Tony - Workshop Asesor GCG

BPKP 2013
GCG Assessor
Workshop
DEPUTI BIDANG AKUNTAN NEGARA
Aula Timur BPKP
Jl. Pramuka 33
Jakarta
Enhancing Corporate Value Added

Governance is a Matter of Leadership, Nothing More nothing Less



21 May 2013

By this modules end, participants will:

Be Refreshed on Governance Scorecards
Understand Contemporary Governance Scorecards Approaches
Realize the Different Governance Assessment / Scorecards
Be Informed on ASEAN Corporate Governance Scorecard

The Module References:

OECD Organization for Economic & Corporate Development Materials
The WorldBank IFC, In-Depth Advanced ToT
Youtube, for Quotes & Supported Films
The Worldbank Facilitation Consulting Recorded Film
SOX Sarbanes & Oxley

Indonesian Institute for Corporate Directorship (IICD) Board of Trustees

Sentra Pemimpin Asia (SPA) Owner & BOD Member
WEBs Information (Detil):

www.oecd.org/dataoecd/51/52/37998220.ppt
www.totalbp.com/total-website/tbk_file/BR_181211.pdf
www.trs-leadership.webs.com
Brief Facilitators
Tony Silitonga has been working for almost thirty (30) years in different countries, different industries, with different
Resume:
multinationals, such as: IBM, Atlantic Richfield Oil & Gas Company (Indonesia), Standard Chartered Bank (The Philippines), Merrill
Lynch (USA), China Development Industrial Bank (Taiwan), and Indonesian Bank Restructuring Agency (IBRA). He is the member
founder of Total Recovery Strategist (TRS), Sentra Pemimpin Asia (SPA), and FORESPECT. Graduated from Bandung Institute of
Technology major in Petroleum Engineering, he has got his Master in Business Management (MBM) majoring in Finance and
Strategic Management from Asian Institute of Management (AIM), Makati (Philippines), and MBA from Columbia Business School
(CBS), New York (USA) Finance-Exchange scholars program. Recently, he is finalizing his Dissertation for Doctorate in Business
Administration (DBA) from De LaSalle University Manila (Philippines), major in Finance, Strategic Management, and Good
Corporate Governance. He was The Executive Director of Indonesian Institute for Corporate Directorship (IICD) from 2004 to 2010,
and recently member of IICD Board of Trustees. Tony Silitonga was also The Executive Director of AAF (Asia Anti Fraud)
Foundation that was founded with the mission to increase the body of anti fraud knowledge and support anti fraud professionals
within Asian region through seminars, workshops and consultation. Tony Silitonga is the Chairman of FORESPECT, Member of
Commissioner of SPA, and Board of Directors of Total Recovery Strategist (TRS) . TRS is founded by Professionals, SOE experts,
Corporate Raiders, Entrepreneurs, and Top Ranking Navy who have experienced for more than 25 years within different
multinationals, and local corporations, and SOE in different combat areas across the continents. Tony is Recently Member of OJK
Task Force on The Indonesian Corporate Governance Road Map
Ir. Tony Silitonga MBM MBA DBAcan

STANDARD CHARTERED BANK, The Philippines

MERRILL LYNCH, New York, USA
STERLING TRANSTRADE, Manila, The Philippines
DRUGSTORE, INC., Manila, The Philippines
ELNUSA HOLDING CO., Jakarta, Indonesia
GLOBAL FOREST, INC., Singapore
VISEAN ONLINE PTY LTD, Richmond, VIC, Australia
GRANSTAR MOTOR, Manila, The Philippines
PT.INHUTANI I, II, III, IV and V Jakarta, Indonesia
LPEI Jakarta, Indonesia
Otoritas Jasa Keuangan (OJK), Indonesia
PT. PERTAMINA (Persero) GCG & ERM Awareness/Dissemination

