Global Standards for the world economy

Friday 14 August 2020

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Indonesia IFRS profile updated

 05 September 2014

We have modified the profile on use of IFRS in Indonesia to clarify in more detail Indonesia's approach to converging its national accounting standards (abbreviated SAK) with IFRS. Currently, SAK is substantially in line with IFRS as at 1 January 2009, but there are a number of differences and several IFRSs and IFRIC Interpretations do not have SAK equivalents. Indonesia is currently progressing with the second phase of the IFRS convergence process. The objective of this phase is to further minimise the gap between SAK and IFRS, with the goal of making SAK as at 1 January 2015 substantially in line with IFRS as at 1 January 2014, again with some exceptions.

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