Internal Audit

Head of Internal Audit is served by the Head of Internal Audit Division that was appointed and dismissed by the President Director, with the approval of the Board of Commissioners. The appointment, replacement or dismissal of the Head of Internal Audit must be notified to The Financial Services Authoriy (OJK).
 

Qualifications of Internal Auditors

According to the Internal Audit Charter, auditors should possess the following minimum qualifiications:

  1. Knowledge, skills, and competencies to carry out technical audits and other relevant disciplines in their respective fields;
  2. Integrity, professional behavior, independence, honesty and objectivity;
  3. An internal auditor shall adhere to the profession standards issued by the Internal Audit Association;
  4. An internal auditor should maintain the confidentiality of the Company’s information and/or data with regards to the implementation of internal audits unless required by the law or a court decision; and
  5. Have the understanding of risk management principles, the Company’s good corporate governance practices and internal control.

 

Duties and Functions

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

  1. Preparing and submitting the Annual Work Assignment Plan to the President Director and the Audit Committee;
  2. Developing and maintaining the Company’s Internal Audit Guidelines to ensure all processes and advisory are performed in accordance with the agreed quality standards;
  3. Providing feedback to the Board of Directors on matters related to the process of internal control systems, risk management, the application of good corporate governance principles, and compliance with internal regulations as well as applicable laws;
  4. Carrying out assignments based on the work plan of Internal Audit, related internal audit guidelines, as well as internal audit professional standards and general internal auditors’ codes of conduct (based on the arrangement of Indonesia’s internal audit profession consortium and The Institute of Internal Auditors); and
  5. Providing recommendations for the improvement of assignments, and/or recommendations related to the impact of the weaknesses/deficiencies found in the assignments.

 

Profile of Head of Internal Audit

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

Obtained his Accountant degree after completing his Diploma III (1987-1990) and Diploma IV (1993-1996) education at State College of Accountancy, in Jakarta. The Master of Management obtained from the Bogor Agricultural School Business School in 2006.

Since 1990, Setyo became a government functional supervisory personel at the Board of Financial Supervision and Development until 1998. After 6 full years of working as an internal auditor at the Indonesian Bank Restructuring Agency, since 2004 Setyo has continued his work in several positions at PT Perusahaan Pengelola Aset (Persero) and its affiliated companies until the first half of 2017. Currently Setyo is the Head of the Internal Audit Division (CAE/Chief Audit Executive) at PT Sarana Multi Infrastruktur (Persero).

As an activist in the development of the internal audit profession in Indonesia, in the last decade, Setyo has been active in volunteering with IIA Indonesia and several other internal audit profession organizations. In his spare time, he also took the time to become a trainer and write various articles related to internal audit.
 

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.