The Audit Commitee was established by the Board of Commissioners to achieve the most efficient and effective audit results, the Company developed and endorsed working guidelines known as the Audit Committee Charter.
Composition and Profile of the Audit Committee
The Audit Committee is headed by an Independent Commissioner and consists of independent members since January 01, 2022, as follows:
|Chairman||Beti Puspitasari Santoso|
|Member||Mohamed Idwan Ganie|
BETI PUSPITASARI SANTOSO
An Indonesian citizen born in Cirebon in 1959, Beti Puspitasari Santoso has served as Independent Commissioner of PT Global Mediacom Tbk since July 27, 2015.
Previously, she served as Branch Leader at Bank Dagang Nasional Indonesia, Associate Director PT MNC Investama Tbk (1996-1999) and Director of PT MNC Investama Tbk (2000-2002).
She also served as Committee Public Leader of Asosiasi Perusahaan Efek Indonesia (APEI) (2001-2005) and President Director of PT MNC Kapital Indonesia Tbk (2002-2004).
In 2004-2007, she served as Director of PT Rajawali Citra Televisi Indonesia (RCTI) and then as Director of RCTI (2009-2013) and Vice President Director of RCTI (2013-2014).
She earned her bachelor’s degree in Economics from Parahyangan University Bandung in 1985.
MOHAMED IDWAN GANIE
Indonesian citizen, born in 1955.
Mr Ganie has served as Independent Commissioner PT Global Mediacom Tbk since 19 June 2006, based on the resolution of the Annual General Meeting of Shareholders as stated in Deed of Statement of Meeting Resolution No. 73 dated 19 June 2006. He holds licenses as an advocate/lawyer and legal consultant. He currently serves as Managing Partner of Lubis, Ganie and Surowidjojo (LGS) law firm.
He graduated from the Faculty of Law of the University of Indonesia and holds a PhD in Law from the University of Hamburg.
He is Chairman of the Association of Indonesian Anti-Trust Lawyers (Perkumpulan Konsultan Hukum Persaingan Usaha) and Chairman of the Indonesian Court of Arbitration of Sports (Badan Arbitrase Keolahragaan Indonesia).
He is an Arbitrator at the Singapore International Arbitration Centre (SIAC), The Kuala Lumpur Regional Centre for Arbitration (KLRCA) and the Court of Arbitration for Sport (CAS) in Lausanne.
He is a Fellow (FSIArb) of the Singapore Institute of Arbitrators and a member of the Indonesian Bar Association (PERADI), the Asia Pacific Bar Association, the Law Council of Australia, the Indonesian Association of Capital Market Lawyers and the Association for International Arbitration (AIA).
He is registered to the Indonesian Bar and is a licensed Capital Market lawyer. He is a senior lecturer at the Faculty of Law of the University of Indonesia and a member of the Global Leadership Board of the US-Asia Institute in Washington DC.
For two consecutive years (2010-2011), He was named one of the 100 best lawyers in the world by London's Lawyer Monthly Magazine for his expertise in dispute resolution.
Since 2016, he has followed the following seminars or congress:
1. Convergence of Asian Business Laws Conference in Singapore;
2. In-house Congress in Jakarta;
3. PKPA-Legal Opinion in Jakarta;
4. CIArb Singapore Centenary Conference in Singapore;
5. Asia Pacific International Arbitration Conference in Bali;
6. 4th Annual Kluwer Law-Indonesia & SE Asia International Arbitration Summit in Jakarta;
7. SIAC Jakarta Conference-SIAC New Rules;
In 2019, he participated in the following seminars and/or conventions:
1. Associaiton of Capital Market Legal Consultants in Jakarta;
2. Singapore International Arbitration Centre (SIAC) Jakarta Conference;
3. Indonesian Arbitration and Mediation Center (PAMI) in Jakarta;
4. Indonesian National Arbitration Board in Jakarta;
5. Geneva Group International (GGI) Asia Pacific Regional Conference in Bali.
An Indonesian citizen, Born in Surabaya in 1948.
