Audit & Risk Committee

Risk & Audit Committee


The Company established an Audit and Risk Committee in 2012 in order to assist supervisory duties on the performance and operations of the Company in accordance with BUMN State Ministerial Regulation number PER-12 / MBU / 2012 dated August 24, 2012 concerning Supporting Organ of the Board of Commissioners/Supervisory Board of State-Owned Enterprises, and Financial Services Authority Regulation No. 55/POJK.04/2015 concerning Establishment and Work Guidelines of the Audit Committee. The Audit and Risk Committee works collectively and is independent in carrying out its duties to assist the Board of Commissioners and be responsible to the Board of Commissioners. The term of office of the Audit Committee and Risk is 2 (two) years and could be re-elected only for the next 1 (one) period, without prejudice to the right of the Board of Commissioners to terminate it at any time.

Audit and Risk Committee Composition


Based on Decision number K.02.01/DEKOM. WG.009/2017 dated on August 28, 2017, the composition of the Audit and Risk Committee is as follows:

Position Name Description
Chairman Adji Firmantoro Independent Commissioner
Member Dini Yulianti Independent Commissioner
Member Subagyo Addy Purnomo Independent Party*
Member Arzul Andaliza Independent Party*
*) Coming from outside WEGE, but still within the WIKA Group

Audit and Risk Committee’s Profile


Adji Firmantoro

Chairman

The profile of Adji Firmantoro can be seen in the profile of the Board of Commissioners in the Management Report chapter.

Dini Yulianti

Member

The profile of Dini Yulianti can be seen in the profile of the Board of Commissioners in the Management Report chapter

Subagyo Addy Purnomo

Member

Indonesian citizen, 65 years old, born on September 20, 1953. He has been a member of the Audit and Risk Committee since January 22, 2014. He holds a Bachelor’s Degree in Academy of Leather Technology Yogyakarta (1976). The positions that have been held are as follows:

  • WIKA Information System Bureau (1993)
  • Members of Internal Supervisory Unit of WIKA (1996)

Arzul Andaliza

Member

An Indonesian citizen, 62 years old, born on January 1, 1956. He has been a member of the Audit and Risk Committee since November 15, 2018. He holds a Master of Business Administration (MBA) from Colorado State University, Fort Colins, Colorado, USA in 1989 and an Accountant degree from The State Accounting College (STAN) in 1985. The positions that have been held are as follows:

  • Audit Committee of PT Wijaya Karya (Persero) Tbk in 2012 to 2017
  • GCG Committee and Risk Management Monitor PT Pupuk Indonesia Holding Company (PIHC) in 2012 - 2014
  • Director of Supervision of Regional Owned Enterprises, BPKP in 2010 - 2012
  • Various Echelon II positions in the BPKP since 2001 - 2012

Independence and Work Guidelines of Audit and Risk Committee


Members of the Audit and Risk Committee are professional individuals who do not have a relationship with the Company to maintain independence in carrying out their duties and responsibilities. In an effort to maintain the independence of each member of the Committee, each member of the Committee gives a statement of independence. The statement of independence of the Audit Committee and Company Risk is prepared based on the Financial Services Authority Regulation No. 55 / POJK.04 / 2015 concerning the Establishment and Work Guidelines of the Audit Committee Article 7 regarding the Requirements and Membership of the Audit Committee’s Term of Office and the Audit Committee Charter.

Independence Statement Adji Firmantoro Dini Yulianti Subagyo Addy Purnomo Arzul Andaliza
Not a person in the Public Accountant Office, Legal Consultant Office, Public Appraisal Service Office or other party that provides insurance services, non-insurance services, appraisal services and / or other consulting services to the Company within the last 6 (six) months.
Not a person who works or has the authority and responsibility to plan, lead, control, or supervise the activities of the Company within the last 6 (six) months, except for an Independent Commissioner.
Do not have direct or indirect shares in the Company.
Do not affiliated with members of the Board of Commissioners, members of the Board of Directors, or the Company’s Major Shareholders.
Do not have a business relationship either directly or indirectly related to the Company’s business activities.

Work Guideline of Risk and Audit Committee


The Company has an Audit and Risk Committee Charter as set out in the Audit and Risk Committee Charter SK.02.01 / DEKOM.WG.005 / 2017 dated July 13, 2017 which is arranged in synergy with OJK Regulation No. 55/2015. In carrying out its performance, the Audit and Risk Committee also refers to the 2018 Board Manual which has been ratified through Joint Decree No. SK.01.09 / WG.456 / 2018 concerning Changes in the Manual Board of PT Wijaya Karya Bangunan Gedung Tbk.

