PT NFC INDONESIA

Audit Committee

PT NFC Indonesia TBk

The establishment of the Audit Committee and the Audit
Committee Charter that provides a guideline for conducting
its duties and functions, was based on OJK Regulation No.
55/POJK.04/2015 on the Establishment and Guidelines for
Audit Committee’s Duties, through the Audit Committee
Establishment Letter No. 017/NFC/SK-DK/I-VI/18 dated 16
April 2018 on the Appointment of Chairperson and Members
of the Audit Committee.

Committee Membership
The Audit Committee composition as of the end of 2018 was as follows:
Siska Pratiwi (Independent Commissioner) – Chairperson
Cipta Indriati – Member
Semi Winasih – Member

All current members of the Audit Committee were appointed in
2018, for a term of office of five years, until 2023. The term of
office of any member of the Audit Committee shall not exceed
their term of office as a member of the BOC.

Duties & Responsibilities
The duties, authorities, and responsibilities of the Audit
Committee as stated in the OJK Regulation No. 55/
POJK.04/2015 are as follows:

1. Reviewing the Company’s financial information to be issued
to the public and/or authorities regarding the financial
statements, projections, and other reports related to the
Company’s financial information.

2. Reviewing the Company’s compliance with the prevailing
regulations related to the Company’s activities.

3. Providing independent opinion in the case of a difference of
opinion between the Management and the Accountant for
the services rendered.

4. Providing recommendations to the BOC regarding
the appointment of Accountant to be based on the
independence, scope of work, and fee.

5. Reviewing the implementation of audit by the internal
auditor and observing the follow up measures by the BOD
on all internal auditor’s findings.

6. Reviewing the risk management activities conducted by the
BOD, if the Company does not have any risk monitoring
activity under the BOC.

7. Reviewing the complaints related to the accounting and
financial reporting processes of the Company.

8. Reviewing and providing recommendations to the BOC
related to any potential for conflict of interest.

9. Maintaining the confidentiality of documents, data, and
information of the Company.

The Audit Committee conducted the duties, executed the
authority and the responsibilities as stated in the above OJK
Regulation.

In conducting its duties, the Audit Committee retains the
following authority:

1. Access the documents, data, and information of the
Company regarding its employees, funds, assets, and
resources needed.

2. Communicate directly with the employees, including the
BOD and the party conducting the internal audit, risk
management, and accountancy function related to the
Audit Committee’s duties and responsibilities.

3. Involve independent parties outside of the Audit Committee
needed to assist its duties (if necessary).

4. Execute the other types of authority bestowed by the BOC.

Committee Independence
The Audit Committee ensures its independence in carrying
out its duties and responsibilities by having an Independent
Commissioner as the Committee’s Chairperson.

Committee Meetings
The Audit Committee is required to conduct a Audit Committee
meeting at least once every three months, or four times in a
year.
In 2018 the Audit Committee conducted 4 meetings, all of
which were attended by all members of the Audit Committee.