The Board of Directors & the Management Board
Structure of Gazprom Neft’s governing bodies:
The General Meeting of Shareholders elects an Audit Commission, whose competencies include examination and analysis of the Company’s financial situation, functioning of the internal control system and risk management system, as well as legal compliance of business transactions.
For annual audits of financial reports under Russian Accounting Standards (RAS) and Generally Accepted Accounting Principles (US GAAP), Gazprom Neft contracts a third party auditor, who is designated annually by the General Meeting of Shareholders based on a proposal by the Board of Directors.
The constitution, competence and organization of the Company’s management and control bodies are regulated by Gazprom Neft’s Articles of Incorporation, and the following internal documents of the Company:
- Regulation concerning the General Meeting of Shareholders of Gazprom Neft;
- Regulation concerning the Board of Directors of Gazprom Neft;
- Regulation concerning the Management Board of Gazprom Neft;
- Regulation concerning the Chief Executive Officer of Gazprom Neft;
- Regulation concerning the Audit Commission of Gazprom Neft.
The Articles of Incorporation and Corporate Regulations of Gazprom Neft can be examined by all interested parties on the official website of Gazprom Neft (http://ir.gazprom-neft.ru/corporate-governance/).