Audit Committee
The Audit Committee is a committee formed by the Board of Commissioners in encouraging the consistent application of the principles of Good Corporate Governance in order to encourage more transparent, accountable, compliant with laws and regulations and independent in maintaining the sustainability of the Company. The Audit Committee carries out its duties and responsibilities professionally and independently in accordance with applicable regulations in order to assist the Board of Commissioners in carrying out its duties and supervisory functions over accounting and financial reporting processes, audit implementation, internal control and ensuring the implementation of corporate governance principles carried out by the Board of Directors and all stakeholders.
Audit Committee Charter
The implementation of the duties and responsibilities of the Audit Committee has been regulated based on the Company’s Audit Committee Charter which was established and became effective on October 30, 2023. The Audit Committee Charter has been prepared based on the Company’s Articles of Association and POJK No. 55/POJK.04/2015 on the Establishment and Implementation Guideline of the Audit Committee.
Duties and responsibilities of the Audit Committee
- Reviewing financial information that will be issued by the Company to the public and/or other authorized parties, including Financial Statements, projections and other reports related to the Company’s financial information;
- Reviewing compliance with laws and regulations related to the Company’s activities;
- Provide an independent opinion in the event of dissenting opinions between management and accountants on the services provided;
- Provide recommendations to the Board of Commissioners regarding the appointment of a Public Accountant based on independence, scope of assignment and service fees; discuss the audit plan which includes the nature and scope of the audit; review the adequacy of the audit by considering all important risks; and ensure coordination when more than 1 Public Accountant is assigned;
- Reviewing the planning, implementation and supervising the implementation of follow-up by the Board of Directors on the findings of internal and external auditors;
- Review and report to the Board of Commissioners on complaints relating to the accounting and financial reporting process of the Company, including if there are allegations of errors in the decision of the Board of Directors meeting or irregularities in the implementation of the decision of the Board of Directors meeting;
- If necessary, the Audit Committee may conduct an examination, either by the Audit Committee itself or by commissioning a third party, whose report is submitted to the Board of Commissioners no later than 2 working days after the completion of the report;
- Review and provide advice to the Board of Commissioners related to the potential conflict of interest of the Company, namely in the event that there is a difference between the economic interests of the Company and the personal economic interests of the owners, members of the Board of Commissioners, members of the Board of Directors, executive officers and / or parties related to the Company;
- Assist the Board of Commissioners in conducting active supervision of the compliance function by:
- evaluating the implementation of the Company’s compliance function with internal regulations and laws and regulations related to the Company’s activities at least 2 times in 1 year;
- providing suggestions in order to improve the quality of the Company’s compliance function;
- Maintaining the confidentiality of the Company’s documents, data and information; and
- Reviewing the risk management implementation activities carried out by the Board of Directors.
Audit Committee Authority:
- Accessing the Company’s documents, data and information about employees, funds, assets and Company’s resources as needed;
- Communicate directly with the Company’s employees, including the Board of Directors and/or senior executives/officers and those who carry out internal audit, risk management and accountant functions related to the duties and responsibilities of the Audit Committee;
- May involve independent parties outside the Audit Committee as necessary to assist in the performance of its duties (if required); and
- Perform other authorities granted by the Board of Commissioners.