Good Corporate Governance (Audit Committee)


  • 1. The Audit Committee is formed by the Board of Commissioners and, therefore, reports directly to the Board of Commissioners;
  • 2. The Audit Committee shall consist of at least 3 (three) members, including an Independent Commissioner of the Company as Chairperson and other members who are independent parties outside the Company, who are appointed and dismissed by the Board of Commissioners;


  • 1. Must have high integrity, ability, knowledge, experience in accordance with their field of work, and be able to communicate well;
  • 2. Must understand the financial statements, the Company's business, audit processes, risk management and applicable laws and regulation;
  • 3. Must comply with the Audit Committee's code of ethics established by the Company;
  • 4. Willing to increase competence continuously through education and training;
  • 5. One member must have an educational background and expertise in accounting and / or finance;
  • 6. Not a person in the Public Accountant Office, Legal Consultant Office, Public Appraisal Service Office or other parties who provide services to the Company within the last 6 (six) months;
  • 7. Not a person who works or has the authority and responsibility to plan, lead, control or supervise the activities of the Company in the past 6 (six) months, except for Independent Commissioners;
  • 8. Does not own shares of the Company, either directly or indirectly;
  • 9. In the event that a member of the Audit Committee acquires the Company's shares both directly and indirectly due to a legal event, then the said shares must be transferred to another party within a period of 6 (six) months after the acquisition of said shares;
  • 10. Has no affiliation with members of the Board of Commissioners, members of the Board of Directors, or major shareholders of the Company;
  • 11. Do not have business relationships, directly or indirectly, related to the Company's business activities.


  • 1. Reviewing financial information that will be released by the Company to the public and / or authorities;
  • 2. Reviewing compliance with laws and regulations relating to the Company's activities;
  • 3. Provide independent opinion in the event of disagreements between management and the Accountant for the services rendered;
  • 4. Provide recommendations to the Board of Commissioners regarding the appointment of an Accountant based on independence, the scope of the assignment and the service fee;
  • 5. Reviewing the audit by the internal auditor and overseeing the implementation of the follow-up by the Board of Directors on the findings of the internal auditor;
  • 6. Reviewing the implementation of risk management activities carried out by the Directors;
  • 7. Conducting a review of complaints relating to the Company's accounting and financial reporting processes;
  • 8. Reviewing and providing input to the Board of Commissioners related to the potential conflict of interests of the Company;
  • 9. Maintaining the confidentiality of the Company's documents, data and information.


  • 1. Access all documents, data and information of the Company;
  • 2. Communicating directly with employees, including Directors and parties who carry out the functions of internal audit, risk management and accountants related to the duties and responsibilities of the Audit Committee;
  • 3. Involving independent parties outside the Audit Committee members to assist in carrying out their duties, if necessary;
  • 4. Perform other authorities granted by the Board of Commissioners, as needed.
  • 5. In order to expedite the implementation of their duties, the Audit Committee is assisted by secretarial staff in arranging schedules, preparing everything needed for meeting arrangements and other matters deemed necessary.


The Audit Committee must hold a meeting with the following conditions:

  • 1. Audit Committee meetings are held periodically at least 1 (one) time in 3 (three) months;
  • 2. Audit Committee meetings can only be held if attended by more than ½ (one half) of the number of members;
  • 3. The decision of the Audit Committee meeting is based on deliberation to reach consensus;
  • 4. Each Audit Committee meeting is outlined in the minutes of the meeting, including if there are dissenting opinions signed by all members of the Audit Committee present and submitted to the Board of Commissioners.


  • 1. The Audit Committee must make a report to the Board of Commissioners on each assignment given.
  • 2. The Audit Committee must prepare an annual report on the activities of the Audit Committee that is disclosed in the Company's Annual Report.


In the case of complaints or reports relating to alleged violations related to financial reporting, the Audit Committee will carry out the following procedures:

  • 1. The Audit Committee will immediately coordinate with the Internal Audit Unit to conduct an audit of the financial statement files.
  • 2. If necessary, with the approval of the Board of Commissioners, the Audit Committee will involve an independent party to conduct an incidental or comprehensive examination of the financial statements.


The Audit Committee's tenure is the same as the Board of Commissioners' tenure and can be re-elected for the next 1 (one) period.