PT. PLN (Persero) ERM Implementation Initiation based on GCG
PT. Taspen (Persero) RM Charter based on GCG Best Practices
G-11 ASGARA GCG & ERM Blue Print
IICD Professional Director Programs on GCG (89 Batches-8 years)
LPEI (Former Bank Exim) Governance & ERM Charter
DEPKEU FISCAL ERM Design Framework based on GCG
PLN SUMBAGSEL/JATIM GOVERNANCE & ERM AUDIT
PALU Government Leadership & Risk Governance
OECD Governance Scorecard Implementation
Worldbank IFC- GCGF Washington Train The Trainers (ToT) on Risk Governance
IDEA.NET Train The Trainers (ToT) on Risk Governance
OECD Round Table Meetings on Public Governance & Risk Management (South Korea, China,
India, The Philippines, Thailand, Indonesia)
The Worldbank Indonesian ROSC (Research on Observance of Standard Compliance) on GCG
Best Practices
ADB Governance Implementation using GCG Scorecard 2012
MM UI, MM-UGM, MM-IPB, MM-UPH, MM-SGU, MM-IBII, MM-UNIKA Atma
Jaya, MM-Unibraw, MM-Maranatha

Dissertation on Governance, Risk and Compliance Strategy Implementation
De La Salle University
Members of Asia Anti Fraud Foundation Board
Founder of Indonesian Anti Fraud Award
Head of Anugerah Business Review Jury related to Leadership, Governance,
and Risks
SESPIBI Central Bank Leaders School Speaker on Governance & Risk
Management
Advisor to BPPK on GCG Financial Trainings
Resource Speakers for BI (Central Bank) on Fraud Risk Assessment and
Mitigation
OJK Task Force Team Head of WG-4 on 2013 Indonesian Corporate
Governance ROAD-MAP based on ASEAN CORPORATE GOVERNANCE
SCORECARD, OECD CODE of CONDUCT, and The WORLDBANK ROSC.
BIG PICTURE
The Recent Global Issues ?
BIG PICTURE
BIG PICTURE
BIG PICTURE
The Recent Indonesian Scores ?
Background
Statistics
Losses from fraud are likely to

be grossly misleading because
only a fraction of fraud is
reported. Statistically:
One out of every four persons
will steal whenever they can
(25%).
Two out of four persons will
steal when they think they can
get away with it (50%).
In total, 75% of all persons are
potential fraud perpetrators.
Happy Employees Create

Value
People have creativity,
knowledge, experience, and
ideas that can create value that
doesn't land on a traditional
P&L. Evolving Excellence2007
Half of the Fortune 500 companies in 1987 are not Fortune
500 companies today. Many of these companies have FAILED
AND CLOSED THEIR DOORS FOREVER. Reasons cited are
numerous (Failures of Vision, Identity Crisis, Anybody
Out There, The Glue Sticks, and Sticks, Enemies Within).
Escalating challenge of CEO survival (Within 2 years, 57%
of the largest 367 companies in USA REMOVED their CEOs )
There are CHANGES in nature of the business, investment,

and investors (3 most obvious ones: Constituent Demands
are Greater, Expectations are Higher, Competition is Tougher)
Tan Chen Leong CFE

IICD-Marcus Evans Forum for Directors
16-17 Jan. 2006 Mulia Hotel, Jakarta
What is Corporate Governance ?

Grandfather of Corporate Governance Definitions
GOOD CORPORATE GOVERNANCE = VALUES

Corporate governance is the system by

which business corporations are directed
and controlled.
The corporate governance structure
specifies the distribution of rights and
responsibilities among different
participants in the corporation, such as, the
board, managers, shareholders and other
stakeholders, and spells out the rules and
procedures for making decisions on
corporate affairs.
By doing this, it also provides the structure
through which the company objectives are
set, and the means of attaining those
objectives and monitoring performance.
Attributed to:
OECD Principles of Corporate Governance,
1999 (revised 2004)
Good corporate governance is key to the integrity of corporations, financial institutions and
markets, and central to the health of our economies and their stability.

The OECD Principles are organized into

SIX (6) broad categories:
1.Ensuring the basis for an effective

corporate governance framework
2.Rights of shareholders and key ownership

functions
3.Equitable treatment of shareholders

4.Role of stakeholders
5.Responsibilities of the board
6.Disclosure and transparency

The SOEs Guidelines presented in

the document cover the following
areas:
1.The Equitable Treatment of

2005
Shareholders
2.State Acting as an Owner;

3.Ensuring an Effective Legal and
Regulatory Framework for StateOwned Enterprises;
4.Relations with Stakeholders;

5.Responsibilities of Boards of StateOwned Enterprises.
6.Disclosure and Transparency;

