In the Company, the Audit Committee serves as an instrument with consultative function on GCG implementation in the field of monitoring and compliance, which takes direct reporting to the Board of Commissioners. In addition, the Audit Committee has an independent role to link the communication between levels, such as the Board of Commissioners, the Board of Directors, Company management, Internal Audit Unit and External Audit in relation to its functions and authority.
Independency of Audit Committee
In performing its function, the Audit Committee shall provide autonomous insights and opinion that are not affected by various interests. The provision of autonomous insights and opinion is aimed to generate accountable and reliable reference to be used in the formulation of the Company policy. The evidence of such commitment is realized as the stipulation of the Audit Committee criteria to maintain its independency. The criteria are as follows:
1. Does not have financial relation with the Board of Commissioners and the Board of Directors;
2. Does not own shares or have relation with share owners of the Company;
3. Does not have family relation with members of the Board of Commissioners, the Board of Directors and/or between members of the Audit Committee;
4. Does not serve as member of any Political Party and serve in the Government.
Duties and Responsibilities of Audit Committee
The Audit Committee shall be in charge and responsible for providing independent and professional opinions to the Board of Commissioners on any report or matter conveyed by the Board of Directors to the Board of Commissioners for further identification on which report that requires attention from the Board of Commissioners. The duties of the Audit Committee in details are as follows:
- To discuss year-end Audited Financial Statement draft with External Auditor;
- To help ACSET management in developing internal control system and effective performance of internal audit;
- To provide inputs in order to improve annual work plan of internal audit and composing internal audit work program;
- To provide inputs in order to improve audit implementation conducted by External Auditor;
- To discuss audit findings and monitor the management follow-up on the recommendations from Internal and External Auditors;
- To participate in the Company’s effort to implement GCG;
- To create the Audit Committee’s annual work plan and activity implementation report.
Composition of Audit Committee
Pursuant to the provision from Jakarta Stock Exchange No.Kep-305/BEJ/07-2004 dated July 19, 2004, Capital Market Supervisory Board (Bapepam) regulation No. IX.1.5 dated September 24, 2004 and Decision Letter of the Board of Commissioners No. 01/SK/KOM/XI/2013 of PT Acset Indonusa Tbk, an Audit Committee was established to support the Board of Commissioners in performing its duties. The Company’s Audit Committee was established on December 6, 2013, to realize the Company’s commitment in supporting Good Corporate Governance Implementation. The Company’s Audit Committee structure is as follows:
|Name||Position in Audit Committee||Position in Company||Terms of Office|
|Buntoro Muljono||Chairman||Independent Commissioner||2023-2025|
• Buntoro Muljono
Chairman of Audit Committee
Indonesian Citizen, born in 1955, domiciled in Jakarta. Graduated with a Bachelor’s Degree in Electrical Engineering (1981) and Bachelor’s Degree in Economics (1986) from University of Indonesia. He has been appointed as the Company’s Independent Commissioner since 2021 and was reappointed based on the Annual GMS Resolutions dated 19 Juni 2023.
He started his career at PT United Tractors Tbk as Management Trainee (1981-1983) up to being appointed as Director of UT Heavy Industry (S) Pte Ltd (1997-2006), Commissioner of PT Pamapersada Nusantara (1998-2001), Commissioner of PT Traktor Nusantara (1998-2006), Director of PT United Tractors Pandu Engineering (1999- 2006), and President Director of PT Toyota Astra Financial Services (2006-2014). Furthermore, he had career as Independent Commissioner of PT Komatsu Astra Finance (2017-2021), as well as Independent Commissioner and Chair of Audit Committee of PT United Tractors Tbk (2017-2021).
In addition to serving as an Independent Commissioner of the Company, he currently holds concurrent positions as Independent Commissioner of PT Surya Artha Nusantara Finance (since 2018), Chair of ACSET’s Audit Committee (since 2021), Chair of ACSET’s Nomination and Remuneration Committee (since 2021), and Chair of Risk Monitoring Committee of SANF (2022).
He has no financial, management, and family relationship with the other members of the Board of Commissioners, members of the Board of Directors, and Main and Controlling Shareholders.
• Lindawati Gani
Member of Audit Committee
Indonesian Citizen, born in 1962, domiciled in Jakarta. She holds a Bachelor of Economics degree in Accounting from Airlangga University (1985), Master of Business Administration from Indonesian Management Development Institute (IPMI) affiliated with Harvard Business School, Boston, United States of America (1986), Master of Management from Faculty of Economics and Business, University of Indonesia (1994), and Doctor of Philosophy (Ph.D) from Faculty of Economics and Business, University of Indonesia (2002). She has been appointed as the Company's Audit Committee since July 6, 2023.
Previously she served, among others, as Chair of the Master's Program in Professional Accounting Education of FEB UI (2008 – 2013), and held various positions in Astra Group including as an Audit Committee in PT United Tractor Tbk (2013 – 2017), PT Astra International Tbk (2017 - 2023) and PT Astra Agro Lestari Tbk (2019 – 2023).
She is a Professor at Faculty of Economics and Business, University of Indonesia (FEBUI) (2011), and currently a member of the Council of Professors in the University of Indonesia (DGB UI) (since 2015), and a member of the Academic Senate of the University of Indonesia (SA UI) (since 2014), member of the Honorary Council of the Code of Ethics of the Supreme Audit Agency of the Republic of Indonesia (MKKE BPK RI) (since 2021), and member of the Executive Board of the National Committee on Governance Policy (KNKG) (since 2022) and is active in the professional world both internationally and nationally.
Currently, she serves as an Independent Commissioner at PT Toyota Astra Financial Services (since 2021), PT Industri Jamu dan Farmasi Sido Muncul Tbk (since 2021), and as a member of the Audit Committee at PT Adaro Energy Tbk (since 2018) and PT Federal International Finance (since 2020).
She holds professional certifications from Chartered Accountant Indonesia, Fellow of the Chartered Institute of Management Accountants and Chartered Global Management Accountant, Fellow of the Certified Practicing Accountant Australia, and ASEAN Chartered Professional Accountant.
She has no financial, managerial, or family relationships with other members of the Board of Commissioners, members of the Board of Directors, as well as the Majority Shareholders and Controllers.
• Herawati P
Member of Audit Committee
Indonesian citizen, born in 1959, residing in Jakarta. She holds a Bachelor's degree in Economics from the University of Indonesia in 1983. She has been appointed as a member of the Company's Audit Committee on July 6, 2023.
She began her career in PT Wardley Summa Leasing as a Senior Manager. She joined Astra Group in 1992 and held various positions within the group, including Director of Finance of PT Astra CMG Life, Director of Finance of PT Astratel Nusantara, Director of Finance of PT Menara Astra, and the highest leader of Michael D Ruslim Astra Education Foundation.
She has no financial, managerial, or family relationships with other members of the Board of Commissioners, members of the Board of Directors, as well as the Major and Controlling Shareholders.