Home » Insights » Assurance

Audit Development of the Financial Statements of Infrastructure Companies

Infrastructure is defined as the basic facilities, whether physical or social, of a particular community or area needed for community or organizational activities. In this article, infrastructure includes roads and railroads, airports, wharves, ports and irrigation canals; as well as infrastructure related to public utility functions, such as the availability of clean water along with … Read more

Audit of Agriculture Companies

Agriculture in Indonesia is one of the key sectors within the Indonesia economy. Currently, approximately 30% (thirty percent) of Indonesia’s land area is used for agriculture. The agricultural sector of Indonesia consists of large plantations, either owned by state or private companies and small holder production modes, mostly family owned and run by traditional agricultural … Read more

Auditing Derivative Instruments

Increasing in the number and use of complex derivative instruments and securities, coupled with the sometimes equally complex accounting guidance, have resulted in changes in the approaches to auditing the financial statements of many entities. For example, evaluating audit evidence related to assertions about derivative instruments frequently requires the use of considerable judgment, particularly for … Read more

Key Audit Matters

–INSERT IMAGE– The Indonesian Institute of Certified Public Accountants (IAPI) has established and ratified Auditing Standard (SA) 701 (2021) regarding “Communicating Key Audit Matters in Independent Auditors’ Reports.” The SA is effective for audits of financial statements for periods beginning on or after January 1, 2022. The purpose of communicating Key Audit Matters is to … Read more

LAST CALL: Debitor’s Audited Financial Statements to the Bank

30th of June is often the deadline for submitting the Audited Financial Statements of the companies that have bank loans in Indonesia. Although there are no written and uniform rules, SW Indonesia has bank debtor clients who are directed to this deadline. Banks use Audited Financial Statements as a source of information related to credit … Read more

What is the Connection of Key Audit Matters to Financial Statement Transparency?

Transparency of financial statements, especially for public entities, is very important for its users. The financial statements are not only used to assess the financial performance and cash flows of the entity within a certain period of time, but are also used as considerations in making strategic decisions for its users. International Standards on Auditing … Read more