OJK Updates Provisions on the Preparation of Financial Statements by Securities Companies

The convergence of the National Financial Reporting Standards (Pernyataan Standar Akuntansi Keuangan/PSAK) with the second phase of the International Financial Reporting Standards has significantly impacted the prevailing Accounting Guidelines for Securities Companies (Pedoman Akuntansi Perusahaan Efek), which are now deemed to be irrelevant and inflexible in relation to the dynamic development of Financial Accounting Standards (Standar Akuntansi Keuangan– “ SAK ”). [1]