Priorities for Reforming Incentives in

CRISIS in The Financial Markets :
2009
1.Strengthen the regulatory framework

2.Strengthen capital adequacy rules
3.Strengthen understanding of how tax
policies affect the soundness of financial

markets
4.Focus on integrity and transparency in

financial markets
5.Ensure accountability to owners whose

capital is at risk
6.Corporate structures for complex financial

firms
7.Strengthening financial education
programmes and consumer protection

OECD Guidelines for Multinational

Enterprises - Recommendations for
responsible business conduct in a
global context
1.General Policies
2.Disclosure Policies
3.Taxation
4.Human Rights
5.Employment and Industrial Relations
6.Science and Technology
7.Environment
8.Combating Bribery, Bribe Solicitation
and Extortion
9.Consumer Interests
10.Competition
What is NACD Model for Excellence in

Corporate Governance ?
IC
ECONOM
AL
C
I
LIT
O
P
LE
GA
L
NEW ENTRANTS
GOVERNANCE,
RISK, &
COMPLIANCE
SUPPLIER
N
RE ATU
SO R
UR AL
CE
S
RIVALRY
BUYER
SUBSTITUTE
SOCIAL
GY
O
OL
N
CH
E
T
GOVERNANCE,
ETHICS, &
OPERATION
What is
What Regulations to be compliant with ?
GOVERNANCE,
RISK, &
COMPLIANCE
Corporate Governance
Principles
which was written by
the ASX Corporate
Governance Council
(2003), based on the
OECD (1999) corporate
governance principles.
www.griffith.edu.au/school/
gbs/afe/symposium/2008/B
arnes.pdf
OECD - www.oecd.org/dataoecd/32/18/31557724.pdf
BAPEPAM RI - Prinsip-prinsip Oecd 2004 Mengenai Corporate Governance www.bapepam.go.id/pasar_modal/publikasi_pm/kajian_pm/studi2006/Studi-Penerapan-OECD.pdf
Pedoman Umum Good

Corporate Governance
KNKG tahun 2006
ARA Based on GRI
Global Reporting
Initiative (GRI)
supported OECD
Guidelines
www.globalreporting.org/infor
mation/news-and-presscenter/Pages/GRI-StatementLaunch-of-the-OECDGuidelines-for-MultinationalEnterprises.aspx
The Stages of Transformation ?

Dec 2014 ?
Dec 2013
Sept. 2013
June 2013
May 2013
Governance
To Foster Change /Transformation ?
What Do We Need?
What Do We Need?
Choice
Change
Courage
Chance
Implementation
Excellence
NOT AVAILABLE / NOT CLEAR
Check-List for
The Governance Team to Consider
Competence Needs for

The Governance Team to Consider
Does
Good
Corporate
Governance Pay?
Over The Years, The Benefits Of Good Governance Have Warranted Serious
Attention From Business Practitioners And Policymakers Alike. Although The
Benefits Cannot Be Quantified In Money Terms Yet, Understanding The Ways In
Which Good Corporate Governance Practices Are Identified, Evaluated And
Implemented Has Allowed Listed Companies To Increase The Economic Value Of
Their Firms. With Good Governance Practices, Self-serving Decisions Are
Minimized. Lower Agency Costs In A Corporation Thus Lead To Higher Firm Value,
Ceteris Paribus.
The Thai Institute Of Directors Association (Thai Iod), In Close Cooperation With
The Stock Exchange Of Thailand And The Securities And Exchange Commission
Thailand, Has Played A Central Role In Encouraging Thai Publicly-listed Companies
To Adopt Good Governance Practices That Meet The International Standards. One
Outcome Of This Continuing Dedicated Effort Is The Series Of Corporate
Governance Report Of Thai Listed Companies (CGR). The Evaluation Framework
Was Based On The Principles Of Good Governance Developed By The
Organization For Economic Cooperation And Development (OECD). The Thai IOD
Adapted These Internationally Accepted Principles Into An Evaluation Template To
Ten (10) Boardroom Challenges
Does
Good
Corporate
Governance Pay?
Last year, Thai IOD conducted a corporate governance assessment of 513 listed
companies. An average score of the 2012 survey is 77 percent, which is considered
satisfactory and is equivalent to the average of the 2011 survey (497 companies).
The results of the 2012 survey show that the Rights of Shareholders and Disclosure
and Transparency categories earned the highest average score of 88 percent. On
the otherishand,
the Role
of StakeholdersNothing
and Board
Responsibilities
categories
Governance
a Matter
of Leadership,
More
nothing Less
Only 8 % of listed companies annual reports were short listed for final marking.
Need to raise the overall level of non-mandatory disclosures.
The level of non-mandatory disclosures for SESDAQ companies remains
markedly left behind.
Discussion of risk management needs to be given a higher profile.
Disclosure of investor relations activities remain inadequate. Many companies
hold investor meetings and disseminate information to groups of analysts.
However, most companies shy away from disclosing these activities to the
stakeholders.
Corporate Social Responsibility and Environmental Reporting initiatives that
adequately demonstrates the companys commitment to these remain lacking,
especially compared to leading practices in the US and Europe.
Annual report awards

