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Committees under the Board of Directors

To perform its functions, as well as to comply with the best international practices, the Board of Directors may create permanent Committees, advisory and consultative bodies for resolving on the most important issues falling within the competence of the Board of Directors. The Committees consist of the current members of the Board of Directors and preliminary review the most important issues within the competence of the Board of Directors and develop recommendations for the Board of Directors to be able to resolve on such issues.

Currently, the Audit Committee and the Sustainable Development and ESG Committee function under the Board of Directors of JSC INK-Capital on a permanent basis.

The Audit Committee

The Audit Committee has been elected since 2013. The objectives of the Committee include development and provision of oral or written recommendations to the Board of Directors on the issues falling within its competence, including, but not limited to the following areas:

  • tax policy (strategy) and accounting (financial) reporting,
  • risk management and internal control,
  • internal and external audit,
  • combatting malpractices of the Company’s employees and third parties (including negligence, fraud, bribery and corruption, commercial bribery, abuse, and other illegal actions that cause harm to the Company)

Guided by the best international practices and provisions of the Corporate Governance Code recommended by the Central Bank of the Russian Federation, the Chairman of the Audit Committee is elected from among independent directors. 

The Sustainable Development, ESG and Integrated Management System Committee

The Sustainable Development, ESG and Integrated Management System Committee has been elected since 2021. The purpose of its creation is preliminary review and development of recommendations to the Board of Directors in respect of priority areas, strategy and development plans of the INK Group on the Sustainable Development, achievement of SDGs, implementation of ESG aspects in the INK Group's activities and Integrated Management System.

In addition, the Committee exercises control over:

  • the intended use of funds raised through the use of financial instruments for sustainable development;
  • compliance with the Sustainable Development and ESG Policy of the Company;
  • the implementation of the INK Group’s projects (portfolio of projects) on Sustainable Development;
  • preparation, completeness, accuracy and reliability of non-financial reporting,

performs other functions.

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