PJSC Aeroflot has a system of internal control over its financial and operating activities, consisting of: Revision Committee, the Audit Committee of the Board of Directors, executive bodies, Company management and the Internal Audit Department.
The internal control systems are designed to maximise the Aeroflot Group’s transparency, economic efficiency, and compliance with the applicable laws.
Aeroflot Group has in place a centralised internal audit function, headed by the Director of the Internal Audit Department. The Director of the Internal Audit Department functionally reports to the Board of Directors of PJSC Aeroflot and to the Audit Committee of the Board of Directors.
In its operation, the Department is guided by the International Standards for the Professional Practice of Internal Auditing and the underlying principles of independence, objectivity, proficiency, and professional care. The purpose of the Internal Audit Department is to support: economic efficiency and solid performance of PJSC Aeroflot; achievement of financial and operational KPIs; protection of assets; fair disclosures of the Company’s financial and operational data; compliance with the applicable laws.
Based on the results of external independent assessment conducted by EY, Aeroflot’s internal audit activity generally conforms to the International Standards for the Professional Practice of Internal Auditing.
The Revision Committee supervises PJSC Aeroflot’s financial and business operations to provide reasonable assurances of the Company’s business fully meeting the interests of its shareholders and requirements set forth in the applicable laws of the Russian Federation. In its operation, the Revision Committee is guided by PJSC Aeroflot’s Articles of Association and the Regulations on the Revision Committee.
The General Meeting of Shareholders of 25 June 2019 elected members of PJSC Aeroflot’s Revision Committee as follows: