Information on the internal control system
Internal control is one of the elements of management system and is aimed at provision of reasonable guarantees of reaching the goals in:
  • efficiency, cost effectiveness and performance of the Company;
  • compliance with applicable legal requirements and internal documents of the Company;
  • prevention of illegal actions of employees in regard of Company’s assets;
  • truthfulness, completeness and promptness of all types of reports.


Efficiency of control and system of internal control in general is achieved due to three aspects of management process:

— provision of efficient internal control of business processes for the purposes of reaching the maximum effect in all activities of the Company; oversight of business processes contribute to prompt and effective revealing of violations and deviations and increasing truthfulness of financial reports;

— risks management, as a part of internal control system, helps reduce risks of Company’s fail to reach its goals, protect itself and prevent abuse;

— audit and independent assessment: internal audit is an independent and objective judgment of reliability and efficiency of internal control system and risks management in Company and its affiliates.


In order to carry out management processes the Company issued the following internal documents (minutes of meeting 196/2014 dated 12.09.2014:

Information on system of internal control in accordance with requirements of RF legislation is disclosed to third parties in:

  • quarterly report
  • annual report
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