PP No. 43/2025 Defines Structure of Financial Reporting Standards

JAKARTA, 27 Oct 2025 – The government issued Government Regulation No. 43/2025 that sets the organization of the Financial Reporting Standards Committee. The rule establishes the committee framework for developing both general and Sharia financial reporting standards.

The committee is split into an implementing committee and a steering committee. The implementing side includes a chair, vice‑chair and three sub‑committees with 7, 15 and 17 members drawn from regulators, accounting associations, academia and related authorities; ex‑officio members serve by virtue of their official positions. The steering committee comprises 12 ex‑officio members representing ministries, the financial services authority, guarantee agencies and professional associations.

The new structure provides a formal basis for setting financial reporting standards, including Sharia standards, with input from a broad range of stakeholders. A more organized body is expected to produce independent standards that improve the quality of financial reporting in Indonesia.