Internal Audit

The establishment of the Internal Audit Unit tangibly reflects the Company’s commitment to comply with regulations issued by the Indonesia Financial Services Authority (formerly Bapapem-LK), and consistent with Company’s efforts to ensure robust internal governance and improve Company’s operational activities.

The presence of an Internal Audit Unit within MNC Investama is expected to ensure the independent supervision of the Company, primarily in providing objective assurance in a view to generate added value and boost Company’s operations.

Furthermore, the purpose for having an Internal Audit Unit in place is to support the attainment of Company’s goals through a systematic approach in evaluating and increasing the effectiveness of risk management, controls and good corporate governance. The Internal Audit Unit is also expected to function as a professional advisor to the Board of Directors and a catalyst for all working units and the Company as a whole.

Duties and Functions

In accordance with the Internal Audit Charter, the scope of work and responsibilities of the Internal Audit Unit is as follows:
  1. Prepares and implements the Annual Internal Audit Plan.
  2. Reviews and evaluates the implementation of internal controls and the risk management system in compliance with Company policies.
  3. Examines and evaluates efficiency and effectiveness in terms of finance, accounting, operations, human resource, marketing, information technology and other activities.
  4. Offers recommendations for improvements and objective information on activities being audited at all management levels.
  5. Prepares an audit report for submission to the President Director and Board of Commissioners.
  6. Monitors analyze and reports on the implementation of recommended follow-up measures for improvements.
  7. Collaborates with the Audit Committee.
  8. Develops a program for evaluating the quality of internal audit activities undertaken.
  9. Conducts special audits if necessary.

Internal Audit Unit Head Profile

Retno Pangesti has served as Head of the Internal Audit Unit since September 1, 2021, based on Directors Decree No.295/DIR/MNCI/IX/21. Prior to joining the Company, she worked at Crowe Indonesia or KAP Kosasih, Nurdiyaman, Mulyadi, Tjahjo & Rekan (2016-2018) as a Senior External Auditor and at KAP Rama Wendra (2015-2016) as a Junior External Auditor.

Legal References

The Internal Audit Unit is led by the Head of the Internal Audit Unit appointed and dismissed by the President Director with the approval of the Board of Commissioners. The appointment, replacement, or dismissal of the Head of the Internal Audit Unit will be reported immediately to the authority authorized to regulate and supervise the Company’s business activities.

The Company has appointed Retno Pangesti as Head of the Internal Audit Unit, which was appointed by the President Director based on Decree No.295/DIR/MNCI/IX/21 dated September 1, 2021.

Internal Audit Charter

Internal Audit Charter is a formal document as a form of a commitment from the Board of Commissioners and Board of Directors in an effort to create the conditions for good supervision within the company including the creation of effective corporate governance, internal control, risk assessment and administration of the company as a whole.
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