The financial audit process involves having auditors evaluate the financial transactions and statements of oil and gas company. In general, an audit of the financial statements of an oil and gas company is the same as the phases of an audit of the financial statements of companies in other industries. A typical business financial audit … Read more
As stated by Lawrence M. Friedman, a law professor from the United States, the effectiveness and success of law enforcement are influenced by three important components, namely legal structure, legal substance, and legal culture. This serves as the basis for the government, which is currently working on a Draft Presidential Regulation related to Legal Compliance … Read more
In today’s evolving business landscape, sustainability has become a critical goal for industries, with green jobs emerging as a significant area of interest, particularly among the younger generation with advanced education. These environmentally friendly roles not only align with global sustainability goals but also reflect the growing demand for careers that contribute positively to the … Read more
Since its enactment in 2000, regulations on bank secrecy in Indonesia have undergone various changes in line with the dynamics of the financial sector. Initially, this provision was regulated in Bank Indonesia Regulation No. 2/19/PBI/2000 (“PBI 2/2000”), which affirmed the obligation of banks to maintain the confidentiality of customer information of their depositors and depositors, … Read more
EXPANSION OF THE SCOPE OF INVESTMENT FACILITIES FOR IKN BUSINESS ACTORS ON GR 29/2024 As a step towards realizing the Capital City of Nusantara (Ibu Kota Nusantara – “IKN”) as a sustainable global city, the government issued Regulation Number 12/2023 on the Issuance of Business Licenses, Ease of Doing Business and Investment Facilities for Business … Read more
The Information Technology (IT) environment within a company has significantly changed with advancements in information systems (system and software) and technological advancement of utilized hardware. Due to these circumstances, understanding IT General Controls (ITGC), also known as General IT Controls, has become crucial. Additionally, information security frameworks from international organizations standards (COSO, ISACA, ISO) have … Read more
In response to a judicial review of Law Number 6 of 2023 on the Enactment of Regulation of the Government in Lieu of Law Number 2 of 2022 on Job Creation into Law (“Law 6/2023), the Constitutional Court (“MK”) issued Decision Number 168/PUU-XII/2023 (“Decision 168/2023”) on December 1st, 2023, following a petition filed by a … Read more
A banking company is in an industry that is full of regulations and involves complex information technology in its business processes. Information technology is fundamental to banking business activities, improving customer experience and operational efficiency. The transformation of information technology and digital technology brings challenges in maintaining security, complying with regulations and managing risk. IT … Read more
In the ever-evolving digital era, Information Technology (IT) has become the backbone of operations in many industries, including banking. Modern banks rely on robust and reliable IT systems to support their operations, from basic transactions to complex data analytics. Therefore, it is crucial for banks to have strong controls over their IT infrastructure, and Information … Read more
Terminologically, the word cryptocurrency originates from two words, cryptography and currency. As reported by Investopedia.com, cryptocurrency is a digital currency based on cryptography within a distributed network among computers on a large scale. Cryptography is a security system that makes cryptocurrency safe from counterfeiting and double spending issues. Most cryptocurrencies are built using blockchain technology. … Read more
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