Audit commission

Financial operations of IDGC of Urals, OAO are controlled by the Audit Commission, according to item 24.1 of the Charter. The membership is 5 (Five) persons. During the reported period the membership of the Audit Commission, elected by the AGSM on June 14, 2012 was as follows5:

Izumrud ALIMURADOVA

Director for Internal Audit and Risk Management (Head of Internal Audit and Risk Management Department at IDGC Holding, OAO

Vladimir ARKHIPOV

Head of Security Department at IDGC Holding, O

Olga SINITSYNA

Chief expert of Internal Audit, Inspections and Expertise Section at Internal Audit and Risk Management Department at IDGC Holding, OAO

Nikolai BELYAEV

Leading expert of Internal Audit, Inspections and Expertise Section at Internal Audit and Risk Management Department at IDGC Holding, OAO

Maksim DANILOV

Head of Internal Audit Department, Integrated Energy Systems, ZAO

The Audit Commission covers the following spheres:

  • Audit of financial and operating documentation, including initial accounting documents (if required)
  • Audit of the legality of resolutions and performance of the executive bodies, including concluded contracts and completed transactions
  • Audit of the compliance of transactions’ conditions with the conditions of transactions made under the comparable circumstances
  • Analysis of the compliance of the accounting policy with the current regulatory documents
  • Analysis of the financial status and detection of reserves for improving economic situation
  • Analysis of timeliness and correctness of payments to contractors, various budgets, shareholders and other creditors
  • Analysis of payments of debtors, including timeliness and adequacy of measures taken by the executive bodies
  • Other activities under the AC competence

AC remuneration and payment procedure are determined by the Regulations on Remunerations and Compensations paid to the AC members, approved by the Company’s GSM. In 2012 AC members and engaged specialists earned RUR 1 029.9 thous. including taxes.

5All AC positions are as of the election date