GOVERNANCE


AUDIT COMMITTEE

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
Tjandrawati Waas Chairman Independent Commisioner 2015-2017
Buntoro Muljono Member - 2015-2017
Stephen Z. Satyahadi Member - 2015-2017

1. Tjandrawati Waas

Chairman of Audit Committee

Indonesian Citizen, born in 1955. Obtained a Bachelor Degree of Civil Engineering from Bandung Institute of Technology and Master of Business in Finance Management from Pace University, New York. Appointed as the Chairman of Audit Committee since May 23, 2017.

Previously, served as the Director of PT Patria Maritime Lines and later served as the Director of PT United Tractors Pandu Engineering in 2008-2013. She served in several posts in PT United Tractors Tbk, namely as Corporate Secretary, Legal & Communication Division Head (2007-2008) and Budget & Investor Relations Division Head (2001-2002). She started her career in Astra Group as Electronic Data Processing Trainee in PT Astra International Tbk (1982-1983) and served as Astra Management Development Institute (AMDI) Deputy Head in 1994. After that, she served as Finance & Administration Division Head in Federal Nittan Industries (1998-1999).

2. Buntoro Muljono

Member of Audit Committee

Indonesian Citizen, born in 1955. Obtained a degree of Electrical Engineering and Economy from University of Indonesia. Appointed as member of the Audit Committee since May 23, 2017.

Began his career as Management Trainee of United Tractors (1981-1983), General Manager of Pandu Dayatama Patria (1985-1992), and General Manager of Corporate Finance of United Tractors (1993-1999). Previously served as Finance & Administration Director of United Tractors (1999-2006) and further as President Director of Toyota Astra Financial Services (2006-2014). In addition, also serves as Director or Commissioner in several subsidiaries of PT United Tractors Tbk among others; Commissioner of PT Traktor Nusantara and Director of United Tractors Pandu Engineering.

3. Stephen Z. Satyahadi

Member of Audit Committee

Indonesian Citizen, born in 1943. Graduated with a degree in Accounting from University of Indonesia in 1967. Appointed as a Member of Audit Committee of the Company since May 23, 2017.

Prior to that, served as the President Director of Bank Universal (1990-2002) and the President Director of Bank Perkembangan Asia (1986-1990). Has been a part of Astra since becoming the General Manager of Finance and Corporate Treasury of Astra from 1980 to 1985. Also served as the Vice President Director of Astra Sedaya Finance in 1983. Started his career in 1968 at Bank of Tokyo, Jakarta, and then moved to Citibank N.A. (1970-1980) in the field of bank operations and the and the latter, served as the Assistant Vice President of Marketing Corporate Banking.

Audit Committee Charter

 
Audit Committee Charter (English)