Audit Commission↓

Audit Commission was elected  at the Annual general shareholders meeting on May 11, 2011 (Minutes dated May 13, 2011 No.13).

Audit Commission

1.

Natalya Ananyeva

Head of Foreign Asset Audit Directorate of  JSC INTER RAO UES

2.

Elena Ivanova

Deputy Head of Internal Audit Department of JSC INTER RAO UES

3.

Vasily Kulikov

Head of Procurement Activities Audit Directorate of JSC INTER RAO UES

4.

Sofia Mansurova

Chief Expert of Operating Audit Directorate of the Internal Audit Department of JSC INTER RAO UES

5.

Elena Ryzhkova

Head of Internal Audit Department
JSC INTER RAO UES

To exercise control of the financial and economic activities of the Company, by the decision of the General Meeting of Shareholders, the Audit Commission is elected for a period until the next Annual General Meeting of Shareholders.

In the event of electing the Company Audit Commission by an extraordinary General Meeting of Shareholders, members of the Audit Commission are considered elected for a period until the date of holding the General Meeting of the Company Shareholders.

The number of the Company Audit Commission is 5 (Five).

By the decision of the General Meeting of the Company Shareholders the powers of all or individual members of the Company Audit Commission may be terminated ahead of schedule.

The following issues fall within the competence of the Company Audit Commission:

1) confirmation of reliability of the data contained in the annual report, accounting balance sheet, account of profit and loss of the Company;

2) analysis of the Company’s financial standing, identification of reserves of improvement of the Company’s financial standing and drawing up of recommendations for the Company’s management bodies;

3) organization and carrying out of auditing of the Company’s financial and economic activities, in particular:

    • auditing of financial, accounting, payment and settlement and other documentation of the Company relating to the Company’ financial and economic activities, with a view to its compliance with the laws of the Russian Federation, Articles of Association, interior and other documents of the Company;
    • control of the safety and use of the fixed assets;
    • control of keeping of the established order of writing-off insolvent debtors indebtedness as the Company losses;
    • control of the Company’s funds spending in accordance with the adopted business plan and budget of the Company;
    • control of building and using of reserve and other special funds of the Company;
    • checkup of accuracy and promptitude of distribution and payment of dividends on the Company shares, bond interest rates, and current return on other securities;
    • verification of fulfillment of previously issued directives on elimination of infringements and drawbacks revealed detected by previous checkups (audits);

4) other actions (steps) related to auditing of the Company’s financial and economic activities.

All the decisions coming within the terms of reference of the Audit Commission shall be made by a simple majority of votes of all its members.

The Audit Commission of the Company is empowered – and in the event of identifying serious violations of the Company’s financial and economic activities – is bound to demand convocation of an extraordinary General Meeting of the Company Shareholders.

Operating procedures of the Company Audit Commission is determined by an interior document of the Company to be approbated by the General Meeting of the Company Shareholders.

In compliance with a decision to carry out a checkup (audit) the Audit Commission – for the purpose of carrying out a checkup (audit) – is authorized to engage experts in respective areas of law, economics, finance, accounting, management, economic security, and others, including specialized organizations.

Checkup (audit) of financial and economic activities of the Company may be carried out at any time on the initiative of the Company Audit Commission, by the decision of the General Meeting of Shareholders, Company Board of Directors or at the request of a shareholder/shareholders of the Company who in total possesses at least 10 percent of the voting shares of the Company.