"Public Accountants
&
Public Accounting Firm"
Definition of Certified Public Accountants
Public accountant is an accountant who has obtained permission from the finance minister to provide public accounting services in Indonesia. The provisions concerning public accountant in Indonesia is set in the Minister of Finance Number 17/PMK.01/2008 about Services Public Accountants. Every public accountant shall be a member of the Indonesian Institute of Certified Public Accountants (Certified), professional associations recognized by the Government.
Alvis and james defines public accountant as follows:
Public accountant is an independent auditor who conducted the process of collecting and evaluating evidence from the information measured from a single economic entity for the purpose of considering and reporting on compliance levels of the measured information with the criteria established on the financial statements of companies that go public as well as other large companies.
While Carmichael and Willingham defines:
Public accountant is someone who gets permission from the local state to berprarktek, who offers his services to the public to examine the financial statements (1989, 3).
Permitten of Public Accountant
Permit public accountant issued by the Minister of Finance. Accountants who apply to become public accountants must meet the following requirements:
a. It has a number of State Register for Accountants.
b. Certificate has passed swab held by IAPI.
c. If the graduation date has passed Wipe 2-year period, it must submit evidence of having followed the Continuing Professional Education (PPL) at least 60 Units of Credit PPL (SKP) in the last 2 years.
d. Experienced general practice in auditing the financial statements at least 1,000 hours in the last 5 years and at least 500 hours of which lead and / or supervise the general audit engagement, which was passed by the Leader / Co Leader KAP.
e. Domiciled in the territory of the Republic of Indonesia as evidenced by the Identity Card (KTP) or other evidence.
f. Having a Taxpayer Identification Number (NPWP).
g. There was never penalized public accountant license revocation.
h. Make Application, complete the Application form Permit Public Accountants, to make a statement not concurrent position
As referred to in Article 46, and make sufficient stamp duty waiver stating that the data submitted is correct requirements.
Responsibilities of Certified Public Accountants
1. Statement Auditing Standards
Some Statements on Auditing Standards (SAS) issued by the Auditing Standards Board (ASB) in the United States is quite important are:
a. SAS No. 53 regarding "The Auditor's Responsibility to Detect and Report Errors and Irregularities," which set the auditors responsibility to detect and report an error and irregularities.
b. SAS No. 55 on "Consideration of Internal Control in a Financial Statement Audit," which transforms the responsibility of auditors regarding internal controls. This new statement called for the auditor to design an understanding of internal control procedures in planning the audit. SAS No. 55 was amended by SAS No. issued. 78 in 1997, by stating the re-definition of internal control to include two components, namely the environment control and risk assessment which is the proposal of the Treadway Commission.
c. SAS No. 61 regulates the communication between the company auditors with audit committees. Auditors should communicate with the audit committee of several audit findings are important, such as accounting policies a significant company, judgments, accounting estimates, and disagreement with the auditor's management.
d. SAS No. 82 "Consideration of Fraud in a Financial Statement Audit" ASB issued in February 1997. SAS no. 82 states that auditors should be responsible for detecting and reporting fraud that occurred in the financial statements prepared by management. Selaij it, SAS no. 82 also states that each audit the auditor should assess the risk may exist a material misstatement in financial statements caused by fraud.
e. SAS No. 99 "Consideration of Fraud in a Financial Statement Audit" is a revision of SAS No. 82 and entered into force effective for audits of financial statements after the date of December 15, 2002, early adoption is encouraged. The auditor is responsible to plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement, whether caused by mistakes or fraud.
Effect of SAS No. 99 auditors' responsibilities include:
§ There are no changes to the auditor's responsibility to detect fraud on the financial statement audit.
§ There are no changes to the auditor's obligation to communicate the findings of fraud.
§ There are material changes to audit procedures and documentation that must be performed by auditors on the financial statement audit.
Two types of misstatements that are relevant to the auditor's responsibility, namely misstatements resulting from fraudulent financial reporting and misstatements resulting from misuse of assets. SAS No. 99 also confirmed for independent auditors to have integrity and using professional skills through a critical assessment of audit evidence is collected.
f. SAS No. 110 "Fraud & Error" stated that the auditor should be able to detect against material errors in the financial statements caused by fraud or error. SAS 110, paragraph 14 & 18 reads as follows. :
"Auditors plan, perform and evaluate Their audit work in order to have a reasonable expectation of detecting material misstatements in the financial statements arising from errors or fraud. However, an audit can not be expected to detect all errors or instances of fraudulent or dishonest conduct. The likelihood of detecting errors is higher Than That of detecting fraud, since fraud is usually accompanied by acts specifically Designed to conceal its existence ... "
2. Public Accountants Professional Standards (SPAP)
Profession of public accountants has huge responsibility in carrying out the trust given to him by the community. There are 3 the liability of public accountants in carrying out the work are:
a. Moral responsibility.
