JAKARTA (Yosefardi) – The Supreme Audit Board, also known as BKP, found the practices of financial engeneering on financial reports of state-owned enterprises (SoE), initiated by their public accountants.
Hasan Bisri, BPK chairman, said many state companies recorded a revenue on their financial report whereas the revenue was not made yet, just to make their financial performance look pretty or sound.
He said state companies are eager to get a bonus from their financial report while their public accountants could not find that kind of financial engeneering practices.
In 1998, all people in the country knew that all banks collapsed due to economic crisis, but state banks reported sound/good financial achievement.
Hasan said public accountants are proven to have missed some items (of financial report), such as assets on legal conflict status, from their audits.
BPK, according to Hasan, will recommend the license revoke for public accounts, which do not make a proper audit, to finance ministry.
State companies listed at stock exchange include Bank Rakyat Indonesia, Bank Negara Indonesia, Bank Mandiri, Semen Indonesia, Telekomunikasi Indonesia, Garuda Indonesia, and Kimia Farma.