The legal limitations on the disclosure of audit information by a Public Accounting Firm (Kantor Akuntan Publik – “KAP”) to third parties, including administrators in Suspension of Debt Payment Obligations (Penundaan Kewajiban Pembayaran Utang – “PKPU”) proceedings or within the context of judicial examination, are governed by Law Number 5 of 2011 on Public Accountants (“Law 5/2011”) and Law Number 37 of 2004 on Bankruptcy and PKPU (“Bankruptcy Law”). Requests for audit information by external parties raise legal questions, particularly concerning the extent to which such information may be disclosed and the legal responsibilities attached to the KAP.
Legal Obligation of Confidentiality by Public Accounting Firms
Article 29 paragraph (1) of Law 5/2011 stipulates that Public Accountants and parties professionally associated with them are required to maintain the confidentiality of all information obtained from clients during the provision of services. This obligation applies regardless of the requesting party, including law enforcement officers, curators, PKPU administrators, or other third parties.
An exception to this obligation is provided under Article 29 paragraph (2) of Law 5/2011, which allows disclosure solely for supervisory purposes by the Minister of Finance. Furthermore, information may also be disclosed if officially ordered by a court. Requests from third parties—including attorneys, PKPU administrators, or curators—do not constitute a sufficient legal basis to demand the direct disclosure of information.
In practice, if there is a legitimate court order issued for the purpose of evidence or judicial proceedings, the principle of professional confidentiality may be set aside. Such an order must be official, in writing, issued by a competent judicial authority, and clearly specify the scope of the requested information.
Conversely, if a request for information is not accompanied by a court order or an explicit legal provision, the KAP remains bound by the principle of professional confidentiality. Disclosure under such conditions may be categorized as an administrative violation under Article 53 paragraph (2) letter b in conjunction with Article 53 paragraph (3) of Law 5/2011. Such violations may adversely affect the professional reputation and licensing of the concerned KAP.
Context of PKPU and Bankruptcy
The Bankruptcy Law does grant administrators or curators the authority to manage and settle bankrupt assets, as regulated under Articles 233 and 234. However, these provisions may not be interpreted as conferring access rights to professional documents belonging to third parties, such as audit reports issued by a KAP.
Audit documents prepared by a KAP do not constitute part of the debtor’s assets nor are they objects directly controlled by the administrator. Accordingly, if a PKPU administrator seeks access to such documents, it must be based on a specific legal provision granting access rights or obtained through a court order.
In addition to formal legal aspects, KAPs are also bound by the Code of Ethics of the Indonesian Institute of Accountants (Ikatan Akuntan Indonesia – “IAI”) and the Public Accountant Professional Standards (Standar Profesional Akuntan Publik – “SPAP”), both of which explicitly prohibit the disclosure of information without lawful authorization. Violations of these principles not only carry legal consequences but also risk undermining the integrity of the profession and eroding public trust in audit results.
A KAP is legally obliged to maintain the confidentiality of audit information obtained from clients and may only disclose such information if ordered by a court or for supervisory purposes by the Minister of Finance, as governed by prevailing laws and regulations. Requests from third parties, including PKPU administrators, do not constitute a lawful basis to override the obligation of confidentiality.
Disclosure of information outside the applicable legal provisions poses the risk of administrative sanctions and breaches of professional ethics. Therefore, for every audit information request, it is crucial to ensure the existence of a clear, specific, and lawful legal basis.
For legal assistance from SW Counselors at Law, please contact:
Fanny
T. (+6221) 2222-0200
E. fanny.fanny@shinewing.id
Bella
T. (+6221) 2222-0200
E. bella.siboro@shinewing.id
