Management

The Audit Committee was formed to carry out independent oversight of the financial reporting and external audit processes. Other objectives are to provide independent oversight of the risk management and control process and to carry out independent oversight of the Company's governance processes. The Audit Committee members have met the independence criteria and have the expertise and integrity as defined in Financial Services Authority (Otoritas Jasa Keuangan) Regulation No. 55/POJK.04/2015. Audit Committee Charter The Audit Committee has the Charter including: composition, structure and membership requirements, duties and responsibilities, working and reporting conditions, the term of office, as well as complaints management procedure. Audit Committee's Independency The Audit Committee consists of an Independent Commissioner who serves as chairman as well as members from outside the Company who are able to work professionally and independently. In order to ensure the Audit Committee's independency, all members do not work at public accounting firms, law firms, public appraisers, or other entities providing assurance services, or other consulting services to the Company, and did not work at the Company 6 (six) months prior to their appointment as members of the Audit Committee. In addition, members of the Audit Committee do not directly or indirectly have shares in the Company, and are not affiliated with members of the Board of Commissioners, Board of Directors or majority shareholder of the Company. Duties and Responsibilities Audit Committee duties and responsibilities is to facilitate Board of Commissioners in running its supervisory function. The main tasks of Audit Committee: 1. To conduct periodic evaluations to the policies and management of company business from risk potential that may arise. 2. To provide an independent opinion upon the Directors reports to the Board of Commissioners. 3. To ensure the implementation of internal control system within management. 4. Provide recommendation related to integrity and quality of published financial statement. 5. Audit implementation effectiveness by external and internal auditor.