Risk Management, Internal Control, and Internal Audit
During the year, FPC continued to develop and formalise its risk management, internal control, and internal audit as recommended by the Bank of Russia’s Corporate Governance Code.
Currently, all FPC’s units are involved in the risk management process within their scope of responsibility.
The key actors driving the risk management process in the Company are its Board of Directors, the Audit and Risk Committee, and the General Director.
The Company has stand-alone Risk Management and Internal Audit units.
|Description||Risk management||Internal audit|
|Responsible structural unit||Risk Management Unit||Internal Audit Unit|
|Reporting||Reporting to FPC’s Deputy General Director responsible for the risk management system||Functional reporting to the Board of Directors (the Audit and Risk Committee of FPC’s Board of Directors) and administrative reporting to the General Director|
|The unit’s key objectives|| ||Assessing internal control and risk management systems, as well as corporate governance practice for reliability and performance|