The redrafted Provision on the Auditing Committee of IDGC of North-West’s Board of Directors and also the risks Governance Policy and the company’s internal control Policy are approved.

The Board of Directors of IDGC of North-West, JSC approved the redrafted Provision on the Auditing Committee of the company’s Board of Directors.
Changes and amendments are introduced in the Provision on the Auditing Committee of IDGC of North-West’s Board of Directors to satisfy the requirements of FFMS of Russia, which are obligatory for the inclusion and support of securities in quotation lists of the Russian stock exchanges.

The Committees’ competence as to efficiency assessment of internal control procedures of the Company is expanded in the Provision, criteria to the Committee’s personnel staff including to the Chairman are made more rigorous.
The Board of Directors approved also the Company’s internal documents – the risks governance Policy in IDGC of North-West, JSC and the internal control Policy of IDGC of North-West, JSC. The given local documents are sent for improvement and development of internal control, audit and risks governance in IDGC of North-West, JSC.

The working group on organization of development and introduction of standardized internal control system and risks management is planned to be established. The group includes specialists of internal control and audit department and coordinators of the Company’s and branches’ functional departments.

The Auditing Committee of “IDGC of North-West’s” Board of Directors plans to consider quarterly the state of affairs on documents realization aimed at internal control, audit and risks governance improving and developing in IDGC of North-West, JSC.