The Board of Directors has formed Internal Audit Unit as the Company’s work unit that implements the internal control function in accordance with the Internal Audit Charter.
The Internal Audit Unit is placed directly under the President Director and has a functional relationship with the Audit Committee. The Internal Audit Unit Head is appointed by and directly reports to the President Director. The unit is the Company’s function that acts independently, provides objective assurance services and consultancy services with the aim of enhancing the quality of the Company’s operational activities.
The Internal Audit Unit is tasked to ensure that the internal control system, the risk management system, and the GCG practices are functioning effectively and efficiently, in full compliance with prevailing rules and regulations and policies of the Company. In carrying out its duty, the Internal Audit Unit has to consistently maintain its independence and professionalism in accordance with prevailing professional standards and the Internal Audit Charter.
Internal Audit Duties, Responsibilities, and Authority
In accordance with the Internal Audit Charter; duties, responsibilities and authority of Internal Audit includes:
- Developing the annual audit work plans that include budgets and resources, as well as coordinating with the Company’s Audit Committee.
- Conducting special audit at the request of management.
- Using risk analysis to develop an audit plan.
- Assisting the Board of Directors in managing the Company by conducting inspection and assessment of the efficiency and effectiveness in the areas of finance, accounting, operations, human resources, marketing, information technology, and other activities
- Acting as advisors in designing a system.
- Ensuring all assets of the Company have been reported and protected from damage and loss.
- Assessing the quality of the Company’s work unit performance by providing suggestions for improvements and objective information on the activities at all levels of management.
- Carrying out operational and compliance audit on the management activities with regard to the Company’s policies, plans and procedures.
- Compiling the audit report and submitting it to the Company’s President Director and Board of Commissioners on significant findings as the result of the inspection.
- Monitoring, analyzing and reporting on suggested improvement follow-up actions.
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