HEHENDRAWANTOAUDIT, ACCOUNTING & TAX

SERVICES · AUDIT

Financial Statement Audit by a Certified Public Accountant

Independent audits of financial statements that provide reasonable assurance to shareholders, creditors, regulators, and other stakeholders. Performed through KAP Sutrisno Hendrawanto Sukardi & Rekan (KAP SHS).

What Is a Financial Statement Audit

A financial statement audit is an independent examination performed by a Public Accountant to express an opinion on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework, such as Indonesian SAK, SAK for Private Entities (SAK EP), SAK EMKM, or Government Accounting Standards. Audits are conducted in accordance with the Standards on Auditing (SA) issued by the Indonesian Institute of Certified Public Accountants (IAPI).

In Indonesia, audit services on historical financial information may only be provided by a Public Accountant through a Public Accounting Firm (KAP), as regulated by Law No. 5 of 2011 on Public Accountants. Accordingly, I perform all audit engagements through KAP SHS.

Who Needs an Audit

  • Limited liability companies required by law, their articles of association, or at the request of shareholders.
  • State-/region-owned enterprises (BUMN/BUMD), including regional water utilities (Perumda/PDAM), regional investment companies, and regional credit guarantee companies.
  • Public service agencies (BLU/BLUD) and PTNBH, such as regional hospitals, universities, and public service units.
  • Foundations, cooperatives, and BPRs that require audited financial statements for regulators, donors, or members.
  • Companies applying for credit, participating in tenders, or preparing investment transactions.

Audit Engagement Stages

  1. Initial discussion and client acceptance. Understanding needs, the period, and the reporting framework, and evaluating independence and potential conflicts of interest.
  2. Audit planning. Understanding the business and internal controls, setting materiality, and assessing the risk of material misstatement.
  3. Performing audit procedures. Tests of controls, analytical procedures, confirmations, observation, and substantive testing of balances and transactions.
  4. Communicating findings. Discussing adjustments, control deficiencies, and other significant matters with management and those charged with governance.
  5. Independent auditor's report. Issuance of the opinion along with a management letter where necessary.

Experience

Since 2007, I have been involved in audits of local and multinational private companies, state-/region-owned enterprises (BUMN/BUMD), public service agencies (BLU/BLUD), and examinations of local government financial statements on behalf of BPK RI. More than 95 entities have been audited across the hospitality, aviation, transportation, manufacturing, energy, construction, healthcare, education, and financial sectors.

Frequently Asked Questions

How long does a financial statement audit take?

It depends on the size of the entity, data readiness, and transaction complexity. For a mid-sized entity with orderly bookkeeping, fieldwork generally takes a few weeks. The exact schedule is agreed in the engagement letter.

What documents need to be prepared?

Financial statements or trial balance, general ledger, bank statements, fixed asset register, receivables and payables details, key contracts, deeds and licenses, and the prior year's audit report, if any.

How are audit fees determined?

Fees are set based on estimated team hours according to scope, risk, and complexity, taking professional requirements into account. You can request a proposal and fee estimate through the Proposal page.