TOP GRC Awards 2023: Building Resilience And Business Liability Via ESG And GRC

JAKARTA - The Top GRC (Governance, Risk, and Compliance) Awards 2023 were given to well-known companies from a number of industrial sectors, at the Raffles Hotel Jakarta, Wednesday, September 6.

The event was attended by hundreds of groups from various companies. They are business executives from the company that won the award, consultants or business observers, the mass media, and others.

There are several of the best companies that receive prestigious awards. Among them are PT Jasa Raharja, PT CIMB Niaga Tbk, PT Pos Indonesia, Telkom Access, PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk, Pupuk Sriwidjaja Palembang, PT BPD Jatim Tbk, Pupuk Indonesia Utilities, PT Sarana Multi Infrastruktur, PT Penjaminan Infrastruktur Indonesia, PT Indo Tambangraya Megah Tbk, PT Semen Gresik, PT Bank Seabank Indonesia, PT Malinora Power, PT FKS Food Sejahtera Tbk., and many other companies.

The theme was raised for this year's Building Resilient Future Through ESG (Environment, Social, and Governance) and GRC. This means, through the 2023 Top GRC Awards, there is a desire to continue to encourage the development of business resilience in the future, through the ESG and GRC approaches. Thus, the company's business performance can continue to grow sustainably, said the Head of the 2023 Top GRC Awards Organizer, M. Lutfi Handayani.

"In addition to assessment and awarding activities, the Top GRC Awards also have many aspects of joint learning in the field of implementing the GRC, especially for participating companies," said Lutfi who is also the Editor of TopBusiness Magazine.

"Top GRC Awards, which are the largest GRC award activities, the most participants, and the proudest in Indonesia. The TOP GRC Awards jury, which conducts assessments and deepenings, have mostly received GRC certification from the LSP GRK, so that it has capabilities and credibility in conducting GRC assessments," explained Lutfi.

In his remarks at the event, the Chairman of the National Committee for Governance Policy (KNKG), Prof. Mardiasmo, said a number of things. He said the importance of the four pillars in GCG. Namely: ethical behavior, transparency, accountability, and sustainability.

"Ethical behavior is very important. Because the implementer of the integrated GRC is human," said the former Deputy Minister of Finance of the Republic of Indonesia.

The four pillars, he added, are listed in the general guidelines for Indonesia's governance. "So, the four pillars must be properly maintained for the sake of corporations," he emphasized.

In the last three decades, the GRC has grown in response to large-scale macroeconomics and business changes. The corporation faces greater uncertainty. Also, there are many new risks that previously could not be anticipated properly. "So, now the GRC is entering a new phase, namely focusing on adequate response," Mardianto emphasized.

The chairman of the 2023 Top GRC Awards Jury, Antonius Alijoyo, said that with the more effective implementation of the GRC, the business performance of companies in Indonesia will remain safe and grow well. Thus, public trust and investors, both from within and outside the country, will be maintained and even more improved.

Antonius mentioned, the process of assessing and determining the recipients of the 2023 Top GRC Awards, carried out with the following stages:

First, in the judging interview, the Jury deepened the success of the GRC. So, the Jury did not test, but explored the success of the GRC of participating companies.

Second, the Jury also appreciated the directors and commissioners who were present in the judging interview. Because this also shows the high commitment of the top level management, in terms of the implementation of GRC in his company.

Third, the determination of the winners/receivers of the 2023 Top GRC Awards, was carried out collectively at the Plenary Session of the Jury Council, with a more emphasis on the completeness of the system, infrastructure, and aspects of GRC implementation. Including business performance output, is also an assessment of the Jury.

And Fourth, the Jury has the authority to cancel or revoke the awards received by participants, if in the future, legal problems are found, especially those with permanent legal force, or other problems that are very contrary to GRC principles at participating companies.

The Top GRC Awards 2023 is the largest and most proud GRC award activity in Indonesia. The Top GRC Awards 2023 was held by TopBusiness Magazine in collaboration with a number of institutions. Namely the Indonesian GRC Association, IRMAPA (Indonesia Risk Management Professional Association), ICOPI (Institute Compliance Professional Indonesia), PAGI (Indonesian Governance Professional Association).

In addition, there are several consulting firms GCG (good corporate governance) and risk management, as well as compliance management consultants. They are Sinergi Daya Prima, SGL Management, Dwika Consulting, Melani K. Harriman and Associate, Business Performance Solutions. There are also several teaching staff at the Faculty of Economics and Business, Padjadjaran University, Bandung.

And for the highest level, Level 5 Star 5, the Jury applies additional criteria that are quite strict. Not only is the criteria for the system, infrastructure, and implementation of the GRC good, but there must be aspects related to the GRC, which can be used as an example, or can be a benchmark for other companies. So the point is, in certain ways, the GRC Level 5 star can be used as a benchmark for other companies.