Internal Audit Unit

With reference to Regulation No. IX.I.7 and Financial Service Authority Regulation No. 56/POJK.04/2015 regarding the Establishment and Guidelines for the Formulation of Internal Audit Unit, the Company established and Internal Audit Unit on 7th December 2009. The Internal Audit Unit was established to improve the efficiency and effectiveness of the Company’s operations, including risk management governance. The Internal Audit Unit is neutral and operates independently from other business activities of the Company.

Stipulated in the Internal Audit Unit Charter, duties and responsibilities of the Internal Audit Unit include, among others, the development and execution of the Annual Internal Audit Plan – as well as the testing, evaluation and implementation of internal control and risk management system. The Internal Audit Unit also conducts evaluation and assessment of various key corporate functions including finance, accounting, operations, human capital, marketing and information technology. Another responsibility of the Audit Internal Unit is to conduct Investigative Auditing if deemed necessary to protect the Company’s interest.

The Internal Audit Unit monitors, analyse and reports the Follow-Up Auditing process to ensure that all internal audit findings and related recommendations are properly addressed. The Unit directly reports to the President Director on its responsibilities, the Internal Audit Unit works closely with the Audit Committee.

Independency, integrity, honesty and objectivity, as well as the quality of audit implementation are always upheld based on Code of Ethics by the Internal Auditor. All audit results are submitted to the organizational unit to be evaluated – as well as the President Director and Board of Commissioners.


Indonesian citizen, born in 1959 (64 years old), Mr. Trisnowibowo is currently an Internal Auditor for MAP. Prior to joining MAP, Mr. Trisnowibowo held executive positions at PT Dipasena Citra Darmaja (2000-2004), Indonesian Financial and Development Supervisory Agency (1983-2000) and Department of Finance – Directorate General for State Financial Monitoring (1981-1983). He earned his Master of Business Administration Degree from University of New Brunswick, and his Diploma IV Degree from State College of Accountancy (STAN).

Appointment of the Internal Audit Unit is based on the President Director’s Decree No. 001/PERS/KET/ MAP/I/2016 dated 3 January 2016. His appointment as Chairman of the Internal Audit Unit is based on his academic background and professional experiences in related fields.

The Company’s Internal Audit Unit did not attend any training/competence development program in 2023.

Review of Internal Audit Effectiveness

Our internal audit activities in 2023 included review of MAP stores and the warehouse for Inventory/Merchandise, Cash Count (Petty Cash and Cash Register), Fixed Assets, Gift Vouchers (for stores selling Gift Vouchers), and General Store Operations such as the condition of stores, grooming of store staff, and administration in the store. In total, we conducted an average of two to three internal audits for stores and one for the warehouse in 2023. These audits were conducted without prior notice to minimize fraud, and additional audits were carried out for stores to minimize stock losses.

Follow-up investigations were conducted for variances in stocks and the stores responsible for the missing stocks. To ensure better transparency and accountability, additional audits were conducted at the request of management as and when required. The overall audit result in 2023 was satisfactory, in line with the Company’s expectations. Reviews of most stores were generally positive with strong customer engagement, but we are continually looking for ways to strengthen the Company’s internal control.

Internal Control

It is important for the Company to establish and consistently apply an internal control system in its business environment. The internal control system, for us, is part of the Company’s governance infrastructure, established to prevent indications of fraud and ensure effective and efficient performance, including the reliability of financial reporting, asset security, and regulatory compliance. Anticipatory actions are taken through the improvement and strengthening of internal control.