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Competency of the Committee for audit

3.1. Exercise of control over annual independent audit procedure referred to consolidated financial reports and accounting (financial) statements and reports of the Company.

3.2. Assessment of audit report presented as the materials for the annual General meeting of the Company.

3.3. Exercise of control over preparation of quarterly and annual reports by the executive bodies of the Company, and objectivity of the reports.

3.4. Assessment of nominated auditors of the Company.

3.5. Exercise of control over the systems of the Company administrative review in the field of accounting and finance and exercise of control over activities performed by Company internal audit service.

3.6. Assessment of efficiency of the Company administrative review procedures and preparation of improvement suggestions.

3.7. Consideration (necessarily before the submission to the Board of directors of the Company) of the reports made by independent appraisers on assessment of property and obligations of the Company if the Company conducts major transactions and other transactions the decision on conducting thereof to be made by the Board of directors, or in case of assignment of Company property otherwise.

3.8. Other issues and matters by order of the Board of directors of the Company.