Audit Committee

Composition of Audit Committee

Independency Statement

Audit Committee Charter

  1. Establishment and objectives
  2. Composition, structure and membership,
  3. Duties and responsibilities,
  4. Authorities,
  5. Meetings,
  6. Reporting,
  7. Work relations,
  8. Handling complaints or reporting of suspected violations related to financial statements, and
  9. Closing

Duties, Responsibilities and Authorities

  1. Provide opinions to Board of Commissioners on reports or matters delivered by Board of Directors to Board of Commissioners and identify matters that require attention of Board of Commissioners;
  2. Review financial statements to be published by the Company;
  3. Review compliance with capital market regulations and the relevant laws and regulations;
  4. Review examination conducted by external auditors;
  5. Assess internal control effectiveness, report to Board of Commissioners on various risks encountered by the Company and risk management implementation by Board of Directors;
  6. Report to Board of Commissioners on review of lawsuits involving the Company;
  7. Maintain confidentiality of corporate documents, data and information; and
  8. Prepare and improve Audit Committee Guidelines.

Audit Committee Meeting

Summary of Audit Committee Activity Report in 2019

  1. Reviewed and discussed 2018 consolidated financial statements and 2019 quarterly consolidated financial statements;
  2. Assessed performance of public accountants and/ or public accounting firms that audit the Company’s annual financial statements for financial year 2018;
  3. Provided recommendation to Board of Commissioners on appointment of public accountant and or public accounting firm to audit the Company’s Financial Statements for financial year 2019;
  4. Provide advice Board of Commissioners regarding the formation, procedures, work plans and findings of Internal Audit