Decisions of Auditing committee of the Board of Directors of Kazakhtelecom JSC for 2011

No.1 as of 12.01.20111. Considering the statutes of audit of consolidated financial statements of Kazakhtelecom JSC for 2010, meeting with independent auditor of “Earnst&Young LLC; 
2. Approval of work plan of Auditing committee of the Board of Directors of Kazakhtelecom JSC for 2011; 
3. Considering the Report on activity of Internal audit service of Kazakhtelecom JSC by results of 4 quarter of 2010; 
4. On awarding of Internal audit employees of Kazakhtelecom JSC by results of 4 quarter of 2010; 
5. Considering Report on activity of Internal audit service of Kazakhtelecom JSC by results of 2010; 
6. On approval of Annual audit plan of Internal audit service of Kazakhtelecom JSC for 2011; 
7. On status of execution of protocol errands, provided by the Board of directors (minutes №15 dated 13.12.2010)/ by Auditing committee of the Board of directors of Kazakhtelecom JSC (minutes №6 dated 03.11.2010): 
7.1. to consider conclusion of Commission on considering facts, states in the report for 2 quarter of 2010 of Internal audit service by auditing committee, after what results and proposals to be considered by the Board of directors; 
7.2. Present revised Directions on risk management and Strategy for risk management to the next meeting of Auditing committee by Financial-economic block of Kazakhtelecom JSC; Board of Kazakhtelecom JSC shall work out variants of organizational structure of risk management of Kazakhtelecom JSC, securing independency of risk management and consider possibility to withdraw subdivision for risk management to direct submission of the Board of directors of Kazakhtelecom JSC; 
7.3. Board of Kazakhtelecom JSC shall present plan of measures for risk management “Failure of plan indices of investment projects in the company” to the next meeting of Auditing committee, including monitoring measures, estimation, analysis of profitability and payback of investment projects (with further postpone of issue for consideration to next meeting of Strategic planning committee of the Board of Directors of Kazakhtelecom JSC); 
7.4. Internal auditing service shall present detailed decoding of Budget for training of Internal auditing service employees of Kazakhtelecom JSC for 2011 to the next meeting of Audit committee. 
8. Considering of issue on cancelation of labor contract with employee of Internal auditing service of Kazakhtelecom JSC by own wish on base of application.
No.2 dated 28.01.20111. On determining the size of payment for auditing organization services for 2011. 
2. On approval of contract project terms with external auditor for auditing of annual financial statements of the company. 
3. Considering audit results “Evaluation of internal controls systems over main business – processes of Long-Haul association, Kazakhtelecom JSC branch. 
4. Considering of report on adoption of Kazakhtelecom JSC policy on organization of information on unethical /illegal actions due to interested persons- “Hot line”.

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