Corporate Governance

RVC is continuously striving to improve its corporate governance systems in accordance with the best Russian and international standards. RVC’s current effective model of corporate governance is based on three criteria:

  1. Adherence to legislation of the Russian Federation.
  2. Recommendations of the Federal Agency for State Property Management (Rosimuschestvo).
  3. Principles of the Russian Corporate Governance Code.

The principles and procedures of the corporate governance of RVC are available in the Charter of RVC and its documents — which mutually establish the structure and responsibilities of the company's management bodies and the control of the company.

To audit its financial and economic activities, as well as to reconfirm the accuracy of its annual financial statements, RVC can, on a contractual basis, engage a professional auditing organization (an auditor).

RVC operates a number of internal control, audit and risk management systems. The company has developed structural units of management, created the Risk and Ethic Committee, developed internal management documents, systematic rules for the handling of risk management, and has enforced the main provisions of the Federal Law No 273-FZ Against Corruption'. The effective coordination of the internal control systems with audit and risk management are critical to protect the rights and interests of the company's shareholders. Therefore the company takes every effort to ensure and implement the best practices in performance.

Disclosure of information is done in accordance with the legislation of the Russian Federation.