Indonesia
- Indonesia is included in the IFAD GAAP Convergence Studies
- National Professional Organisation Websites:
- Response to IFAC Member Body Survey on Standard Setting and Regulation
- World Bank ROSC Accounting and Auditing Report
- Participant in the Asian-Oceanian Standard-Setters Group (AOSSG)
Financial Reporting Framework in Indonesia
The standard-setting body in Indonesia is the Financial Accounting Standards Board (Dewan Standar Akuntansi Keuangan or DSAK) under the Indonesian Institute of Accountants (Ikatan Akuntan Indonesia or IAI). Under Indonesian law, both public and private companies must comply with accounting standards issued by the DSAK-IAI.
Up to 31 December 2008, DSAK-IAI has issued 62 Statements of Financial Accounting Standards (Pernyataan Standar Akuntansi Keuangan or PSAKs), which consist of 55 PSAKs for conventional transactions and 7 PSAKs for Syari'a transactions, 8 Interpretations of Financial Accounting Standards (Interpretasi Standar Akuntansi Keuangan or ISAK), and 3 Technical Bulletins.
On 23 December 2008, the IAI issued a formal statement announcing its plan to have Indonesian GAAP fully converged with the IFRSs by 1 January 2012.