NAMA : NIKEN SALSABILLAH 
NPM    : 1812120118
Accountant Fraud Case :
 
Manipulation of Managing Director Financial Report of PT Hanson
It ends with a fine of Rp. 5 Billion
 
The Financial Services Authority (OJK) imposes a financial penalty on the President Director of PT Hanson Internasional Tbk (MYRX) Benny Tjokro in the amount of Rp. 5 billion. That was related to the manipulation of the company's financial statements since 2016. Deputy Commissioner for Capital Market Supervisor I, Djustini Septiana, revealed that the violations committed by the company were related to Financial Accounting Standards 44 concerning Accounting for Real Estate Activities (PSAK 44) in the sale of Ready to Build Plots (Kasiba) worth Rp 732 billion.
Djustini continued, PT Hanson International is known not to disclose the binding agreement for the Sale and Purchase of Plots to Build in Serpong Kencana Housing dated July 14, 2016 (PPJB July 14, 2016) regarding the sale of Kasiba in the 2016 Financial Statements. violating Article 107 of Law Number 8 of 1995 concerning Capital Market (UUPM).
"Mr. Benny Tjokrosaputro, as the President Director of PT Hanson Internasional Tbk, is proven to have violated Article 107 of the Capital Market Law and is responsible for the misrepresentation of PT Hanson International Tbk's Annual Financial Statements as of December 31, 2016," Djustini said in an official statement from the OJK, Friday ( 9/8).
Not only the President Director, the FSA also set the company PT Hanson International to violate. Because, PT Hanson International Tbk did not disclose the binding sale and purchase agreement of lots ready to build.
"Administrative sanctions in the form of a fine of Rp 500 million and a written order to make improvements and restatement of the LKT
"PT Hanson International Tbk as of December 31, 2016 is at the latest 14 (fourteen) days after the stipulation of the sanction letter," he added.
In addition, Djustini revealed, there were three other people in the company who were also subjected to sanctions. Namely, Adnan Tabrani as Director and Sherly Jokom from the Public Accounting Firm Purwantono, Sungkoro and Surja (members of Ernst and Young Global Limited) who conducted an audit of PT Hanson International's LKT.
"Mr. Adnan Tabrani is subject to administrative sanctions in the form of a fine of Rp. 100 million, Mr. Sherly Jokom as a Public Accountant registered with OJK is subject to administrative sanctions in the form of STTD Suspension for 1 (one) year after the stipulation of the sanction letter," he explained.
Fines Are Paid, Then Resign
Questioning the PT Hanson International case, Deputy Capital Market Supervisory II OJK Fakhri Hilmi said, the fine from the person concerned had been paid.
"They have already paid the fine. Pak Benny has already paid, PT Hanson has already paid, the director has already paid, his colleagues have already paid," Fakhri said when confirmed at the IDX Building, Jakarta, Friday (9/8). Fakhri added, his party had just received a statement of resignation from them. It also agreed.
"Restatement finally they submitted a resignation, we agreed, no later than August 31, we have received a new restatement from them," he said.
 
RESPONSE :
The Financial Services Authority (OJK) imposes a financial penalty on the President Director of PT Hanson Internasional Tbk (MYRX) Benny Tjokro in the amount of Rp. 5 billion. That was related to the manipulation of the company's financial statements since 2016. Deputy Commissioner for Capital Market Supervisor I, Djustini Septiana, revealed that the violations committed by the company were related to Financial Accounting Standards 44 concerning Accounting for Real Estate Activities (PSAK 44) in the sale of Ready to Build Plots (Kasiba) worth Rp 732 billion.
This fraud occurred because PT Hanson International was known to not disclose the binding sale and purchase agreement for the Kavling Ready to Build Serpong Kencana Housing dated July 14, 2016 (PPJB July 14, 2016) regarding the sale of Kasiba in the 2016 Financial Statements. has violated Article 107 of Law Number 8 of 1995 concerning Capital Market (UUPM).
In the examination conducted by the OJK, it was found manipulation in the presentation of accounting related to the sale of lots ready to build (Kasiba) with a gross value of Rp 732 billion, thereby making the company's revenue rise sharply. In the sale and purchase, Hanson International violated Financial Accounting Standards 44 concerning Accounting for Real Estate Activities (PSAK 44).
Meanwhile, if based on the Accounting for Real Estate Development Activities (PSAK 44) sales revenue can be recognized by full accrual method with the conditions that have met the criteria, including the completion of the Purchase Binding Agreement (PPJB) which cannot be proven by the company.
By not submitting the PPJB to the auditors who audited PT Hanson International Tbk's LKT, making the 2016 LKT revenue overstated with a material value of Rp 613 billion. "OJK has become misled and cannot use its authority to order PT Hanson International Tbk to make corrections to PT Hanson International's LKT as of December 31, 2016. Due to the engineering LKT, OJK imposed sanctions on PT Hanson International Tbk to be fined Rp.500 million and orders to make improvements and restatement of LKT 2016. While CEO of PT Hanson International Benny Tjokro was sentenced to a fine of Rp.5 billion, while another director, Adnan Tabrani was also subject to a fine of Rp100 million.
in my opinion the role of accounting is very important for the company, and an accountant knows the secrets of the company's budget that makes an accountant must have a sense of honesty and responsibility, PT. Hansel acknowledged revenue with the full accrual method and did not disclose the promise of binding the sale and sale of the Ready Plot in the Serpong Kencana housing complex because this resulted in revenue in the 2016 annual financial statement being overstated with a material value of Rp 613 billion. By not including some of the budget in the financial statements is an act of corruption that can harm the company, an accountant who does so at PT. Hanson had lost the trust of the people involved so that after the incident they paid fines and withdrew from the company.