Internal audit procedures are an integral part of the corporate management system and include purposive actions of the Company's Board of Directors and the Company's management bodies aimed at improving the risk management process and increasing the likelihood of achieving the pre-set goals. The internal audit and risk management policy is implemented by the Internal Audit Department.
The Internal Audit Department, which is separate in the very nature of its activities, has the necessary status of independence and is subordinated functionally to the Board of Directors and administratively to the General Director.
The key functions of the Internal Audit Department are the assessment of the internal control and risk management system effectiveness and development of recommendations for improving the system’s effectiveness and reliability.
The Internal Audit Department tasks include:
- Drafting of the annual risk-oriented work plan and submitting it for approval to the Board of Directors indicating the resources required for its implementation.
- Preparation and submission of reports on the Internal Audit Department operations to the Board of Directors, the Audit Committee and the General Director.
- Advising to the Company's employees in the development of activities based on the results of the audit.
- Performance of internal audits.
- Control of the activities (remedial actions) implementation developed by managing the audit results.
- Advising to the Company's management, including the issues of the risk management and internal control.
- Interaction with the Company's divisions in the matters related to the performance of the internal audit functions.
- Execution of assignments and participation in projects at the request of the Board of Directors and executive bodies of the Company within its competence.
- Compliance with laws, regulations and standards of occupational safety and industrial safety in the areas of the Company’s activity.
The system of internal control over the operational efficiency, compliance with the law, and the preservation of property processes is reviewed within the framework of the audit. The audit is carried out on the basis of a risk-based approach.
The corporate risk management system is aimed at identifying potential risks and the possibility of timely measures taking to eliminate or minimize them, which allows adjusting the business planning, investment activities and social policy of the Company. The corporate standards effective at the Company significantly reduce in-house risks.
The report on the internal audit results is sent to the Company's management and to the Audit Committee of the Company.
There are three functional sections in the composition of the Internal Audit Department to ensure fulfillment of the tasks faced:
- Corporate Audit Office;
- Hydrocarbon Production Audit Office;
- Oil Refining and Marketing Audit Office.
Head of the Internal Audit Department
Ildar Asylgaraevich Rakhmatullin
He was born in 1977. He graduated from the Kazan State Institute of Finance and Economics specializing in accounting and auditing. He has been working at PJSC TATNEFT since 2001. Head of the Internal Audit Department of PJSC TATNEFT since 2006.