CORPORATE OVERVIEW

CORPORATE OVERVIEW

AUDIT COMMITTEE

The Audit Committee assists the Board of Commissioners in exercising oversight over the implementation of good corporate governance by reviewing Company?s financial reports, and evaluating the effectiveness of the risk management and internal control systems, the independence of the external auditor and the implementation of the external audit, and regulatory compliance.

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, 2015, the Audit Committee members were:

1. Ir. Edmund E Sutisna, MBA ? Chairman
His profile has been presented in the Profile of the Board of Commissioners.

2. Drs. Jonathan Isnanto ? Member
Received his Economy Degree from Satya Wacana University in 1972, Drs. Jonathan Isnanto was a Commissioner of PT. Timurama, PT. VSL Indonesia and PT. Pameterindo Edukatama Aneka in 1997.

3. Roy Kusumaatmaja ? Member
Received his Economy degree from Trisakti University in 1987 and Master of Business Administration from Texas A&M University in 1995, Roy Kusumaatmaja pursued his career as Country Finance Director in PT. Compaq Computer Indonesia in 1998 ?2001, Country Director in Televoice Indonesia in 2001-2003 and Finance Director and Corporate Secretary in PT. Pelayaran Tempuran Emas, Tbk. in 2003-2007.

All members of the Audit Committee have the expertise, qualifications, skills and experience required to enable them to carry out their duties effectively.

JRPT Piagam Komite Audit




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