Indonesia ROSC Accounting and Auditing Workshop

Description
Reports on the Observance of Standards and Codes (ROSC) is a joint World Bank and International Monetary Fund (IMF) initiative that helps member countries strengthen their financial systems by improving compliance with internationally recognized standards and codes. The ROSC was developed in the wake of the financial crisis of the late 1990s as part of a series of measures to strengthen the international financial architecture. The global financial community considered that the implementation of internationally recognized standards and codes would provide a framework to strengthen domestic institutions, identify potential vulnerabilities, and improve transparency. Ultimately the ROSC aims to enhance countries’ resilience to shocks and to better support their risk assessment and investment decisions. The ROSC involves preparation of reports in 12 key areas.  The ROSC Accounting and Auditing focuses on accounting and auditing standards and practices in the corporate sector, as well as the institutional framework that underpins the corporate financial reporting system in the country.

The Indonesia ROSC Accounting and Auditing was undertaken as a part of Financial Sector Assessment Program (FSAP) and is an update of Indonesia Accounting and Audit ROSC of 2005. 

The Indonesia ROSC Accounting and Auditing was prepared in active collaboration with the Indonesian Institute of Accountants, Indonesian Institute of Public Accountants, Indonesia Capital Market and Financial Institution Supervisory Agency (Bapepam-LK), the Bank Indonesia, Center for Supervision of Accountants and Appraiser Services of Ministry of Finance, Indonesian Chamber of Commerce, Indonesia Stock Exchange, and accounting and auditing professionals.

The purpose of this workshop is to present main policy recommendations and agree on the way forward including the issuing of the Country Action Plan CAP) to further enhance Corporate financial reporting.

Speakers

1. Ms. Nurhaida (Chairman of Bapepam-LK)
2. Mr. Stefan Koeberle (Country Director of World Bank, Indonesia)
3. Ms. Samia Msadek (EAPFM Regional Manager, World Bank)
4. Ms. Etty Retno Wulandari (Head of Bureau of Accounting and Disclosure Standard, Bapepam-LK)