Auditing Commission

The Auditing Commission is a permanent, elected internal control body of Rosseti Kuban, PJSC.

The Auditing Committee periodically reviews the financial and economic activities of the Company, the activities of its business units and separate subdivisions and the Company’s governing bodies through documentary and field audits (inspections):

  • Legitimacy and economic feasibility of the business and finance transactions carried out by the Company during the period audited
  • Completeness and accuracy of the representation of business and financial transactions in the Company’s documents

Tasks of the Auditing Commission:

  • To control over the Company’s financial and business operations
  • To conduct independent assessment of the reliability of the data contained in the annual report of the Company and annual accounting statements
  • To confirm the fairness of the representations contained in the Company’s report on interested‑party transactions

The Company’s Auditing Commission acts in the interests of the Company’s shareholders. The Company’s Auditing Committee is accountable to the General Meeting of Shareholders of the Company and reports annually to the General Meeting of Shareholders of the Company.

The competence of the Auditing Commission is defined by Federal Law No. 208‑FZ dated 26 December 1995 “On Joint Stock Companies”, as well as the Articles of Association and Regulations on the Auditing Commission of the Company.

Pursuant to Article 24.4 of the Company’s Articles of Association, the remit of the Auditing Commission covers:

  • Inspection (audit) of the financial, accounting, payment and settlement and other documentation of the Company related to the Company’s financial and economic activities for the compliance with the legislation of the Russian Federation, the Articles of Associations and internal documents of the Company
  • Checking and analysis of the financial condition of the Company, its solvency, the functioning of the internal control system and the risk management system, liquidity of assets, the ratio of own and loaned funds, correctness and timeliness of accruals and payment of interest on bonds, income on other securities
  • Control over the expenditure of the Company’s funds under the approved business plan and budget of the Company
  • Control over the generation and use of the reserve and other special funds of the Company
  • Verification of the timeliness and correctness of settlement transactions with counterparties and the budget, as well as settlement transactions for remuneration, social insurance, accrual and payment of dividends and other settlement transactions
  • Monitoring of the compliance with the established procedure for writing off debts of insolvent debtors to the Company’s losses
  • Verification of the Company’s business operations carried out under the concluded agreements
  • Verification of the compliance with the use of material, labour and financial resources, financial and economic activities of current agreements, norms and standards, approved estimates and other documents regulating the activities of the Company
  • Control over the safety and use of fixed assets
  • Verification of the cash account and property of the Company, the efficient use of assets and other resources of the Company, identifying the causes of non‑production losses and expenses, determining reserves for improving the financial condition of the Company
  • Verification of the compliance with the requirements to eliminate violations and deficiencies identified by the Auditing Commission of the Company
  • Drawing‑up of recommendations for the governing bodies of the Company
  • Other actions (measures) related to the audit of the financial and economic activities of the Company

The Auditing Commission abides by the laws of the Russian Federation, the Articles of Association of the Company and the Regulations on the Auditing CommissionThe Regulation on the Auditing Commission is published on the Company’s website in the About the Company / Constitutive and Internal Documents section..

The Auditing Commission consists of five members.