Control of public auditors tightened<\/p>\n
JAKARTA (JP): The Capital Market Supervisory Agency (Bapepam)
\nwill tighten its control of public accountants by blacklisting
\nthe errant ones, Bapepam's chairman, I Putu Gede Ary Suta, said
\nyesterday.<\/p>\n
At the signing of a memorandum of understanding between the
\nJakarta Stock Exchange (JSX) and the Indonesian Accountants
\nAssociation, Putu said that accountants play a crucial role in
\nmaintaining the public's trust in the capital market.<\/p>\n
"Public accountants must realize that they play a key role in
\ncreating market integrity because any product they make will
\nbecome an important reference for the investing public," Putu
\nnoted.<\/p>\n
He suggested that the association establish a special
\ncommission to review financial reports of publicly listed
\ncompanies audited by its members.<\/p>\n
"By reviewing the reports, the association could help boost
\nmarket integrity, which in turn will increase the investing
\npublic's confidence," he said.<\/p>\n
Realizing the strategic position of public accountants, Putu
\nsaid Bapepam will carefully monitor their activities and
\nblacklist accountants who violate the accounting standard in the
\ncapital market.<\/p>\n
There are 103 public accountants registered with Bapepam.<\/p>\n
JSX's president, Hasan Zein Mahmud, and the association's
\nchairman Soedaryono, who both signed the agreement, shared Putu's
\nopinion.<\/p>\n
Hasan stressed that accountants must improve their expertise
\nand personal integrity, in line with the improvement of the
\ncapital market.<\/p>\n
Under the agreement, JSX and the association agreed to
\nimprove the participation of accountants in developing capital
\nmarket integrity. Accountants will keep themselves apprised of
\nmarket developments, such as scripless and remote trading, which
\nmeans they will provide more accurate and valid information. (08)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/control-of-public-auditors-tightened-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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