Yes, failure to comply with accounting and tax regulations in Indonesia may result in penalties and fines imposed by the tax authorities. It is crucial to maintain accurate records, meet reporting deadlines, [...]
Small businesses that do not meet the criteria mentioned earlier are generally not required to have their financial statements audited. However, they are still required to maintain proper accounting records and comply [...]
In accordance with the Company Law in Indonesia, limited liability companies are required to have their financial statements audited by a registered public accountant if they fulfil any of the following conditions: [...]
An auditor plays a crucial role in verifying and assessing the accuracy and reliability of a company's financial statements. They conduct an independent examination of the financial records, assess internal controls, and [...]
The financial statements must be prepared and filed within four months after the end of the company's fiscal year. For example, if the fiscal year ends on December 31st, the financial statements [...]
Financial statements should be prepared at least once a year and submitted to the relevant authorities, such as the Ministry of Finance or the Indonesian Financial Services Authority (OJK), depending on the [...]
All companies in Indonesia are required to maintain proper accounting records, including ledgers, journals, financial statements, and supporting documents.
The accounting standard in Indonesia is the Indonesian Financial Accounting Standards (Standar Akuntansi Keuangan – SAK).
Indonesia has not adopted the IFRS standards for reporting by domestic companies.
Depending on your volume of activity, some companies do daily, weekly, monthly or even yearly accounting. As long come the company’s financial year end, there is reasonable accuracy achieved in compiling accounts [...]
