BOARD AUDIT COMMITTEE
Chairperson : Felia Salim
Members : 1. Valina Singka Subekti
2. Farouk Muhammad
Secretary : Iwan Misthohizzaman
The primary purpose of the Audit Committee is to assist the Executive Board of Kemitraan discharge its responsibility in the following areas:
The Audit Committee shall comprise of at least three members selected from within the Executive Board members who possess the requisite qualifications and financial literacy. At least one member has a background in finance. Chairperson of the Executive Board can not be a member of the Audit Committee. The members of Audit Committee are selected through the Executive Board meeting.
The Chairperson of the Audit Committee shall be selected by the Executive Board. The Chairperson of the Audit Committee is responsible for planning and conducting meetings. The Chairperson of the Audit Committee shall report significant findings and recommendations of the Committee to the Board after each Committee meeting.
The Executive Assistant of Kemitraan’s Executive Office shall act as Secretary of the Committee. The Secretary, with direction from the Chairperson, shall draw up an agenda, which shall be circulated to the members of the Committee.
Meeting shall be held at least 2 times a year. The chairperson sets agenda and signs an invitation. The Secretary arranges the meeting and prepares documents for the meetings.
Only members of Audit Committee shall attend the meeting. A meeting is considered quorum if attended by 2 members. Internal auditor, external auditor or Kemitraan Directors will join the meeting only when asked by the Audit Committee meeting.
The minutes of all Committee meetings shall be signed by audit committee members and circulated to members of the Executive Board.
The Audit Committee shall have the authority to seek any information it requires from any staff of Kemitraan, internal and external auditors without the presence of Kemitraan’s management as necessary.
The Audit Committee is authorized to take independent professional advice but has no executive powers with regards to its findings and recommendations.
The responsibilities of the Audit Committee shall include, but are not limited to the following:
1. Financial Reports
Reviewing Kemitraan’s financial statements and other financial information distributed externally including:
2. Risk Management and Internal Control
Reviewing the organization’s Risk Management Framework to satisfy itself that it continues to be sound;
3. External Auditors
4. Internal Audit
5. Internal Governance Compliance
6. Reporting to the Board
Ensuring that all matters relevant to the Audit Committee’s roles and responsibilities are reported to the Executive Board.
7. Review of Committee Performance
The Committee will annually review its performance and make recommendations to the Board for improving the effectiveness of the Committee.