Audit Committee Report

The Audit Committee is responsible to the Board of Commissioners by providing an independent oversight of financial report, reviewing the effectiveness of the Company’s internal control and risk management, ensuring the compliance with the laws and regulations, monitoring the significant legal cases, as well as ensuring the adequacy of independent audit and internal audit in accordance with the Audit Committee Charter.


To assist the Board of Commissioners to implement its roles and responsibilities, the Audit Committee monitors and oversees the implementation of the management’s responsibility for the Company’s internal control and consolidated financial reporting and the Company’s independent auditor’s responsibility for auditing Company’s annual consolidated financial statements prepared in accordance with Indonesian financial reporting standards in order to issue a report containing the auditor’s opinion on those financial statements.


As part of the oversight process, the Audit Committee regularly held meetings with management, the independent auditor and the internal auditor and reported to the Board of Commissioners of the Company.


During 2015, the implementation of the Audit Committee’s roles and responsibilities are conducted by the following main activities:


1. Reviewed and discussed with management the Company’s consolidated financial statements on a quarterly basis.
2. Reviewed and discussed with the internal auditor about its audit activities during 2015 and internal audit plan for 2016.
3. Reviewed significant findings from the internal and external auditors and monitored the subsequent implementation of audit recommendations.
4. Reviewed and discussed with the Company’s independent auditors on its audit service plan and the implementation of the plan.
5. Reviewed and discussed with management regarding the Company’s risk management.
6. Reviewed and discussed with management regarding the Company’s law and regulatory compliance, including monitoring any law and regulation related to the Company’s business and any lawsuit/dispute involving the Company and its business.
7. Held 7 (seven) meetings with management, internal auditor and independent auditor, with the average meeting attendance rate was 100%.


In doing the activities and conducting the roles and responsibilities, the Audit Committee appreciates all explanation and responses given by the management during the course of the activities and the readiness of the management to follow up the audit recommendation.


This report is submitted and signed by the Audit Committee of PT Astra Agro Lestari Tbk.


Jakarta,

31 December 2015