The Audit Committee was formed by the Board of Commissioners of PT Bayan Resources Tbk (Company) based on Law No. 8 Year 1995 on Capital Market, Law No. 40 Year 2007 on Limited Liability Company, Decision of the Chairperson of Bapepam-LK No. Kep-643/BL/2012 and the amendments thereto, Regulation No. IX.1.5 on the Formation and Work Performance Guidelines of the Audit Committee dated 7 December 2012, and Company Articles of Association No. 145 dated 26 June 2014 drawn up before Notary Mala Mukti, S.H.
The Audit Committee constitutes a supporting organ of the Board of Commissioner which functions to assist and report to the Board of Commissioners in performing its role as the overseer of Bayan Group operations in accordance with good corporate governance principles.
The Audit Committee is led by the Independent Commissioner and has 2 (two) independent members, with one member having a background in Accounting and Finance.
Below are the duties and responsibilities of the Audit Committee of PT Bayan Resources Tbk: