Internal Control and Risk Management System

• 4.1 Main Documents Regulating the Internal Control and Risk Management System
• 4.2 Participants of the Internal Control and Risk Management System. Delineation of Responsibilities
• 4.3 Enhancement of the Internal Control and Risk Management System
• 4.4 Key Risks and Actions for their Minimization
• 4.5 Organization of Internal Control and Risk Management

Main Documents Regulating the Internal Control and Risk Management System

In 2010, the Board of Directors of JSC "Lenenergo" approved a number of the basic internal local documents aimed at enhancement and development of internal control, audit and risk management in the Company:

• Risk management policy of JSC "Lenenergo", approved by the Board of Directors of the Company on 18.06.2010 (Minutes No.22 as of June 18, 2010) which defines the key principles of organization, realization and control of the risk management processes in JSC "Lenenergo", as well as prime actions on forming the risk management system.
• Internal control policy of JSC "Lenenergo", approved by the Board of Directors of the Company on 18.06.2010 (Minutes No.22 as of June 18, 2010) which defines the key principles of the organization of internal control system of JSC "Lenenergo" obligatory to observance and forming of the uniform approach to implementation of internal control processes in the Company.
• New edition of the Regulations on the Audit Committee of the Board of Directors of JSC "Lenenergo", approved by the Board of Directors of the Company on 18.06.2010 (Minutes No.22 as of June 18, 2010).