audit committe

The establishment of the Audit Committee and the Audit Committee Charter that provides a guideline for conducting its duties and functions, was based on OJK Regulation No. 55/POJK.04/2015 on the Establishment and Guidelines for Audit Committee’s Duties, through the Audit Committee Establishment Letter No. 04/SK-DIR/DIVA/VIII/2018 dated 31 August 2018 on the Appointment of the Chairperson and Members of the Audit Committee.

Audit Committee Membership

The Audit Committee composition as of the end of 2019 was as follows:
Siska Pratiwi (Independent Commissioner) - Chairperson
Cipta Indriati - Member
Semi Winasih - Member


All current members of the Audit Committee were appointed in 2018, for a term of office of five years, until 2023. The term of office of any member of the Audit Committee shall not exceed their term of office as a member of the BOC.


Audit Committee Duties and Responsibilities

The duties, authorities, and responsibilities of the Audit Committee as stated in the OJK Regulation No. 55/POJK.04/2015 are as follows:
1. Reviewing the Company’s financial information to be issued to the public and/or authorities regarding the financial statements, projections, and other reports related to the Company’s financial information.

2. Reviewing the Company’s compliance with prevailing regulations related to the Company’s activities.
3. Providing an independent opinion in the case of a difference of opinion between the Management and the Accountant for services rendered.
4. Providing recommendations to the BOC regarding the appointment of Accountant to be based on the independence, scope of work, and fee.
5. Reviewing the implementation of audit by the internal auditor and observing the follow-up measures by the BOD on all internal auditor’s findings.
6. Reviewing the risk management activities conducted by the BOD, if the Company does not have any risk monitoring activity under the BOC.

7. Reviewing the complaints related to the accounting and financial reporting processes of the Company.
8. Reviewing and providing recommendations to the BOC related to any potential conflict of interest.
9. Maintaining the confidentiality of documents, data, and information of the Company.

 

The Audit Committee conducted the duties, executed the authority and responsibilities as stated in the above OJK Regulation.
In conducting its duties, the Audit Committee retains the following authority:
1. Access the documents, data, and information of the Company regarding its employees, funds, assets, and resources needed.
2. Communicate directly with the employees, including the BOD and the party conducting the internal audit, risk management, and accounting functions related to the Audit Committee’s duties and responsibilities.
3. Involve independent parties outside of the Audit Committee needed to assist its duties (if necessary).
4. Execute the other types of authority bestowed by the BOC.


The Audit Committee has properly performed all its duties and responsibilities as detailed above in 2019 without any considerable hindrance.

 

Audit Committee Independence

The Audit Committee ensures its independence in carrying out its duties and responsibilities by having an Independent Commissioner as the Committee’s Chairperson.

 

Audit Committee Meetings

The Audit Committee is required to conduct one Audit Committee meeting at least once every three months, or four times in a year.

In 2019 the Audit Committee conducted 4 meetings, all of which were attended by all members of the Audit Committee.

 

Audit Committee Members’ Profiles

 

Siska Pratiwi
Chairman
Her profile is presented in the BOC Profile section.

 

Cipta Indriati
Member

Indonesian citizen, domiciled in Jakarta. Born in 1993. Graduated from the Kwik Kian Gie School of Business in 2014. Appointed as member of the Company’s Audit Committee in 2018. Previously employed as Senior Auditor at KPMG Indonesia (2014–2017).

 

Semi Winasih
Member
Indonesian citizen, domiciled in Jakarta. Born in 1991. Graduated with a Bachelor in Information Systems degree from Bina Nusantara University in 2015. Appointed as member of the Company’s Audit Committee in 2018. Previously employed as Junior System Analyst at PT
Abhimata Persada (2011–2013), and as Data Analyst at PT Ekosistem Telekomunikasi Indonesia (2014–2017).

*Source : PT NFC Indonesia Tbk. Annual Report 2019