In conducting its business activities, ICBP is consistently committed to good corporate governance ("GCG") practices. The Company considers GCG as essential for it to enhance its long-term value for shareholders as well as to protect the interests of all stakeholders, including the community. To achieve the highest standard of GCG, the Company has established its GCG Guideline according to the prevailing regulations in Indonesia, the Company's Article of Association, as well as the GCG principles covering transparency, accountability, responsibility and fairness.
Based on Law No. 40 of 2007 regarding Limited Liability Entities, the Company's organs consist of the General Meeting of Shareholders, the Board of Commissioners and Board of Directors. These three bodies, assisted by the Committees and Corporate Secretary, play important roles in the implementation of GCG.
In performing its oversight duties, the BOC is assisted by the following two Committees:
1. Audit Committee
2. Nomination and Remuneration Committee.
|Nomination and Remuneration Committee|
|Chairman||Antonius Prijohandojo Kristanto
Manajer Divisi Corporate Human Resources
Meanwhile a bottom-up approach, using the Company’s ERM Policy and Procedure, enables subsidiary and business unit to be responsible for its own risk assessment which is reported to the BOD and/or related Directors of the subsidiaries and business units. This two-way assessment approach empowers the BOD and the Company management to identify, manage and mitigate the risks from both the management and operational perspectives. The corporate ERM team consolidates the key risks and provides a report to the BOD and the Audit Committee every semester for their review. The Internal Audit Division conducts independent reviews through routine audits to provide reasonable assurance that risks have been identified and proper mitigating controls are in place.