Govt. Rolls out One-Stop Financial Reporting Platform: Financial Report Access Opened to Diverse Stakeholders

In 2023, Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (“Law 4/2023”) mandated the submission of financial reports (“Reports”) by financial sector business actors (Pelaku Usaha Sektor Keuangan – “PUSK”) and parties that conduct business interactions with financial sector institutions (“Parties”), both of whom are the owners of the Reports (collectively referred to as “Reporting Entities”). Said Reports must be submitted through a one-stop platform, i.e. financial reporting single window (Platform Bersama Pelaporan Keuangan – “PBPK”) based on financial reporting standards (“Standards”) that are determined by a Standards Committee (“Committee”).