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internal control system

The Company’s currently-prevailing internal control system has been designed in reference to generally-accepted internal control standards as well as industry best practices. The system was established to control and prevent risks in the business run by the Company.

The internal control system implemented by the Company consists of the following components:
1. Business risk reduction;
2. Protection of the Company’s assets;
3. Reliable financial reporting system; and
4. Fulfillment of applicable laws and regulations.

All of these components have been appropriately implemented by the Company, including in each of the duties and responsibilities of the Company’s organs.

Overview of the Effectiveness of Internal Control System

The Company continues to review the effectiveness of the implementation of SPI periodically and thoroughly and to provide confidence to interested parties regarding the Company’s operational activities.

Statement of the Board of Directors and/or Board of Commissioners on the Adequacy of the Internal Control System

The Board of Commissioners and the Board of Directors view the implementation of the internal control system throughout 2021 to be quite adequate.. Furthermore, the evaluation results will be used as a basis for Management to improve and develop the internal control system so that its implementation can run effectively and efficiently, as well as to encourage growth and sustainability of the Company’s business.

*Source: PT M Cash Integrasi Tbk. Annual Report 2022

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