Terms of reference and spirit of the project

According to PricewaterhouseCoopers, the needs of the companies, but also those of the country, are in line with the objectives of efficiency, effectiveness, transparency, and legality, as foreseen in the integrated reference model proposed for the “System of Internal Control” in the CoSO Report.

If the integration between the referenced model for internal governance and that of a modern model were to be obtained, amplified and coherent to Corporate Governance, it would contribute to the recovery of a virtuous logic: the second one, better governance, means an improved reputation, which is fundamental for a better development.

If this awareness was to be acquired, also as a result of the outcomes of this project, it would support:

• A transmission of the belief that a better corporate governance system, with a more general mobilisation in its realisation, “pays off”;
• A recovery process of the fact that the values of integrity and personal and corporate ethics are fundamental, not only as social values, but also to guarantee the success of the company (in the CoSO Report these values are discussed in detail and are part of the foundation on which to base a system of “Internal Controls”);
• The birth of a new “democracy” within the Corporate Government, in which not only stockholders, small or big, but also all the interested subjects, either internally (personnel, executives, board members, etc) or externally, make up the new “citizens”, with rights and obligations, in an beneficial logic in which every subject “wins” because the companies is successful.