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GCG SYSTEM IN INDONESIA, Fadhila Abidah
09111840000092
Manajemen Risiko…
GCG SYSTEM IN INDONESIA
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Indonesia's code of GCG
- National Committee on Corporate Governance is a specialized body that developed Indonesia’s first CG Code in 1999
- Later replaced with National Committee on Governance, due to concern that the public
sector should also comply with these governance principles
Indonesia's GC Code is not legally binding, but serves as an ethics-based model that provides a reference for successful implementation of CG practices
The CG Code is a living instrument that sets standards and offers guidance as to how companies may implement corporate governance to
Achieve sustainable growth through a management system based on transparency, accountability, responsibility, independence, and fairness
Empower the functions and independence of each company organ, namely, the BoC, the BoD, and the GMS
Encourage shareholders, members of the BoC, and members of the BoD to make responsible decisions that comply with laws and regulations
Stimulate the company’s awareness of social responsibilities, in particular the environmental and societal interests of local communities
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Enhance the national and/or international competitiveness of a company in order to enhance market confidence which may promote investment flow and a sustainable national economic growth
Indonesian companies are encouraged to develop their own corporate governance codes using the CG Code as a reference, and which should cover at least the following
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Procedures for nominating, electing, and dismissing commissioners, and directors
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