Audit Committee
Audit Committee is an organ of the Board of Commissioners that assists the Board of Commissioners in performing its supervisory duties and function. The scope of supervision of the Audit Committee includes matters related to financial information, internal control systems, effectiveness of audits by External and Internal Auditors, effectiveness of risk management implementation, and compliance with the applicable laws and regulations.
Legal Basis
Indocement’s Audit Committee was established based on:
- OJK Regulation No. 55/POJK.04/2014 on Establishment and Work Guidelines of the Audit Committee;
- Indocement's Board of Commissioners' Decision Letter No. 012/Kpts/Kom/ITP/XII/2001 dated 6 December 2001 on the Audit Committee Charter;
- Indocement's Board of Commissioners' Decision Letter No. 007/Kpts/Kom/ITP/XII/2013 dated 6 December 2013 on Amendment to Audit Committee Charter;
- Indocement's Board of Commissioners' Decision Letter No. 001/Kpts/KOM/ITP/V/2022 dated 24 May 2022 on the Appointment of Audit Committee's Members.
Audit Committee Work Guidelines
The Company already has an Audit Committee Charter that has been validated by the Company's Board of Commissioners on 6 December 2001, as stated in the Board of Commissioners' Decision Letter No. 012/Kpts/Kom/ITP/XII/2001, and has been adjusted on 6 December 2013, that is through the Statement of Decision Agenda No. 2 of the Board of Commissioners' Meeting No. 007/Kpts/Kom/ITP/XII/2013 on the Amendment to Audit Committee Charter, in order to meet Bapepam-LK No. KEP643/BL/2012 dated 7 December 2012. Furthermore, in performing its duties and responsibilities, the Audit Committee also refers to Financial Services Authority Regulation No. 55/POJK.04/2015 on Establishment and Work Guidelines of Audit Committee. Audit Committee Work Guidelines can be downloaded here.
The Audit Committee Charter, covers the following:
- Audit Committee’s Purpose
- Audit Committee’s Membership
- Audit Committee’s Chairman
- Audit Committee’s Term of Service
- Audit Committee’s Duties and Responsibilities
- Audit Committee’s Authorities
- Audit Committee’s Meetings
- Audit Committee’s Reports
Audit Committee’s Membership
Pursuant to the Committee Audit Charter, concerning Indocement’s Audit Committee membership which consists of:
- One Chairperson who is an Independent Commissioner and
- Two members who are independent and have expertise as members.
The Audit Committee is appointed and dismissed by the Board of Commissioners for a period of three years from the appointment, and may be reappointed for one next period. The term of service for the Audit Committee members shall not exceed the term of service of the Board of Commissioners.
The composition of the members of the Indocement Audit Committee as of December 31, 2023 can be seen in the Company menu > Management
Audit Committee’s Authority
The committee is empowered to review or oversee matters within its scope of responsibility, to access the Company’s documents, data and information, to directly communicate with any Employee, including the Board of Directors, internal auditor, independent auditor and any relevant parties and to advice from external counsel auditors or other experts as necessary.
Audit Committee Meeting
| No. | Date | Agenda | Participants |
| 1 | 23 April 2024 |
|
All members of the Audit Committe |
| 2 | 26 August 2024 | Meeting with Public Accountant for audit 2024 | All members of the Audit Committe |
| 3 | 25 October 2024 |
|
All members of the Audit Committe |
| 4 | 11 December 2024 | Meeting with Public Accountant | All members of the Audit Committe |
The Implementation of The Audit Committee's Program
| No | Rencana Kerja Work Plan |
Realisasi Realization |
| 1 | Holding meeting with Public Accounting Firm "Tanudiredja, Wibisana, Rintis dan Rekan" (member firm of PwC global network), which changed its name to "Rintis, Jumadi, Rianto & Rekan" (member firm of PwC global network) effective as of 16 May 2024. | Meetings were held on: 26 August 2024 and 11 December 2024 |
| 2 | Holding meeting with Internal Audit Division | The meeting were held on 23 April and 25 October 2024 |
| 3 | Evaluating the performance of Public Accounting Firm "Tanudiredja, Wibisana, Rintis dan Rekan" (member firm of PwC global network), with Lukmanul Arsyad, S.E. as Public Accountant that audited the Company's books for the 2023 fiscal year. | Hasil Evaluasi Komite Audit telah diserahkan kepada Dewan Komisaris pada 23 April 2024 dan dilaporkan ke OJK pada 15 Mei 2024 The evaluation result of the Audit Committee was submitted to the Board of Commissioners on 23 April 2024, and it was reported to OJK on 15 May 2024 |
| 4 | Recommending the appointment of Public Accounting Firm "Tanudiredja, Wibisana, Rintis & Rekan" (member firm of PwC global network), and Lukmanul Arsyad S.E. as Public Accountant or other partner appointed by Public Accounting Firm "Tanudiredja, Wibisana, Rintis & Rekan" (member firm of PwC global network) to audit the Company's books for the 2024 fiscal year. | The recommendation of Audit Committee was submitted to the Board of Commissioners on 2 May 2024, and it was also reported to OJK on 7 August 2024 |
