Audit Services for PT PMA Indonesia
Complete guide to financial audit requirements for foreign-owned companies in Indonesia. Learn about statutory audit obligations, preparation steps, and how to choose the right auditor for your PT PMA.
Get Audit SupportAudit Requirements
When is Audit Required?
Companies meeting any of these criteria must have audited financial statements
Public Interest Entity
Listed companies, banks, insurance, pension funds
Mandatory Annual AuditTotal Assets > IDR 50 Billion
Companies with significant assets
Mandatory Annual AuditDebt Securities Issuer
Companies issuing bonds or debt instruments
Mandatory Annual AuditPT PMA (Foreign-Owned)
All foreign investment companies
Recommended for LKPMTypes of Audit
Different audit types serve different purposes
Statutory Audit
Annual audit required by Indonesian Company Law for certain companies
- Audit opinion
- Audited financial statements
- Management letter
Tax Audit
Audit initiated by tax authorities to verify tax compliance
- Tax audit findings
- Assessment notice
- Payment requirements
Special Purpose Audit
Audit for specific purposes like M&A due diligence or loan requirements
- Special purpose report
- Specific procedures findings
Internal Audit
Assessment of internal controls and operational efficiency
- Internal audit report
- Control recommendations
Preparing for Your Audit
Steps to ensure a smooth and efficient audit process
Organize Financial Records
- General ledger
- Bank statements
- Invoices and receipts
- Contracts and agreements
Prepare Trial Balance
- Account reconciliations
- Adjusting entries
- Month-end close procedures
Gather Supporting Documents
- Fixed asset register
- Inventory records
- Accounts receivable aging
- Accounts payable listing
Compile Required Schedules
- Related party transactions
- Tax computations
- Loan agreements
- Shareholder information
Typical Audit Timeline
What to expect during the audit process
| Phase | Duration | Activities |
|---|---|---|
| Planning | 2-4 weeks | Engagement letter, risk assessment, audit plan development |
| Interim Audit | 1-2 weeks | Internal controls testing, preliminary substantive procedures |
| Year-End Audit | 2-4 weeks | Substantive testing, balance confirmation, final procedures |
| Completion | 1-2 weeks | Audit opinion, management letter, financial statement issuance |
Choosing the Right Auditor
Key factors to consider when selecting an audit firm
Registration with OJK
Ensure the audit firm is registered with Indonesia's Financial Services Authority
Mandatory for statutory auditsIndustry Experience
Look for auditors with experience in your specific industry sector
Better understanding of risksPT PMA Experience
Choose auditors familiar with foreign investment company requirements
Smoother audit processFee Structure
Understand the fee basis - fixed fee vs. hourly rates and any additional charges
Budget planningCommunication
Assess their English capability if needed and communication responsiveness
Efficient collaborationOJK Registration Required
Only public accounting firms (KAP) registered with Indonesia's Financial Services Authority (OJK) can issue statutory audit opinions. International audit networks operate through their local Indonesian member firms. Verify registration before engagement.
Our Audit Support Services
How we help PT PMA companies prepare for and navigate the audit process
Audit Preparation Support
We help prepare your books and records to ensure a smooth audit process
Auditor Liaison
We coordinate with your auditors and provide requested documentation
Financial Statement Preparation
We prepare SAK-compliant financial statements ready for audit
Post-Audit Support
We help implement recommendations from the audit management letter
Related Services
Other accounting services for your PT PMA
Frequently Asked Questions
Common questions about financial audit in Indonesia
Does my PT PMA need an annual audit?
While not all PT PMAs are legally required to have an annual audit, it is strongly recommended. Companies with total assets exceeding IDR 50 billion, public interest entities (banks, insurers, securities issuers), and SOEs are required to have audited financial statements. Additionally, banks and investors often require audited statements for loan applications or investment decisions.
When should the annual audit be completed?
Audited financial statements must be completed within 6 months after the fiscal year end. For companies with a calendar year fiscal period (January-December), this means the audit should be completed by June 30th of the following year.
How much does a PT PMA audit cost?
Audit fees in Indonesia vary significantly based on company size, complexity, and the audit firm chosen. Small to medium PT PMA companies typically pay between IDR 50-150 million for a statutory audit. Larger companies or those with complex operations may pay more.
What accounting standards apply in Indonesia?
Indonesian Financial Accounting Standards (SAK - Standar Akuntansi Keuangan) apply to most companies. SAK is largely converged with International Financial Reporting Standards (IFRS). Small and medium entities may use SAK EMKM (simplified standards).
Can foreign audit firms audit my PT PMA?
Only Indonesian-registered public accounting firms (KAP - Kantor Akuntan Publik) can issue statutory audit opinions in Indonesia. International audit networks typically operate through local member firms. Ensure your chosen firm is registered with OJK.
What documents do auditors typically request?
Auditors typically request: general ledger, trial balance, bank statements and reconciliations, fixed asset register, inventory records, accounts receivable/payable aging, contracts, tax filings, corporate documents, and related party transaction details.
Need Help Preparing for Your Audit?
Our experienced team can help prepare your financial records, liaise with your auditors, and ensure a smooth audit process for your PT PMA.
Get Audit Support