Corporate Governance

Audit Commission

The Audit Commission comprises five members elected annually and monitors the Company’s financial and business activities.

The Audit Commission audits the Company’s financial and business operations, verifies the accuracy and reliability of data included in Rosneft’s annual reports and annual accounting (financial) statements, and prepares proposals and recommendations for improving the asset management efficiency and streamlining the risk management and internal control system.

In 2019, the Audit Commission held two meetings that, among other things, adopted its action plan, approved an audit programme and reviewed audit results.

The findings of the Audit Commission were communicated in the form of an opinion of the Audit Commission on the accuracy and reliability of data included in Rosneft’s Annual Report and annual accounting (financial) statements as at 31 December 2019, and in the report on interested-party transactions entered into in the reporting period.

The annual compensation awarded by the Annual General Shareholders Meeting to the members of the Audit Commission amounted to RUB 440,000 in 2019.

No compensation was paid to public officers serving on the Audit Commission.

The Audit Commission is governed by the Regulations on Rosneft ’s Audit Commission.

The procedure for calculating and paying remunerations and compensations to the members of the Audit Commission is described in Rosneft’s Regulations on Remunerations and Compensations Payable to Rosneft's Audit Commission Members.

On 4 June 2019, the Annual General Shareholders Meeting resolved to elect the Audit Commission as follows:

Chairman
Zakhar Sabantsev

Born in 1974.

Graduated from the Moscow State University of Economics, Statistics, and Informatics.

Section Head, Bank Sector Monitoring, Consolidated and Analytical Work Section, Financial Policy Department, Ministry of Finance of the Russian Federation.

Members of the Audit Commission
Olga Andrianova

Born in 1958.

Graduated from the All-Russian State Distance-Learning Institute of Finance and Economics (ARDLIFE).

Holder of a ministerial award – Certificate of Merit of the Russian Ministry of Energy.

Chief Accountant – Head of Finance and Economics at JSC ROSNEFTEGAZ.

Alexander Bogashov

Born in 1989.

Graduated from the State University of Management.

Minister of Properties of the Chelyabinsk Region.

Sergey Poma

Born in 1959.

Graduated from Nakhimov Black Sea Higher Naval School and Saint Petersburg State University.

Vice President of the National Association of Securities Market Participants (NAUFOR).

Pavel Shumov

Born in 1978.

Graduated from the Moscow State University of Economics, Statistics, and Informatics.

Acting Deputy Department Director, Ministry of Economic Development of the Russian Federation.