E.

16

Committee appraisal

Guiding Reference

Point

Evidence and Disclosure

E.16.1

Is an annual performance assessment

conducted
of
the
board
of
directors/commissioners committees?

UK CG Code (June 2010)

Ya mengacu pada Annual Report PT SMART Tbk Tahun

2014 halaman 39 dan 40.

E.17

Remuneration Committee/ Compensation

Committee

Guiding Reference

Point

Evidence and Disclosure

PT SMART memiliki komite remunerasi yang dibentuk

tahun 2015, mengacu pada struktur organisasi dan
website resmi PT SMART Tbk.

PT SMART memiliki komite remunerasi yang dibentuk

tahun 2015, mengacu pada struktur organisasi dan
website Perusahaan.

PT SMART Tbk memiliki komite remunerasi yang terdiri

OECD Principle VI (D)

E.17.1

Does the company have a Remuneration

Committee (RC)?

E.17.2

Does the Remuneration Committee comprise

a
majority
of
independent
directors/commissioners?

E.17.3

Does the Remuneration Committee have an

(4) Aligning key executive and board

remuneration with the longer term
interests of the company and its
shareholders.

It is considered good practice in an

increasing number of countries that
remuneration policy and employment
contracts for board members and key
executives be handled by a special
committee of the board comprising
either
wholly
or
a
majority
of
independent directors. There are also
calls for a Remuneration Committee that
excludes executives that serve on each
others RCs, which could lead to conflicts
of interest.

dari jabatan ketua dipimpin

oleh dari komisaris
independen, dan anggota yang berasal dari komisaris
utama dan komisaris yang dijelaskan pada website
resmi PT SMART Tbk .

independent chairman?

OECD Principle VI (E)

E.17.4

E.17.5

Does the company disclose the terms of

reference governance structure/ charter of the
Remuneration Committee?

Does the annual report disclose the number of

Remuneration Committee meetings held?

(2) When committees of the board are

established, their mandate, composition
and working procedures should be well
defined and disclosed by the board.

While the use of committees may

improve the work of the board they may
also raise questions about the collective
responsibility of the board and of
individual board members. In order to
evaluate the merits of board committees
it is therefore important that the market
receives a full and clear picture of their
purpose, duties and composition. Such
information is particularly important in
an increasing number of jurisdictions
where
boards
are
establishing
independent audit committees with
powers to oversee the relationship with
the external auditor and, in many cases,
to act independently.
Other such
committees include those dealing with
nomination and compensation. The
accountability of the rest of the board
and the board as a whole should be
clear. Disclosure should not extend to

PT SMART TBK telah mengungkapkan istilah referesnsi

dari struktur tata kelola/ charter dari komite
remunerasi yang tertera pada website PT SMART Tbk.

PT SMART Tbk baru membentuk Komite Remunerasi di

tahun 2015 sehingga belum mengungkapkan jumlah
pertemuan Komite Remunerasi.

committees set up to deal with, for

example,
confidential
commercial
transactions.

Given the responsibilities of the RC spelt

out in codes of corporate governance,
the RC is unlikely to be fulfilling these
responsibilities effectively if is only
meets once a year. Globally, the RC of
large companies would meet several
times a year.

E.17.6

Did the Remuneration Committee meet at

least twice during the year?

PT SMART Tbk baru membentuk Komite Remunerasi di

tahun 2015 sehingga belum mengungkapkan jumlah
pertemuan Komite Remunerasi.

E.17.7

Is
the
attendance
of
members
at
Remuneration
Committee
meetings
disclosed?

PT SMART Tbk baru membentuk Komite Remunerasi di

tahun 2015 sehingga belum mengungkapkan jumlah
pertemuan Komite Remunerasi.

E.18

Remuneration matters

Guiding Reference

Point

Reason

OECDPrinciple VI (D)
(4)Aligningkey
executiveand
board
remunerationwith the longer terminterests
of the companyand its shareholders.

E.18.1

Does the company disclose its remuneration

policy (i.e. the use of short-termand longtermincentivesand performancemeasures) for
its executive directors?

Inan increasingnumber of countries it is1

regardedasgood practice for boards to
developand disclosea remuneration policy
statement coveringboardmembersand key
executives.Such policy statements specify
the
relationship
between
remunerationandperformance,and
includemeasurablestandards
that
emphasize the longer terminterests of the

PT SMART Tbk baru membentuk Komite Remunerasi

di tahun 2015 sehingga belum mengungkapkan
jumlah pertemuan Komite Remunerasi.

UKCGCode (June 2010)

E.18.2

Is there disclosure of the fee

structure
for
non-executive
directors/commissioners?

D.1.3 Levels of remuneration for nonexecutive directors should reflect the

time commitmentand responsibilities of
the role.

Disclosure
executive

of fee structure for nondirectorsallows shareholders

PT SMART Tbk baru membentuk Komite Remunerasi

di tahun 2015 sehingga belum mengungkapkan
jumlah pertemuan Komite Remunerasi.

