Appendix № 4. Conclusion of the Audit Commission of JSC "Techsnabexport"

Report of the Audit Commission Following the Audit of Financial and Economic Activities of Join External Economic Stock Company "TECHSNABEXPORT" (JSC "TECHSNABEXPORT") in 2011

10 April 2012

Pursuant to the Federal Law "On Joint Stock Companies", the Charter of JSC "TECHSNABEXPORT" (hereafter – the Company) and the Regulation on the Audit Commission of JSC "TECHSNABEXPORT", the Audit Commission completed the audit of the financial and economic activities of the Company in 2011 during the period from 20 March 2012 until 10 April 2012.

The Audit Commission was elected by the decision of the Company's sole shareholder – minutes of 30 June 2011 № 20 – and was comprised of:

  • O.V. Zolotareva

    Deputy Head of the Department and Head of the Budget Management. Economics and Controlling Department in the NEC Directorate at the State Atomic Energy Corporation ROSATOM, chairman of the Audit Commission;
  • T.S. Milovidova

    Deputy Director and Head of Department for NFC Production Planning in the NFC Coordination and Development Department at the State Atomic Energy Corporation ROSATOM, member of the Audit Commission;
  • O.N. Sarenkova

    Director of the Internal control and audit department at JSC "TECHSNABEXPORT", secretary of the Audit Commission

The Audit Commission received no requirements for an unscheduled inspections or audits from the Company's shareholder during the year.

In the course of the audit the Audit Commission examined the 2011 accounting statements and the accounting data for 2011 on a selective basis, as well as contracts, primary documents, decisions of the Board of Directors, the Company's sole shareholder, that reflect the important aspects of the Company's business.

In the course of the audit the Audit Commission relied, among other documents, on the Auditor's conclusion by LLC "Accountants and Business" advisers as of 27 February 2012, "Auditor's conclusion of financial (accounting) statements of the Open External Economic Joint Stock Company "TECHSNABEXPORT" for the period from 1 January until 31 December 2011".

Based on the results of the audit:

  1. The Audit Commission expresses its opinion on the accuracy of the information in accounting (financial) statements of the Company in all significant aspects.
  2. The Audit Commission confirms that it has not identified any violations of the accounting procedures and financial reporting procedures stipulated by the regulations of the Russian Federation or of legal acts of Russian Federation in the course of the Company's financial and economic activities that could significantly influence the accuracy of the Company's reporting information.

Chairperson of the Audit Commission
O.V. Zolotareva
Member of the Audit Commission
T.S. Milovidova

Member of the Audit Commission
O.N. Sarenkova