Font size:
Site colours:
Company Registrar 8–800–700–03–70
Bolshaya Pirogovskaya ulitsa, 27 building 2, Moskva, Russia, 119435  ·   +7 (495) 664–88–40   ·  office@interrao.ru

ERMIC Process (Cycle)

Risk management and internal control represent a continuous iterative process implemented in the Company and its controlled entities. On the calendar year horizon, ERMIC processes are implemented within the framework of the corporate internal control and risk management cycle (hereinafter referred to as the ERMIC cycle).

ERMIC cycle is a sequence of interrelated phases comprising the following processes implemented on a recurring basis (see Figure):

Цикл СУРиВК Determination of ERMIC milestones Identification of risks and risk factors Assessment and prioritization of risks and risk factors Planning and implementation of risk management actions, including control procedures Monitoring and control of risks and risk factors Generation of reports, disclosure of risk management and internal control information Assessment of ERMIC efficiency

Contents of phases and flow of work within the cycle are described in the Regulations for the business process "Risk Management and Internal Control".