In today’s business environment, the financial statement audit is more critical than ever. With increased scrutiny and skepticism surrounding corporate financial reporting, investors are demanding greater reliability, oversight, and clear evidence of internal controls.
The purpose of a financial statement audit is to provide an opinion on whether the financial report, taken as a whole, accurately reflects the organization’s financial position at a given date. This includes assessing:
- Whether the balance sheets properly record the company’s assets and liabilities
- If profits or losses are accurately assessed
- Compliance with the Limited Liability Company Law (Law No. 40 of 2007), which requires an audit by a public accountant for companies that meet specific criteria — including total assets and/or annual turnover of at least Rp 50 billion, companies that collect or manage public funds, companies that issue debt instruments to the public, publicly listed companies, and state-owned companies
Corporate management, boards, audit committees, internal and external auditors, analysts, and other investment professionals all play crucial roles in rebuilding investor trust by fulfilling their respective responsibilities and considering both legal obligations and heightened investor expectations. Meeting these expectations starts with ensuring the completeness and accuracy of the information presented in a company’s financial statements.
Your company may require a financial statement audit if it is:
- A regulated entity, either by incorporation or as a result of securities registration for trading purposes or tender requirements, and must file audited financial statements
- A company whose total assets or annual turnover meets the statutory audit threshold under the Company Law
- A multi-national company in need of a consistent audit methodology for its financial statements
- Exploring the feasibility of changing audit firms
- Concerned that the current auditor lacks sufficient understanding of the company and industry to perform an effective audit
KAP Sigit Sunarno, a leading Indonesian audit firm, takes into account all current and prospective auditing, accounting, and reporting regulations and guidance when conducting financial statement audits. Our experienced team of auditors is well-versed in the complexities of Indonesian business regulations and provides a comprehensive, tailored approach to meet your company’s unique needs.
Our financial statement audit services include:
- Thorough examination of financial records, including balance sheets, income statements, and cash flow statements
- Assessment of internal controls and risk management processes
- Verification of compliance with relevant laws and regulations
- Identification of areas for improvement in financial reporting and internal controls
- Clear, concise communication of audit findings and recommendations to management and stakeholders
By choosing Okusi Associates for your financial statement audit, you can be confident that your company is receiving the highest quality service from a trusted and experienced audit firm. Our commitment to excellence, combined with our deep understanding of Indonesian business practices, ensures that your financial statements will meet the expectations of investors and regulatory bodies alike.
Don’t let concerns about the reliability of your financial statements hold your company back. Contact Okusi Associates today to learn more about how our financial statement audit services can help you build investor trust and achieve your business goals.
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