PT TIMAH Tbk implements internal control activities with reference to the internationally recognized framework, namely COSO ERM Framework (Internal Environment, Objective Setting, Event Identification, Risk Assessment, Risk Response, Control Activities, Information & Communication and Monitoring). Efforts are made so that the company is confident in maintaining and securing enterprise assets, ensuring the availability of accurate reporting, improving compliance with applicable regulations, reducing the impact of financial losses, deviation including fraud and violation of prudential aspects, as well as improving the effectiveness of organization and improving cost efficiency.
Internal Audit Unit (IAU) served as implementing internal control systems to provide reasonable assurance regarding the achievement of objectives related to the reliability of the company's financial statements, the effectiveness and efficiency of operations, adherence to regulations and security assets.Internal control is monitored, and if necessary, quality can be improved or even more. Monitoring is the process of assessing the quality of internal control performance over time, includes an assessment of the design and operation of control. Effective monitoring includes continuous monitoring (Ongoing Monitoring), Separate Evaluation, and Reporting of Weaknesses or Deficiencies to the Audit Committee conducted every 3 (three) months.