Audit Committee

 

The Company established its Audit Committee pursuant to the Bapepam-LK Regulation No.IX.I.5, Appendix to the Head of Bapepam-LK’s Decision Letter No. Kep- 643/BL/2012 dated December 7, 2012 concerning the Establishment and Guidance on the Implementation of the Duties of the Audit Committee, as updated by POJK No. 55/POJK.04/2015 dated 23 December 2015 and enacted on 29 December 2015, and IDX Regulation No. I.A, Appendix to IDX Board of Directors’ Decision Letter No. Kep-00001/BEI/01-2014 dated January 20, 2014 and effective January 30, 2014 concerning the Listing of Stocks and Equity other than Stocks Issued by Public Listed Companies.

 

The Audit Committee was established to assist the Board of Commissioners in their supervision of the management of Company. The Audit Committee is responsible for establishing adequate internal controls, improving quality of transparency and financial reporting as well as assessing the scope, accuracy, independence and objectivity of the external audit. According to the Audit Committee Charter agreed by the Board of Commissioners, the Company’s Audit Committee consists of 3 (three) members, one of whom is the Chairman, who also serves as the Company’s Independent Commissioner.

 

 

THE AUDIT COMMITTEE STRUCTURE

 

The structure of the Company’s Audit Committee based on the Decision Letter No. CSS.060-2014 dated 16 April 2014

is as follows:

 

Chairman: Jonathan L. Parapak

Members:

grey dot   Lie Kwang Tak

grey dot   Siswanto Pramono

PROFILE OF THE AUDIT COMMITTEE 

 

Jonathan L. Parapak

Chairman

 

Career and Work Experience

Mr. Jonathan L. Parapak has been serving as an Independent Commissioner of the Company since 2001 pursuant to AGMS Act No.95 dated 30 May 2001, signed before Mrs. Poerbaningsih Adi Warsito, S.H., a Notary in Jakarta, having served as a Commissioner of the Company in the previous term. He has held several senior positions during his career. He served as President Director of PT Indosat for the period 1980 – 1991 and he was President Commissioner of PT Indosat during the period 1991 – 1998. He was also the General Secretary of the Department of Tourism, Post and Telecommunications for the period of 1991 – 1999. He has served as an Independent Commissioner in a number of prominent companies, such as PT Matahari Putra Prima Tbk (2009 – 2014), PT Lippo Karawaci Tbk (2011 – 2014), and PT Multipolar Technology Tbk (2013 – present). He is an active member of the academic community and has been Rector of Pelita Harapan University since 2006.

 

Academic Background

He earned a Bachelor degree in Engineering and a Master of Engineering Science degree from the University of Tasmania, Australia in 1966 and 1968, respectively. He has also been awarded a number of honorary titles, such as Honorary Doctor of Humanity from Ouachita Baptist University, USA; Honorary Doctor of Engineering from Tasmania University, Australia; the Honorary Professorship in Education and Humanity from Corban College, USA; and the Adjunct Professorship in Engineering from Queensland University of Technology, Australia.

 

 

Lie Kwang Tak

Member

 

Career and Work Experience

Mr. Lie Kwang Tak began his career in 1980 in Touche Ross & Darmawan, a consulting firm, and was then appointed as a Director of Trisula Corporation in 1991 and Executive Director of PT Southern Cross Textile Industries in 2003, and has been a partner of PT Bina Semesta Analisindo since 1985.

 

Academic Background

He graduated from the Faculty of Economics of the University of Indonesia in 1982.

 

 

Siswanto Pramono

Member

 

Career and Work Experience

Mr. Siswanto Pramono has held several senior positions at various companies, including as Managing Director at Dai-Ichi Kangyo Bank, Japan (1990-1995) and as Account Officer at PT Lippo Pasific Finance Tbk (1984-1989).

 

Academic Background

He earned a Bachelor of Science degree in Commerce, majoring in Economics, from the University of Santo Tomas, Manila, Philippines in 1983.

 

SCOPE OF DUTIES AND RESPONSIBILITIES

 

The Audit Committee has the following duties and responsibilities:

grey dot  Reviewing the financial information to be disclosed by the Company to the public and/or the authorities,

    including financial statements, projections, and other reports relating to the Company’s financial information;

grey dot  Reviewing the Company’s compliance with laws and regulations relating to its business activities;

grey dot  Providing independent opinion in the event of disagreements between management

    and the Accountant regarding the services rendered;

grey dot  Providing recommendations to the Board of Directors on the appointment of the accountant,

    based on independence, the scope of the assignment, and compensation for services;

grey dot  Reviewing the implementation of audits by the internal auditors and

    supervising the Board of Directors’ follow- up on the internal audit findings;

grey dot  Reviewing the implementation of risk management activities carried out by the Board of Directors;

grey dot  Examining complaints relating to the Company’s accounting and financial reporting processes;

grey dot  Reviewing and advising the Board of Commissioners on potential conflicts of interest of the Company; and

grey dot  Maintaining the confidentiality of the Company’s documents, data and information.

AUDIT COMMITTEE CHARTER