Audit committee of the directors board of state joint-stock company: legal basis and problems of formation and functioning

Corporate law and joint-stock law in Russia are quite young. This fact does not allow the country to gain the necessary experience in law enforcement practice in the field of legal entity governance. In particular, there are relatively meager developments in the formation of committees of the board of directors in joint-stock companies. If such bodies are formed, they function in a formal format. After amendments were made to the Federal Law «On joint-stock companies» public joint-stock companies were forced to create an audit committee. Why the legislator drew attention to the presence of this committee, what potential it has, what is the current practice in the designated area, what does prevent the audit committee from playing an important role in corporate governance and control, and other issues will be considered in this scientific work.