Peraturan-peraturan tentang pasar modal yang berhubungan dengan indepedensi akuntansi publik
On February 28, 2011,
the Capital Market Supervisory Agency and Financial Institution (Bapepam-LK)
has issued rules on the independence of accountants who provide services in the
capital market, namely by Regulation No. VIII.A.2 annex the Chairman of Bapepam
Number: Kep -86 / BL / 2011 concerning Independence of Accountant Provide Services
in Capital Market.
As published in the Press Release of Bapepam LK on February 28,
2011, Rule No. VIII.A.2 is an improvement over the existing legislation and
aims to provide convenience for the Office of Public Accountant or Public
Accountant in providing professional services for the field duties. Here is his
decision:
DECISION
OF CHAIRMAN OF CAPITAL MARKET SUPERVISORY AGENCY
No.
KEP-20 / PM / 2002
ABOUT
INDEPENDENCE
THAT PROVIDE SERVICES ACCOUNTANT AUDIT
CAPITAL
MARKET
CHAIRMAN
OF CAPITAL MARKET SUPERVISORY AGENCY,
Considering:
a. that in order to meet the principles of
openness, the Issuer or Public Company must submit financial statements
prepared under generally accepted accounting principles;
b. that in order to improve the quality of
disclosure of financial statements of Public Company would require an opinion
or an independent and professional assessment of the Office of Public
Accounting and Accounting;
c. that in connection with the foregoing, it is
deemed necessary to stipulate a decree of the Chairman of Bapepam on the
Independence Accountant Provide Audit Services in Capital Market;
Given:
1. Law Number 8 of 1995 Concerning Capital Market
(Statute Book Year 1995 Number 64, Additional State Gazette No. 3608);
2. Government Regulation No. 45 Year 1995
concerning the activities Capital Market (Statute Book Year 1995 Number 86,
Additional State Gazette No. 3617);
3. Government Regulation Number 46 of 1995
concerning examination Capital Market (Statute Book Year 1995 Number 87,
Additional State Gazette No. 3618);
4. Decree of the President of the Republic of
Indonesia Number 7 / M of 2000;
5. Decree of the Minister of Finance of the
Republic of Indonesia No. 423 / KMK.06 / 2002 on Public Accountant Services;
To enact: DECISION OF CHAIRMAN OF CAPITAL MARKET
SUPERVISORY AGENCY OF THE INDEPENDENCE OF THE ACCOUNTANT JASAAUDIT MARKET
PROVIDES CAPITAL
article
1
Provisions concerning
Independence of Accountant Provide Audit Services in Capital Market, set in
Rule Number: VIII.A.2
as contained in the Appendix hereto.
Section
2
This decision comes
into force from the date of enactment.
RULE
NUMBER VIII.A.2
:
INDEPENDENCE OF ACCOUNTANT GIVING
AUDIT
SERVICES IN CAPITAL MARKET
1. Definition of terms
in this rule are:
a. Audit Period and
Professional Designation Period:
1) Audit Period is the period that covers the period of the
audited financial statements or that are reviewed; and
2) Professional Designation Period is the period of assignment
to audit or review the client’s financial statements or to prepare a report to
Bapepam.
b. Family Member is a
spouse, parent, child, both within and outside of dependents and siblings.
c. Contingent fee is a
fee that is set for the implementation of a professional services will only be
charged if no findings or specific results which the amount of the fee depends
on the specific findings or results. Fee considered contingent if established by
a court or regulatory body or in terms of taxation, if the basis of the
determination is the result of a legal settlement or the findings of regulatory
agencies.
d. People In Public
Accounting Firm are:
1) People are included in Team Assignment Audit is sema
colleagues, managers, and employees of professionals who participated in the
audit, review, or assignment attestation of clients, including those who do
study further or acting as companions to two during the Audit Period or
assignment attestation about technical issues or a specific industry,
transaction, or important events;
2) People are included in the chain of executive / commands that
all people:
a) supervise or have direct management responsibility for the
audit;
b) evaluate the performance or recommending compensation for the
fellow in the assignment of the audit; or
c) provide quality control or other control over the audit; or
3) Every other colleagues, managers, or other professional
employee of a public accounting firm that has been providing non-audit services
to clients.
e. Key employees are
those persons having authority and responsibility for planning, directing and
controlling the activities of the reporting enterprise, including commissioners,
members of the Board of Directors, and managers of the company.
