New law to boost foreign public accountants operation in RI

The Jakarta Post, Jakarta | Tue, 04/05/2011

Tuesday's endorsement of the new public accountant law will lead to the mushrooming of foreign public accountants operating in Indonesia, Indonesian Public Accountant Institute secretary-general Tarkosunaryo says.

He said there was no foreign public accountant operating in Indonesia, and that so far they only affiliated with their local counterparts.

The law, however, provides “clear” legal grounds for foreign public accountants, likely to attract them to open offices in the country, Tarkosunaryo said Tuesday.

Separately, Finance Minister Agus Martowardojo said after attending the House of Representatives' Tuesday plenary endorsing the public accountants law, that a foreign public accountant could open an Indonesian office by joining hands with four or five local public accountants.

“Foreign public accountants can apply for a license at the Finance Ministry if there has been an agreement [on the matter] between the Indonesian government and the governments of their countries of origin,” Agus added.