Duties and Responsibilities


In carrying out its functions, the Audit and Risk Committee has the following duties and responsibilities:

  1. Reviewing the financial information that would be released by the Company to the public and/or the authorities including financial statements, projections and other reports related to the Company’s financial information;
  2. Reviewing compliance with laws and regulations relating to the Company’s activities;
  3. Providing independent opinion in the event of disagreements between management and the Accountant for the services they provide;
  4. Providing recommendations to the Board of Commissioners regarding the appointment of an Accountant based on independence, scope of assignment, and service fees;
  5. Reviewing the implementation of audits by internal auditors and supervising the implementation of follow-up actions by the Directors on the findings of internal auditors;
  6. Reviewing the risk management implementation activities carried out by the Board of Directors;
  7. Reviewing complaints relating to the accounting process and financial reporting of the Company;
  8. Reviewing and provide advice to the Board of Commissioners regarding potential conflicts of interest that occur in the Company;
  9. Maintaining the confidentiality of Company documents, data and information.

Report on the Implementation of Audit and Risk Committee Activities in 2018


The Audit and Risk Committee carries out activities in carrying out its duties and responsibilities as set out in the table below.

No Matters in Audit Charter Activities Realization
1. Visit to project 17 projects
2. Risk management 2 times
3. IT Discussion 2 times
4. Receivables Discussion 6 times
5. Make a report on the results of periodic reviews and evaluations to the Board of Commissioners 12 times
6. Discussion with Internal Controlling System 9 times

Frequency of Meetings and Level of Attendance of the Audit and Risk Committee


The Audit and Risk Committee holds internal meetings and/or together with the Board of Commissioners and Directors with the Audit and Risk Committee Work Program 12 (twelve) times. The frequency and attendance rate of each member meeting are as follows:

No Name Position Total Meeting Total Attendance %
1. Adji Firmantoro Chairman 12 12 100%
2. Dini Yulianti Member 12 11 92%
3. Subagyo Addy Purnomo Member 12 12 100%
4. Arzul Andaliza Member 12 2 17%

Training and/or Education Program Implemented by the Audit and Risk Committee


Information about the education and / or training that has been conducted by members of the Audit and Risk Committee throughout 2018 has been presented in the chapter “Company Profile”.

Plan for the Audit Committee and Risk Work Program in 2019


No Activities Plan
1. Visit to Projects
a. Projects audited by Internal Supervisory Unit 4 objects
b. Project audited by Public Accountant Firm 4 objects
2. Analysis of WIKA’s Monthly Performance Reports 12x
3. Review of WIKA’s Quarterly Financial Reports 3x
4. Compile the Audit Self-Assessment Committee 1x
5. Compilation of the Audit Committee Work Plan for 2020 1x
6. Discussion of WIKA’s Work and Plan Budget 2020 Building 1x
7. Study of the Board of Directors ‘Board of Commissioners’ Proposed Corporate Action By request
8. WIKA Building internal meetings
a. Monthly Meeting with Internal Supervisory Unit 12x
b. Monthly Meeting with BOD and BOC 12x
c. Meeting with Division of Finance related to Receivables 12x
d. Meeting with Risk Management Bureau 6x
e. Meeting with IT Bureau 4x
f. The meeting with SPI and the Accounting Department discussed the preparation of the audit of the 2019 WIKA Building Financial Report 1x
g. KAP Performance Assessment Meeting in 2018 and submit recommendations for the appointment of KAP to audit WIKA Building Financial Statements in 2019 2x
h. Audit preparation meeting for the 2019 WIKA Financial Report Building 1x
9. Meeting with external parties
a. Meeting Preparation for kick off meeting with KAP and SPI 1x
b. Meeting of audit progress discussion conducted by KAP 3x
c. Monitoring the implementation of KAP audits on projects 4 objects
d. Closing meeting with KAP, SPI, and Department of Accounting & Financial Audit LK 2018 1x
10. Reporting
a. Compilation of Audit Committee Monthly Reports 12x
b. Preparation of the Annual Report 1x
c. Compilation of the Audit Committee Annual Report 1x
11. Trainings 8x