Audit Report
Audit Report on the Account of "Unified Energy System" ("Yedinaya
Energeticheskaya Systema") Russian Joint Stock Company with Branches
Taxpayer
identification number 7709047724 Interaudit private company limited by shares.
Legal address: 109028, Moscow, Solyanka Street 3, str. 3
Phone number: (495) 955-75-40, phone/fax: (495) 955-75-97
General Audit Licence ¹000008 issued on February 15, 1995 by the Central Certification
and Licensing Auditing Commission under the Russian Federation Finance Ministry for a
period of 3 years.
Government Registration Certificate: Series MRP, ¹ 007806 issued by the Moscow Registry.
The date of registration January 27 1992.
Settlement account ¹40702810800081045637 with “AVTOBANK” Joint Stock Company
Commercial Bank, the city of Moscow, corresponding account ¹30101810100000000774, BIC
044541774, OKPO 11649324, OKONKh 84400.
The auditor in charge of the audit: Vasiliy
Dmitriyevich Marchenkov.
1) In accordance with Agreement ¹ 66a dated March 25 1997 and made between
INTERAUDIT Private Joint Stock Company and the Unified Energy Systems of Russia, Russian
Joint Stock Company with branches, we carried out the audit of the attached accounting
statements of the Unified Energy Systems of Russia Russian Joint Stock Company with
branches for 1997. These accounting statements were prepared by the Unified Energy Systems
of Russia Russian Joint Stock Company with branches on the basis of the provisions of
“Accounting and reporting regulations in the Russian Federation” approved by Order
¹170 of the Russian Federation Finance Ministry on December 26, 1994, the Chart of
Accounts approved by Order ¹56 of the USSR Finance Ministry dated November 1, 1991, with
subsequent modifications and amendments, the “Provisions Regarding the Composition of
the Cost Related to the Production and Sale of Products (Works, Services) Included into
the Cost of Production (Works, Services) and Regarding the Procedure of Formulating the
Financial Results Taken into Account for the Purpose of Taxation of Profit” approved by
Resolution ¹552 of the Russian Federation Government dated August 5, 1992, with
subsequent modifications and amendments, as well as the Instructions of the Russian
Federation Finance Ministry “On the Scope and Forms of the Annual Accounting Statement
of Companies and the Procedure of Filling it out” for the corresponding reporting period
and other regulatory documents covering the procedure of reflecting business operations in
accounting and making reports.
2) The Unified Energy Systems of Russia Russian Joint Stock Company with branches
is responsible for preparing the given statements. Our duty is to express an opinion
regarding the authenticity of the given statements in all essential aspects on the basis
of the audit that was carried out.
3) We carried out the audit in accordance with the Provisional Auditing
Regulations of the Russian Federation approved by Decree ¹2263 of the Russian Federation
President dated December 22 1993. The audit was planned and carried out so as to be
sufficiently confident that the accounting statements do not contain significant
distortions. The audit included selective checks of numerical data confirmations and
explanations contained in the accounting statements. We assume that the audit that was
carried out gives grounds to express an opinion regarding the authenticity of data in the
statements.
4) In our opinion, the accounting statements attached hereto are authentic, that
is were prepared in a way which ensures the reflection of the assets and liabilities of
the Unified Energy Systems of Russia Russian Joint Stock Company with branches as at
January 1, 1998, and the financial results of its business for 1997 in accordance with the
aforementioned regulatory documents for accounting and reporting.
General director of the Company M. Y. Potapov
Auditor V. D. Marchenkov