He earned a Doctorate of Philosophy in Telecommunication Engineering in 1982 and a Master of Science degree in Telecommunication Engineering with a Minor in Business Management from the University of Wisconsin, Madison, USA in 1978. In addition, he also earned a Master's degree in Telecommunication from the Bandung Institute of Technology in 1976 and a Bachelor of Electrical Engineering majoring in Telecommunications from the Ten November Institute of Technology in 1971. He has 30 years experience in the broadcasting and pay TV business. Previously, he served as President Director, Senior Executive and member of the Board of Directors of PT Surya Citra Televisi (1989-2003), Commissioner (2004-2007) and Director (2009-2014) of PT Media Nusantara Citra Tbk, President Director of PT Nusantara Vision (2007-2008), Commissioner of PT Cipta Televisi Pendidikan Indonesia (2009-2013), Commissioner of PT MNC Sky Vision Tbk (2009-2012), President Director of PT Media Citra Indostar (2007-2013), Director of PT Media Nusantara Citra Tbk (2009-2014). Currently, he also serves as Commissioner at PT MNC Kabel Mediakom, PT Infokom Elektrindo (2015-present).
Duties and Responsibilites of The Audit Committee
1. To review the Company’s financial information released to both public and/or stakeholders, including financial
reports, projections and other documents related to the Company’s financial data.
2. To review the Company’s compliance with applicable laws and regulations related to its business activities.
3. To provide objective reviews when disagreement occurs between the management and the appointed public
accountant regarding services rendered.
4. To give recommendations to the Board of Commissioners regarding the appointment of a public accountant
based on independency, scope of work and fees.
5. To review the auditing process by the Internal Audit and provide supervision on follow-up activities by the
Board of Directors based on Internal Audit findings.
6. To review risk management activities conducted by the Board of Directors, in case the risk management
committee under the Board of Commissioners has not been established yet.
7. To review complaints concerning the Company’s accounting and financial reporting procedures.
8. To provide reviews and advise to the Board of Commissioners regarding the potential occurrence of conflicts
of interest in the Company.
9. To keep confidentiality of the Company’s documents, data and other information.
The Authority of The Audit Committee
- To access any document, data and information related to the Company’s employees, funds, assets and resources as required.
- To communicate directly with employees, including the Board of Directors and other parties who serve as internal audit, risk management and Public Accountant regarding its duties and responsibilities as Audit Committee.
- To involve independent parties, outside Audit Committee members, to assist in the implementation of its duties (if necessary).
- To perform other tasks given by the Board of Commissioners.
The Implementation of The Audit Committee
1. The Audit Committee conducted a review on the Consolidated Financial Statements for the Fiscal Year 2019 that was audited by the external auditor, Public Accounting Firm Kanaka Puradiredja, Suhartono (KPS) dan Rekan. The assessment on the Consolidated Financial Statements included the implementation effects of SFAS and ISAK which became effective in 2019. The External Auditor together with Audit Committee also discussed about critical accounting considerations in subsidiaries, significant accounting estimates, legal cases, as well as other significant issues and transactions in 2019. The report on Audited Consolidated Financial Statements was published with unqualified opinion. With regards to audit engagement conducted by the External Auditor, the Audit Committee believes that the auditing process was conducted with the highest sense of integrity and rofessionalism. There was no reason to believe in the existence of conflicts of interest that could affect the Auditor’s independency.
The Audit Committee also reviewed the Company’s operational activities and financial conditions reflected in the Consolidated Financial Statements covering quarters I, II, III and IV in the current year.
2. The Audit Committee conducted a review on legal activities concerning compliance with the Company’s applicable regulations, including compliance with delivery of disclosure to the capital market regulatory authority. The Audit Committee also assessed the Company’s litigation processses that emerged in both current and previous years.
3. The Audit Committee reviewed internal audit activities in 2019 and implementation of follow-up activities on the Internal Audit Unit findings. The audit activities, conducted by the Internal Audit Unit until the fourth quarter of 2019, were grouped based on the assignments for each business lines.
4. The Audit Committee reviewed the effectiveness of risk assessment, Whistleblowing System (WBS) and Compliance & Control Self Assessment (CCSA).
5. The Audit Committee examined complaints related to the Company’s accounting and financial reporting processes.
6. The Audit Committee kept the confidentiality of the Company’s documents, data and information.
Audit Committee Meetings
The results are recorded in the minutes of each meeting signed by all members of the Audit Committee and then submitted to the Board of Commissioners.