EN ID

Internal Audit

The Head of Internal Audit is appointed and dismissed by the President Director with the Board of Commissioners' approval. The appointment, replacement, or termination of the Head of Internal Audit must be notified to The Financial Services Authority (OJK).

Internal Auditors Qualifications

According to the Internal Audit Charter, auditors should possess minimum qualifications as follows:

  1. Knowledge, skills, and competencies to carry out technical audits and other relevant disciplines in their respective fields;

  2. Integrity, professional behaviour, independence, honesty and objectivity;

  3. Internal auditors must adhere to professional standards issued by the Internal Audit Association;

  4. Obligated to maintain Company information and data disclosures regarding audits unless required by law or a court decision; and

  5. Good understanding on risk management principles, the Company's GCG practices, and internal control.

 

Duties and Functions

In accordance with the Internal Audit Charter, the Internal Audit Division duties and responsibilities include:

  1. Prepare an annual work assignment plan with the president director and the audit committee to follow processes and enforce quality standards;

  2. Creating guidelines for internal audits to ensure all processes are done correctly;

  3. Provide feedback to the Board of Directors on internal control systems, risk management, adherence to good corporate governance principles, and adherence to regulatory standards;

  4. Carry out assignments based on the work plan of internal audit, related internal audit guidelines, and professional standards and codes of conduct (based on the arrangement of Indonesia’s internal audit profession consortium and The Institute of Internal Auditors); and

  5. Give constructive feedback and recommendations to improve assignments and/or provide suggestions related to the impact of issues found in the assignments.

 

Head of Internal Audit Profile

Setyo Wibowo, CIA, CRMA, CISA, CA, Ak., MM

Upon completing his Diploma III (1987-1990) and IV (1993-1996) education in Accountancy at State College of Accountancy in Jakarta, Setyo pursued his Master of Management at Bogor Agricultural School Business School in 2006.

Setyo has been in the public service for 27 years, spending much of that time working as a government worker for 14 years, and had a long and successful career as an internal auditor. Since 2004, he has had several work experiences with PT Perusahaan Pengelola Aset (Persero) and its affiliated companies. Setyo is currently the Head of the Internal Audit Division (CAE/Chief Audit Executive) at PT Sarana Multi Infrastruktur (Persero).

Setyo is passionate about educating and training the next generation of internal auditors, and has been actively developing internal audits in Indonesia and volunteering with IIA Indonesia and other similar organisations in the last decade. In his spare time, he shares his knowledge by speaking at conferences and writing articles.

 

Legal Basis of Appointment

Setyo Wibowo was appointed as Head of Internal Audit based on the Approval Letter of the Board of Commissioners No. S-22/SMI/DK/0617 dated 8 June 2017 and the Decree of the Board of Directors No. SK-270/SMI//DKD/DHC/1017 dated 19 October 2017.