The Revision Commission is a permanent elective body that controls the financial and operational activities of Transneft. Its activities are governed by the Regulations on the Revision Commission of TransneftApproved by the resolution of the Extraordinary General Meeting of Shareholders of Transneft (Order of the Federal Agency for State Property Management No. 734-r dated 6 October 2015).
The Revision Commission is composed of three persons. Composition of the Revision Commission of Transneft in 2018:
- Alexander Gladkov (Chairman)
- Dmitry Vladimirov
- Pavel Shumov
Members of Transneft’s Revision Commission are remunerated in accordance with the Regulations on Remuneration and Compensation for Members of the Revision Commission (Order of the Federal Agency for State Property Management No. 734-r dated 6 October 2015). Members of the Revision Commission did not receive remuneration or compensation for expenses related to the performance of the functions of the members of the Company’s Revision Commission in 2018.
The members of the Revision Commission have no shares in the Company’s authorised capital and do not own its ordinary shares.
In 2018, the Revision Commission’s agenda included the following items:
- Audit of Transneft’s financial and operational activities
- Checking the correctness of calculation, accrual and transfer of dividends for 2017
- Analysis of Transneft’s internal regulations governing the Revision Commission’s activities
- Audit of the purchases made by Transneft in 2018
- Monitoring execution of instructions from the President and the Government of the Russian Federation
- Monitoring disposal of Transneft’s non-core assets in 2018
- The procedure for revision and update of the Transneft Long-Term Development Programme
Following the audit of the Company’s financial and operational activities from 1 January 2018 to 31 December 2018, the Revision Commission issued an opinion on the validity of the data contained in the Company’s financial statements and annual report.
|Member of the Revision Commission as of 31 December 2018||Position held|
|Alexander Gladkov Chairman of the Revision Commission||2013 to the present day — Director of the Oil and Gas Extraction and Transportation Department of the Ministry of Energy of the Russian Federation|
|Dmitry Vladimirov||2013 to the present day — Deputy Head of Directorate at the Federal Agency for State Property Management|
|Pavel Shumov||2010 to the present day — Councilor, Deputy Head of a division within the Department for Competition Development, Head of the Department of State Regulation of Tariffs and Infrastructural Reforms of the Ministry of Economic Development of the Russian Federation|