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« March, 2020
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Activity of Audit Committee

The Board Audit Committee functioned on the basis of semi-annual plans. From June 21, 2018 to June 04, 2019 the Committee held 14 meetings. 

During the specified period 37 items were reviewed by the Committee with provision of recommendations on some of them to the Board of Directors, including:

  • Review of Company's financial statements and the findings of their audits (on a quarterly basis);
  • Agreeing  the plan of the audit of the Company's financial statements;
  • Endorsement of Internal Audit's action plan and performance reports;
  • Review of the Rosneft candidate auditor and establishment of auditor's fee;
  • Preliminary review of Company's profit distribution upon the performance results for 2018 and dividend payout;
  • Review of the draft Annual Report for 2018 with the recommendation "to approve";
  • Review of the Company's Long-Term Development Program performance audit findings;
  • Review of the information on Company's risks including relevant risk prevention and mitigation measures and on the planned development of the risk management and internal control system;
  • Review of the Committee's performance reports for 2018;
  • Issuance of the recommendation for the Board of Directors to approve the Rosneft Regulation "On Insider Information" and amendments to the Company Policy "Risk Management and Internal Control System" and to the Company’s Corporate Governance Code.

During the reporting period the Committee Chairman held regular working discussions and conference calls with the top managers of the Company and leaders of the structural units dealing with preparation of pre-reads for the Committee. 

The Committee delivered in full all the assigned tasks over the stated period.