OECDPrinciple II (C)

E.18.3

(3)Effective shareholder participation in

key corporategovernance decisions,suchas
the nominationand election of board
members,should
be
facilitated.
Shareholders should beable tomake their
views known on the remuneration policy
Is
the
total
remuneration
for boardmembersand key executives. 1
(fees,allowances,benefits-in-kindand
other
The equity component of compensation
emoluments) orany increases in remuneration
schemes
for
boardmembersand
for
the
non-executive
employees
shouldbesubject
directors/commissionersapproved
by
toshareholderapproval.
shareholders?

UKCGCode (June 2010)

PT SMART Tbk baru membentuk Komite Remunerasi

di tahun 2015 sehingga belum mengungkapkan
jumlah pertemuan Komite Remunerasi..

UKCGCode (June 2010)

(D.1.3)Levels of remuneration for nonexecutive directors should reflect the
time commitmentand responsibilities of
the role.
Remuneration for nonexecutive directors should not include
share options or other performancerelated
elements.If,
by
Do
exception,optionsaregranted,shareholder
independ
ent non
approval
should
be
sought
executiv
e
sharesacquired
by
directors/Do
independent
non-executiveinadvanceandany
commissidirectors/commissioners
receive
oners
options,performance shares or bonuses?
exercise
of
the
options
should
be
held
receive
options,p
untilat least one yearafter the nonerforman
ce shares
executive
director
leaves
the
or
bonuses?
board.Holdingof share options could be
relevant to the determination ofa nonexecutive directors independence (as
set out in provision B.1.1).

PT SMART Tbk baru membentuk Komite Remunerasi

di tahun 2015 sehingga belum mengungkapkan
jumlah pertemuan Komite Remunerasi..

ASX Code
Box 8.2: Guidelines
director remuneration

for

non-executive

Companiesmay find it useful to consider

the
followingwhen
consideringon-

E.19

Audit Committee

Guiding Reference

Point Reason

OECDPrinciple VI (E)

E.19.1 Does the company havean AuditCommittee?

Does
theAuditCommittee
comprise
entirely
of
non-executive
E.19.2 directors/commissionerswitha majority
of
independent
directors/commissioners?

(1) Boards should considerassigninga sufficient

number of non-executive boardmembers capable of
exercising independentjudgment to taskswhere there
isa potential for conflict of interest.Examples of such
key responsibilitiesare ensuringthe integrity of
financialand non-financial reporting,the review of
related-party
transactions,nomination
of
board
membersandkey executives,and board remuneration. 1

OECDPrinciple VI (E)
1
(2)When
committees
of
the
boardare
established,theirmandate,compositionandworking
procedures should bewell defineand disclosedby
theboard.

While the use of committeesmay improve thework of

E.19.3 Does theAuditCommitteehavean independent
the board theymayalso raise questionsabout the
chairman?
collective responsibility of the boardand of individual
boardmembers.In order to evaluate themerits of board

PT SMART Tbk memiliki komite audit, hal ini

dijelaskan didalam annual report PT SMART Tbk
Tahun 2014 hal 15.

Pada PT SMART Tbk, komite audit secara

keseluruhan terdiri dari komisaris independen hal
ini tertera di dalam annual report PT SMART Tbk
Tahun 2014 hal 47 .

Pada PT SMART Tbk, komite audit

memiliki
pemimpin independen yang dijelaskan pada annual
report PT SMART Tahun 2014 hal 19.

Does the company disclose the terms of

reference/governance structure/ charter
E.19.4
of theAuditCommittee?

E.19.5

committees it is therefore important that themarket

receivesa
fulland
clear
picture
of
their
purpose,dutiesand
composition.Such
information
isparticularly important in the increasingnumber
ofjurisdictionswhereboardsare
1
establishingindependent audit committeeswith powers
to
oversee
the
relationshipwith
the
externalauditorand,inmany cases,toact independently.
Othersuch
committees
include
thosedealingwithnominationand
compensation.Theaccountability of the rest of

Most codes specify the need foraccounting/finance

Does theAnnual Report disclose the profile orexpertise or experience.
1
qualifications of theAuditCommitteemembers?

UKCGCode (June 2010)

C.3.1. The board should satisfy itself thatat least
Doesat least one of the independent onemember of theaudit committee has recentand
of
the relevant financial experience.
E.19.6 directors/commissioners
AuditCommittee
haveaccountingexpertise
Asmany of the key responsibilities of theaudit
(accountingqualification or experience)?
committeeareaccounting-related,suchas
oversight
of financial reporting andaudits,it is important to
have
someone
specificallywithaccountingexpertise,notjustgeneral
financial expertise.

PT SMART Tbk telah mengungkapkan istilah dari

referensi, struktur tata kelola, cahrter dari komite
audit yang tertera pada annual report PT SMART
Tbk Tahun 2014 hal 42 51.

