ASEAN GCG E.16-E.21

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E.16 Committee appraisal Guiding Reference Point Evidence and Disclosure

E.16.1

Is an annual performance assessment

conducted of the board of

directors/commissioners committees?

UK CG Code (June 2010 1 Ya mengacu pada Annual Report PT !ART Tb" Tahun

#$1% halaman &' dan %$.

E.1( Remuneration Committee! CompensationCommittee

Guiding Reference Point Evidence and Disclosure

E.1(.1

1

PT !ART memili"i "omite remunerasi )ang dibentu"

tahun #$1*+ mengacu pada stru"tur organisasi dan

,ebsite resmi PT !ART Tb".-oes the compan) hae a Remuneration

ommittee 0R?

"ECD Principle #$ (D

0% Aligning "e) e2ecutie and board

remuneration ,ith the longer term

interests of the compan) and its

shareholders.

E.1(.#

-oes the Remuneration ommittee comprise

a ma3orit) of independent

directors/commissioners?

1

PT !ART memili"i "omite remunerasi )ang dibentu"

tahun #$1*+ mengacu pada stru"tur organisasi dan

,ebsite Perusahaan.

It is considered good practice in anincreasing number of countries that

remuneration polic) and emplo)ment

contracts for board members and "e)

e2ecuties be handled b) a special

committee of the board comprising

either ,hol l) or a ma3orit) of

independent directors. There are also

calls for a Remuneration ommittee that

e2cludes e2ecuties that sere on each

others4 Rs+ ,hich could lead to con5icts

of interest.

E.1(.& -oes the Remuneration ommittee hae an 1 PT !ART Tb" memili"i "omite remunerasi )ang terdiri

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independent chairman?

dari 3abatan "etua dipimpin oleh dari "omisaris

independen+ dan anggota )ang berasal dari "omisaris

utama dan "omisaris )ang di3elas"an pada ,ebsite

resmi PT !ART Tb" .

E.1(.%

-oes the compan) disclose the terms of

reference goernance structure/ charter of the

Remuneration ommittee?

1

PT !ART T7 telah mengung"ap"an istilah referesnsi

dari stru"tur tata "elola/ charter dari "omite

remunerasi )ang tertera pada ,ebsite PT !ART Tb".

"ECD Principle #$ (E

0# 8hen committees of the board are

established+ their mandate+ composition

and ,or"ing procedures should be ,ell

de9ned and disclosed b) the board.

E.1(.* -oes the annual report disclose the number of

Remuneration ommittee meetings held?

8hile the use of committees ma)

improe the ,or" of the board the) ma)

also raise :uestions about the collectie

responsibilit) of the board and of

indiidual board members. In order to

ealuate the merits of board committees

it is therefore important that the mar"et

receies a full and clear picture of their

purpose+ duties and composition. uch

information is particularl) important in

an increasing number of 3urisdictions

,here boards are establishing

independent audit committees ,ith

po,ers to oersee the relationship ,ith

the e2ternal auditor and+ in man) cases+

to act independentl). ;ther such

committees include those dealing ,ith

nomination and compensation. The

accountabilit) of the rest of the board

and the board as a ,hole should beclear. -isclosure should not e2tend to

$ PT !ART Tb" baru membentu" 7omite Remunerasi di

tahun #$1* sehingga belum mengung"ap"an 3umlah

pertemuan 7omite Remunerasi.

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committees set up to deal ,ith+ for

e2ample+ con9dential commercial

transactions.

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E.1> Remuneration matters Guiding Reference Point Reason

E.1>.1

-oes the compan) disclose its remuneration

polic) 0i.e. the use of shorttermand long

termincentiesand performancemeasures for

its e2ecutie directors?

"ECDPrinciple #$ (D

0%Aligning"e) e2ecutieand board

remuneration,ith the longer terminterests

of the compan)and its shareholders.

Inan increasingnumber of countries it is

regardedasgood practice for boards to

deelopand disclosea remuneration polic)

statement coeringboardmembersand "e)

e2ecuties.uch polic) statements specif)

the relationship bet,een

remunerationandperformance+and

includemeasurablestandards that

emphasi@e the longer terminterests of the

1

PT !ART Tb" baru membentu" 7omite Remunerasi

di tahun #$1* sehingga belum mengung"ap"an

3umlah pertemuan 7omite Remunerasi.

E.1>.#Is there disclosure of the fee

structure for none2ecutie


UKCGCode (June 2010

-.1.& eels of remuneration for none2ecutie directors should re5ect the

time commitmentand responsibilities of

the role.

-isclosure of fee structure for non

1



3umlah pertemuan 7omite Remunerasi.

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E.1>.&

Is the total remuneration

0fees+allo,ances+bene9tsin"indand other

emoluments oran) increases in remuneration

for the none2ecutie

directors/commissionersapproed b)

shareholders?

