Audit Committee


The Audit Committee is responsible to the Board of Commissioners in performing supervisory duties by providing independent opinion to matters require the attention of the Board of Commissioners in accordance with GCG principles and prevailing laws and regulation.


Legal References

The Company’s Audit Commitee is establised by the decree of the Board of Commissioners No. AAID/ SK-DK/4-2018/001 and No. AAID/SK-DK/4-2018/002 dated 30 April 2018 in accordance with:

  • The Financial Services Authority (OJK) Regulation No. 55/POJK.04/2015 dated 23 December 2015 on Establishment and Implementation Guidelines of Audit Committee.
  • Indonesia Stock Exchange Regulation No.I-A.
  • The Company’s Articles of Association.

Audit Commitee Charter

TThe Company has in place the Audit Committee Charter ratified by the Board of Commissioners on October 1, 2018, which contains the work guidance of the Audit Committee including the duties and responsibilities and the convention of the Committee Meetings.

Audit Commitee Profile

The Audit Committee consists of one Chairman and two Members. The following is the profile details of Audit Committee:

Agus Toni Soetirto
61 years
Indonesian Citizen
Chairman of Audit Committee/ Independent Commissioner
Terms of Office 5 (five) years
Appointment Basis Board of Commissioners Decree No. AAID/SK-DK/4-2018/001 dated 30 April 2018
Educational Background As disclosed in Profile of the Board of Commissioners on page 52 of Annual Report
Professional Experience As disclosed in Profile of the Board of Commissioners on page 52 of Annual Report

Avian Widyasmono
50 years
Indonesian Citizen
Member of Audit Committee/ Independent Party
Terms of Office 2 (two) years
Appointment Basis Board of Commissioners Decree No. AAID/SK-DK/4-2018/001 dated 30 April 2018
Educational Background Master of Management (M.M.) in Strategic Management at Prasetya Mulya Indonesia Jakarta 2004-2006
Bachelor Degree in Accounting (S.Ak.) in Accounting at STIE Perbanas – Jakarta 1987-1992
Professional Experience September 2018 – Current: Chief of Financial Officer, PT. Garda Paksi Nusantara.
December 2016 – February 2017: Chief of Financial Officer, PT. Whitesky Aviation.
November 2015 – October 2016: Commissioner, PT. Jabar Rekind Geothermal.
December 2012 – October 2015, PT. Wijaya Karya Jabar Power.
May 2010 – October 2015: President Director, PT Jabar Rekind Geothermal.
June 2011 – December 2012: Director, PT Wijaya Karya Jabar Power.
Aug 2009 – May 2010: Special Staff Finance Director, PT. Geo Dipa Energy.
Feb 2008 – Aug 2009: Director, PT. Rinjani Maritim Transportasi.
Jul 2006 – Mar 2008: Vice President Finance, Infinite Capital.
May 1997 – Jun 2006: Bakrie Group Company.

Ami Laksmikanti
46 Years
Indonesian Citizen
Member of Audit Committee/Independent Party
Terms of Office 2 (two) years
Appointment Basis Board of Commissioners Decree No. AAID/SK-DK/06-2019/003 dated 24 June 2019
Educational Background Bachelor in Economics from from the Universitas Khatolik Parahyangan Bandung, 1991-1996.
Short Course in Credit Analyst from the Indonesia Banker Institute Jakarta, 1997.
Short Course in Account Officer from the Indonesia Banker Institute Jakarta, 1998.
Short Course in Cash Flow Management from Universitas Prasetya Mulia Jakarta 2001.
Professional Experience May 2018 – Now: GA and HR Manager, PT Tigadaya Group.
Sept 2004 – May 2017: Finance and Office Manager, PT Tigadaya Semesta.
2000 – 2004: Investor Relation Officer, Indonesian Bank Restructuring Agency (IBRA).
1999-2000: Administrative Assistant, Indonesian Bank Restructuring Agency (IBRA).
1997-1999: Corporate Finance Service Assistant, Long Term Credit Bank of Japan.

Independency of Audit Committee

Pursuant to the Audit Committee Charter and referring to POJK No. 55/POJK.04/2015 dated December 23, 2015 the Audit Committee shall act independently in carrying out its duties and responsibilities. All members of the Company’s Audit Committee have fulfilled the independence requirement as set out under the Personal Statement documented by the Corporate Secretary.

