3.3.1 Board of internal auditors
Financial and economic performance of the Company is overseen by the Board of Internal Auditors, as stated by clause 24.1 of the Charter. The competence of the Board, as envisaged by clause 24.3 of the Charter, includes:
- Validation of data presented in the Company’s annual report, annual financial statements, P&L statements;
- Analysis of Company’s financial position, detection of reserves to improve Company’s financial position and preparation of recommendations to Company’s management bodies;
- Arrangement and conduct of the audit, namely:
- Audit of financial, accounting, payment and other documents with regard to Company’s financial and economic operations to evaluate compliance with laws of Russia, Company’s charter, bylaws and other documents;
- Oversight whether property, plant and equipment are protected and used in a proper manner;
- Oversight whether bad debt writing-offs comply with the established procedure;
- Oversight whether Company’s monetary resources are spent in a manner compliant with the approved business plan and budget of the Company;
- Oversight how Company’s reserve fund and other funds are generated and used;
- Oversight whether dividends, bond interest, yield on other securities are calculated and paid in a proper manner;
- Oversight whether orders, issued earlier to eliminate exposed violations and problems, are executed;
- Other audit-related activities.
The Board of Internal Auditors consists of 5 members, elected by the Annual General Meeting. During the reported period the Board of Internal Auditors conducted 4 compresence meetings.
The composition of the Board is presented in the figure below[1]:
| Name | Position [2] |
| Composition 1 (08.06.2017 – 30.05.2018) | |
| Marina Alekseevna Lelekova | PAOPublic Joint-Stock Company Rosseti’s Director of Oversight Department |
| Svetlana Anatolyevna Kim | PAOPublic Joint-Stock Company Rosseti’s Head of Oversight Directorate of Oversight Department |
| Artem Nikolayevich Kirillov | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Elena Aleksandrovna Kabizskina | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Elena Yuryevna Slesareva | PAOPublic Joint-Stock Company Rosseti’s Internal Audit Directorate chief expert |
| Composition 2 (31.05.2018 – present day) | |
| Marina Alekseevna Lelekova | PAOPublic Joint-Stock Company Rosseti’s Director of Oversight Department |
| Svetlana Anatolyevna Kim | PAOPublic Joint-Stock Company Rosseti’s Head of Oversight Directorate of Oversight Department |
| Elena Aleksandrovna Kabizskina | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Oksana Alekseevna Medvedeva | PAOPublic Joint-Stock Company Rosseti’s chief expert of Oversight Directorate of Oversight Department |
| Sergey Vladimirovich Malyshev | PAOPublic Joint-Stock Company Rosseti’s leading expert of Oversight Directorate of Oversight Department |
| Name | Position [2] |
| Composition 1 (08.06.2017 – 30.05.2018) | |
| Marina Alekseevna Lelekova | PAOPublic Joint-Stock Company Rosseti’s Director of Oversight Department |
| Svetlana Anatolyevna Kim | PAOPublic Joint-Stock Company Rosseti’s Head of Oversight Directorate of Oversight Department |
| Artem Nikolayevich Kirillov | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Elena Aleksandrovna Kabizskina | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Elena Yuryevna Slesareva | PAOPublic Joint-Stock Company Rosseti’s Internal Audit Directorate chief expert |
| Composition 2 (31.05.2018 – present day) | |
| Marina Alekseevna Lelekova | PAOPublic Joint-Stock Company Rosseti’s Director of Oversight Department |
| Svetlana Anatolyevna Kim | PAOPublic Joint-Stock Company Rosseti’s Head of Oversight Directorate of Oversight Department |
| Elena Aleksandrovna Kabizskina | PAOPublic Joint-Stock Company Rosseti’s Deputy Head of Oversight Directorate of Oversight Department |
| Oksana Alekseevna Medvedeva | PAOPublic Joint-Stock Company Rosseti’s chief expert of Oversight Directorate of Oversight Department |
| Sergey Vladimirovich Malyshev | PAOPublic Joint-Stock Company Rosseti’s leading expert of Oversight Directorate of Oversight Department |
Remunerations and payment procedure are stipulated by the Regulations on Remunerations and Compensations Due to the Board of Internal Auditors, adopted by the General Meeting of Stockholders. The Board of Internal Auditors earned RUBruble 796.5 thousand (incl. applicable taxes) remuneration and compensation during 2018.
[1] The Board of Internal Auditors’ members consented disclosure of personal data in the report in a manner, consistent with laws of the Russian Federation.
[2] Positions are presented as of the nomination date.