Corporate Governance

Board of Auditors

The Board of Auditors is Rai Way's supervisory body and consists of three standing auditors and two substitute auditors. The Auditors are elected through a voting list system, on the basis of lists presented by Shareholders who, individually or with others, hold shares with voting rights that represent at least the percentage of share capital established under the regulations and rules in effect.

For more information about the powers of the Board of Auditors and the methods used to appoint its members, please refer to the Current By-laws (Italian version).

The Rai Way Board of Auditors currently in office, appointed by the Shareholders' Meeting on 23 April 2018, will serve until approval of the financial statements at 31 December 2020, and consists of the following Auditors.

Name   Role
Silvia Muzi   Chairman
Maria Giovanna Basile   Standing Auditor
Massimo Porfiri   Standing Auditor  
Nicoletta Mazzitelli   Substitute Auditor  
Paolo Siniscalco   Substitute Auditor 


Silvia Muzi

Born in Rome in 1969, she completed a Degree in Economics and Business from La Sapienza University of Rome in 1994. In 1996 she qualified as a Chartered Accountant and became an Independent Auditor in 1999. She began her career as the joint proprietor of a certified public accounting firm, specialising in taxation and corporate accounts. She completed a Masters in “Business taxation and extraordinary transactions”.
In 1999 she became the sole proprietor of the firm in her own name in Rome.
She completed Masters in “Contract Law and International Trade” and “Company Law” at the LAW SOCIETY OF ENGLAND AND WALES in London, attended the “Highly Specialised Course in International Taxation” at the SCUOLA SUPERIORE DELL’ECONOMIA E DELLE FINANZE (now Scuola Nazionale dell’Amministrazione) coordinated by Professor Maurizio Leo and participated in Induction Sessions and the relative follow-ups for Directors and Auditors of listed companies organised by ASSONIME and ASSOGESTIONI.
She also completed a Masters in “The taxation profiles of the IFRS. New accounting models, new taxation disciplines and application problems” organised by Assonime.Silvia Muzi is a member of the Board of Statutory Auditors for various share capital companies, and is the Chairwoman of the Board of Statutory Auditors of CEMENTIR HOLDING S.P.A. (listed on the Milan Stock exchange under the STAR segment), BONIFICA S.P.A. and ISTITUTO FINANZIARIO S.P.A.
She is the Chairwoman of the Board of Statutory Auditors of AIB ASSOCIAZIONE ITALIANA BIBLIOTECHE.
Her previous positions include Chairwoman of the Board of Statutory Auditors of ANSALDO T&D EUROPE S.P.A. and a member of the Board of Statutory Auditors of LAZIODISU (a Public Body in the Lazio Region which promotes the right to university education) and AZIENDA SANITARIA LOCALE ROMA D.
Since 2008 Silvia Muzi has acted as a consultant for Assonime.
Proficient in English and has a good understanding of Spanish and Russian.

Maria Giovanna Basile

Born in Avellino in 1962, she received her university degree in Economics and Business from La Sapienza University of Rome. In 1990, she started to cooperate on a regular basis with a professional practice in Rome, becoming a partner. Later, she took the Chartered Accountant exam, enrolling in the professional register. She is also listed in the Register of Auditors. She is currently co-owner of the accounting firm “Studio di consulenza societaria e tributaria”, based in Rome and founded in 1983. She is member of the Board of Statutory Auditors of different companies operating in various sectors.

Massimo Porfiri

Born in Rome in 1956, he graduated in Economics and Business from La Sapienza University of Rome, he is listed in the Register of Chartered Accountants of Rome and in the Register of Legal Auditors.
He practised as Chartered Accountant until 1986 at Studio Palandri in Rome, and since 1987 he has been partner of Studio Muci & Associati. He is specialised in tax and corporate matters and is a consultant of the Italian Episcopal Conference. He is on the Boards of Statutory Auditors of different Companies of major national interest, in the field of healthcare, publishing and engineering and construction of large oil and gas plants.
He serves as independent Director and member of the Internal Control and Risk Management Committee of “Engineering Ingegneria Informatica S.p.A.”.
He sits on the Board of Directors of various Catholic Church companies and entities, with specific reference to the communications sector; in particular, he is Chief Executive Officer of the company Rete Blu S.p.A. broadcaster of the (terrestrial and satellite digital) television channel TV 2000. He is also auditor of the Catholic University of the Sacred Heart and Policlinico Gemelli.

Nicoletta Mazzitelli

Graduated, cum laude and dignity of publication, in Economics and Business from the LUISS University in Rome. Chartered Accountant and Auditor listed in the Register of Rome. 
Partner of the “Studio Legale e Tributario EY” – as Head for Italy of the sector VAT, Customs and other Indirect Taxes. She has been in EY (former Ernst & Young) since 2012 at the offices in Rome. Previously, she served for 12 years as Tax Partner in Arthur Andersen, including 2 years at the offices in London,  and for 11 years as Partner of “CBA Studio Legale e Tributario”.
President of the VAT Committee of the Order of Chartered Accountants and Auditors in Rome.
Speaker in conferences at national and international level on VAT matters.
Professor for the Master Ipsoa in 2010, 2011 and 2013.
With more than twenty years of experience in indirect taxation issues, she advises major Italian and international companies operating in different sectors, on issues related to Value Added Tax, customs and excises. She has participated in many corporate re-structuring projects in relation to complex realities, gaining a remarkable experience in indirect taxation issues relating to re-structuring projects of the supply chain and optimization of financial flows. She provides assistance to clients in the implementation of management systems, with respect to transactions coding for the purposes of VAT, to setting-up of the necessary registers and, in general, to compliance requirements.

Paolo Siniscalco

Graduated in Economics and Business from La Sapienza University of Rome, he is a member of the Association of Chartered Accountants in Rome and the Institute of Internal Auditors. A founding member of Siniscalco & Partners, he has dedicated much of his professional career to the study of taxation law, exploring particularly complex themes. Over the years he has gained significant experience of merger and acquisition transactions at national and international level, as well as the restructuring of industrial groups. Paolo Siniscalco has acted as a Member of the Board of Directors and the Board of Statutory Auditors for leading Share Capital Companies, mainly in the public sector. Since September 2013 he has dedicated himself personally to the development of the Siniscalco & Partners New York branch, fulfilling the role of CEO of Siniscalco & Partners LLC and offering consultancy services to companies that wish to reach objectives on a global scale, also thanks to the partnership with Grassi & Co., one of the leading accounting firms in New York and the United States.