Audit Committee, Risk Monitoring & Integrated Governance Committee, and NRG Committee
The Board of Commissioners has supporting committees with the duty and responsibility to support the Board of Commissioners performance. These committees already have clear working guidelines, so that the execution of their duties can be directed and effective. Committees under the Board of Commissioners include The Audit Committee, Risk Monitoring & Integrated Governance Commite and NRG Committee.
The Audit Committee has the duty and responsibility to supervise the effectiveness of internal control system, risk management, internal audit, and financial reporting process. During 2022, the Audit Committee performed its duties, including recommendations to the Board of Commissioners based on financial information reviews, risk management activities reviews, reviews on the audit results by the Internal Control Unit and KAP on the Internal Control System.
The Nomination, Remuneration and GCG Committee is a supporting body intended to assist the Board of Commissioners regarding Nomination, Remuneration and GCG evaluation in WIKA. During 2022, the Nomination, Remuneration and GCG Committee performed its duties, including recommendations to the Board of Commissioners on the Nomination and Remuneration for the Board of Commissioners and the Board of Directors, monitoring compliance in the Company’s activities, and conducting reviews / visits to several projects. The Board of Commissioners periodically reviews the performance effectiveness of the committees belwo the Board, and they consider that during 2022 the committeess performed their duties and responsibilities quite effectively.
The Risk Monitoring Committee is responsible for assisting the Board of Commissioners in improving and refining the Risk Management framework and policies, analyzing and evaluating the Risk Management reports, the company’s risk profile reports, and the implementation of the company’s compliance function in the application of Risk Management.
The Integrated Governance Committee (IGC) is responsible for assisting the Board of Commissioners in carrying out supervisory duties, including the approval of IGC policies, as well as monitoring and evaluating the compliance with the implementation of these policies.