"ECDPrinciple $$ (C

0&E=ectie shareholder participation in

"e) corporategoernance decisions+suchas

the nominationand election of board

members+should be facilitated.

hareholders should beable toma"e their

ie,s "no,n on the remuneration polic)

for boardmembersand "e) e2ecuties. The e:uit) component of compensation

schemes for boardmembersand

emplo)ees shouldbesub3ect

toshareholderapproal.

UKCGCode (June 2010

1



3umlah pertemuan 7omite Remunerasi..

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-oindependent none2ecutiedirectors/commissionersreceieoptions+performance sharesorbonuses?

-o independent none2ecutiedirectors/commissioners receieoptions+performance shares or bonuses?

UKCGCode (June 2010

0-.1.&eels of remuneration for non

e2ecutie directors should re5ect the

time commitmentand responsibilities of

the role. Remuneration for non

e2ecutie directors should not include

share options or other performance

related elements.If+ b)

e2ception+optionsaregranted+shareholder

approal should be sought

inadanceandan) sharesac:uired b)

e2ercise of the options should be held

untilat least one )earafter the non

e2ecutie director leaes the

board.Boldingof share options could be

releant to the determination ofa non

e2ecutie director4s independence 0as

set out in proision .1.1.

%&' Code

o2 >.#C

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E.1'.1 -oes the compan) haean Audit/ommittee?

"ECDPrinciple #$ (E

01 oards should considerassigninga suDcient

number of none2ecutie boardmembers capable of

e2ercising independent3udgment to tas"s,here there

isa potential for con5ict of interest.E2amples of such

"e) responsibilitiesare ensuringthe integrit) of

9nancialand non9nancial reporting+the reie, of

relatedpart) transactions+nomination of board

membersand"e) e2ecuties+and board remuneration. 1

PT !ART Tb" memili"i "omite audit+ hal ini

di3elas"an didalam annual report PT !ART Tb"

Tahun #$1% hal 1*.

E.1'.#

-oes theAuditommittee comprise

entirel) of none2ecutie

directors/commissioners,itha ma3orit)

of independent


"ECDPrinciple #$ (E

0#8hen committees of the boardare

established+theirmandate+compositionand,or"ing

procedures should be,ell de9neand disclosedb)

theboard.

8hile the use of committeesma) improe the,or" of

the board the)ma)also raise :uestionsabout the

collectie responsibilit) of the boardand of indiidual

boardmembers.In order to ealuate themerits of board

1

Pada PT !ART Tb"+ "omite audit secara

"eseluruhan terdiri dari "omisaris independen hal

ini tertera di dalam annual report PT !ART Tb" Tahun #$1% hal %( .

E.1'.& -oes theAuditommitteehaean independent

chairman?

1 Pada PT !ART Tb"+ "omite audit memili"i

pemimpin independen )ang di3elas"an pada annual

report PT !ART Tahun #$1% hal 1'.

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committees it is therefore important that themar"et

receiesa fulland clear picture of their

purpose+dutiesand composition.uch information

isparticularl) important in the increasingnumber

of3urisdictions,hereboardsare

establishingindependent audit committees,ith po,ers

to oersee the relationship,ith the

e2ternalauditorand+inman) cases+toact independentl).

;thersuch committees include

thosedealing,ithnominationand

E.1'.%

-oes the compan) disclose the terms of

reference/goernance structure/ charter

of theAuditommittee? 1

PT !ART Tb" telah mengung"ap"an istilah dari

referensi+ stru"tur tata "elola+ cahrter dari "omite

audit )ang tertera pada annual report PT !ART

Tb" Tahun #$1% hal %# *1.

E.1'.*-oes theAnnual Report disclose the pro9le or

:uali9cations of theAuditommitteemembers?

!ost codes specif) the need foraccounting/9nance

e2pertise or e2perience. 1

aporan tahunan PT mart Tb" telah

mengung"ap"an pro9l dan "uali9"asi anggota

"omite audit )ang tertera di dalam annual report

PT mart Tb" Tahun #$1% hal 1' dan %6%(.

E.1'.6

-oesat least one of the independent

directors/commissioners of the

Auditommittee haeaccountinge2pertise

0accounting:uali9cation or e2perience?

UKCGCode (June 2010

.&.1. The board should satisf) itself thatat least

onemember of theaudit committee has recentand

releant 9nancial e2perience.

Asman) of the "e) responsibilities of theauditcommitteeareaccountingrelated+suchas oersight

of 9nancial reporting andaudits+it is important to

hae someone

speci9call),ithaccountinge2pertise+not3ustgeneral

9nancial e2pertise.

0

Terdapat "omisaris independen dengan "uali9"asi danpengalaman ter"ini di bidang a"untansi. -i3elas"andalam pro9l "omisaris independen pada Annual ReportPT mart Tb" halaman 1'.

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E.1'.(

-oes the Annual Report disclose the

number of Audit ommittee meetings

held?

