The purpose of this publication is to provide a roundup of the changes in the Indonesian financial reporting framework which are important to accounting professionals.

This publication includes a high-level overview of new and revised financial reporting requirements that need to be considered for the financial reporting periods ending 31 December 2021.

Sustainability reporting is an upcoming area of interest by investors and stakeholders. With the formation of a new International Sustainability Standards Board (ISSB) by the IFRS Foundation, a set of high-quality sustainability disclosure standards is expected to be available in the near future, which are expected to be adopted locally by the TF CCR IAI. As climate change is a priority area of focus, a discussion of the possible financial reporting impact of climate change under relevant PSAKs has been included for consideration.

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