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internal audit

The Internal Audit Unit plays a vital role in increasing value and improving company operations through a systematic approach. The Internal Audit Unit is also required to enhance the effectiveness of risk management, internal control and the implementation of GCG in the Company.

Internal Audit Unit Charter

In carrying out its duties and responsibilities, the Internal Audit Unit is guided by the Internal Audit Unit charter. The Board of Directors stipulated the charter on August 18, 2017.

Internal Audit Unit: Structure and Position

Members of the Company's Internal Audit Unit are appointed and dismissed directly by the President Director, with the approval of the Board of Commissioners. Therefore, the implementation of their duties is directly accountable to the President Director. In addition, the Internal Audit Unit has direct access to the Audit Committee to coordinate the implementation of the internal audit.

Profile of the Internal Audit Unit Head

In accordance with BOD Decree No. 057/MCI/CORP/E-IV/18 dated 10 April 2018, the Company appointed Lenny Stelyanto as the Internal Control Unit Head (and concurrently as the Internal Audit Unit Head).

Internal Audit Unit Duties and Responsibilities
The Internal Audit Unit has the duties and responsibilities to:

1. Assist the BOD, the BOC and/or the Audit Committee in implementing GCG, which encompasses audit, assessment,
presentation, evaluation, advice and improvement functions as well as providing assurance and consultation services to all units within the Company in order for them to be able to conduct their duties and responsibilities in an effective and efficient manner, in line with the policies of the Company and the GMS
2. Prepare and implement the annual Internal Audit plan, based on the analysis of risk faced by management in achieving the Company’s vision, mission and strategy as well as business strategy
3. Examine and evaluate internal control implementation and the risk management system, in line with Company policies.
4. Examine and evaluate the efficiency and efficacy of the systems and procedures in place for Finance, Accounting, Operations, Marketing, Human Resources, IT and other activities
5. Provide advice for improvement and objective information on audited activities across all levels of management
6. Prepare an audit result report and present said report to the President Director and the BOC and/or the Audit Committee
7. Oversee, analyze and report all corrective actions that have been recommended

8. Collaborate with the Audit Committee
9. Coordinate with other internal audit groups or those without their own internal audit staff
10. Conduct special audits within the internal control scope assigned to it by the BOD, BOC and/or the Audit Committee

11. Prepare programs to evaluate the quality of internal audit activities that have been performed

In addition, the Internal Audit Unit is authorized to:
1. Prepare, amend and implement internal audit policy including allocation of audit resources, determining a focus, procedures, scope of work and schedule for audit, as well as implementing the techniques deemed necessary to achieve stated audit goals
2. Obtain all documents and notes that are relevant to the Company and request information on the audited objects, in verbal or written form and in real time
3. Verify and examine the reliability of the information it has obtained, in relation to the assessment of the audited system’s efficacy
4. Ensure that management has conducted the recommended follow - up measures on the results of its reports
5. Communicate directly with the Board of Commissioner, the Board of Director and/or the Audit Committee as well as with any member of the Board of Commissioners, Board of Director and/or the Audit Committee
6. Conduct regular and ad-hoc meetings with the Board of Commissioners, Board of Directors and the Audit Committee and
7. Coordinate its activities with those of the external auditor. The Internal Audit Unit has no authority over the implementation or responsibility for the audited activities; however, its responsibility lies in the assessment and analysis of such audited activities

Internal Audit Unit's Implementation of Duties

Throughout 2023 the Internal Audit Unit conducted its supervisory duties and audited certain functions within the Company, in accordance with the duties and responsibilities as stipulated in the Internal Audit Charter.

Internal Audit Unit Competency Development

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

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

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