9
financial statements of RusHydro Group, prepared in accordance with IFRS for 2015, 2016 and 2017 was
approved by decision of the Buying Audit Committee dated February 27, 2015.
In accordance with the minutes of the Tender Committee (Minutes No. 2 dated April 8, 03, 2015), Joint-
Stock Company PricewaterhouseCoopers Audit won the open tender.
The auditor (audit organisation) nomination procedure for approval by the meeting of
shareholders (participants), including the management body taking the relevant decision:
The Board of Directors of the Issuer nominates the auditor to be approved by the General Meeting of
Shareholders of the Company.
In accordance with legislation, the Issuer shall audit its financial statements on an annual basis. In order to
audit and confirm the annual financial statements, the General Meeting of Shareholders shall approve the auditor
of the Company on an annual basis.
JSC PwC Audit was approved as an auditor of the Issuer under the decision of the General Meeting of
Shareholders of the Company (Minutes No. 13 dated June 26, 2015).
The Issuer's auditor shall, under the agreement entered into with it, audit the Issuer's financial and
business activity in accordance with the legislation of the Russian Federation.
Information on works performed by the auditor within special audit assignments: No work was
performed within special audit assignments during audit governed by Federal Law On Audit Activities No. 307-
FZ dated December 30, 2008.
The procedure for determination of the auditor's (audit organisation’s) remuneration, actual
remuneration paid by the Issuer to the auditor (audit organisation), according to the results of the last
completed reporting year for which the auditor (audit organisation) performed an independent audit of
annual accounting (financial) statements and/or annual consolidated financial statements of the Issuer,
information on deferred and outstanding payments for services rendered by the auditor (audit
organisation):
The payment procedure and remuneration of the audit organisations and individual auditors for audit
(including mandatory) and associated services are specified in the audit services agreements and cannot depend
on any requirements of the audited entities with regard to the content of conclusions which can be made during
the audit.
The remuneration for the Issuer's auditor, approved by the Annual General Meeting of Shareholders of
the Issuer, for mandatory annual audit and confirmation of the Issuer's annual financial statements, shall be
determined by the Board of Directors of the Issuer.
The auditor's remuneration shall be determined according to the tender results when the Company's
auditor is selected.
Information on actual amount of remuneration paid by the Issuer to JSC PwC Audit according to
the results of the last completed reporting year, for which JSC PwC Audit performed independent audit
of accounting (financial) statements of the Issuer and annual consolidated financial statements of the
Issuer:
Actual amount of remuneration to be paid by the Issuer to JSC PwC Audit according to the results of
2015, for which JSC PwC Audit performed an independent audit of accounting (financial) statements of the
Issuer and annual consolidated financial statements of the Issuer, is 120,000,690 Russian rubles (including
VAT), including the cost of services for review of the consolidated interim financial statements of the Issuer for
six months ending June 30 of the reporting year equal to 23,771,100 Russian rubles (including VAT).
In accordance with schedule of payments under contracts with JSC PwC Audit, an amount of 33,394,059
Russian rubles (including VAT) was paid by the Issuer in 2015 and an amount of 86,606,631 Russian rubles
(including VAT) was paid by the Issuer in April 2016.
Information on deferred and outstanding payments for services rendered by the auditor (audit
organisation): There are no deferred or outstanding payments for services rendered by JSC PwC Audit
1.2.2. Information on the auditor —
HLB Vneshaudit CJSC
Full corporate name:
HLB Vneshaudit Closed Joint Stock Company
Abbreviated corporate name:
HLB Vneshaudit CJSC
Location:
25-27/2 Bolshaya Yakimanka St., Moscow, Russian Federation, 109180
INN:
7706118254
OGRN:
1027739314448
Tel.:
(495) 967-0495
Fax:
(495) 967-0497
E-mail:
info@vneshaudit.ru
10
Information about membership of the auditor in self-regulated organisations of auditors
Full name:
Non-Profit Partnership Institute of Professional Auditors
Location of the audit organisation:
14 Nametkina St., bldg. 1, Moscow, Russia, 109180
Additional information:
Principal Number of Registration Entry in the registry of auditors and audit
organisations: 10202000095.
Reporting year(s) from the last five completed reporting years and current year, for which the
auditor (audit organisation) carried out (will carry out) an independent audit of the Issuer's statements
Accounting
(financial)
statements, year
2011
Factors which can influence the auditor's (audit organisation’s) independence from the Issuer,
including information on the availability of material interests connecting the auditor (persons holding
posts in the management bodies and bodies controlling financial and economic activities of the audit
organisation) with the Issuer (persons holding posts in the management bodies and bodies controlling
financial and economic activities of the Issuer)
There are no factors which can influence the independence of HLB Vneshaudit CJSC from the Issuer, as
well as material interests connecting HLB Vneshaudit CJSC (persons holding posts in the management bodies
and bodies controlling financial and economic activities of HLB Vneshaudit CJSC) with the Issuer (persons
holding posts in the management bodies and bodies controlling financial and economic activities)
The Issuer's auditor (audit organisation) selection procedure
The tender procedure connected with the auditor's (audit organisation’s) selection, and its key
conditions: Selection of the audit organisation performing independent audit of the accounting (financial)
statements of the Issuer for 2011:
In accordance with Article 5 of Federal Law No. 307-FZ dated December 30, 2008 On Audit Activities,
the agreement for mandatory audit of accounting statements of the organisation the share of state-owned
property in the authorized (reserve) capital of which is at least 25 per cent shall be concluded according to the
results of order placement through bidding in the form of open tender in accordance with the procedure specified
in Federal Law No. 94-FZ dated July 21, 2005 On Placing of Orders for Supplies of Goods, Performance of
Work, and Rendering of Services for State and Municipal Requirements.
In order to meet the above requirement, PJSC RusHydro approved the composition of the Tender
Committee selecting the auditor of the Company (Minutes of the Audit Committee of the Board of Directors of
PJSC RusHydro No. 17/1 dated February 05, 2010).
In accordance with the minutes of the Tender Committee on Assessment and Comparison of Bids
concerning entry into services agreement for the audit of PJSC RusHydro accounting statements, prepared in
accordance with Russian Accounting Standards for 2011 (Minutes No. 628/4 dated April 08, 2011
(0419000000111000001)), HLB Vneshaudit Closed Joint-Stock Company won the open tender.
The auditor (audit organisation) nomination procedure for approval by the meeting of
shareholders (participants), including the management body taking the relevant decision:
The Board of Directors of the Issuer nominates the auditor to be approved by the General Meeting of
Shareholders of the Company.
In accordance with legislation, the Issuer shall audit its financial statements on an annual basis. In order to
audit and confirm the annual financial statements, the General Meeting of Shareholders shall approve the auditor
of the Company on an annual basis.
HLB Vneshaudit CJSC was approved as the auditor of the Issuer for 2011 under the decision of the
General Meeting of Shareholders of the Company (Minutes No. 7 dated July 04, 2011).
Information on work of the auditor (audit organisation) within special audit engagements:
No work was performed within special audit assignments during audit governed by Federal Law On
Audit Activities No. 307-FZ dated December 30, 2008.
The procedure for determination of the auditor's (audit organisation’s) remuneration, actual
remuneration paid by the Issuer to the auditor (audit organisation) according to the results of the last
completed reporting year, for which the auditor (audit organisation) performed an independent audit of
annual accounting (financial) statements and/or annual consolidated financial statements of the Issuer,
information on deferred and outstanding payments for services rendered by the auditor (audit