AUDIT COMMITTEE


The Board of Commissioners established an Audit Committee with the aim of assisting its supervisory duties towards the implementation of the duties and functions of the Board of Directors in managing the Company according to the principles of good corporate governance. In carrying out its duties, the Audit Committee is fully responsible to the Board of Commissioners. The members of the Audit Committee are appointed according to the Decree of the Board of Commissioners No. SKEP.001/BOC/PAF/IV/18 dated April 2, 2018 concerning the Audit Committee with a tenure ends at the issuance of a new Board of Commissioners Decree.

 

DUTIES AND RESPONSIBILITIES OF AUDIT COMMITTEE

   1. Reviewing the financial information including financial reports, projections and other reports related to the Company’s financial information that will be released by the Company to the public and/or authorities.

   2. Reviewing compliance with the provisions of laws and regulations relating to the activities of the Company.

   3. Providing independent opinion if there are differences of opinion between management and accountants for the services they provide.

   4. Providing recommendations to the Board of Commissioners regarding the appointment of accountants based on independence, scope of assignment, and service fees.

   5. Reviewing the implementation of audits by internal auditors and overseeing the implementation of follow-up actions by the Board of Directors on the findings of internal auditors.

   6. Reviewing the risk management implementation carried out by the Board of Directors, if the Company does not have a risk monitoring function under the Board of Commissioners.

   7. Reviewing complaints relating to the accounting process and financial reporting of the Company.

   8. Reviewing and providing advice to the Board of Commissioners regarding the potential conflict of interest of the Company.

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