Regulatory AlertsImplementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks
The Financial Services Authority (OJK) issued Circular Letter 9/SEOJK.03/2025 to implement governance standards for Rural Banks (BPR) and Sharia Rural Banks (BPRS) by mandating the establishment of internal audit functions. This regulation requires BPRs and BPRSs to develop internal audit guidelines tailored to their operational complexity and submit specific implementation and audit result reports. The circular supersedes previous 2016 and 2019 circulars regarding rural bank internal audit standards and took effect on May 26, 2025.
Regulation /
Search Regulation / Implementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks
Sector: Banking
Sub-Sector: BPR; BPRS
Regulation Type: OJK Circular Letter
Regulation Number: 9/SEOJK.03/2025
Effective Date: 5/26/2025
Attachment 1 SEOJK 9-SEOJK03-2025 Implementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks.pdf Abstract SEOJK 9-SEOJK03-2025 Implementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks.pdf FAQ SEOJK 9-SEOJK03-2025 Implementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks.pdf
Page Content Otoritas Jasa Keuangan Circular Letter 9/SEOJK.03/2025 regarding Implementation of Internal Audit Functions for Rural Banks and Sharia Rural Banks
Abstract: This Otoritas Jasa Keuangan Circular Letter is an implementing regulation of POJK Number 9 of 2024 regarding the Implementation of Governance for Rural Banks and Sharia Rural Banks, as well as POJK Number 25 of 2024 regarding the Implementation of Sharia Governance for Sharia Rural Banks.
The legal basis for this Otoritas Jasa Keuangan Circular Letter is: Law No. 7 of 1992 as amended several times, most recently by Law No. 4 of 2023; Law No. 21 of 2011 as amended by Law No. 4 of 2023; POJK No. 9 of 2024; and POJK No. 25 of 2024.
This Otoritas Jasa Keuangan Circular Letter regulates the explanation of the implementation of internal audit functions at BPR and Sharia BPRs, including general internal audit policies, internal audit function organizational structure, internal audit implementation, and reporting on the implementation of internal audit functions.
Notes: This Otoritas Jasa Keuangan Circular Letter takes effect on the date it was established. This Otoritas Jasa Keuangan Circular Letter was established on May 26, 2025. Upon the effectiveness of this Otoritas Jasa Keuangan Circular Letter: a) Otoritas Jasa Keuangan Circular Letter Number 7/SEOJK.03/2016 regarding Standards for the Implementation of Internal Audit Functions for Rural Banks; and b) Otoritas Jasa Keuangan Circular Letter Number 12/SEOJK.03/2019 regarding the Implementation of Internal Audit Functions for Sharia Financing Banks, are revoked and declared invalid.
BPR and Sharia BPRs compile and develop guidelines for the implementation of internal audit functions in accordance with the needs and complexity of their business operations, strategies, and the vision and mission of each BPR and Sharia BPR, by referring to the guidelines for the implementation of internal audit functions as contained in Attachment I, which is an integral part of this Otoritas Jasa Keuangan Circular Letter.
BPR and Sharia BPRs compile the Internal Audit Implementation Report and Key Audit Findings referring to Attachment II, which is an integral part of this Otoritas Jasa Keuangan Circular Letter.