Finance Ministry, OJK slap Garuda with fine following ‘incorrect’ financial statement

29-Jun-2019 Intellasia | TheJakartaPost | 6:02 AM Print This Post

The government has decided that state-owned airline PT Garuda Indonesia must restate its 2018 financial statement and annual report. The decision was announced on Friday following a joint investigation by the finance ministry and the Financial Services Authority (OJK), which found that Garuda published an incorrect financial statement report that did not comply with current accounting standards. Read also: Garuda asked to restate 2018 financial report for the sake of ‘credibility’ Moreover, OJK deputy commissioner for capital market monitoring division Fakhri Hilmi said the firm also did not mention the fact that two of its commissioners had refused to sign the 2018 annual report, signaling that they refused to accept the facts stated in the report. As a result, Garuda must resubmit its 2018 financial statement and annual report in the next 14 days. The co…


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