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The Case of SNP Finance and Betting Damages the Reputation of Public Accountants

the Financial Services Authority (OJK) imposed administrative penalties on two accountants and one accounting firm (KAP). AP Marlinna and AP Merliyana Syamsul and KAP Satrio, Bing, Eny (SBE) and Partners, as well as their partners, were not expected to give assent to the actual conditions set out in PT Sunprima Nusantara Pembiayaan's annual financial report (SNP Finance).

The sanctions received by the two PAs and a KAP consisted of a cancellation of registration related to the results of the review of the financial statements of SNP Finance.

Both PA and KAP provided "unqualified" views in the audit results of SNP Finance's annual financial statements. In fact, the results of the OJK review indicate that SNP Finance presents financial statements that are not substantially consistent with the actual financial situation. Thus, causing losses to many parties, including banks.

Anto Prabowo, OJK's Assistant Commissioner for Strategic Management and Logistics, said the imposition of sanctions on both PAs and KAPs applied to the banking sector, the capital market and the non-bank financial sector ( IKNB). This means that, for the time being, they can not complete the process of auditing financial services. The cancellation of the KAP SBE registration takes effect after the KAP has completed the 2018 Annual Financial Audit (LKTA) audits of customers who still have contracts.

SBE KAP is also prohibited from adding new customers. At the same time, for AP Marlinna and AP Merliyana Syamsul, the cancellation of the registration was effective since the OJK was stipulated Monday (1/10).

"The sanctions imposed are valid for an indefinite date

This sanction also applies to issuers who issue securities and shares, which are listed on the Indonesian stock exchange," Anto explained.

OJK determined that AP Marlinna and AP Merliyana Syamsul committed gross violations in violation of POJK No. 13 / POJK.03 / 2017 regarding the use of public accounting and accounting firms. As stated in the explanation of Article 39, letter b, POJK No. 13 / POJK.03 / 2017 (PDF), the serious violations mentioned include manipulation, manipulation or falsification of data relating to the services provided.

In the meantime, SBE KAP, Deloitte Indonesia's local partner, confirmed that it did not receive an official copy of the OJK's decision. In this way, he can not yet decide what action to take. KAP SBE added that it had received sanctions from the Ministry of Finance's Center for the Development of the Financial Profession (P2PK). However, the KAP SBE stated that he had never been invited by the OJK to provide information on the LKP SNP Finance.

"The SBE KAP is still studying the options that can be taken," wrote KAP SBE in a statement received.


The scandal of falsification and manipulation of financial reports internationally has also shocked the world. Enron Corporation, an energy company based in Houston, Texas, United States, in collaboration with accounting firm Arthur Andersen (AA), in handling financial reports. Enron inflated the value of the company's $ 74 billion profit.

In fact, this amount represents a fictitious benefit of $ 43 billion through the modification of the income statement. One method is to pre-register a nominal amount of $ 586 million. The company's New York Stock Exchange (NYSE) earnings under the issuer ESE rose sharply. The entry of projected figures in corporate profits always follows accounting principles in the presentation of financial statements.

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