DUTIES AND RESPONSIBILITIES

  • Review the financial information to be issued to the public and/or the authorities, including financial statements, projection, and other reports relating to financial information of the Company;
  • Review the compliance with laws and regulations related to the activities of the Company;
  • Provide an independent opinion on any dissenting opinions between the management and the Accountant for the provided services;
  • Provide recommendations to the Board of Commissioners on the appointment of Accountant based on the independency, scope of assignment, and fees;
  • Review the implementation of audit by internal auditor and oversee the implementation of follow-up actions by the Board of Directors on the findings of internal auditor;
  • Review the risk management activities conducted by the Board of Directors, if the Company or Public Company does not have a risk monitoring function under the Board of Commissioners;
  • Review complaints relating to accounting and financial reporting processes of the Company or Public Company;
  • Review and advise the Board of Commissioners on potential conflict of interest of the Company;
  • Maintain the confidentiality of documents, data and information of the Company.

IMPLEMENTATION OF AUDIT COMMITTEE ACTITIVIES IN 2019

The realization of the Audit Committee work program in 2019 is as follows:

  1. The Audit Committee has reviewed the Company’s financial statements in 2019, both quarterly reports and annual report. The Audit Committee has also discussed several issues that require the attention of the Board of Directors and management as well as proposed the improvement performance.
  2. The Audit Committee noted that the Company has carried out its activities in accordance with the prevailing laws and regulations.
  3. In performing the Company’s activities as a public company, the Audit Committee ensured that the Company maintain the accountability, transparency and professionalism as an important element in good corporate governance practices in risk management.
  4. Work programs in 2019 are as follows:
    • Approved Purwantono, Sungkoro & Surja Public Accounting Firm and reviewed that the Public Accounting Firm is in accordance with article 28 of the Financial Services Authority Regulation No. 13/POJK.03/2017 concerning the Public Accountant Services in financial service activities.
    • Invited members of the Board of Directors to provide the Company’s overall situation during 2019 and the Committee further provided required recommendations suitable to the conditions of 2019.

Audit Committee Meeting

The Audit Committee Meeting Policy refers to the Company’s Audit Committee Charter, as follows:

  • The Audit Committee convenes meeting at least 1 (one) time in 3 (three) months;
  • The Audit Committee meeting can only be held if more than half (1/2) of the members are attended;
  • The decisions of the Audit Committee Meeting is taken based on deliberation to reach consensus;
  • Every Audit Committee Meeting is stated in the Minutes of Meeting including if there are dissenting opinions signed by all members of the Audit Committee present and submitted to the Board of Commissioners.

In 2019 the Audit Committee has convened 11 (eleven) meetings with the following details:

Meeting Agenda

NO MEETING MATERIAL DATE
1 Audit Plan 2019 and Internal Audit Budget.
Internal Audit Achievement Report during 2018.
Meeting plan with Commercial Department in February 2019.
28-01-2019
2 Presentation of sales target and marketing strategy from Commercial
Department conducted by Regional Head of Commercial.
Presentation on new routes determination of PT Indonesia AirAsia in 2019.
14-02-2019
3 Discussion on tax exposure according to tax audit results
Discussion on audit findings and adjustments recorded by EY in AAID and Subsidiary Financial Statements year 2018.
05-03-2019
4 Discussion on AAID and Subsidiary Financial Statements results year 2018
Discussion on EY findings during audit 2018.
Discussion on EY recommendations for the Company’s Management.
15-04-2019
5 Discussion on Internal Audit Report until Q2 2019. 21-05-2019
6 Discussion on EY appointment as independent Auditor to audit AAID and Subsidiary Financial Statements.
Discussion on Financial Statements audit preparation and schedule from planning to publication of AAID and Subsidiary audited Financial Statements.
21-06-2019
7 Discussion on audit progress of Financial Statements conducted by EY
Discussion on audit findings and adjustments on Financial Statements presented by EY, particularly findings on Taxes.
30-07-2019
8 Discussion on audit progress of AAID and Subsidiary Financial Statements.
Discussion on findings progress in terms of Taxes and adjustments in the Financial Statements of AAID and Subsidiary.
14-08-2019
9 Discussion on final results of AAID and Subsidiary audited Financial Statements including improvement recommendations to the Management
Discussion on Internal Audit Achievement Report during Quarter 3 2019.
17-09-2019
10 Discussion on revenues during low season.
Discussion and follow up on financial statements particularly on sparepart inventories.
Discussion on personnel in Internal Control department.
Discussion on safety issues on human trafficking.
Discussion on flight operations particularly on fuel-savings.
10-10-2019
11 Discussion on audit preparation for 2019
Discussion on tax audit issues (possibility of occurrence)
Discussion on 2020 plan on aircraft utilization and addition of new fleet.
09-12-2019

MEETING FREQUENCY AND ATTENDANCE

NO NAME TITLE TOTAL MEETING TOTAL ATTENDANCE %
1 Agus Toni Sutirto Chairman 11 11 100
2 Avian Widyasmono Member 11 11 100
3 Ami Laksmikanti Member 11 11 100

AUDIT COMMITTEE TRAININGS AND SEMINAR

The Audit Committee has not participated in any trainings/seminars/workshop during 2019.