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Banca d’Italia The Banca d’Italia is the Italian central bank. As such, it carries out functions of credit and financial surveillance, issuing, market supervision and competition protection, analysis, research and study on economic and institutional issues, as well as acting as the state treasury. Together with the European Central Bank, it oversees the payment systems and provides an economic consultative services to constitutional bodies. Balance Sheet A mandatory accounting document showing the assets and liabilities at the date of the financial statements that make up the assets of the company and which shows their balance (net assets). It is set out in a form which by convention shows assets on the left and liabilities on the right. The balance sheet, the income statement and the notes comprise the annual report for the period. Benchmark Reference parameters such as category indices or market indices that summarise the trend of the markets in which the fund invests.Asset management companies indicate them in relation to management objectives, risk profile and expected income, outlining them specifically in the fund documentation. Best Practice In general, identifies behaviour measured against the best known standard within a certain technical or professional area. Board of Directors The board members are called directors, and are elected by the shareholders. They are responsible for the overall running of the company and for corporate policy. Board of Statutory Auditors The main obligations of the board of statutory auditors include: checks on the administration of the company and its observation of the law and memorandum and articles of association, ascertaining that correct accounting practices are used, checking that the balance sheet matches the results on the books, etc. Brand The symbol or the name that distinguishes a company’s product from other similar products. |
