Audit Committee is a committee established by the Company to assist the implementation of duties of the Board of Commissioners related to the supervisory of financial reporting, internal control, and internal audit.
Members of the Audit Committee are appointed and dismissed by the Board of Commissioners. Audit Committee membership ends if a member of the Audit Committee is disqualified based on statutory provisions, resigns, retires, or is not re-elected as a member of the Audit Committee. The service period of the Audit Committee is the same as the service period of the Board of Commissioners and can only be re-appointed for the next 1 (one) period.
Based on the Charter of the Audit Committee, the
Audit Committee consists of at least 3 (three) members from the
Independent Commissioners and external parties, whereas 1 (one)
Independent Commissioner acting as the chairperson.
Duties, Authorities and Responsibilities Audit Committee
The Audit Committee works collectively and independently in carrying out its duties. The Audit Committee may cooperate with other units within the Company, and may employ experts and/or consultants, for areas where the Internal Audit Unit has no expertise to assist the Audit Committee, with the approval of the Board of Commissioners and at the expense of the Company.
Duties of the Audit Committee of the Company are as follows:
Related Party Transactions and Conflict of Interest Transactions
Authorities of the Audit Committee, are as follows:
The Audit Committee is responsible to the Board of Commissioners and must act independently in carrying out its duties and responsibilities.