The Audit Committee has been established by the Board of Directors of Gazprombank (Switzerland) Ltd (the "Bank"). The primary responsibility of the Audit Committee is to oversee and assist the Board in fulfilling its oversight role of:
- The Bank's accounting policies, financial reporting and disclosure controls and procedures;
- The quality, adequacy and scope of the statutory auditor;
- The Bank's compliance with financial reporting requirements;
- The executive's approach to internal controls with respect to the production and integrity of the financial statements and disclosure of the financial performance; and
- The performance and effectiveness of internal audit.
The Audit Committee comprises of the following members of the Board:
- Mr. Albert Schönenberger, Chairperson of the Audit Committee
- Mr. Denis Kamyshev, Member of the Audit Committee; and
- Mr. Urs Kloeti, Member of the Audit Committee;
The scope and responsibility of the Audit Committee are set out in its Terms of References, which have been approved by the Board. The Audit Committee itself does not perform audits.