Audit requirement for financial statements
Laporan keuangan PT kami harus diaudit?
The situation
Company law requires audit for companies with assets or turnover of at least IDR 50 billion and certain types. Tax law does not set a general audit duty.
The law
- Art 66 to 68, Law 40/2007 on Limited Liability Companies (UUPT), as amended by Law 6/2023: Directors give the annual report to the GMS within 6 months of year end; an audit by a public accountant is required for public fund companies, debt issuers, public companies, state companies and companies with assets or turnover of at least IDR 50 billion
- Art 28, Law 6/1983 on General Provisions and Tax Procedures (KUP Law), as last amended by Law 6/2023: Businesses and companies must keep books in Indonesia, in Indonesian and in rupiah unless permitted otherwise; small individuals may keep records instead
What it means for you
Even if not required, audited accounts help with banks and tax reviews. If required but not done, the accounts cannot be properly approved. Example: assets IDR 60 billion means audit by a public accountant.
What to do
- Check assets and turnover.
- Appoint a public accountant if over the threshold.
- Attach audited accounts to the return.
- Plan audit timing.
Some sector rules require audit below the threshold.
We can do this for youCorporate annual income tax return (SPT Tahunan PPh Badan): fiscal adjustments, Art 31E, instalments and financial statements: IDR 7.500.000