OREANDA-NEWS. July 21, 2009. The Board formed the Committee for Audit under the Gazprom Board of Directors. Valery Musin was elected Chairman. Farit Gazizullin and Mikhail Sereda were elected Members of the Committee.

In addition, the Board approved the Board of Directors' action plan for the second half of 2009.
Background

The Committee for Audit is basically focused on accessing:
— nominations for Gazprom's Auditor;
— the Auditor's Report;
— the effectiveness of Gazprom's internal control procedures and elaboration of proposals on their improvement.

The Members of the Committee for Audit were elected pursuant to the Standard Guidelines for the Board of Directors' Committees. The authority of the Committee Members expires simultaneously with the expiry of the authority of the Board of Directors that had formed this Committee. Therefore, the authority of the previously elected Committee Members expired on June 26, 2009.