Audit and Oversight
External Auditor
In accordance with RAS and IFRS, the candidacy of the external auditor of TransContainer’s financial statements is approved by the general meeting of shareholders at the recommendation of the Company’s Board of Directors, following a tender process, which is conducted by the Audit Committee at least once every five years with the participation of the “Big Four” auditors. At the same time the Company considers it expedient to select a single auditor to audit the Company’s financial statements in accordance with RAS and IFRS.
Currently, financial statements of PJSC TransContainer under IFRS and RAS are audited by AO PricewaterhouseCoopers Audit.
Information on external auditor of the Company
| Full name | AO PricewaterhouseCoopers Audit |
| Short name | AO PwC Audit |
| Address | 125047, Russia, Moscow, ul. Butyrskiy Val, 10 |
| Contact telephone | +7 (495) 967-6000 |
| Fax | +7 (495) 967-6001 |
| URL | http://www.pwc.ru |
| Primary State Registration Number | 1027700148431 |
| INN | 7705051102 |
| Self-Regulating Organization | Self-Regulating Organization of Auditors "Russian Union of Auditors" (Association); brief - RUA |
| Address | 105120, Russia, Moscow, 3rd Syromyatnichesky per., 3/9 build.3 |
| Regulatory Body | Ministry of Finance of the Russian Federation |
External Auditor rotation policy
According to our corporate policy we conduct tenders to choose an external auditor for both RAS and IFRS financial statements at least once every five years. To ensure a high quality of audit services, we select one of the ‘big four’ audit firms. To ensure the independence of the external audit process, our Audit Committee oversees the provision of non-audit services by the external auditor.
The Company’s Audit Committee evaluates the quality of the external auditor’s service and its independence on an annual basis.
For the year of 2010 Deloitte and Touche CIS was approved as the company’s auditor.
Since 2011 AO PricewaterhouseCoopers Audit has been the company’s auditor for both IFRS and RAS financial statements. The Latest approval of the company’s auditor was made by Company’s Annual General Meeting held on 24 June 2015.
Internal Audit Service
The Internal Audit Service was created in order to assist the Board of Directors and executive bodies in enhancing the effectiveness of management functions within the Company and improving the Company’s financial and economic activities through a systematic and consistent approach to the analysis and evaluation of the risk management and internal control system, and the use of corporate governance as a tool that provides reasonable assurance of the fact that the Company has achieved its objectives.
In order to adhere to the principles of independence and objectivity, the Internal Audit Service is accountable to the Audit Committee and the Board of Directors, and it also reports to the Company’s CEO.
Roman Makeev - Head of Audit Service.
