GOVERNANCE MECHANISMS
The governance mechanism is a mechanism for implementing GCG which is reflected in a strong system. This is important, because implementing GCG is not enough just to rely on the pillars of governance structure, but requires clear rules of the game in the form of mechanisms. Governance mechanism can be interpreted as the rules of the game, procedures and a clear relationship between the party who makes the decision and the party who controls/supervises the decision. Collaboration between the pillars of a strong governance structure and clear rules in the form of mechanisms will result in professional, civilized Company management and integrity in carrying out its business activities.
The Company has policies and procedures (soft-structure GCG) which are intended to encourage the Company to be able to carry out checks and balances on every business activity based on applicable GCG principles. These include the Good Corporate Governance guidelines which were ratified through joint decision of the Board of Commissioners and Directors No. 39.3/SK/WBP/PEN/2017 concerning PT Waskita Beton Precast Corporate Governance Procedures. These policies and procedures also become living documents for all levels and levels of the organization in a company.
The Company has a GCG soft-structure which consists of:
The Company's governance guidelines contain basic principles in managing the Company so that in carrying out its business activities, the Company always complies with the implementation of GCG principles. These Company governance guidelines were prepared with the aim of ensuring that every policy in the Company is prepared with an Objective, Risk and Control approach which is directed at encouraging and enlivening checks and balances in every business process at every level and management function based on the spirit and principles. GCG principles. The Company's governance guidelines contain coverage ranging from the main policy points, to basic policy references for the implementation of activities at three levels, namely Corporate, Business and Functional, both regarding business activities, risk management and necessary supporting functions.
The Board of Directors and Board of Commissioners guidelines cover aspects related to the implementation of work relations between the Board of Commissioners and the Board of Directors within the Company by referring to the provisions contained in the Company's Articles of Association and/or other provisions contained in applicable laws and regulations which aim to serve as a reference /guidelines regarding the main tasks and work functions of each organ; improve the quality and effectiveness of working relations between Organs; and implementing the principles of Good Corporate Governance, namely transparency, accountability, responsibility, independence and fairness.
Contains the work procedures of the committees in carrying out their functions to assist the supervisory duties of the Board of Commissioners. The Committee Charter includes a description of the duties of each Commissioner's Committee in assisting the implementation of the duties of the Board of Commissioners in realizing a competent and independent supervisory system and implementation in the Company.
Contains Internal Audit work procedures in carrying out the assurance function in the implementation of the Internal Control System as part of GCG implementation. The Internal Audit Charter includes vision and mission; internal audit targets; position of the internal audit unit; authority; obligation; independence; responsibility; audit standards; scope of audit activities; and relations with external auditors and the Audit Committee and Corporate Governance Policy.
The Internal Audit Manual regulates provisions covering roles and responsibilities, professional standards, policies, risk assessment and audit planning, audit services, audit evidence and working papers, internal audit activity control, internal audit activity communication, monitoring follow-up audit findings, information systems Internal Audit Unit, investigation services, advice services, quality assurance and personnel.
The Whistleblowing System Policy contains reporting guidelines for various allegations of violating the Company's laws and regulations, conflicts of interest, fraud, corruption, bribery and theft that occur in the Company's work environment so as to minimize the risks resulting from violations. The Whistleblowing System Policy includes objectives; roles and responsibilities starting from the Board of Commissioners, Directors and organizational functions within the Company related to WBS management; general provisions for WBS management; other provisions such as sanctions, protection for whistleblowers, receipt of Violation Reports and Follow-up to Violation Reports as well as review and revision of the Whistleblowing System policy.
The Goods and Services Procurement Policy is a guideline for carrying out procurement activities for the Company which contains: Procurement Principles; Fulfillment of Business Regulatory Provisions; Management of Goods and Services Providers; and Strategic Partnerships for Procurement of Goods and Services.
Customer Policy functions to improve the Company's performance in meeting Customer needs by making quality products and services and delivering on time, building good communication with Customers, following up on every complaint and providing a fast, precise and professional response, analyzing the level of Customer satisfaction and create a customer awareness program and ensure occupational safety and health protection for customers and maintain environmental sustainability in accordance with applicable laws and regulations.
The Gratification Control Policy regulates the control of gratuities between Waskita Precast personnel and third parties related to business activities including receiving, giving and requesting gratuities. Controlling gratification is very important for the Company because gratification can give rise to conflicts of interest which can affect the independence, objectivity and professionalism of Waskita Precast's personnel, as well as the risk of leading to criminal bribery which can have legal consequences that have the potential to harm the Company's image.
Vasaka Building, Jl. MT Haryono Kav, No. 10A, Cawang, East Jakarta 13340
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