The Internal Audit Unit of the Company is established based on Regulation No. IX.I.7, to the decree of the Chairman of BAPEBAM (Capital Market Supervisory Agency and Financial Institution) No. Kep-496/BL/2008 dated November 28, 2008 on the Establishment and development of Internal Audit Charter. The Internal Audit Unit is authorized to provide independent and objective viewpoints, assurance as well as independent and objective consultation to enhance the value and improve the Company’s operations and activities, through a systematic approach; by evaluating and improving the effectiveness of internal control systems, risk management and GCG processes of the Company and its business units.

The role of Head of Internal Audit was held in 2014 by Dusanto Ardanesworo, who was born in 1967. He previously served as Head of Internal Audit at subsidiary companies (MNC) in 2012 and began serving as the Head of Internal Audit Unit in 2013. He graduated from the Faculty of Economics at Trisakti University in 1992, majoring in Accounting. Previously he had worked in the public accounting firm of Deloitte Touche Tohmatsu Indonesia (1992-1995), and later switched to pursue the profession of internal auditing by serving as the head of internal audit in several companies including PT Metropolitan Development (1995-1996), PT Keramika Indonesia Asosiasi Tbk (1996-2000).

Samko Timber Limited (2007-2010) and PT Bosowa Corporindo (2010-2012). He has also worked as a Financial Controller at Starwood Hotels and Resorts Limited (2000-2002) and Boral Limited (2002-2004), and as Budget Controller at PT Citra Media Nusa Purnama (2004-2007). His appointment as Head of Internal Audit Unit has been reported to the Financial Services Authority (OJK) based on letter No. 085-OJK/MCOM-CL/VII/ 13 dated July 31, 2013.

The structure of the Internal Audit Unit is as follows:

  • Internal Audit Unit Headed by the Head of Internal Audit / Chief Audit Executive (CAE).
  • The CAE is appointed and dismissed by the President Director with the approval of the Board of Commissioners.
  • The CAE is responsible to the President Director and administratively responsible to the Director of the Group Policies and Human Resources.

Based on the Company’s Internal Audit Charter approved by the Board of Commissioners and Board of Directors, the duties and responsibilities of the Internal Audit Unit are as follows:

  • To develop and implement annual internal audit plans.
  • To test and evaluate the implementation of internal control systems and risk management in accordance with corporate policies.
  • To perform inspection and assessment of the effi ciency and effectiveness of fi nance, accounting, operations, human resources, marketing, information technology, and other activities.
  • To examine compliance with relevant laws and regulations.
  • To provide suggestions for improvements and objective information on the audited activities at all management levels.
  • To prepare and submit audit reports to the Director and the Board of Commissioners.
  • To monitor, analyze and report on the improvements suggested.
  • To work closely with the Audit Committee and support it in performing its tasks.
  • To develop programs for evaluating the quality of Internal Audit.
  • To conduct special investigations where necessary.

In accordance with the 2014 audit plan, the Internal Audit Unit conducted an audit assignment that covered all business units. The completed total of 233 audits was comprised of operational activities (94%), fi nancial (3%) and projects (3%).

To enhance the coordination between the Company as a holding company and the business units, the Internal Audit Unit conducted weekly meetings to discuss the audit process across all business units, monthly meetings with the Board of Directors, and quarterly meetings with the Audit Committee.

Examination reports, as well as improvement recommendations, were submitted to the Board of Commissioners, the Audit Committee and the Board of Directors in quarterly meetings. Supervision of compliance and improvement by business unit on the recommendations pertaining to the fi ndings of the Internal Audit Unit was conducted periodically, to ensure improvements over previous fi ndings were achieved.