Bank Indonesia has implemented KAKBI as the accounting standards for the preparation and presentation of financial statements, as regulated by the Board of Governors Regulation. KAKBI consists of two main components: the Fundamental Principles for the Preparation and Presentation of Financial Statements (PDP2LK) and the Financial Accounting Policy Statements of Bank Indonesia (PKAK-BI).
The development of these accounting standards for Bank Indonesia, initiated in 2008, starting with discussion forums involving practitioners and academics to address the unique characteristics of Bank Indonesia and determine appropriate accounting standards that could be used as a reference. From various discussions and studies, it was concluded that Bank Indonesia cannot fully adopt general accounting standards due to its unique objectives, necessitating accounting standards tailored to the characteristics of Bank Indonesia.
To ensure independence in developing Bank Indonesia's accounting standards, an independent KAKBI Committee was established. This Committee is responsible for preparing and developing KAKBI, as stipulated in Board of Governors Regulation. Its primarily consists of external parties, including accounting experts from professional organisations (The Institute of Indonesian Chartered Accountants (IAI)), academics, practitioners in accounting, as well as representatives from the Supervisory Board of Bank Indonesia.
KAKBI Committee was established to develop accounting standard that represents the unique objectives and transaction characteristics of Bank Indonesia as a central bank, which differs from commercial and other public institutions. The preparation of KAKBI as a special accounting standard for Bank Indonesia aims to enhance transparency and accountability in the preparation of Bank Indonesia's Financial Statements.
The KAKBI Committee consists of several bodies: the Committee Chair, the Steering Board, the Technical Team and the Secretariat. The Chairman of KAKBI Committee is Deputy Governor responsible in financial management function. The Steering Board is responsible for evaluating dan approving KAKBI's draft prepared by the Technical Team.
During its preparation, KAKBI Committee follows to a thorough and prudent due process to ensure that KAKBI is objective and meets the highest standards of quality.
Committee Chair
Member of the Board of Governors overseeing the financial management function, Destry Damayanti.
Steering Board
1
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Rosita Uli Sinaga
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Chair of the steering Board, also member |
Rosita Uli Sinaga currently serves as a National Board Member of The Institute of Indonesian Chartered Accountants (IAI) and a Partner at KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan (RSM Indonesia). |
2
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Rika Satriana Dewi
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Member (Ex Officio from Bank Indonesia) |
Rika Satriana Dewi currently serves as the Head of Bank Indonesia Finance Department. |
3
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Prof. Sidharta Utama |
Member |
Prof. Sidharta Utama currently serves as the Chairman of the Financial Services Authority (OJK) Supervisory Board, the Secretary of the National Committee on Governance Policy of Indonesia, the Chairman of the Indonesian Institute for Corporate Directorship (IICD) Advisory Board, a National Board Member of The Institute of Indonesian Chartered Accountants (IAI), a Supervisory Board Member of the Indonesian Institute of Certified Public Accountants (IAPI), the Chairman of the Audit Committee of PT Astra Graphia Tbk., and a Professor at Universitas Indonesia. |
4
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Amir Abadi Jusuf |
Member |
Amir Abadi Jusuf currently serves as the Chief Executive Partner at KAP Amir Abadi Jusuf, Aryanto, Mawar & Rekan (RSM Indonesia). |
5
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Prof. Mohamad Khusaini |
Member (Ex Officio from Supervisory Board of Bank Indonesia) |
Prof. Mohamad Khusaini currently serves as a Member of the Supervisory Board of Bank Indonesia, and as a Professor and Lecturer at Universitas Brawijaya. |
6
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M. Jusuf Wibisana |
Member |
M. Jusuf Wibisana currently serves as a National Board Member of The Institute of Indonesian Chartered Accountants (IAI) and a Partner at KAP Rintis, Jumadi, Rianto & Partners (PwC Indonesia). |
7
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J. B. P. Simandjuntak |
Member (Ex Officio from Bank Indonesia) |
J.B.P. Simandjuntak currently serves as the Head of the Strategic Financial Management Group of the Finance Department of Bank Indonesia, a Member of the Financial Accounting Standards Advisory Board of the Institute of Indonesian Chartered Accountants (IAI), and a Member of the Steering Committee for Financial and Sustainability Reporting Accounting Policy of State-Owned Enterprises. |
8
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Saptadi |
Member (Ex Officio from Bank Indonesia) |
Saptadi currently serves as the Head of the Financial Accountability Group of the Finance Department of Bank Indonesia and a Member of the Sustainability Standards Oversight Board of the Institute of Indonesian Chartered Accountants (IAI). |
9
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Dwi Martani |
Member |
Dwi Martani currently serves as a Member of the Audit Committee at the Ministry of Finance, the Deputy Chairman of the Government Accounting Standards Committee (KSAP), a Member of the Continuing Professional Education Committee of the Indonesian Institute of Certified Public Accountants (IAPI), a Member of the Audit Committee of PT Saka Energi Indonesia, and a Lecturer at Universitas Indonesia. |
10
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Prof. Dr. H. Slamet Sugiri |
Member |
Prof. Dr. H. Slamet Sugiri currently serves as a Professor and Lecturer at Universitas Gadjah Mada. |
11
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Severinus Indra Wijaya |
Member (Ex Officio from Financial Accounting Standards Board of the Institute of Indonesian Chartered Accountants (IAI)) |
Severinus Indra Wijaya currently serves as the Chairman of the Financial Accounting Standards Board of Institute of Indonesian Chartered Accountants (IAI), a Member of the Public Accountants Professional Committee (KPAP), and a Partner at KAP Siddharta Widjaja & Rekan (KPMG Indonesia). |
12
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Kusumaningsih Angkawijaya |
Member |
Kusumaningsih Angkawijaya currently serves as the Chairman of the Board of Directors of Indonesian Institute of Certified Public Accountants (IAPI), a Member of the Public Accountants Professional Committee (KPAP), and a Partner at KAP Siddharta Widjaja & Rekan (KPMG Indonesia). |
13
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Danil S. Handaya |
Member
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Danil S. Handaya currently serves as a Partner at KAP Purwanto, Sungkoro, and Surja (EY Indonesia).
