Procedures for Utilization of AP/KAP by Financial Services Parties Updated: Scope of Specific Audits Now Adjusted

In 2017, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued Circular  No. 36/SEOJK.03/2017 on Procedures for the Utilization of Services Offered by Public Accountants and Public Accountants’ Offices in Relation to Financial Services Activities (“Circular 36/2017”) which, as its title suggests, details various provisions and prerequisites that apply to parties operating within the financial services, capital market and/or non-banking sectors that fall under the jurisdiction of the OJK (collectively referred to as “Parties”) whenever they utilize the services of public accountants (Akuntan Publik – “AP”) and/or public-accounting firms (Kantor Akuntan Publik – “KAP”).[1]