Auditing of local financials. If so, must the auditor be located in local jurisdiction, and must the company's books be kept locally?
Indonesia
Limited liability company
According to the Indonesian Company Law, a company’s financial reports must be audited if:
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The company’s business activities are related to the collection and/or management of public funds.
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The company issues promissory notes to the public.
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The company is a publicly listed company (Perseroan Terbuka).
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The company is a state-owned company (Persero).
- The value of the company's assets and/or total business turnover is at least IDR50 billion or
- It is required under the prevailing laws and regulations.
The auditor or public accountant must be local and have a license issued by the Ministry of Finance as a public accountant, and in some cases, must be registered with the relevant government institutions. The company’s books are usually kept in the company’s premises.
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