Audit Committee

The Audit Committee provides assurance on the accuracy, transparency and integrity of the financial information disclosed by the Company, by examining all quarterly and annual financial statements, projections and other information regarding the Company's financial condition. To fulfill this task, the Audit Committee is authorized to access any and all records and information pertaining to the Company, its assets and its employees. The Audit Committee works to assure the adequacy of the Company's risk mitigation mechanisms by monitoring the risk identification and assessment processes to ensure that all key risks have been identified and ensures that management follows up all the recommendations of both the internal and external audits. The Audit Committee also reports to the Board of Commissioners any matters related to the risks facing the Company, and any material issues that could have a financial or non-financial impact on the Company's performance.

In addition, the Audit Committee monitors the Company's compliance with the Code of Conduct relevant as well as relevant regulations and standards and ensures that senior managers take the lead in embedding a culture of good governance within the Company.

The Audit Committee also oversees the progress of both internal and external audits and makes recommendations to the Board of Commissioners every year on the appointment of the external auditor.

The Audit Committee reports its findings on the above to the Board of Commissioners, and can convene meetings with the Board of Commissioners, the Board of Directors and other units of the Company whenever deemed necessary.

The Audit Committee is a committee that works professionally and independently both in terms of its duties implementation as well as reporting to the Board of Commissioners. The members of Audit Committee have met the requirements of the following independence criteria:

The members of Audit Committee are not the executives of Public Accounting Firm which provides audit and/or non-audit service to the Company within six months prior to its appointment as member of the Audit Committee.

The members of Audit Committee do not have any relationships in terms of financial, management, share ownership and/or family relationship with the Board of Commissioners, the Board of Directors and/or Controlling Shareholders or with the Company that can affect its independence.

 

As of December 31, 2017, the Audit Committee members were:

1. Ir. Yauw Diaz Moreno
His profile has been presented in the Profile of the Board of Commissioners.

2. Lukiman Darmadja
Indonesian Citizen, 67 years old. Received his Economics degree from the University of Indonesia in 1980. He started serving as a Member of the Audit Committee in 2017, pursuant to the Board of Commissioners decree no. 001/JRP-KOM/VII/2017.

3. Liliana Susanti Bambang
Indonesian Citizen, 35 years old. Received her Bachelor of Business Administration degree from the University of Wisconsin in 2004 and Master of Accountancy degree from the University of Wisconsin in 2005. She started serving as a Member of the Audit Committee pursuant to the Board of Commissioners decree no. 001/JRP-KOM/VII/2017.