"ECD Principle #$ (E (2

1

PT !ART Tb" mengung"ap"an 3umlah pertemuan

)ang diaada"an oleh "omite audit )ang di3elas"an

di dalam annual report PT !ART Tb" Tahun #$1%

hal %*. 7omite Audit mengada"an pertemuan

seban)a" 11 pertemuan selama tahun #$1%.

E.1'.> -id the %udit Committee meet at least fou

17omite audit PT !ART Tb" bertemu se"urang

"urangn)a empat "ali dalam setahun hal ini

di3elas"an di dalam annual report PT an"

E.1'.'

Is the attendance of members at

Audit ommittee meetings

disclosed?

17ehadiran "omite audit dalam meeting di3elas"an

didalam annual report PT !ART Tb"i Tahun #$1%

hal %&.

E.1'.1$

-oes the compan) disclose that the Audit

ommittee has primar) responsibilit) for

recommendation on the appointment+ re

appointment and remoal of the e2ternal

auditor?

UK CG Code (June 2010

&.6 The audit committee should hae primar)

responsibilit) for ma"ing a recommendation on the

appointment+ reappointment and remoal of the

e2ternal auditor. If the board does not accept the

audit committee4s recommendation+ it should hae

0

PT !ART Tb" tida" mengung"apan tanggung

3a,ab "omite audit dan penggantian e"sternal

auditor pada annual report PT !ART Tb" #$1%.

E.#$ $nternal auditGuiding Reference Point Reason

E.#$.1 -oes the compan) hae a separate internal

audit function?

"ECD Principle #$ (D

0(Ensuring the integrit) of the corporation4s

accounting and 9nancial reporting s)stems+

including the independent audit+ and that

appropriate s)stems of control are in place+ in

particular+ s)stems for ris" management+ 9nancial

and operational control+ and compliance ,ith the

la, and releant standards.

Ensuring the integrit) of the essential reporting and

monitorin s stems ,ill re uire the board to set and

1

PT !ART Tb" memili"i fungsi internal audit )ang

terpisah )ang dipisah"an dan di3elas"an pada

annual report PT !ART Tb" #$1% hal %' *$

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E.#$.#

Is the head of internal audit identi9ed or+ if

outsourced+ is the name of the e2ternal 9rm

disclosed?

ompanies often disclose that the) hae an internal

audit position but+ in practice+ it is not uncommon for

this to e2ist more in form than in substance. For

e2ample+ the inhouse internal audit role ma) be

assigned to someone ,ith other operational

responsibilities. As internal audit is unregulated+

unli"e e2ternal audit+ there are 9rms proiding

outsourced internal audit serices ,hich are noproperl) :uali9ed to do so. !a"ing the identit) of the

1Pemimpin internal audit sudah diidenti9"asi dan

di3elas"an didalam annual report PT !ART Tb"

#$1% hal *$.

E.#$.&

-oes the appointment and/ or remoal of the

internal auditor re:uire the approal of the

audit committee?

"ECD Principle #$ (D (

In some 3urisdictions it Is considered good practice

for the internal auditor to report to an independent

audit committee of the board or an e:uialent

bod) ,hich is also responsible for managing the

relationship ,ith the e2ternal auditor+ thereb)

allo,ing a coordinated response b) the board

)orld *an+ Principle ,

0GI.-.(.' -oes the internal audit hae direct and

unfettered access to the board of directors and its

independent audit committee?

1

E.#1 Ris+ oversig-t Guiding Reference Point Reason

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E.#1.1-oes the compan) disclose the internal

control procedures/ris" management

s)stems it has in place?

"ECD Principle , (#$ (D (

Ensuring the integrit) of the corporation4s accounting

and 9nancial reporting s)stems+ including the

independent audit+ and that appropriate s)stems of

1

PT !ART Tb" mengung"ap"an prosedur internal

"ontrol atau sistem resi"o mana3emen ditempat"an

annual Report PT !ART Tb" #$1% hal %'*$.

E.#1.#

-oes the annual report disclose that the

board of directors/commissioners has

conducted a reie, of the compan)Hs

material controls 0including operational+

9nancial and compliance controlsand ris"

UKCG Code (June 2010

.#.1 The board should+ at least annuall)+ conduct

a reie, of the e=ectieness of the compan)4s ris"

management and internal control s)stems and

1

-i dalam annual report PT !ART Tb" #$1% hal

%%*1 men3elas"an mengenai dire"si dan

"omisaris telah mela"u"an pengung"apan atas

"ontrol perusahaan.

E.#1.& -oes the compan) disclose ho, "e) ris"s are

"ECD Principle #(%

06Foreseeable ris" factors.1

PT !ART Tb" mengung"ap"an pengelolaan "unci

resi"o )ang di3elas"an didalam annual report PT

!ART Tb" #$1% hal %'.

Documents

ASEAN GCG E.16-E.21