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1973 Prinsip Akuntansi Indonesia (PAI) Indonesian Accounting Principles 1994 Standar Akuntansi Keuangan (SAK) Financial Accounting Standards 2008 A key milestone converging into IFRS → Indonesia expressed commitment to the G20-endorsed goal of a single set of global accounting standards 2012 Phase I of the IFRS convergence process finalized in 2012 → SAK as at 1 January 2012 has been substantially converged into IFRS as at 1 January 2009 (3- year gap)
Jo Journey of In Indonesia Accounting Standards
2015 Phase II of IFRS convergence → minimized to 1-year gap (SAK as at 1 January 2015 is substantially in line with IFRS effective 1 January 2014) 2016 Issued a joint statement with the IFRS Foundation & the Indonesian Financial Services Authority / Otoritas Jasa Keuangan (OJK) developed its plans to achieve full convergence with IFRS 2018 IFRS convergence journey continues, maintain the 1-year gap between SAK and IFRS (latest convergence is for SAK effective 1 January 2018) Now committed towards
- ur journey to
introduce a fully converged SAK (with IFRS), as part of Indonesia financial reporting framework