It should also be added that the financial reporting process can only be read as an expression of the broader process of corporate governance, thus connecting the issue of risk in the choices made regarding the application of accounting principles with the issue of risk inherent in the forms of corporate governance chosen, and their consequent practical application within the issuers.

To what extent the consultancy hypothesis is proposed to provide a more detailed information on the quantitative aspects in the companies to be monitored, examining the qualitative aspects relating to the corporate governance of the same, so as to allow the investor, and a better perception of the profile of risk / return of the issuer.All that through a better understanding of the same profiles connected to the choices made when correctly applying the accounting principles and the principles of corporate governance inspired by best practices, is an “active shareholding” activity by taking initiatives of discussion and active participation with the ultimate aim of exercising the right to vote, also through direct participation in the shareholders’ meeting or with the proxies received from institutional investors.

All this in order to direct the corporate activity to the advantage and in the interest of those who lend and invest their assets in the companies; as well as directing them to behaviors that combine the principles of economic efficiency with ethical ones, also by complying with general rules such as the observance of the rights linked to the protection of the person and of social utility.

With reference then to the aspect relative to the adherence of the corporate governance of the Social Security funds of the self-employed with respect to the best practices adopted, a series of indicators (proxy) can be identified that are able to highlight overall and to a synthetic extent the strong (high) compliance , medium or low compared to internationally recognized behaviors and good practices.

It should be noted, in fact, that based on the information available from individual issuers, in-depth investigations were carried out in 4 main areas of investigation: 1)     governance systems, with specific focus on behavior and control by the Board; 2)     composition of the Boards, Committees and Senior Management;3)     functioning of government bodies, committees and senior management, as well as control bodies;4)     remuneration systems, to verify the adequacy and transparency of the remuneration systems in place for the Board, management and delegates.

Given this and in compliance with the requirements of the respective Board of Directors, the consultancy can be carried out with the following services.

  • Provide adequate independent consultancy support to the board of directors or to an eventual investment committee if present, Active Shareholders – Shareholders’ Meetings;
  • Perform a financial – economic screening on a weekly or monthly basis, monitoring the securities portfolio,
  • Independent advice on invested financial assets;
  • Reformulation and assistance regarding the renewal of governance;
  • Penal-preventive and anti-corruption organization, MOG, art. 1 Legislative Decree n. 231/2001;

All with the aim of:

  • Confront on a proposal of management models that can guarantee a more efficient management and able to monitor investment risks;
  • Identify any structural and organizational deficiencies for the management and diversification of risk in investments, improve the relationship between direct investment and managed, qualify the expertise of human resources to which strategic and control decisions in the company;
  • Improve the communication to the subscribers about the investment choices made by the INSTITUTIONS;
  • Monitor the analysis of reports sent by the managers with an efficient compliance-monitoring system, achieving better economies of scale and independent assistance in meetings with the managers;
  • Control of risks related to GOVERNANCE DIRECTIVE (EU) 2017/828 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 17 May 2017 which amends Directive 2007/36 / EC;
  • Managing relations with supervisory bodies (ENAC) through the adoption of conscious and coherent strategies, risk governance and adequate organizational structures;
  • Reduction of costs (often hidden) and often unjustified, which reduce the expected return;
  • Combining investment choices with civil and actuarial financial statements