External Audit & Review
Overview
Business Hub Asia provides comprehensive evaluations of financial statements and ensures compliance with applicable accounting standards and regulations in Indonesia for enterprises and businesses. Professional auditors conduct external audits to ensure the transparency, accuracy, and credibility of corporate financial statements.
Key Features
Financial Audit
Independent examination of the company's annual financial statements following PSAK standards and Indonesian tax regulations.
Compliance Audit
Assess the company's compliance with tax regulations, company law, and other industry regulations.
Special Purpose Audit
Audits based on special requests such as project audits, CSR fund audits, audits for merger & acquisition processes, and others.
Audit for Investor & Bank Needs
Independent audits to support funding processes, credit applications, or the entry of strategic investors.
Review & Limited Assurance Service
A complete audit alternative with limited procedures, but still provides an overview of the fairness of the financial statements.
Minimum Requirements
Business Legality
Complete business legality (NIB, NPWP, Deed of Establishment, SK Kemenkumham)
Financial Records
Financial statements and ledgers (GL), journals, and transaction data during the audited period
Supporting Documents
Supporting documents such as invoices, bank statements, contracts, and proof of transactions
Asset & Liability Info
List of assets, payables, receivables, and inventory (if relevant)
Business Entities that Require Audits & Reviews
This service applies to all business sectors, but some business entities are required by law in Indonesia, according to the Limited Liability Company Law (UUPT), including:
Public Company
Companies with Large Assets or Turnover above IDR 50 billion
Companies that Collect Public Funds
State-Owned Company (BUMN)
Institutions or entities utilizing the State (APBN) or Regional Budgets (APBD)
Savings and loan cooperative
Process and Timeline
1
Engagement, Acceptance & Audit Planning
Auditor-client discussions establish audit needs, scope, and objectives. An audit plan is then prepared based on understanding the client’s business, including risk identification and audit strategy determination. Estimated Time: 3-5 working days.
2
Gathering Audit Evidence
Perform testing and verification of transactions and account balances to obtain sufficient and accurate audit evidence. Estimated Time: 5-7 business days.
3
Evaluation and Analysis
Analyze test results to assess the reasonableness of the financial statement presentation and identify areas that require special attention. Estimated Time: 2-3 working days
4
Preparation of Audit Report
Prepare an audit report that includes the auditor’s opinion on the fairness of the financial statements and an explanation of other audit findings. Estimated Time: 2-3 working days.
5
Presentation and Discussion of Audit Results
Present the audit results to management and/or the board of directors, and discuss recommendations for improvement if necessary. Estimated Time: 1-2 working days.
*The audit and review process is estimated to take 2-3 weeks.
Important Consideration
- A team of certified and experienced professionals executes audits.
- Audit reports can be used for internal purposes, investors, regulators, and third parties (banks, shareholders, etc.).
- An annual financial audit is an important requirement for companies that want to go public, apply for credit, or attract investors.
- The audit process maintains the principles of confidentiality and independence following the ethical standards of the auditor profession.
Frequently Asked Questions
Is a company audit mandatory every year?
Annual financial audits are mandatory for listed companies, PMA companies, and companies that have reached a certain scale. For other companies, it is highly recommended to maintain credibility.
Is this audit service only for large companies?
No, it is not. We serve companies of various scales, ranging from MSMEs to large corporations.
Do I have to prepare physical documents?
Yes. You can provide digital documents, but we still need to verify the source documents.
What is the difference between an audit and a financial statement review?
An audit provides a full opinion on the fairness of the financial statements, whereas a review is limited and only provides moderate assurance.
Can audit results be used for bank loan applications?
Yes, independent audit reports are very helpful in the loan or funding application process.
Will I receive recommendations after the audit?
Yes, we also include a management letter with audit findings and suggested improvements to the company’s financial governance.
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