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Guidelines for Committees

Corporate Governance

Guidelines for Committees

General Purposes and Objectives

  • The Company's Audit Committee is an independent committee established by and responsible to the Board of Commissioners. The Audit Committee has the primary function of assisting the Board of Commissioners to perform oversight responsibilities for financial reporting methods, processes, risk management, audits, and compliance with applicable laws and regulations.
  • In performing its duties, the Audit Committee works closely with the Board of Directors, Internal Audit Unit, Corporate Legal and External Auditor.
  • The Audit Committee carries out supervisory responsibilities based on information from the Board of Commissioners, Internal Audit Unit, Corporate Legal and External Auditor.
  • The Audit Committee performs its functions, including executing instructions issued by the Board of Commissioners, in accordance with applicable laws and regulations, in particular regulations issued by the Financial Services Authority and the Indonesia Stock Exchange.

Roles and Responsibilities

The Audit Committee provides oversight of the following:

  • Finance - the credibility and objectivity of the financial statements of the Company to be issued to external parties and regulatory bodies, including to follow-up complaints and / or inconsistent notes to the report during the period of review of the Audit Committee;
  • Risk Management and Internal Control - adequacy of processes to identify and mitigate financial and business risks;
  • Insurance Activities - plans and results of activities undertaken by the Internal Audit Unit and the External Auditor to assess that the key risks have been adequately covered and evaluated in the performance of their duties;
  • Objectivity and Independency - the objectivity and independency of the Internal and External Auditors;
  • Legal aspects - the process and reporting of significant legal cases existing within the Trafoindo Group; and
  • Compliance with relevant laws and regulations, as well as the Company’s Code of Conduct.
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