Regulatory AlertsProcedures for the Use of Public Accountants and Public Accounting Firms in Financial Services Activities
The Financial Services Authority (OJK) issued Circular Letter No. 18/SEOJK.03/2023 to establish detailed implementation procedures for using Public Accountants and Public Accounting Firms in financial services, following POJK No. 9 of 2023. The regulation defines the audit scope for entities such as banks, investment managers, and insurance companies, while mandating professional education, independence conditions, and specific reporting formats for violations and administrative management. This circular officially revokes the previous OJK Circular Letter No. 36/SEOJK.03/2017 regarding the same subject matter.
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