Consob has closed the proceeding started on July 19, 2013 against Saipem with reference to "hypothesis of non-compliance with the accounting standards" of the separate and consolidated financial statements at December 31, 2012. Saipem itself announced this, explaining that the Commission took into account of the company press release of 28 October 2013.
In any case, the verification of compliance of the Directors' actions in preparing the consolidated and separate financial statements as at 31 December 2013 with the reference accounting standards remains valid - with particular regard to the methods of reporting the error detected in relation to the and consolidated financial year 2012 as well as the accounting of the related effects.
However, in its communication, Consob adds that "should the incorrect application of the international accounting standard emerge from the examination of the separate and consolidated financial statements as at 31 December 2013, this Commission will evaluate the further initiatives to be undertaken, including the possible adoption of measures envisaged by article 157, paragraph 2, of legislative decree 58/98”.
