To assist in supervising the management of the Company which is run by the Board of Directors, the Board of Commissioners forms an Audit Committee which is structurally, the Audit Committee under the Board of Commissioners. Members of the Audit Committee are appointed based on the Decree of the Board of Commissioners No. SKEP.001/BOC.PAF/IX/21 dated September 21, 2021 regarding the Audit Committee, with a term of office until the issuance of a new Decree of the Board of Commissioners.
DUTIES AND RESPONSIBILITIES OF AUDIT COMMITTEE
- Examine financial information that will be submitted by the Company to the public and/or authorities such as financial statements, projections, and other reports related to the Company's financial information.
- Check compliance with regulations governing the Company's activities
- Provide an independent opinion in the event of a difference of opinion between the management and the accountant on the services provided.
- Provide recommendations to the Board of Commissioners regarding the appointment of an accountant which includes independence, scope of assignment, and service fees.
- Examine the audits carried out by the internal auditors and supervise the implementation of the Board of Directors' follow-up on the findings of the internal auditors.
- Examine the implementation of risk management carried out by the Board of Directors if the Company does not have a Risk Monitoring Committee under the Board of Commissioners.
- Examine complaints related to the Company's accounting and financial reporting processes.
- Examine and provide recommendations to the Board of Commissioners regarding potential conflicts of interest of the Company.
- Maintain the confidentiality of the Company's documents, data and information.
AUTHORITY OF THE AUDIT COMMITTEE
- Access relevant documents, data and information to obtain data and information related to the implementation of their duties.
- Communicating directly with employees, including the Board of Directors and those who carry out the functions of internal audit, risk management and accountants regarding the duties and responsibilities of the Audit Committee.
- If necessary, with the approval of the Board of Commissioners, the Audit Committee may employ independent experts outside of the members of the Audit Committee to assist in carrying out their duties.
- Carry out other authorities given by the Board of Commissioners.
INDEPENDENCE OF THE AUDIT COMMITTEE
Members of the Audit Committee come from independent parties, have no business relationship with the Company, have no family relationship with the Major Shareholders, the Board of Commissioners and the Board of Directors; and have knowledge and experience in line with the regulations of the Financial Services Authority, which are described in the table below:
AUDIT COMMITTEE CHARTER
In carrying out its duties and functions and responsibilities to assist and support the Board of Commissioners in carrying out their duties and responsibilities, the Audit Committee adheres to the Audit Committee Charter dated April 2, 2018 which was prepared based on the legal principles of Limited Liability Companies, the provisions of the Company's Articles of Association and other relevant laws and regulations. . The Audit Committee Charter contains instructions for the work of the Audit Committee to carry out their respective duties in order to achieve the Company's vision and mission.
Download Audit Committee Charter