Overall award of excellence
Canadian Tire Corporation, Limited
Metals and minerals
Cameco Corporation
Oil & Gas
Suncor Energy Inc.
Forest products
Nexfor Inc.
Consumer products and services
Molson Inc.
Primary manufacturing
Nova Chemicals Corporation
Secondary manufacturing
Bombardier Inc.
High tech
Celestica Inc.
Media & communications
The Thomson Corporation
The report should "gives the reader confidence that the whole story is being
told, and that management is unafraid to say what needs to be said." (CICA,
the Canadian Investor Relations Institute and the Toronto Society of Financial
Analysts)
The evaluation was divided into four main segments: annual report awards in
13 industry categories; electronic disclosure; corporate governance
disclosure; and environmental and sustainability reporting.
Should "stands out as a true example of how corporations today need to
embrace the Web to forge deeper relationships with their shareholders.
Should have "distinctive approaches to the disclosure of corporate
governance practices."
Should have vision for sustainability that is clearly articulated and reinforced
within the business goals of the organization.
Telecommunications
TELUS Corporation
Transportation and conglomerates
Brascan Corporation
Utilities & real estate
TransAlta Corporation
Merchandising
Canadian Tire Corporation, Limited
Financial institutions & services
Royal Bank of Canada
TSE Award of Excellence in
Electronic Disclosure
Bank of Montreal
Corporate governance
Manulife Financial
Environmental Reporting
Awards
Manufacturing & other companies
TransAlta Corporation Resource companies
Suncor Energy Inc.
Award of Excellence in Design
TransAlta Corporation
Best Annual Report

Cedars-Sinai Health System
The major features of the annual reports that evaluated: letter to

shareholders, narrative, design and photography, and financial
presentation.
All annual reports on Form 10-K filed by Fortune 500 companies received
a preliminary review, which we have sometimes referred to as a
screening.
Companies should provide more discussions about their critical
accounting policies.
Under an appropriate heading, companies are encouraged to disclose
their most difficult and judgmental estimates, the most important and
pervasive accounting policies they use, and the areas most sensitive to
material change from external factors, and to provide a sensitivity
analysis to facilitate an investor's understanding of the impact on the
bottom line.
Front Cover
American Red Cross
Photography / Graphic Design
American Red Cross
Letter to Stakeholders
Komen Foundation
Narrative
Shriners Hospital for Children
Financial Presentation
Federal Reserve Bank of Dallas
Online Annual Report
Visiting Nurse Foundation
Best Annual Report

Cedars-Sinai Health System
Disclosure of critical accounting policies should be

presented in one or more of the following areas:
Revenue recognition;
Restructuring charges;
Impairments of long-lived assets, investments and goodwill;
Depreciation and amortization expenses;
Income tax liabilities;
Retirement and post retirement liabilities;
Pension income and expense;
Environmental liabilities;
Repurchase obligations under repurchase commitments;
Stock based compensation;
Insurance loss reserves; and
Inventory reserves and allowance for doubtful accounts.
Front Cover
American Red Cross
Photography / Graphic Design
American Red Cross
Letter to Stakeholders
Komen Foundation
Narrative
Shriners Hospital for Children
Financial Presentation
Federal Reserve Bank of Dallas
Online Annual Report
Visiting Nurse Foundation
Declared; 23 June 2005