Public accountants should have a moral responsibility to:
§ Give complete and truthful information about the company being audited to the authorities yng aforementioned information, although there is no sanction against their actions.
§ Make wise decisions and objective with professional care.
b. Professional Responsibility
Public accountants should have a professional responsibility to rules of professional conduct.
c. Legal responsibility
Public accountants should have a responsibility beyond the limits of the professional standard that is related to the legal responsibilities. Standart Professional Certified Public Accountants (SPAP) issued by the Indonesian Institute of Accountants (IAI) in the Auditing Standards Section 110, set the "Responsibilities and Functions of Independent Auditors ".
Public Accounting Services
Professional Services Public Accountants profession produces various kinds of services for the community, which can divided into three groups: assurance services, attestation services and non-assurance services.
a. Assurance Services
Assurance Services is an independent professional services that improve the quality of information for decision-makers. Jasaassurance is better known as audit services
b. Attestation Services
One type of assurance service provided by the public accounting profession is attestation services. Or attestation is a statement of opinion or considerations that are independent and competent person as to whether an entity's assertions as, in some material respects, with the specified criteria.
Services astestasi public accounting profession can be further divided into 4 types:
§ Audit
§ Inspection
§ Review
§ Prosedur agreed
c. Non-assurance Services
Non-assurance services are the services produced by a public accountant in which he did not give an opinion, negative beliefs, a summary of findings, or other forms of belief. Type non-assurance generated if the public accountant is a compilation services, tax services, consulting services.
Consulting services provided in the Consulting Services Standards. Consulting services can include the following services:
§ Konsultation (Consultations)
§ Jasa professional advisory (advisory service)
§ Implementation Services
§ Transaction Services
§ Jasa provision of staff and other support services
§ Product Services
Understanding PAF
Public Accounting Firm (PAF) is a business entity incorporated under the laws of Indonesia and has obtained a license under the provisions of this Act, as a container for Public Accountant in providing services;
Establishment and Management PAF
a. Individual Firm
§ Established and administered by a public accountant who acted as Leaders PAF;
§ Employees PAF all citizens, except for areas of expertise not possessed by citizens in accordance with prevailing laws and regulations. The substance of the draft Law of Certified Public Accountants
b. PAF Guild
§ Established and managed by two (2) Certified Public Accountants or more and at least two
§ thirds of all allies are Certified Public Accountants;
§ Composition KAP ally at least 75% are citizens;
§ leaders must accounting firm of Certified Public Accountants;
§ Employees KAP all citizens, except for areas of expertise not possessed
§ by citizens in accordance with prevailing laws and regulations.
Licensing PAF
a. The Minister gave a business license and permit opening of branches KAP KAP;
b. Application for permit administration fee which is the State Revenue.
KAP Licensing Requirements
a. Copy of the relevant license PA;
b. Proof of residency and fellow peer leaders PAF;
c. Having offices isolated from other activities;
d. Having NPWP PAF;
e. Has the design of Quality Control System;
f. Has a permanent inspection staff;
For KAP-shaped communion plus:
g. Establishment of PAF notary deed containing at least:
§ Clause joint responsibility;
§ The parties who perform the partnership;
§ Address of the allies;
§ The form of the partnership;
§ The name and domicile of the PAF;
§ The rights and obligations of each partner;
§ Settlement of disputes in the event of a dispute;
§ Procedure for appointment of Fellow Leaders;
§ The Allies are entitled to hold the engagement, for and on behalf of the firm, with third parties relating to the services provided.
Naming PAF
a. PAF name using the name of the AP in question;
b. In the event that there is mutual recognition with other countries, then the name of the PAF to use the name of PAFA.
Liability PAF
a. Free from fraud, dishonesty and negligence;
b. Maintain confidentiality of information;
c. Maintaining a Working Paper for 10 years;
d. Running a Quality Control System (MSS);
e. Having a professional staff of examiners;
f. Having TIN;
g. Having offices isolated from other activities;
h. Organize and maintain records of working hours;
References:
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