To shareholders of Interregional Distribution Grid Company of Centre, Joint-Stock Company
We have audited the financial statements of Interregional Distribution Grid Company of Centre, Joint-Stock Company (hereinafter – the Company) for 2013 as attached hereto.
- the balance sheet as at 31 December 2013;
- the profit and loss statement 2013;
- appendices to the balance sheet and the profit and loss statement, including:
- the statement of changes in equity for 2013;
- the statement of cash flow for 2013;
- the explanatory note to the balance sheet and the profit and loss statement.
Responsibility of the Company for the financial statements
The Company's management is responsible for the preparation and fair presentation of these financial statements in accordance with the Russian rules of financial statements preparation and for the internal control system required for the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements being true in all material respects, based on our audit performed. We conducted our audit in accordance with federal auditing standards. These standards require that we comply with relevant ethical requirements as well as planning and performing of the audit to obtain reasonable assurance that the financial statements are free of material misstatement.
The audit involved performing audit procedures to obtain audit evidence supporting the values in the accounting and the information disclosure that it contains. The choice of audit procedures is the subject of our judgments, which is based on assessment of the risk of material misstatement, whether due to fraud or error. In assessing this risk, we considered the system of internal control, providing making and reliability of the financial statements to select appropriate audit procedures, but not for the purpose of expressing an opinion on the effectiveness of the internal control system.
The audit also included assessing appropriateness of the accounting policy used and the reasonableness of estimates made by the Company’s management, as well as evaluating the financial statements in general.
We believe that the evidence obtained during the audit provides a reasonable basis for expressing an opinion on the financial statements truthfulness.
In our opinion, the financial statements of the Company attached hereto present fairly, in all material respects, its financial position as at December 31, 2013, the results of its financial performance and cash flow for the year of 2013 in accordance with the established financial statements preparation rules.
The audit of the financial statements for the year of 2011 was performed by another auditor, who in the auditor’s opinion dated February 29, 2012 expressed an unmodified opinion.
Deputy Director of ZAO KPMG
(power of attorney dated October 28, 2011 # 50/11)
March 3, 2014