Quarterly report

 
viii 
We chose other components of the Group for auditing individual balances and types of operations 
separately for each financial statement line item included in the scope of our audit, and our choice 
depended inter alia on the following factors: level of audit evidence obtained from the audit of 
significant components and level of concentration of balances and types of operations in the Group’s 
structure. We also change our selection of a number of other components on a rotation basis. 
On the whole, our audit procedures that were performed at the level of significant and other 
components of the Group and included, in particular, detailed testing and testing of controls on a 
sample basis, in our opinion, provided adequate coverage of individual line items in the consolidated 
financial statements. Thus, for example, our procedures covered 67% of the Group's revenue and 83% 
of the total carrying value of the Group’s property, plant and equipment.  
When performing the audit procedures the audit team engaged specialists in taxation, IFRS 
methodology, as well as experts in valuation of property, plant and equipment and pension liabilities. 
We believe that the results of procedures performed on a sample basis at the level of the Group’s 
components, analytical procedures at the Group’s level and procedures over the consolidated financial 
reporting have provided sufficient and appropriate audit evidence for expressing our opinion on the 
Group’s consolidated financial statements as a whole. 
Other information 
Management is responsible for the other information. Other information includes PJSC 
RusHydro’s 
Annual Report for 
2016 and Issuer’s Report of PJSC RusHydro for Q1 2017, but does not include the 
consolidated financial statements and our auditor’s report thereon. PJSC RusHydro’s Annual Report 
for 2016 
and Issuer’s Report of PJSC RusHydro for Q1 2017 are expected to be made available to us 
after 
the date of this auditor’s report. 
Our opinion on the consolidated financial statements does not cover the other information and we will 
not express any form of assurance conclusion thereon. 
In connection with our audit of the consolidated financial statements, our responsibility is to read the 
other information identified above, when it is made available to us, and, in doing so, consider whether 
the other information is materially inconsistent with the consolidated financial statements or our 
knowledge obtained in the audit, or otherwise appears to be materially misstated. 
Responsibilities of management and those charged with governance for the 
consolidated financial statements 
Management is responsible for the preparation and fair presentation of the consolidated financial 
statements in accordance with IFRS, and for such internal control as management determines is 
necessary to enable the preparation of consolidated financial statements that are free from material 
misstatement, whether due to fraud or error. 
In preparing the consolidated financial statements, management is responsible for assessing the 
Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going 
concern and using the going concern basis of accounting unless management either intends to 
liquidate the Group or to cease operations, or has no realistic alternative but to do so. 
Those charged with governance are responsible for overseeing the Group’s financial reporting process. 

---

 
ix 
Auditor’s responsibilities for the audit of the consolidated financial statements 
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements 
as a whole are free from material misstatement, whether due to fraud or error, and to issue an 
auditor
’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not 
a guarantee that an audit conducted in accordance with ISAs will always detect a material 
misstatement when it exists. Misstatements can arise from fraud or error and are considered material 
if, individually or in the aggregate, they could reasonably be expected to influence the economic 
decisions of users taken on the basis of these consolidated financial statements. 
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain 
professional scepticism throughout the audit. We also: 
  Identify and assess the risks of material misstatement of the consolidated financial statements, 
whether due to fraud or error, design and perform audit procedures responsive to those risks, and 
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk 
of not detecting a material misstatement resulting from fraud is higher than for one resulting from 
error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the 
override of internal control. 
  Obtain an understanding of internal control relevant to the audit in order to design audit 
procedures that are appropriate in the circumstances, but not for the purpose of expressing an 
opinion on the effectiveness of the Group’s internal control. 
  Evaluate the appropriateness of accounting policies used and the reasonableness of accounting 
estimates and related disclosures made by management. 
  Conclude on the appropriateness of management’s use of the going concern basis of accounting 
and, based on the audit evidence obtained, whether a material uncertainty exists related to events 
or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. 
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s 
report to the related disclosures in the consolidated financial statements or, if such disclosures are 
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to 
the date of our auditor’s report. However, future events or conditions may cause the Group to 
cease to continue as a going concern. 
  Evaluate the overall presentation, structure and content of the consolidated financial statements, 
including the disclosures, and whether the consolidated financial statements represent the 
underlying transactions and events in a manner that achieves fair presentation. 
  Obtain sufficient appropriate audit evidence regarding the financial information of the entities or 
business activities within the Group to express an opinion on the consolidated financial 
statements. We are responsible for the direction, supervision and performance of the group audit. 
We remain solely responsible for our audit opinion. 
We communicate with those charged with governance regarding, among other matters, the planned 
scope and timing of the audit and significant audit findings, including any significant deficiencies in 
internal control that we identify during our audit. 
We also provide those charged with governance with a statement that we have complied with relevant 
ethical requirements regarding independence, and to communicate with them all relationships and 
other matters that may reasonably be thought to bear on our independence, and where applicable, 
related safeguards. 

---