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« July, 2021
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Board Audit Committee Performance

The Board Audit Committee functioned on the basis of semi-annual plans. From June 02, 2020 to June 01, 2021 the Committee held 16 meetings. 

During the specified period 27 items were reviewed by the Committee, including:

  • the Company's financial statements and the findings of their audits (on a quarterly basis);
  • the plans for Rosneft Board Audit Committee meetings for the second half of 2020 and the first half of 2021;
  • approval of the plan of the audit of the Company's financial statements;
  • endorsement of Internal Audit's action plan and performance reports;
  • the Rosneft candidate auditor and establishment of auditor's fee;
  • preliminary review of Company's profit distribution upon the performance results for 2020 and dividend payout;
  • the draft Annual Report for 2020 with the recommendation “to approve”;
  • the Company's Long-Term Development Program performance audit findings;
  • the Committee's activity reports for 2020;
  • issuance of the recommendation for the Board of Directors to approve the updated Rosneft Accounting Function Development Strategy until 2024 with the name changed to "Program for Improving the Efficiency of the Accounting Function of Rosneft Oil Company until 2024”.

During the reporting period the Committee Chairman held regular working discussions and conference calls with the Сommittee members and top managers of the Company, 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.