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.
source:
http://meginugrahawa.blogspot.co.id/2015/11/peraturan-peraturan-tentang-pasar-modal.html
