The main task of the Audit Committee is to support the implementation of Good Corporate Governance via adequate internal control, increased quality of transparency and financial statements and sufficient monitoring of the scope, acuity, independence and objectivity of the public accountant.

The tasks and responsibilities of the Audit Committee are as follows:

1. Examine the financial information to be issued by SMK to the public and/or authorities, including financial statements, projections and other reports relevant to the Company’s financials.
2. Examine adherence to laws and regulations relevant to the Company’s activities.
3. Provide independent remarks in a case of dissenting opinions between the Company and external auditor.
4. Provide recommendations to the Board of Commissioners in relation to the appointment of the Public Accountant. In providing these recommendations, the Audit Committee is to consider the independence, scope of assignment and recompense as well as evaluating the audit of the preceding financial statements. The evaluation results and recommendations made by the Audit Committee are to be submitted annually to the Financial Services Authority (OJK), in accordance to the existing regulations.
5. Examine the audit and supervise the follow-up to the findings made by Internal Audit Unit.
6. Support the monitoring of the Board of Commissioners with regard to risk management.
7. Carry out examination and reporting to the Board of Commissioners on complaints filed against the accounting process and the reporting of the Company’s financial statements.
8. Review and provide advice on potential conflicts of interest to the Board of Commissioners.
9. Maintain the confidentiality of all company documents, data and information.

The Audit Committee reserves the rights to unlimited access to the company’s notes, employees, funds, assets and other Company resources related to its duties.

All members of the Audit Committee must fulfil the following criteria: independent, professional and with integrity. All actions carried out by the committee must be in accordance with the existing laws and regulations.