Corporate governance

Independent auditor

To ensure independence and impartiality of the external auditor, Rosseti (PAO), acting as a tender organizer, arranged an open tender to select the Company’s auditor with the aid of the B2B-energo electronic trading platform located at Information on the tender for the right to conclude contracts on auditor services for FY2015-2017 was posted under No.31502075235 on 27.02.2015 at the B2B-energo electronic trading platform in the information system located at RSM RUS (ООО) was recognized as the winner of the tender after re-biddings conducted with the aid of services of the electronic trading system (81). Bidders were estimated by the criteria, set and disclosed in the tender documentation.

The Company’s charter states that the Board of Directors recommends a nominee to conduct independent audit of the annual financial statements to the General Meeting after tender procedures. The General Meeting approves the Company’s auditor. The Company’s annual general meeting, conducted on Jun. 06, 2016 (Minutes No.9 dated as of 06.06.2016), decided to approve RSM RUS (ООО) as the Company’s auditor. The charter states that the Board of Directors decides on the amount of the auditor fee. The fee and payment procedure are stipulated by the contract between the Company and the audit firm (contract dated as of 06.09.2016 No.161а061). The auditor remuneration for the audit of FY2016 financial statements, prepared under RAS and IFRS , is decided by the Board of Directors on 15.08.2016 (82) at RUB 2,611,251.52, plus VAT. There were no other remunerations for non-auditing services due to the auditor.

Здесь вы можете скачать полный отчет 2016, отдельные главы в формате PDF и наиболее важные таблицы в формате Excel.
1About company
1.1Mission and strategic goals
1.2Market share
1.3Key 2016 events
2Board of directors’ progress report
2.1Letter to stockholders
2.2Production capital formation
2.2.1Network exploitation
2.2.2Electricity transmission
2.2.3Technological connection
2.2.4Development of telecommunications and IT systems
2.2.7Efficacy enhancement
2.3Financial capital formation
2.3.1Analysis of revenues and expenses
2.3.2Analysis of financial standing
2.3.3Analysis of receivables and payables
2.3.4Analysis of credit portfolio
2.3.5Description of tariff policy
3Corporate governance
3.1Corporate governance practices
3.2Corporate governance system
3.2.1General meeting of stockholders
3.2.2Board of Directors
3.2.3Board of directors’ committees
3.2.4General director and executive board
3.2.5Remuneration and compensation policy
3.3Oversight system
3.3.1Board of internal auditors
3.3.2Independent auditor
3.3.3Internal control
3.3.4Risk management
3.3.5Security and anti-corruption
3.4Investor and stockholder relations
3.4.1Shareholder capital structure
3.4.2 Shareholder rights
3.4.3The company and stock market
3.4.4Communications with market participants
3.4.6Allocation of profit
4.1Human resources management
4.2Customer support
4.3Supplier relationship management
4.4Public and goverment relations
4.5Environment protection
5.1Prepared under Russian accounting standards
5.2Prepared under international financial reporting standards
5.3Related-party transaction report
5.4Corporate governance code compliance report
5.6Abbreviations and acronyms