Government (Ministry of Finance) mulls a sanction for accounting giant Deloitte Indonesia for its role in the default of PT Sunprima Nusantara Financing (SNP Finance)’s medium-term note. The investigation of the case had finished and the ministry has submitted a list of findings and is currently waiting for Deloitte Indonesia responses.
There are several findings highlighted after the investigation. First, regarding auditor skepticism and understanding of the financial recording system used by the SNP Finance. Second, Deloitte Indonesia is accused of failing to look thoroughly at the SNP Finance’s financial documents as the latter has been a client for quite a while.
Financial Services Authority (OJK) will impose sanctions against Deloitte Indonesia if the MoF has concluded the violation and has imposed a sanction on the public accountant. The sanction imposed can be a written warning, fines, registration freezing until the cancellation of public accountant license.