Mitrabara is responsible for designing an internal audit system for an internal reporting process that covers the overall mechanisms from the standard operational procedures, and accountability structure. In order to effectively and efficiently manage Mitrabara’s business, as well as to serve as a basis for a sound and safe operational activity, Mitrabara has implemented an Internal Control System (SPI). The implementation of SPI is supervised by the Internal Audit which has the function of evaluating, reviewing, analyzing and examining the internal control system as well as reporting the findings to the Audit Committee periodically.
Mitrabara’s Internal Audit is an independent division that reports directly to the President Director. In conducting its duties, this division’s function is in synergy with the Audit Committee. The duty of Internal Audit is to perform periodical evaluation on the internal control of the Company and branch offices and audit activities on the Company’s operations and
compliance in order to ensure risk management practice has been conducted in accordance with the policies and written procedures of Mitrabara, as well as with external regulations. In addition to providing assistance in improving and strengthening Mitrabara’s internal control, the Internal Audit also functions as a Strategic Business Partner to generate added values and to develop Mitrabara’s operations. The scope of audit activities conducted by the Internal Audit includes the overall evaluation on operational and production process. The audit visits and auditing focus are conducted in terms of Risk Based Audit.
Duties and Responsibilities of Internal Audit:
- To prepare and execute the annual Internal Audit plan;
- To examine and evaluate the implementation of internal control and risk management system in accordance with the Company’s polices;
- To assess and evaluate, from the economics point of view, the efficiency of Mitrabara's resources utilization.
- To provide inputs on improvement and objective information regarding the activities being audited on all management levels;
- To draft a report on audit results and submit the report to the President Director and Board of Commissioners;
- To observe, analyze and report the implementation of follow-ups of improvement that have been submitted.
- To coordinate with the Audit Committee;
- To draft a program that will be used to evaluate the quality of internal audit activities; and
- To perform special audit activity if deemed necessary.