The Board of Commissioners established the Audit Commitee in order to achieve the most efficient and effective audit results, the Company has developed and endorsed working guidelines known as the Audit Committee Charter.

Composition and Profile of the Audit Committee

The new composition for the Audit Committee effective per September 21, 2020 is as follows:

Chairman :  Beti Puspitasari Santoso
Member :  John Aristianto Prasetio
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.


John Aristianto Prasetio

An Indonesian citizen, born in 1950. John Aristianto Prasetio has been an Independent Commissioner for PT Global Mediacom Tbk since May 20, 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 February 1, 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

Mohamed Idwan Ganie

Mohamed Idwan Ganie

Indonesian citizen, born in 1955. Mohamed Idwan Ganie has served as Independent Commissioner PT Global Mediacom Tbk since June 19, 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 Ph.D. 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 in Lausanne (CAS).

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.

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.

 

The legal appointment and term of office for the Audit Committee are as follows:

NAME POSITION AND LEGAL APPOINTMENT TERM OF OFFICE

Beti Puspitasari Santoso

Board of Commissioners Resolution No. 16.Kep.Kom/MCOM-CL/IX/2020 21 September 2020 – 4 September 2025
John Aristianto Prasetio Board of Commissioners Resolution No. 16.Kep.Kom/MCOM-CL/IX/2020 21 September 2020 – 4 September 2025
Mohamed Idwan Ganie Board of Commissioners Resolution No. 16.Kep.Kom/MCOM-CL/IX/2020 21 September 2020 – 4 September 2025
"

 

The Audit Committee’s autonomy is evident in the composition of its members, with 2 Independent Commissioners and a member who are altogether not affiliated with the Company.

Duties and Responsibilities of the Audit Committee
To assist the Board of Commissioners in their supervisory function within the Company, the Audit Committee carries out a number of tasks outlined in the Audit Committee Charter, as follows:

  • To review the Company’s financial information released to both public and/or stakeholders, including financial reports, projections and other reports related to the Company’s financial data.
  • To review the Company’s compliance with applicable laws and regulations related to its business activities.
  • To provide objective reviews when disagreement occurs between the management and the appointed public accountant regarding services rendered.
  • To give recommendations to the Board of Commissioners regarding the appointment of a public accountant based on independency, scope of work and fees.
  • 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.
  • 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.
  • To investigate complaints concerning the Company’s accounting and financial reporting procedures.
  • To provide reviews and advise to the Board of Commissioners regarding the potential occurrence of conflicts of interest in the Company.
  • To keep confidentiality of the Company’s documents, data and other information.

 

Authority of the Audit Committee
In performing its duties, the Audit Committee has the following authority

  • 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 the Audit Committee members, to assist in the implementation of its duties (if necessary).
  • To perform other tasks given by the Board of Commissioners.

 

Implementation of Audit Committee
In accordance with the Company’s Audit Committee Charter, the Audit Committee implemented its duties in 2018, as follows:

  • The Audit Committee conducted a review on the Consolidated Financial Statements for the Fiscal Year 2018 that was audited by the external auditor, Public Accounting Firm Kanaka Puradiredja, Suhartono (KPS) and Partners. The assessment on the Consolidated Financial Statements included the implementation effects of SFAS and ISAK which became effective in 2018. 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 2017.

    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 professionalism. 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.

  • 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.
  • The Audit Committee reviewed internal audit activities in 2018 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 2018, were grouped based on the assignments for each business lines, with the most assignments, 82%, belonged to MVN business line. FTA TV business line took 6% while 12% went to other business lines (Print/Radio/Media Agency, Inhouse Production, Channel, Online Media, Infrastructure and Holding) which included IT Audit activities.

  • The Audit Committee reviewed the effectiveness of risk assessment, Whistleblowing System (WBS) and Compliance & Control Self Assessment (CCSA).

  • The Audit Committee examined complaints related to the Company’s accounting and financial reporting processes.

  • The Audit Committee kept the confidentiality of the Company’s documents, data and information.


Audit Committee Meetings

In accordance with applicable regulations and the 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.

In 2018, the Audit Committee held four (4) meetings, specifically in March (two (2) meetings), July and October.

The attendance record of the meetings is as follows:

NAME POSITION MEETING ATTENDANCE %

Beti Puspitasari Santoso

Chairman of The 
Audit Committee
4 4 100%
John Aristianto Prasetio Member of The 
Audit Committee
4 4 100%
Sutanto Member of The 
Audit Committee
4 1 25%
"