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Audit Committee is a working unit of the Board of Commissioners to assist the Board in performing its supervisory function of the Company. The main activities in 2010 were as follows:
1.
| Reviewed the independence and objectivity of the Company’s External Auditor “KAP Tanudiredja, Wibisana & Rekan” a member of PricewaterhouseCoopers (“PwC”) Global network. | 2.
| Discussed with management the following issues:
- financial statements;
- internal control system;
- regulatory and legal compliance;
- 2011 business strategy and work plan;
- manpower aspects;
- marketing activity and sales contract agreements; and
- risk management process. | 3.
| Discussed with Internal Auditor the implementation and results of the internal control process and the scope of the internal audit plan of 2011. | 4.
| Discussed with External Auditor their client service plan as well as interim and final progress and result of the audit. | 5.
| Read Board of Directors Minutes of Meeting. | 6.
| Reports;
- Submitted quarterly report to Board of Directors and Board of Commissioners.
- Submitted Audit Committee 2011 Work Plan to the Board of Directors and
Board of Commissioners. | 7.
| Held 18 meetings during 2010. |
This report is submitted and signed by the Audit Committee of PT Astra Agro Lestari Tbk
Audit Committee Profile
| Stephen Z. Satyahadi |
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An Indonesian citizen, Stephen Z. Satyahadi has served as the Independent Commissioner of the Company and as the Chairman of the Audit Committee since May 2007. He has served as the Independent Commissioner of PT United Tractors Tbk, since 2003 and he was served as the Audit Committee Chairman. He served as the President Director of Bank Universal from 1990 until 2005. From 1986 until 1988, he served as a President Director of Bank Perkembangan Asia. From 1980 until 1985, he served as the Finance and General Manager and Corporate Treasurer at PT Astra International. In 1983, he was appointed to the position of Vice President Director of PT Astra Sedaya Finance and in 1970 as the Assistant Vice President of Citibank N.A. Jakarta. He began his career at the Bank of Tokyo in Jakarta in 1968. He holds a Degree in Accounting from the University of Indonesia.
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| Candelario A. Tambis |
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An Indonesian citizen, Candelario Tambis was appointed as a Member of the Audit Committee of the Company in May 2007. He also serves as a Member of the Audit Committee of PT Astra Graphia Tbk. It currently also serves as the President Director of PT Tambis & Co. Inc. and as the President Commissioner of PT Ferrarimas Italindo. He is an investment adviser licensed by BAPEPAM; previously a financial adviser accredited by IBRA; and an ISO 9000 and general management consultant. He also has previously served on the Board of Directors of a number of companies, including PT Schroders Indonesia, Bank Universal (now Bank Permata), PT Astra Securities and PT Morgan Grenfell Astra Ltd. He held a Degree in Accounting and has received accreditation as a Cerified Public Accountant (CPA) in the Philippines.
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| Zeth Manggopa |
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An Indonesian citizen, Zeth Manggopa was appointed as a Member of the Audit Committee of the Company in May 2007. Prior to this appointment, he served as a Member of the Audit Committee of PT United Tractors Tbk. He has previously held the position of consultant advisor in the field of accounting and finance at a number of institutions, including the Cikini Hospital in Jakarta and PT Timor Indonesia. From 1968 until 1991, served as the President Director of PT Sarana Karya Sandang Indah. He has also served as a General Director of PT Deta Marina and as the Financial Director of PT Kabelindo. He has also held managerial positions in the financial and administrative departments of a number of companies, including PT Alcan Indonesia, PT Industrial Gases Indonesia, PT Richardson – Merrell Indonesia, and as the accountant of Burroughs Wellcome & Co (Australia) Ltd. He has a Degree in the Accountancy from the University of New South Wales, Sydney, Australia. |
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