Moncler - Annual Report 2024

Moncler Group | Annual Report 2024 492 Moncler Group | Annual Report 2024 493

Deloitte & Touche under Article 11 of EU Regulation 537/2014 and issued on 14

March 2025, and found that the report did not reveal any significant deficiencies

in the internal control system with regard to the financial reporting process. The

content of that report was then discussed and investigated further during the

periodic exchanges of information between the Board of Statutory Auditors and

the external auditing firm.

5.3 Sustainability reporting process

The Board of Statutory Auditors recalls that, starting from the financial year 2024,

pursuant to Legislative Decree 125/2024 transposing the CSRD, the Company is

required to prepare and include sustainability reporting ("Sustainability

Reporting") in a special section of the Board of Directors’ Report.

As provided for in Article 10, paragraph 1 of Legislative Decree 125/2024, the

Board of Statutory Auditors, within the framework of performing the functions

assigned to it by the regulations, monitored compliance with the provisions of

Legislative Decree 125/2024. In particular, it monitored compliance with the

provisions governing the preparation and publication of Sustainability Reporting,

also taking into account the provisions of Regulation (EU) 2020/852 (so-called

Taxonomy Regulation). The Board of Statutory Auditors also supervised the

process of producing the information included in the Sustainability Report.

As part of its supervisory activities, including by attending meetings of the Board

and Board Committees, the Board of Statutory Auditors noted that during 2024,

the Company, with the support of an external consultant, worked on the

development of an internal control system for sustainability (ICSS), in compliance

with the European Sustainability Reporting Standards ("ESRS") (prepared by

EFRAG and issued by the European Commission under Commission Delegated

Regulation (EU) 2023/2772).

The project included a first phase dedicated to defining the governance model of

the ICSS

Subsequently the processes roles and responsibilities operating model

supporting tools information flows and coordination methods between the

Sustainability Function and the other corporate functions involved in the

sustainability information gathering process were identified

contained in the notes to the consolidated financial statements, when extracted

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the corresponding information presented in the consolidated financial

statements in XHTML format due to certain technical limitations”.

 issued a declaration of consistency on the Board of Directors' Report (which

accompanies the annual financial statements and the consolidated financial

statements as of 31 December 2024) and of certain specific information

contained in the Report on Corporate Governance and Ownership Structures

indicated in Article 123-bis, paragraph 4, of the TUF, with the annual and

consolidated financial statements;

 issued a declaration of consistency, which shows that the Board of Directors'

Report accompanying the annual financial statements and the consolidated

financial statements as of 31 December 2024, excluding the section on

sustainability reporting, and the specific information in the Report on Corporate

Governance and Ownership indicated in Article 123-bis, paragraph 4 of the

TUF, was prepared in accordance with the provisions of law;

 issued a declaration on the conformity to law of the Board of Directors' Report,

excluding the section on sustainability reporting, and of some specific

information in the Report on Corporate Governance and Ownership indicated

in Article 123-bis, paragraph 4 of the TUF;

 declared that they had nothing to report, in terms of any significant errors in the

Board of Directors' Report, on the basis of their knowledge and understanding

of the business and its context acquired during the course of the audit activity.

After attending the meetings of the Control, Risks and Sustainability Committee,

which were attended by the Financial Reporting Officer and the managers of the

independent auditors, the Board of Statutory Auditors has no observations to make

as to the proper use of the accounting standards or their consistent use in the

preparation of the consolidated financial report.

On 14 March 2024 the External Auditing Firm also gave the Board of Statutory

Auditors a supplementary report as required by Article 11 of Regulation EU No

5372014 In an annex to that report the external audit firm also gave the Board of

Statutory Auditors a declaration on independence as required by Article 6 of

Regulation EU No 5372014 which did not reveal any situation that could

compromise independence In accordance with the provisions of Article 19

At the same time, the scope of application of the ICSS was defined through an

analysis based on the potential risk of misreporting, developed on four evaluation

drivers, which made it possible to categorise the indicators being reported into

differentiated risk levels and to identify the Group companies that contribute most

to the disclosures.

Starting from 2025, the Internal Audit Department will carry out independent

testing on the ICSS, in line with the approach adopted for financial reporting, with

the aim of verifying the adequacy and proper functioning of controls.

The Board of Statutory Auditors verified the approval of the Sustainability Report

by the Board of Directors on 13 February 2025.

With reference to the certification of the Sustainability Report, the Board of

Statutory Auditors had the opportunity to verify the process that led Moncler to

opt for the temporary provision under Article 18 of Legislative Decree 125/2024.

Deloitte & Touche, which had been given a nine-year engagement by the

Shareholders' Meeting of April 2021 to carry out the activities referred to in

Legislative Decree 254/2016 (so-called NFS), is therefore the company appointed

to issue Sustainability Reporting certification.

Deloitte & Touche issued the Sustainability Reporting certification required under

Article 8, paragraph 10 of Legislative Decree 254/2016 on 14 March 2025, the

content of which confirms the information exchanged in previous discussions.

In that report, Deloitte & Touche attested that on the basis of its work, nothing had

come to its attention that would lead it to consider that the Sustainability Reporting

had not been drafted, in all its material aspects, in accordance with the ESRS and

that the information on the Taxonomy, provided in the Sustainability Reporting

had not been drafted, in all its material aspects, in compliance with Article 8 of the

Taxonomy Regulation.

The Board of Statutory Auditors observed, in turn, that on the basis of its activities

it had not received any indications of any elements of non-conformity to the

regulatory provisions on sustainability reporting.

6. Legal auditing of the accounts (points 4, 7, 8 and 16 of Consob Communication

No. 1025564/01)

6.1 Activities of the Board of Statutory Auditors in the 2024 financial year

The mandate for the legal audit of the Company’s financial statements and of the

Group’s consolidated financial report was granted to the external auditing firm

Deloitte & Touche on 21 April 2021, for the nine-year period 2022-2030; during

2024 the same auditing firm also checked that the company accounts had been duly

kept, and that the management events had been correctly reported in the accounting

records.

In accordance with Article 19 of Legislative Decree 39/2010, the Board of

Statutory Auditors in its capacity as the “Internal Control and Accounts Auditing

Committee” performed the required oversight of the work of the External Auditing

Firm, within the limits required by the applicable regulations.

During the year, the Board held meetings with the managers of the external

auditing firm as required by Article 150, paragraph 3 of the TUF. In the context of

its supervisory role (Article 19 of Legislative Decree 39/2010) the Board of

statutory auditors acquired information from Deloitte & Touche with reference to

the planning and execution of the audit activity. During the meetings, appropriate

exchanges of data and information relevant to the performance of their respective

duties were carried out, and no issue which requires a mention in this report was

raised.

On 14 March 2025 the auditing firm issued reports pursuant to articles 14 and 16

of legislative decree 39/2010, for the separate financial statements and for the

consolidated financial report to 31 December 2024. The content of the reports

confirms the information exchanged in previous discussions.

In particular, the external auditing firm, in its reports:

 gave an opinion which indicates that the Separate and the Consolidated

Financial Statements of Moncler provide a true and accurate representation of

the financial and equity situation of Moncler and of the Group to 31 December

2024, and of the profit and loss result and the cash flow for the year ending on

the same date, in accordance with the International Financial Reporting

Standards adopted by the European Union and with the provisions issued in

implementation of Article 9 of Legislative Decree 38/05;

 issued an opinion on the conformity of the separate and consolidated financial

statements with the provisions of EU Regulation 2019/815 (“ESEF

Regulation”), stating the following: “We are aware that certain information