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System of internal control

System of internal control at ROSSETI South, PJSC:


IDGC of the South has elaborated a system of internal control and risks management which is an integral part of general management system.

According to resolution of Company BoD (minutes of meeting No. 142/2014 dated 08.09.2014) sophistications of integrated system of internal control and risks management, development of functions of internal control is considered as priority activity of ROSSETI South, PJSC ( further - Company).

The system is to ensure the effectiveness and economic feasibility of decisions adopted by management bodies, as well as to increase transparency, efficiency of management and investment attractiveness of the Company.
The system of internal control and risks management is regulated by the following documents and acts:

  • Statutes on internal control at Company;
  • Policy of risks management at Company;
  • Policy of internal control at Company;
  • Recommendations on risks management at Company;
  • Statutes on control environment and risks in business-processes at Company.

The main participants of system of internal control and risks management are Company’s BoD, Audit Committee attached to BoD, Audit Commission, Director general and top-managers of the Company, Department of internal control and risks management, mangers from all levels and specialists expressly authorised.
In order to provide effective functioning of internal control and risks management system a department of internal control and risks management has been founded in the Company. The department is to control risk management and to bear responsibility for organization and monitoring of unification of business-processes and support of process of introduction of oversight procedures, department also prepares estimation of efficiency in control environment of Company’s business processes.
In accordance with corporate structure of the Company the Department of internal control and risks management is subordinate to director general and answerable to Audit Committee attached to BoD. Specialists of the Department are independent in their activities from executive bodies of the Company.
Primary functions of Department of internal control and risks management:

  • check and estimation of internal control system and risks management;
  • estimation of economic feasibility and efficiency of business operations performed in the Company;
  • control of efficiency of usage and assets (property) protection;
  • check of truthfulness of accounting and management reporting;
  • control of observance of rules set by legislation and internal corporate documents;
  • control of elimination of faults and breaches discovered while control procedures;
  • attraction of structural subdivisions of the Company to participate in risks management;
  • creation of unified process of identification, estimation, assessment and management of Company’s risks;
  • unification of control environment and risks of key business processes by elaborating and introducing Statutes on control environment and risks of business processes