Internal Audit Charter
To ensure the company’s business activities run well and in accordance with regulations in Tugu Insurance, the President Director of Tugu Insurance has formed an Internal Audit Unit with the approval of the Board of Commissioners. A Head of the Internal Audit Unit has also been appointed, which reports directly to the President Director.
In carrying out duties and responsibilities, the Internal Audit Unit adheres strictly to the Internal Audit Charte,r which is approved through Decree of the Directors No. 014/SKD/CSG/TPI/III/2018 dated March 21, 2018, in accordance with Financial Services Authority Regulation No. 56/POJK.04/2015 concerning the Formation and Guidelines for the Preparation of Internal Audit Unit Charter. The Internal Audit Charter contains a number of provisions relating to Internal Audit, including structure and position, duties and responsibilities, requirements and the Internal Auditor’s code of ethics, authority, and accountability.
The Internal Audit Charter is implemented by the Internal Audit Unit by upholding five main values, which include integrity, objective, confidentiality, competence, and skepticism. Then, the Internal Audit Unit evaluates the implementation of internal control and management systems that are in accordance with the company policy. The responsibilities of the Internal Audit Unit also include examining effectiveness in accounting, finance, operations, human resources, marketing, and information technology.
If there are any deficiencies found in the results of the inspection and evaluation, the Internal Audit Unit will provide recommendations for improvements and objective information. Only then will the audit report be prepared to be submitted to the President Director and the Board of Commissioners through the Audit Committee. Based on the improvements that have been suggested, the Internal Audit Unit will monitor, analyze, and report the implementation.
On the other hand, the Internal Audit Unit is also responsible for monitoring the implementation of internal audits at Tugu Insurance’s subsidiaries to maximize internal audit integration. Working closely with the Audit Committee, the Internal Audit Unit prepares and submits an integrated Audit Report.