Audit Committee

The Russian Railways Audit Commission elected in accordance with Order No. 1232-r of the Russian Government dated 4 July 2014 was approved with seven members.

The Audit Commission oversees the Company’s financial and economic activities and acts on the basis of the legislation of the Russian Federation, the Charter of Russian Railways and the Regulation on the Russian Railways Audit Commission approved by Order No. 265-r of the Russian Government dated 25 February 2004.

The purview of the Audit Commission includes auditing the Company’s financial and economic activities based on its performance for the year and at any time based on its own initiative, a resolution of the Board of Directors or at the request of a shareholder; auditing and analysing the Company’s financial condition, its ability to pay, the operation of the internal control system and the financial and operational risk management system, asset liquidity and the debt to equity ratio; confirmation of the accuracy of the data contained in the Company’s annual report, the annual financial statement and other reports as well as the Company’s other financial documents; verifying the compliance of the decisions on financial and economic matters adopted by the Company’s President, Board of Directors and Management Board with the Charter and the resolutions adopted by the General Meeting of Shareholders.

Alexander Varvarin, Chairman
Yelena Yerokhova
Viktoria Semerikova
Yevgeny Stolyarov
Svetlana Gorbatykh
Maxim Yeroshin
Vasily Shipilov

According to Order No. 1232-r of the Russian Government dated 4 July 2013, a total of RUB 1.68 mln were spent in 2014 on work conducted in 2013 (0.23 per cent of annual net profit).