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Audit Committee

Audit Committee Guidelines

The Company’s Audit Committee carries out its duties and responsibilities based on the Audit Committee Charter composed under the Financial Services Authority Regulation No. 55/POJK.04/2015 on Establishment and Work Guidelines of the Audit Committee. The Charter contains the following :

  1. Introduction;

  2. Audit Committee Formation and Membership

    1. Definitions;

    2. Membership;

    3. Formation and Appointment of Members;

    4. Member Requirements; and

    5. Audit Committee Meeting;

  3. Functions, Duties, Authorities, and Responsibilities

    1. Work Relationship;

    2. Duties;

    3. Authorities;

    4. Responsibilities of the Audit Committee; and

    5. Reporting;

  4. Closing.

Audit Committee Duties and Responsibilities

Based on the Audit Committee Charter, the Audit Committee duties and responsibilities include:

  1. Review the financial information the Company will release to the public and/or to the authorities covering Financial Statements, projections and other reports related to the Company’s financial informations;

  2. Review compliance with laws and regulations relating to the Company operations;

  3. Provide independent opinions in the event of disagreements between management and accountants for services they provide;

  4. Provide recommendations to the Board of Commissioners on the designation of accountants based on independence, scope, assignments, and fees;

  5. Review the implementation of audits by internal auditors and oversee the implementation of follow – up actions by the Board of Directors on findings of internal auditors;

  6. Review the risk management operations conducted by the Board of Directors, if the Company has no risk monitoring function under the Board of Commissioners;

  7. Review complaints relating to the Company’s accounting process and financial reporting;

  8. Review and provide advice to the Board of Commissioners on any potential conflict of interest of the Company; and

  9. Maintain confidentiality of the Company’s documents, data and information.

The Audit Committee also hold the authority to

  1. Access Company or Public Company documents, data and information of employees, funds, assets, and company data sources needed;

  2. Communicate directly with employees, including Board of Directors and parties conducting functions of internal audit, risk management, and accountants relating to Audit Committee duties and responsibilities;

  3. Involve independent parties outside the Audit Committee which are required to assist in implementing their duties (if needed); and

  4. Perform other authorities assigned by the Board of Commissioners.

Audit Committee Composition and Term of Office

The composition of the Company’s Audit Committee consists of :

  1. Santoso Widjojo (Chairman)

  2. Adi Riris Wibowo (Member)

  3. Jaeni (Member)

  4. Siti Sundari (Member)

Independence of the Audit Committee

All members of the Audit Committee perform their duties and responsibilities professionaly and independently. The party designated to be a member of the Audit Committee has no affiliation with the Board of Commissioners, the Board of Directors, and Major and Controlling Shareholders that may cause a conflict of interest.

Audit Committee Meeting

The obligation to hold an Audit Committee meeting is once in 3 months. In complying with this provision, the Audit Committee of the Company has held the meeting 4 times.