English | Bahasa Indonesia
Thursday, 5th of August 2021. 

Buana News - Finance Company in Indonesia

 
Home » Buana News » Detail
21 December 2012
Buana Finance Audit Committee Charter

BDF AUDITCOMMITTEE WORKING GUIDELINES & CHARTER
March 2005

 

1. Frame Work

The AC shall perform this function in accordance with the prevailing Laws and regulations, specifically Decision of the Chairmanof BAPEPAM Number: Kep-41/PM/2003, dated December 22, 2003.

2. Structure of Audit Committee

  1. The AC is committee established by the BOC in order to support the board to do its duties and tasks. AC members are appointed and dismissed by BOC.
  2. Audit Committee will consist of at least 3 members; of which at least 1 is and Independent Commissioner. The other members are also independent parties
  3. The Chairman of the AC is an Independent Commissioner

 

3. Duties of the Audit Committee

The Audit Committee task is to assist and advise to the Board of Commissioners including but not limited to the following matters:

  1. Analyze financial information that is going to be published by BDF. This includes such information as financial statements, projections, and other financial information;
  2. Analyze BDF compliance with Capital Market rules and regulations, and all also other rules and regulations relating to BDF business activities.
  3. Review the findings of any examination by regulatory agencies as well as any auditor observations
  4. Analyze the working plan of Internal Audit Department
  5. Review with management and the internal auditor the plans, activities, staffing and organizational structure of the internal audit function
  6. Ensure that there are no unjustitified restrictions or limitations on the internal audit function. Furthermore to concur in the appointment, replacement or dismissal of the internal auditor
  7. Assist the BOD & BOC with the selection process of the Public Accountants to be hired by BDF
  8. Prepare and periodically update the Audit Committee Working Guidelines and Charter
  9. Other Duties as specified by the Board of Commissioners.

 

4.Audit Committee Authority

 

In order to ensure the proper function of the Audit Committee, the Committee is granted the following authority.

The Audit Committee will have full free and unlimited access to all notes, records, documents, employess, information on funds, assets and also other company resourse so as to be able to carry out its duties. Where it feels the need, the AC will work together with the Internal Audit Department

 

5. Audit Committee Authority

  1. The Audit Committee shall meet at least once a month
  2. The Audit Committee meetings must be attended by at least 2/3 of total Audit Committee members. Committee members can attend in person or via tele-or video conference links.
  3. All meeting resolutions must be approved by majority vote

 

6. Reporting Responsibilities

  1. The Audit Committee has the obligation to prepare reports to Board of Commissioners regarding every specific assignment given by the Board to the Audit Committee.
  2. The Audit Committee has to prepare an annual report to Board of Commssioners regarding the activites conducted by the report must include a review of the implementation of Board of Directors and Board of Commissioners total  remuneration package to check for compliance with decision of the General Meeting of Shareholders.

 

7. Closing Remark

Both the Chairman of the BOC and the Chairman of the AC sign off on the next of these Guidelines and Charter, as well as on subsequent changes.

 


« back