Half-yearly financial Report at June 30, 2013 - A2A

Half-yearly financial report at June 30, 2013Risks and uncertaintiesThe A2A Group has a risk assessment and reporting process based on the Enterprise RiskManagement method of the Committee of Sponsoring Organizations of the TreadwayCommission (COSO report), whose purpose is to make business risk management an integraland systematic part of management processes.216In 2011, Consob updated the Corporate Governance Code for Listed Companies, introducingthe subject of risk and the respective responsibilities of the various corporate bodies in thisrespect. In particular “… Each issuer shall adopt an internal control and risk managementsystem consisting of policies, procedures and organizational structures aimed at identifying,measuring, managing and monitoring the main risks…” (article 7.P.1). A2A had already defineda risk model in 2010 that takes account of the Group's characteristics, its multi-businessvocation and the sector to which it belongs. The Company has set up an action plan aimed onthe one hand at further developing the present risk model and on the other at consolidatingrisk management and mitigation in the process with the objective of further developing riskmanagement activities and integrating these into business processes.The risk assessment process is carried out on a periodic basis, and by involving all the businessstructures enables the most important risks to be identified and the relative controls andmitigation plans to be set up.Set out below is a description of the main risks and uncertainties to which the Group isexposed, considering the sectors in which it operates and the distinctive features of itsbusiness model.