Auditing Commission

The competence and operating procedures of the Auditing Commission are determined by the Regulations on the Auditing CommissionMore detailed information about these regulations can be found on the Company’s website in the Corporate governance section. approved by the PAO Sovcomflot General Meeting of Shareholders (Instructions No. 519-r of the Federal Agency for State Property Management dated 30 June 2016).

During the reporting period, the Auditing Commission operated in the composition elected by the Annual General Meeting of Shareholders on 29 June 2018 (Instructions No. 449-r of the Federal Agency for State Property Management dated 29 June 2018). At the Annual General Meeting of Shareholders held on 26 June 2019 (Instructions No. 373-r of the Federal Agency for State Property Management dated 26 June 2019) the Auditing Commission was elected in the same composition.

Composition of the Auditing Commission of PAO Sovcomflot as at 31 December 2019
Chairman of the Auditing Commission
Mikhail Kuznetsov
Born in 1979
Education: higher
OOO Topcompetence, Chief Executive Officer; OOO Corporate Development Centre, Chief Executive Officer

Members of the Auditing Commission:
Ivan Bezmenov
Born in 1980
Education: higher
Russian Ministry of Economic Development, Director of the Corporate Governance Department

Dmitry Vladimirov
Born in 1989
Education: higher
Federal Agency for State Property Management, Deputy Head of the Department of Property Relations and Privatisation of Major Organisations

Zakhary Dzhioev
Born in 1977
Education: higher
Deputy Head of the Federal Agency for Maritime and River Transport

During the reporting period members of the Auditing Commission did not own shares in PAO Sovcomflot.

In 2019, compensation was paid to members of the Auditing Commission other than state officials in accordance with the Regulations on the Payment of Compensation and the Reimbursement of Expenses to Members of the PAO Sovcomflot Auditing Commission approved by Instructions No. 519-r of the Federal Agency for State Property Management dated 30 June 2016 and on the basis of Instructions No. 373-r of the Federal Agency for State Property Management dated 26 June 2019.

Compensation paid to the Auditing Commission members in 2019
Indicator Amount, RUB thousand
Compensation for participation in the body exercising control over the issuer’s financial and economic activity 536
Salary -
Bonuses -
Commissions -
Benefits -
Reimbursement for expenses -
Other types of compensation -
TOTAL 536

All recommendations of the PAO Sovcomflot Auditing Commission based on the audit of financial and economic activities were implemented during the reporting period.