Page 1 | Proprietary and Copyrighted Information INDONESIA CODE OF ETHICS Sylvie Soulier, IESBA Member IESBA Meeting New York June 29 – July 1, 20 15

Page 2 | Proprietary and Copyrighted Information General Information on Indonesia 1)No. of registered public accounting firms – 396 firms 2)No. of certified public accountants – 1,638 CPAs 3)No. of listed companies – 511 companies 4)Total market cap of the Indonesia Stock Exchange - approximately USD405 billion

Page 3 | Proprietary and Copyrighted Information A convergence with the IESBA Code Established by the Indonesian Auditing and Assurance Standards Board of the Indonesian Institute of Certified Public Accountants Adopted and implemented since January 1, 2011 Mainly translated into the Indonesian language from the IESBA Code as set out in the Handbook of International Auditing, Assurance, and Ethics Pronouncements Edition issued by the IFAC with certain modifications to conform with the existing public accounting practices in Indonesia No approval from any regulatory body is necessary for its issuance Indonesia Code of Ethics

Page 4 | Proprietary and Copyrighted Information Translation process into the Indonesian language by the Indonesian Auditing and Assurance Standards Board Conduct meetings to discuss the translation results and contents of the materials covered Harmonization process with the applicable existing practice in Indonesia Discussion and consultation with relevant counterparts/committees within the Indonesian Institute of Certified Public Accountants, if necessary Approval and decision-making process for issuing exposure draft Due process of convergence of the Indonesia Code of Ethics with the IESBA Code

Page 5 | Proprietary and Copyrighted Information Public exposure (public hearing and/or limited hearing) Discussion on feedback received from public exposure Re-performing public exposure if there is any material update on the exposure draft as a result of feedback received during the initial public exposure Approval and decision-making process for issuing the Indonesia Code of Ethics Indonesia has not yet fully adopted the IESBA Code. The convergence process is ongoing Due process of convergence of the Indonesia Code of Ethics with the IESBA Code (continued)

Page 6 | Proprietary and Copyrighted Information The Indonesia Code of Ethics is sourced from the 2008 IFAC Handbook and therefore, has not covered any updates of the IESBA Code since then The Indonesia Code of Ethics has only covered Part A (fundamental principles of the code of ethics) and Part B (illustration of the implementation of conceptual framework of the code of ethics on certain situations and the related safeguards) of IESBA Code and has not covered Part C of the IESBA Code (code of ethics for accountants in business) Main differences between the current Indonesia Code of Ethics and the current IESBA Code

Page 7 | Proprietary and Copyrighted Information Re-performing an engagement by a practitioner from an accounting firm that has been previously performed by another practitioner from another accounting firm is prohibited, unless required by authorized regulatory bodies either in Indonesia or outside of Indonesia. This requirement is not covered in the IESBA Code. The Introduction section of the Indonesia Code of Ethics emphasizes the requirements for practitioners to comply with both the applicable national laws and regulations and the Indonesia Code of Ethics in the event there are differences between the two requirements mentioned above. Main differences between the current Indonesia Code of Ethics and the current IESBA Code (continued)

Page 8 | Proprietary and Copyrighted Information Indonesia Code of Ethics: The Audit Partner and Quality Review Partner – 7 years with 2 years cooling-off period (applicable only to listed companies) Government regulations: 5 years with 2 years cooling–off period for Partners involved in the audit of the following entities: 1)state–owned enterprises 2)commercial banks 3)capital markets institutions (listed companies, securities companies, investment management companies, brokers, mutual funds, etc.) Partner Rotation Rules

Page 9 | Proprietary and Copyrighted Information Government regulations: 5 years with 2 years cooling–off period for Partners involved in the audit of the following entities (continued): 4) insurance/reinsurance companies 5)pension funds Auditing firms which audit companies that fall under the above categories should follow the government regulations on partner rotation. Partner Rotation Rules (continued)

Page 10 | Proprietary and Copyrighted Information 1)Bookkeeping or other services related to the clients accounting records or financial statements; 2)Financial information system design and implementation; 3)Internal audit services; 4)Management advisory services; 5)Human resources services; 6)Financial advisory services; Prohibited services for audit clients under the Independence rules of the Indonesian SEC applicable to listed companies

Page 11 | Proprietary and Copyrighted Information 7)Taxation services unless preapproved by the Audit Committee. The Audit Committee preapproval does not include tax services to represent clients in and out of the Tax Court and/or to provide tax calculations and reporting services; 8)Other services which may cause conflict of interests. Since there is no further elucidation on the above restricted services, the above rules are more stringent than the IESBA Code and the US SEC rules. Therefore, the above services or variants thereof are not allowed to be provided by auditors to their audit clients except tax services with the above condition. Only audit, review and other assurance services are allowed for listed companies in addition to the permissible tax services. Prohibited services for audit clients under the Independence rules of the Indonesian SEC applicable to listed companies (continued)

The Ethics Board