Internal Audit Unit

The Internal Audit Unit is a supporting organ under the President Director who conducts trust and consultation activities that are independent and objective in order to increase the value and improve the Company’s operations, through a systematic approach by evaluating and increasing the effectiveness of risk management, control and the Corporate Governance process.

At PT TIMAH Tbk, the Internal Audit Unit is responsible directly to the President Director and can communicate with the Board of Commissioners through the Audit Committee. Since March 1, 2020, Muhammad Hatta has served as Head of Internal Audit Unit  PT TIMAH Tbk based on the Board of Directors Decree No. 0316/Tbk/SK-0000/2020-S11.2.

Head of Internal Audit Unit) conducts supervision and reports  directly to the President Director. The SPI Head is appointed and dismissed by the President Director after obtaining the Board of Commissioners’ approval, if the SPI Head is unable to fulfill the requirements as an Internal auditor or fails or is unable to conduct his duties.

Based on Directors Decree No. 1214/Tbk/SK-0000/19-S11.2 dated July 10, 2019, the Internal Oversight Unit has 5 (five) Work Units whose services are adjusted to Company’s business strategy, namely Supervision Consultation & Development, Assurance, Quality Control, Representative Auditor and Secretariat Staff.

The Internal Audit Unit has an Internal (SPI) Audit Charter which is ratified through the Board of Directors Decree No. 1293/TBK/SK-0000/2015-S18 concerning the Stipulation of PT TIMAH Tbk (Persero). Internal Audit Charter. The Internal Audit Charter contains:
1. Introduction.
2. Position and Personnel.
3. Code of Conducts and Internal Audit Requirements.
4. Duties, Responsibilities and Authority.
5. Annual Work Program.
6. Audit Report and Audit Follow Up.
7. Closing.

The Internal Audit Unit’s code of ethics includes two important components as follows:
1. Existing principles relevant to the profession and practice of internal supervision in accordance with standards from The Institute of Internal Auditors (IIA)
2. Code of conduct that explains the behavior and norms expected by the SPI.