Name   : Shandy Putra Ramadhan
NPM    : 1912120017
Class    : 2Ak-P1
 
PT Asuransi Jiwasraya (Tbk) has failed to pay the JS Saving Plan insurance policy due to a long-standing fraud.
Inevitably, there is the role of accountants who engineer Jiwasraya's financial statements on an ongoing basis. Based on BPK's records, Jiwasraya has posted quasi profits since 2006.
Senior Researcher and Core Indonesia's Research Director, Piter Abdullah Redjalam said, the Jiwasraya case both the perpetrators and their accomplices must be resolved. Resolving the problem will definitely reveal the extent of the accountant's role.
"By completing, it will be seen how far the role of financial statement engineering covers all these problems," Piter said.
Furthermore, said Piter, the government must also uncover the engineering of Jiwasraya's financial statements as the behavior of certain elements or even the mistakes of its own accountants. Data and facts are needed to uncover the engineering of this large-scale fraud.
"The government can only take further action if everything is really supported by data and facts. No longer guesses," he said.
Piter also advised the government to take firm action if there are accountants and public accountants on an international scale (the big four) who are included in the Jiwasraya fraud case circle.
As is known, many State-Owned Enterprise (SOE) companies use international scale public accountants (Big Four) such as EY, Pwc, Delloite, and KPMG. Some of the public accountants also had tripped cases of wrong audits and cases of default.
"This step can then be a momentum to further trust or use domestic public accounting firms outside of the big four," Piter said.
Previously reported, Jiwasraya experienced a failure to pay the JS Saving Plan insurance product policy. In fact, the financial statements of the state-owned company are quite good when viewed from its financial statements in recent years.
After being audited, fraud was discovered on the investment side. Jiwasraya is known to often invest in "fried" shares and has posted false profits since 2006.
Even in 2017, Jiwasraya also obtained an unnatural opinion in its financial statements. In fact, at that time Jiwasraya had posted a profit of Rp 360.3 billion. The unnatural opinion was obtained due to a reserve deficit of Rp7.7 trillion.
In my opinion
A company can't only rely on data from the accountant alone or only data from one accountant because the company should be able to go down directly to check too.