2. Duration Period
Professional Designation:
a. Professional
Assignment period starting from the commencement of field work or the signing
of the assignment, whichever occurs first.
b. Professional
Assignment period ending on the date of the Accountant’s report or a written
notice by the accountant or the client to Bapepam that the assignment has been
completed, whichever is earlier.
3. In providing
professional services, especially in giving opinions or judgments, Accountant
must always maintain an independent attitude. The accountant is not independent
if during the Audit Period and during the Period of Professional Assignment,
good accountants, public accounting firm, as well as People In Public
Accounting Firm:
a. has a financial
interest, directly or indirectly material to clients, such as:
1) investments in the
client; or
2) Other financial
interest in the client that could give rise to a conflict of interest.
b. have an employment
relationship with clients, such as:
1) doubles as Key
Management Personnel on the client;
2) has a Family Member
who works on the client as Key Management Personnel in the field of accounting
and finance;
3) have a former
partner or professional employee of a public accounting firm that works on the
client as Key Management Personnel in the field of accounting and finance, but
after more than 1 (one) year working at a public accounting firm in question;
or
4) having a
professional colleague or employee of a public accounting firm who previously
worked on the client as Key Management Personnel in the field of accounting and
finance, except concerned does not participate in implementing the client’s
audit of the Audit Period.
c. has a business
relationship, directly or indirectly, a material with clients, or with key
employees who work on the client, or the client’s major shareholders. Business
relationship in this clause does not include the business relationship in terms
of accounting, public accounting firm, or People In public accounting firm
providing audit or non-audit services to the client, or are consumers of
client’s products or
services in order to support routine activities.
d. providing non-audit
services to clients such as:
1) bookkeeping or
other services related to the client’s accounting records;
2) or financial
statements;
3) financial
information systems design and implementation;
4) appraisal or
fairness opinion (fairness opinion);
5) actuarial;
6) internal audit;
7) management
consulting;
8) human resource
consulting;
9) tax advice;
10) Investment
Advisory and finance; or
11) any other services
that may pose a conflict of interest
e. provide services or
products to clients on the basis of Contingent Fee or commission, or receive
Contingent Fee or commission from the client.
4. Quality Control
System Public Accounting Firm must have quality control system with an adequate
level of confidence that the public accounting firm or its employees can maintain
an independent attitude taking into account the size and nature of the practice
of Public Accounting Firm.
5. Restrictions Audit
Assignment
a. The provision of
services of general audit of the client’s financial statements can only be done
by Public Accounting Firm
the longest for five
(5) consecutive fiscal year by an accountant and a maximum of three (3)
consecutive fiscal year.
b. Office of Public
Accountants and Accountants can receive audit back to the client after 3
(three) financial years in a row did not audit the client.
c. The provisions
referred to in paragraphs a and b above do not apply to interim financial
statements are audited for the sake of public offering.
6. Transitional
Provisions
a. Public accounting
firm that has been providing audit services common to 5 (five) financial years
in a row or more and still have audit engagements general for the financial
year subsequent to the financial statements the client, at the time of entry
into force of this regulation can only carry out the engagement is for 1 (one )
next fiscal year.
b. Accountant who has
provided audit services common to 3 (three) financial years in a row or more
and still have audit engagements general for the financial year subsequent to
the financial statements the client, at the time of entry into force of this
regulation can only carry out the engagement is for one (1) year The next book.
7. Without prejudice
to the criminal provisions in capital market, Bapepam authority to impose
sanctions against any violation of this rule, including the party that caused
the violation.
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