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Technical Team – Resource Persons
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Prof. Sylvia Veronica Siregar |
Sylvia Veronica Siregar currently serves as the Chairman of the Board of Directors of the Institute of Certified Sustainability Practitioners (ICSP), a Member of the Organization and Institutional Relations Committee of Institute of Indonesian Chartered Accountants (IAPI), a Member of the Working Group of Public Sector Accounting Standards Committee (KSAP), a Member of the Audit Committee of PT. Taisho Pharmaceutical Indonesia, Tbk., and a Professor and Lecturer at Universitas Indonesia. |
2
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Prof. Ratna Wardhani |
Ratna Wardhani currently serves as the Board of Examination of the Institute of Certified Sustainability Practitioners (ICSP), a Member of the Working Group of Public Sector Accounting Standards Committee (KSAP), the Chairman of the Audit Committee of PT. Astra Agro Lestari, Tbk., an Independent Commissioner of PT. Astra Agro Lestari, Tbk, and a Professor and Lecturer at Universitas Indonesia. |
3
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Prof. Jaih Mubarok |
Jaih Mubarok currently serves as the Secretary of the National Sharia Board of Indonesian Ulama Board (DSN-MUI) and a Lecturer at Universitas Ibn Khaldun Bogor. |
4
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M. Dawud Arif Khan |
M. Dawud Arif Khan currently serves as the Deputy Treasurer of the National Sharia Board of Indonesian Ulama Board (DSN-MUI). |
5
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Liana Lim |
Liana Lim currently serves as a Partner at KAP Imelda & Rekan (Deloitte Indonesia). |
6
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Yan Rahadian |
Yan Rahadian currently serves as a Member of the Audit Committee of PT. Perusahaan Gas Negara, Tbk., a Member of the Working Group of Public Sector Accounting Standards Committee (KSAP), and a Lecturer at Universitas Indonesia. |
7
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Yanto Kamarudin |
Yanto Kamarudin currently serves as a Member of the Professional Accountant Certification Board of Institute of Indonesian Chartered Accountants (IAI) and a Partner at KAP Rintis, Jumadi, Rianto & Partners (PwC Indonesia). |
8
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Yasir |
Yasir currently serves as the Chairman of the Sharia Accounting Standards Board of Indonesian Chartered Accountants (IAI) and a Partner at KAP Purwanto, Sungkoro, and Surja (EY Indonesia). |
9
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Teuku Radja Syahnan |
Teuku Radja Syahnan currently serves as an Independent Commissioner and the Chairman of the Audit Committee of Bank Commonwealth Indonesia, and an Expert Staff for Member I of the Audit Board of the Republic of Indonesia (BPK-RI). |
10
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Irwan Lawardy Lau |
Irwan Lawardy Lau currently serves as a Member of the Financial Accounting Standards Board of Indonesian Chartered Accountants (IAI), a Member of the Steering Committee for Financial and Sustainability Reporting Accounting Policy of State-Owned Enterprises, and a Partner at KAP Rintis, Jumadi, Rianto & Partners (PwC Indonesia).
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Technical Team – Bank Indonesia
Tonny Indarto, Sri H.R. Pahlevi, Ria Aulia Sasongko, Egiya Riahta, Cintya Wulandari, Dyah Ayu Larasati, Abraham Kevin Maratur, Galih Pradhono, Dinar Mahalianti, Arisona Lestari B., Christine A. Gultom, Rian Rahman Yuntoharjo, Kusfisiami Wima Mustika, Agustian Singgih, Tri Puji Lestari, Yason Taufik Akbar, Putri Almainda Kamila, Lia Sari Oktara, Pamungkas Hadi Susmono, Puji Dwiyani, Nur Chairur Rohim.
Technical Team – Academics
Members of the Center of Accounting Development (PPA), Faculty of Economics and Business, Universitas Indonesia.
Secretariat
Accounting Policy Team – Finance Department, Bank Indonesia
Steering Board
Authorized to:
- Provide independent input on the studies and concepts of PKAK-BI prepared by the Technical Team.
- Provide approval for the draft of PKAK-BI.
- Provide opinions and recommendations for the refinement and/or revocation of PKAK-BI.
Technical Team
Responsible for conducting studies on financial accounting policy issues approved by the Steering Board and preparing academic manuscripts for PKAK-BI.
Secretariat
Responsible for administration, organizing Steering Board Meetings, documenting committee meetings and/or activities and archiving documents.
