with the above managers to exchange information relevant to the performance of

our respective duties pursuant to Article 150 paragraph 3 of the TUF did not

reveal any issue that would require a mention in this report

At the meeting on 6 March 2025 the Board of Statutory Auditors examined the

content of the draft supplementary report prepared by the external auditing firm