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 May 29, 2020, as follows:
|Chairman||Kardinal A. Karim|
|Member||John Aristianto Prasetio|
|Member||Mohamed Idwan Ganie|
KARDINAL A. KARIM
Kardinal Alamsyah Karim obtained his Master Degree in Management from Asian Institute of Management, Manila, Philippines in 1980. He was appointed as the Independent Commissioner of PT MNC Investama Tbk based on Deed No. 96 dated July 27, 2015, before Aryanti Artisari, S.H., M.Kn., Notary in Jakarta.
Currently, he also serves as the Chairman of Audit Committee, the Chairman of Risk Oversight Committee, and a member of Corporate Governance Committee of PT MNC Investama Tbk, a member of Audit Committee of PT MNC Sky Vision Tbk, and a member of Audit Committee of PT Surya Semesta Internusa Tbk. Prior to his current position, he also held several important positions, including: the President Director of PT Hexindo Adiperkasa Tbk (2010-2019), a member of Audit Committee of PT Nusa Raya Cipta Tbk (2013-2019), the Commissioner of PT Hitachi Construction Machinery Finance Indonesia (2012-2015), the Independent Commissioner and concurrently the Chairman of Audit Committee of PT Global Mediacom Tbk (2006-2015), the Independent Commissioner and concurrently the Chairman of Audit Committee of PT Ramayana Lestari Sentosa Tbk (2001-2014), the Independent Commissioner of PT Dynaplast Tbk (2001-2013), the President Commissioner of PT Hexindo Adiperkasa Tbk (2000-2010), and the Deputy Managing Partner of Kantor Akuntan Publik Prasetio, Utomo & Co. (Arthur Andersen) (1970-1998).
JOHN ARISTIANTO PRASETIO
An Indonesian citizen, born in 1950.
John Aristianto Prasetio has been an Independent Commissioner for PT Global Mediacom Tbk since 20 May 2015 as decided by the Annual General Meeting of Shareholders, which issued Deed of Statement of Meeting Resolution No. 49 dated 20 May 2015. He also sits as President Commissioner of Indonesia Stock Exchange, Special Advisor of General Atlantic, Independent Commissioner at PT Sarana Menara Nusantara Tbk, and Senior Advisor at Crowe Horwath Indonesia.
He was the Ambassador Extraordinary and Plenipotentiary of Indonesia to the Republic of Korea from October 2012 through 1 February 2017.
His experience includes as Executive Chairman of Prasetio Utomo, Asia Pacific Chief Executive Officer/ Area Managing Partner of Andersen Worldwide, Senior Advisory Partner of Ernst & Young Asia Pacific, and Chairman of Ernst & Young Indonesia.
He graduated with a degree in economics from the University of Indonesia in 1973 and has attended various executive programs abroad, such as the Program for Management Development at Harvard Business School, USA (1980).
In 2019, he participated in the following seminars and/or conventions:
1. 11 January 2019, Financial Services Authority (OJK): 2019 Financial Services Industry Annual Meeting and Directives from the President Indonesia, Ritz Carlton Pacific Place
2. 24 January 2019, Cybersecurity in Digital 4.0 Ecosystem, Indonesia Stock Exchange
3. 14 March 2019, Indonesian Central Securities Depository (KSEI): Discussion on Economy and Politics 2019, Main Hal IDX
4. 6 April 2019, Investment Discussion and Economic Analysis (IDEA) Interactive National Capital Market Seminar 2019: Indonesia's Digital-Based Economy To Look Into Investment Strategies in the Capital Market
5. 16 – 17 September 2019, Centre for Strategic and International Studies (CSIS) Global Dialogue 2019, Harnessing Frontier Technologies: Redesigning National, Regional and Global Architecture, Hotel Borobudur
6. 3 December 2019, Sustainable Development Investment Partnership (SDIP): Advancing Sustainable Infrastructure Financing Through Capital Markets and Insurance Growth Conference
7. 3 December 2019: Indonesia in the Midst of World Trade Uncertainty
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).
MOHAMED IDWAN GANIE
Indonesian citizen, born in 1955.
Mr Ganie has served as Independent Commissioner PT Globa 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 Londonâ€™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.
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
1. To access any document, data and information related to the Company’s employees, funds, assets and resources
2. 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.
3. To involve independent parties, outside Audit Committee members, to assist in the implementation of its duties
4. 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
December (two (2) meetings) in accordance with prevailing regulations and the Company’s Audit Committee Charter, the Audit Committee conducts its meetings periodically at least once every three (3) months.
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.