TaxSavvyID

When a local PT must be audited

Our PT is growing. When do we need audited accounts?

The situation

Under UUPT Art 68, audit by a public accountant is required for companies with assets or turnover of at least IDR 50 billion, and for some types such as public fund or debt issuing companies.

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

What it means for you

Below the threshold, audit is optional unless a bank, investor or sector rule requires it. Many companies get audited earlier to support loans. If audit is required but not done, the GMS cannot properly approve the accounts.

What to do

  1. Check assets and turnover at year end.
  2. Appoint a public accountant if over IDR 50 billion.
  3. Plan the audit before the 6 month GMS limit.
  4. Attach audited accounts to the tax return.

Tax returns from unaudited required companies may face more scrutiny.

We can do this for youSetting up a local PT (PT PMDN): deed, Ministry of Law approval, NIB and NPWP: IDR 9.500.000

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