Generated and Distributed Economic Values [201-1]
The Company manages economic value with the intention of maximizing value for all stakeholders, including customers, suppliers, employees, shareholders, society, government, and also the environment. Until now, the economic impacts generated by the Company is very positive and can support sustainable development goals. All Directors and President Directors are responsible for the economic performance reported to the Board of Directors every month. The development of the Company's economic performance is monitored and approved by the Board of Commissioners and shareholders. Furthermore, the entire annual financial budget of the Company has also been approved by the Board of Commissioners and Shareholders. The approved budget will be submitted for approval by the Ministry of Energy and Mineral Resources. The results will be reported to the Government and all shareholders. The existing budget continues to be developed based on the Company's resources, mine life, and market conditions. Further information regarding economic performance can be found in the annual report which is available on the Company's website. [207-1]
Consolidated Financial Statements
The consolidated financial statements are prepared based on the Statement of Financial Accounting Standards (PSAK) and Interpretation of Financial Accounting Standards (ISAK) issued by the Indonesian Accounting Standards Board - Indonesian Accountants Association (DSAK-IAI), as well as Regulations Guidelines for the Presentation and Disclosure of Financial Statements issued by the Financial Services Authority (OJK) for entities under its supervision and other accounting provisions that are commonly applied in the Capital Market. To ensure the validity of the Consolidated Financial Statements that have been prepared, PT TIMAH Tbk conducted an external audit through an independent third party, which is the Public Accounting Firm Tanudiredja, Wibisana, Rintis & Rekan (Member of the PwC Firm Network) in 2022. Based on the audit results, the KAP issued an Unmodified opinion on the 2022 Financial Statements. Detailed information related to the consolidated financial statements can be seen in the 2022 Annual Report.
Comparison of target and portfolio performance, financing targets, or investment in financial instruments or projects that are in line with the implementation of sustainable performance. [F.3]