Laporan
tahunan
PT
Smart
Tbk
telah
mengungkapkan profil dan kualifikasi anggota
komite audit yang tertera di dalam annual report
PT Smart Tbk Tahun 2014 hal 19 dan 46-47.

0
Terdapat komisaris independen dengan kualifikasi dan
pengalaman terkini di bidang akuntansi. Dijelaskan
dalam profil komisaris independen pada Annual Report
PT Smart Tbk halaman 19.

E.19.7

Does the Annual Report disclose the

number of Audit Committee meetings
held?

1
E.19.8

Did the Audit Committee meet at least four

OECD Principle VI (E) (2)
times during the year?
Is the attendance of members at
1
Audit
Committee
meetings
E.19.9
disclosed?
Does the company disclose that the AuditUK CG Code (June 2010)
Committee has primary responsibility for
E.19.10 recommendation on the appointment, re-C 3.6 The audit committee should have primary
appointment and removal of the externalresponsibility for making a recommendation on the 0
auditor?
appointment, re-appointment and removal of the
external auditor. If the board does not accept the
audit committees recommendation, it should have
include
the annual report, and in any papersPoint
Guiding in
Reference
E.20
Internal audit
OECD Principle VI (D)

E.20.1

(7)Ensuring the integrity of the corporations

accounting and financial reporting systems,
including the independent audit, and that
appropriate systems of control are in place, in
particular, systems for risk management, financial
and operational control, and compliance with the
Does the company have a separate internal law and relevant standards.
audit function?
Ensuring the integrity of the essential reporting and
monitoring systems will require the board to set and

PT SMART Tbk mengungkapkan jumlah pertemuan

yang diaadakan oleh komite audit yang dijelaskan
di dalam annual report PT SMART Tbk Tahun 2014
hal 45. Komite Audit mengadakan pertemuan
sebanyak 11 pertemuan selama tahun 2014.
Komite audit PT SMART Tbk bertemu sekurangkurangnya empat kali dalam setahun hal ini
dijelaskan di dalam annual report PT Bank
SMART
Tbkkomite
Tahun 2014
43. meeting dijelaskan
Kehadiran
audit hal
dalam
didalam annual report PT SMART Tbki Tahun 2014
hal 43.
PT SMART Tbk tidak mengungkapan tanggung
jawab komite audit dan penggantian eksternal
auditor pada annual report PT SMART Tbk 2014.

Reason

PT SMART Tbk memiliki fungsi internal audit yang

terpisah yang dipisahkan dan dijelaskan pada
annual report PT SMART Tbk 2014 hal 49 - 50

E.20.2

Companies often disclose that they have an internal

audit position but, in practice, it is not uncommon for
this to exist more in form than in substance. For
Is the head of internal audit identified or, if
example, the in-house internal audit role may be1
outsourced, is the name of the external firm
assigned to someone with other operational
disclosed?
responsibilities. As internal audit is unregulated,
unlike external audit, there are firms providing
outsourced internal audit services which are not
properly qualified to do so. Making the identity of the
head of
internal audit
the external service provider
OECD
Principle
VI (D)or(7)

Pemimpin internal audit sudah diidentifikasi dan

dijelaskan didalam annual report PT SMART Tbk
2014 hal 50.

In some jurisdictions it Is considered good practice

for the internal auditor to report to an independent
audit committee of the board or an equivalent
body which is also responsible for managing the
relationship with the external auditor, thereby
allowing a co-ordinated response by the board
1
World Bank Principle 6
E.20.3

E.21

Does the appointment and/ or removal of the

internal auditor require the approval of the
audit committee?

Risk oversight

(VI.D.7.9) Does the internal audit have direct and

unfettered access to the board of directors and its
independent audit committee?

Guiding Reference

Point

Reason

OECD Principle 6 (VI) (D) (7)

E.21.1

E.21.2

Does the company disclose the internal

control procedures/risk management
systems it has in place?

Does the annual report disclose that the

board of directors/commissioners has
conducted a review of the company's
material controls (including operational,
financial and compliance controls)and risk
management systems?

PT SMART Tbk mengungkapkan prosedur internal

kontrol atau sistem resiko manajemen ditempatkan
annual Report PT SMART Tbk 2014 hal 49-50.

Di dalam annual report PT SMART Tbk 2014 hal

44-51 menjelaskan mengenai direksi dan
komisaris telah melakukan pengungkapan atas
kontrol perusahaan.

PT SMART Tbk mengungkapkan pengelolaan kunci

resiko yang dijelaskan didalam annual report PT
SMART Tbk 2014 hal 49.

Ensuring the integrity of the corporations accounting

and financial reporting systems, including the
independent audit, and that appropriate systems of
control are in place, in particular, systems for risk
UKCG Code (June 2010)
C.2.1 The board should, at least annually, conduct
a review of the effectiveness of the companys risk
management and internal control systems and
OECD Principle V(A)
(6)Foreseeable risk factors.

E.21.3

Does the company disclose how key risks are

managed?