Legal Forms: Perhimpunan
Organization Structure is based on GRI
The Global Reporting Initiative (GRI)
is a multi-stakeholder
process and independent institution that produce Guidelines
which are for voluntary used by organizations for reporting on the
economic, environmental, and social dimensions of their
activities, products, and services.
Started in 1997, GRI became independent in 2002.
GRI is an official collaborating centre of the United Nations
Environment Programme (UNEP) and works in cooperation with
UN Secretary-General Kofi Annans Global Compact.
*) ACMF_PRESS_RELEASE_ASEAN_CG_SCORECARD A copy of the Scorecard can be found at

http://www.theacmf.org/ACMF/upload/asean_cg_scorecard.pdf
*) Mohd Sani Ismail - Financial Sector Specialist-Public Management, Finance and Trade Division (SEPF)
Southeast Asia Department - Asian Development Bank
*) Mohd Sani Ismail - Financial Sector Specialist-Public Management, Finance and Trade Division (SEPF)
Southeast Asia Department - Asian Development Bank









B.2
Insider Trading And Abusive Self-dealing Should Be Prohibited.
Does the company have a policy requiring directors /

B.2.1 Commissioners and key officers to notify the Board or
(B)
its delegate at least one day before they deal in the
company shares?

E.3
Board Appointments and Re-Election
Does the company compile a board profile when

considering candidates to the board (i.e., identify the
E.3.1 professional skills and personal characteristics
(B)
present on the current board; identify the missing
skills and characteristics; and nominate individuals
who could fill possible gaps)?

Action Ideas
78
Summary, Action Ideas,

Closure
Governance is a Matter of Leadership, Nothing More nothing
Less
Questions



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BPKP 2013

Enhancing Corporate Value Added

Enhancing Corporate Value Added

Enhancing Corporate Value Added

Enhancing Corporate Value Added

Enhancing Corporate Value Added

By this modules end, participants will:

Enhancing Corporate Value Added

The Module References:

Enhancing Corporate Value Added

Indonesian Institute for Corporate Directorship (IICD) Board of Trustees

WEBs Information (Detil):

Ir. Tony Silitonga MBM MBA DBAcan

Enhancing Corporate Value Added

Governance is a Matter of Leadership, Nothing More nothing Less

STANDARD CHARTERED BANK, The Philippines

Governance is a Matter of Leadership, Nothing More nothing Less

PT. PERTAMINA (Persero) GCG & ERM Awareness/Dissemination

Governance is a Matter of Leadership, Nothing More nothing Less

MM UI, MM-UGM, MM-IPB, MM-UPH, MM-SGU, MM-IBII, MM-UNIKA Atma

Jaya, MM-Unibraw, MM-Maranatha

Governance is a Matter of Leadership, Nothing More nothing Less

Governance is a Matter of Leadership, Nothing More nothing Less

Governance is a Matter of Leadership, Nothing More nothing Less

The Recent Global Issues ?

Governance is a Matter of Leadership, Nothing More nothing Less

The Recent Global Issues ?

Governance is a Matter of Leadership, Nothing More nothing Less

The Recent Global Issues ?

Governance is a Matter of Leadership, Nothing More nothing Less

The Recent Indonesian Scores ?

Governance is a Matter of Leadership, Nothing More nothing Less

Losses from fraud are likely to

Happy Employees Create

There are CHANGES in nature of the business, investment,

Tan Chen Leong CFE

Governance is a Matter of Leadership, Nothing More nothing Less

What is Corporate Governance ?

GOOD CORPORATE GOVERNANCE = VALUES

Governance is a Matter of Leadership, Nothing More nothing Less

What is Corporate Governance ?

Corporate governance is the system by

Governance is a Matter of Leadership, Nothing More nothing Less

What is Corporate Governance ?

The OECD Principles are organized into

1.Ensuring the basis for an effective

2.Rights of shareholders and key ownership

3.Equitable treatment of shareholders

Governance is a Matter of Leadership, Nothing More nothing Less

What is Corporate Governance ?

The SOEs Guidelines presented in

1.The Equitable Treatment of

2.State Acting as an Owner;

4.Relations with Stakeholders;

6.Disclosure and Transparency;

Governance is a Matter of Leadership, Nothing More nothing Less

What is Corporate Governance ?

Priorities for Reforming Incentives in

1.Strengthen the regulatory framework

policies affect the soundness of financial

4.Focus on integrity and transparency in

5.Ensure accountability to owners whose

6.Corporate structures for complex financial