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audit committe

The Audit Committee is the Company's organ that assists the Board of Commissioners in supervising the effectiveness of the internal control system, internal audit and financial reporting processes. In addition, the Audit Committee was formed to support the Company in implementing GCG principles.

Audit Committee Charter

The Audit Committee charter guides the Audit Committee in carrying out its duties and responsibilities. The charter was enacted on August 16, 2017.

Audit Committee Membership
The establishment of the Audit Committee was based on the Decree of the Company’s BOC Meeting No. 002/MCI/SK-DK/I-VIII/17 on 16 August 2017. The Company reappointed the membership composition of the Company's Audit Committee on 13 July 2022 based on the statement of the BOC of the Company No. 001/MCI/SK-DK/E-VII/22. The composition of the members of the Audit Committee as of December 31, 2023 is as follows:


1. Himawan Leenardo – Chairman
2. Sari Damayanti – Member
3. Karlina – Member

 

The term of office of members of the Audit Committee is to be no longer than the term of office of members of the Board of Commissioners.


Audit Committee Duties and Responsibilities
The Company’s Audit Committee has the duties and responsibilities to:
1. Examine all financial information to be published by the Company for the public and/or the authorities, among others in the form of financial statements, financial projections and other reports related to the Company’s finances
2. Examine compliance with prevailing regulations related to the Company’s business activities
3. Provide an independent opinion should there be a discrepancy of opinion between the Management and the Accountant on services rendered by the latter
4. Provide a recommendation to the Board of Commissioners on the appointment of an Accountant, based on independence, scope of work, assignment and fee
5. Examine the implementation of the audit by internal auditors and supervise follow-up measures implemented by the Board of Directors for each finding of the internal auditors
6. Examine the risk management activities performed by the Board of Directors, if the Company does not yet have a risk monitoring function under the Board of Commissioners
7. Examine any grievances related to the financial accounting and reporting processes of the Company
8. Examine and provide advice to the Board of Commissioners related to any potential conflict of interest in the Company
9. Maintain the confidentiality of documents, data and information belonging to the Company

 

In addition, in carrying out its duties and responsibilities, the Audit Committee has the authority to:
1. Access documents, data and information belonging to the Company, which are related to Company employees, funds and assets
2. Directly engage with Company employees, including the Board of Directors and the parties responsible for conducting internal audit and risk management functions, as well as the accountant, in relation to the duties and responsibilities of the Audit Committee
3. Involve independent parties outside of the Audit Committee, when required, to assist in the execution of its duties (if necessary) and
4. Perform any other authority vested to it by the Board of Commissioners


All committee members, both current and former, must maintain the confidentiality of the documents, data and information belonging to the Company obtained from both internal and external parties while they are or were in office as committee members and may only use such confidential information in the interest of executing their duties.

 

Audit Committee Independence

The Audit Committee carries out its duties and responsibilities in accordance with the Audit Committee Charter by maintaining the principle of independence. All members of the Audit Committee come from independent external parties. The statement of independence of the Audit Committee is shown in the following table of fulfillment of the independence aspects:

a. Not a person in a public accounting firm, legal consulting firm, public appraiser service office or other party providing assurance services, non - assurance services, appraisal services and/or other consulting services to the issuer or public company concerned within the last 6 months

b. Not a person who works or has the authority and responsibility to plan, lead, control or supervise the activities of the issuer or public company within the last 6 months, except for an Independent Commissioner

c. Does not own shares directly or indirectly in Issuers or public companies

d. Has no affiliation with members of the Board of Commissioners, members of the Board of Directors or Major Shareholders of issuers or public companies

e. Does not have a direct or indirect business relationship related to the business activities of the issuer or public company

 

Audit Committee Meetings

The Audit Committee must hold an internal meeting at least once every 3 months. In 2023, the Audit Committee held 4 meetings.

Audit Committee Competency Development

To add insight, competence, and expertise, the Company provides opportunities for each member of the Audit Committee to participate in various competency development activities, such as seminars, workshops, training held by both internal and external parties, as needed. In addition, each member of the Audit Committee continues to develop competence independently through books or the internet.

*Source: PT M Cash Integrasi Tbk. Annual Report 2023

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