2018 Corporate Secretary Report

In order to increase the efficiency of decisions made by the Board of Directors, Transtelecom JSC has three committees under the Board of Directors that are engaged in a detailed preliminary review of the most important issues and the preparation of relevant recommendations:

Committees of the Board of Directors of Transtelecom:

  • Audit Committee;

  • HR and Remunerations Committee;

  • Strategic Planning Committee.

Pursuant to the Regulation on the Committees under the Board of Directors, each of the committees submits to the Board of Directors an annual report on the work done.

Structure of issues considered by Committees under the Board of Directors

Chart
For internal audit
For internal control and risk management
For Qnancial re1orting and external audit
By organizational issues and issues the activities board of directors
Chart
For questions remuneration
By organizational issues and issues by activity board of directors
On personnel issues
Chart
On organizational matters
Concerning the activities of the Board of Directors
On budgeting
According to the Charter

Assessment of the Committees

In pursuance of the resolution issued on April 19, 2018 (Minutes No.3/2018), the Board of Directors evaluated the activities of the Board of Directors of Transtelecom JSC and its Committees for 2017 by conducting a survey in the manner established by the Regulations on the Board of Directors of Transtelecom JSC. The assessment was carried out from January 1 to December 31, 2017.

The work of the Committees under the Board of Directors was assessed as effective. Committee's composition in the matters of professional knowledge and skills is balanced. It is recommended to ensure control over the execution of key performance indicators of the Company's Development Strategy.

Over 2018, the Committees fully implemented the goals, objectives and functional responsibilities in accordance with the Regulation on the Committee.

The Committee has studied in detail all the issues of the Committee's agenda, provided weighted and detailed recommendations, which were adopted by the Board of Directors.