Today the Gazprom Headquarters has hosted a Board of Directors meeting.

The Board of Directors heard information on principles and selection criteria of Gazprom auditing candidates and system of work with auditing companies.

The Board of Directors tasked the Management Committee to send a letter to the Russian Federation Government with a request to develop assessment rules and criteria for application to participate in a competitive procedure with regard of the auditing business specificity and the evaluation by the procedure organizer of the applicants’ eligibility including their working experience.

The Board heard information on the existing Gazprom Order on examining enquires of the federal authorities of the executive branch and data reporting conditions including commercial confidentiality information.

The Board examined issues related to approval of the interested-party deals.

Reference:

Gazprom annually conducts open competitive procedures to select an auditing company for performing statutory annual auditing of Gazprom. Competitive procedures are conducted according to the rules set out by the Federal Law on Allocation of Orders to Supply Goods, Execute Work, Provide Services for the State and Municipal Needs.

In 2007 the procedure participants assessment rules contained in the Law were changed. The changes might cause difficulties with evaluating applications for competitive procedures with due regard of the business specificity in 2008 including working, and this will impact the auditors selection quality.