The principal task of the Committee is to assist the Board of Directors to perform analysis and evaluation of PJSC TATNEFT’s financial statements, to monitor accuracy and completeness of the Company’s IFRS and RAS accounting statements, to ensure the independent audit of the financial statements, to control the internal audit system, and to ensure compliance of the Company with the requirements of legislation, regulations, regulatory standards, and requirements in the preparation of the financial statements, audit, and accounting.
Members of the Committee
Chairman:
Yuriy Lvovich Levin, member of the Board of Directors, independent director. Managing Partner of BVM Capital Partners Ltd., Member of the HR and Remuneration Committee of the PJSC TATNEFT’s Board of Directors.
Committee Members:
Radik Raufovich Gayzatullin, Member of the Board of Directors,Non-executive Director. Minister of Finance of the Republic of Tatarstan.
Laszlo Gerecs, Member of the Board of Directors, independent director. Managing Director of G Petroconsulting Ltd, Member of the HR and Remuneration Committee of the PJSC TATNEFT’s Board of Directors.
Rene Frederic Steiner, member of the Board of Directors, independent director. Head of Direct Private Investment Programs of FIDES Business Partner AG. Chairman of the HR and Remuneration Committee of the PJSC TATNEFT’s Board of Directors.
Principal functions
- Control over the completeness, accuracy, and reliability of the accounting (financial) statements of PJSC TATNEFT, including the preparation of the consolidated financial statements of the TATNEFT Group with the integration of the financial statements of the Zenit Banking Group.
- Coordination of the external auditors work and the work of the Internal Audit Department, as well as regular review of their reports.
- Framing the independent assessment of the internal audit function and submission of proposals for the improvement of the Internal Audit Department work.
- Verification of the external auditor's independence.
- Review and analysis of quarterly, semiannual, and annual financial statements of PJSC TATNEFT, including the inspection results by the external auditor.
- Assessment of candidate auditors and provision of recommendations to the Board Directors regarding selection of the independent auditors for the review of IFRS and RAS financial statements of PJSC TATNEFT.
- Assistance to the Board of Directors in monitoring the functioning of internal control and risk management systems at PJSC TATNEFT.
- Preliminary examination of interested-party transactions, and transactions with parties related to PJSC TATNEFT that are submitted for approval to the PJSC TATNEFT’s Board of Directors.