Good Corporate Governance

Audit Committee

Duties and Responsibilities of The Audit Committee - 61

Duties and responsibilities of Audit Committee as stated in Audit Committee Charter of PT AKR Corporindo Tbk are as follows:

  1. Performing review on finance information published by the company such as finance report, management report and other information
  2. Performing review on company compliance with regulations in the relevant field of capital market and other regulations related to company activities
  3. Performing review on the company’s internal control system and oversight unit to ensure system effectiveness and activity execution from internal oversight unit
  4. Performing review on public accountant work plan and its independence
  5. Performing review on audit performed by external auditors
  6. Reporting to the Board of Commissioners regarding various risks faced by the company and risk management execution by Board of Directors
  7. Maintaining confidentiality of all information in company’s possession including documents, data and other company information
  8. Provide recommendations regarding improvement of the management control system and its execution to Board of Commissioners
  9. Ensure proper review procedure for all information released by the company

Independence of Audit Committee - 62

All Audit Committee members are independent whom are appointed according to their capability and educational background, and meet the qualifications set in
OJK Regulation No.55/POJK.04/2015 on Formation and Implementation Guidelines for Audit Committee, among others do not to have any affiliations with Board of Directors, Board
of Commissioners and Company major shareholders.

Authorities of The Audit Committee - 63

  1. Accessing notes or information about fund, asset, and other company’s resources.
  2. Performing cooperation and coordination with internal oversight unit.
  3. If necessary, may perform observation on company work units.
  4. Based on Board of Commissioners approval may ask external party assistance to perform special activities on company’s expense.

Audit Committee Functions - 64

Main functions of the Audit Committee explained are as follows:

  1. Report result of risk management evaluation to Board of Commissioners to anticipate potential risk that may disrupt the ongoing business
  2. Evaluate the company performance and its subsidiaries on a regular basis (quarterly, semesterly, and annually) on target achievement, market conditions and trends, future performance prediction, and reporting finding and providing suggestion in order to ensure improvement of Board of Commissioners performance.
  3. Deliver report that is performed by Board of Commissioners in professional and independent manners.
  4. Along with theAudit Committee, provide assessment on documentation procedure and implementation by management that are suggested by operational department to improve the financial transaction performance and reporting system
  5. Discuss potential business development plan identified by the Company
  6. Ensure Company finance report is in accordance with the accounting standards set by independent Commissioner.
  7. Ensure that company internal control system, finance report procedure, and GCG implementation are functioning properly

Information Regarding The Appointment and Dismissal of The Audit Committee - 142

The Company has been informed disclosure of information regarding changes of composition of the Audit Committee based on letter number 096/L-AKR-CS/2020 dated 12 May 2020.