Name : Ade Faulia Sazqiah
Npm  : 1812120120
CASE :
" Black Footprint of PT Hanson International, Manipulation of 2016 Financial Statements "
JAKARTA, KOMPAS.com - The name of PT Hanson International Tbk has been rising for some time now. This property company has been linked to the scandal of two state-owned insurance companies, PT Asuransi Jiwasraya (Persero) and PT Asabri (Persero).
Both Jiwasraya and Asabri, placed their customers' funds in large enough nominal at PT Hanson International Tbk. In addition to placement through shares, investment also flows through the purchase of Medium Term Notes (MTN) or debt securities.
In the notes of the Financial Services Authority (OJK), PT Hanson International has been proven to manipulate the presentation of annual financial statements (LKT) for 2016. OJK also imposed sanctions, both for the company and its president director, Benny Tjokro.
In the examination conducted by the FSA, it was found manipulation in the presentation of accounting related to the sale of land 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).
OJK disputes the recognition using the full accrual method, although in the 2016 LKT, the transaction was not disclosed in the 2016 LKT.
Author: Muhammad Idris | Editor: Sakina Rakhma Diah Setiawan
JAKARTA, KOMPAS.com - The name of PT Hanson International Tbk has been rising for some time now. This property company has been linked to the scandal of two state-owned insurance companies, PT Asuransi Jiwasraya (Persero) and PT Asabri (Persero).
Both Jiwasraya and Asabri, placed their customers' funds in large enough nominal at PT Hanson International Tbk. In addition to placement through shares, investment also flows through the purchase of Medium Term Notes (MTN) or debt securities.
In the notes of the Financial Services Authority (OJK), PT Hanson International has been proven to manipulate the presentation of annual financial statements (LKT) for 2016. OJK also imposed sanctions, both for the company and its president director, Benny Tjokro.
In the examination conducted by the FSA, it was found manipulation in the presentation of accounting related to the sale of land 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).
OJK disputes the recognition using the full accrual method, although in the 2016 LKT, the transaction was not disclosed in the 2016 LKT.
Also read: Benny Tjokro Entered the List of RI's Richest People, Dragged by Scandals in SOEs
Meanwhile, if based on the Accounting for Real Estate Development Activities (PSAK 44) sales revenue can be recognized by the full accrual method with conditions that meet the criteria, including the completion of the Binding of Sales and Purchase Agreement (PPJB) which cannot be proven by the company.
"That Br. Benny Tjokrosaputro as the President Director of PT Hanson International Tbk as of December 31, 2016 has proven to have committed violations," OJK wrote in his statement.
According to the OJK, by not submitting the PPJB to auditors who audit PT Hanson International Tbk's LKT, making revenue in LKT 2016 to be 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.
CASE RESPONSE : 
In my opinion fraud in the practice of financial reporting is a crucial and sensitive issue in the accounting profession. Because the fraud committed by an accountant, can have a significant impact on the economy, even on a micro level.
The above case is fraud in the realm of the public sector committed by accountants. In the case of accountants in the case of PT. Hanson International, the most surprising case that occurred in 2016 was the revelation of manipulation of financial statements. The reason the big company cheated was almost the same, which made the company's revenue rise sharply.
Because of the LKT engineering, OJK imposed sanctions on PT Hanson International Tbk to be fined Rp.500 million and an order to make improvements and restate the 2016 LKT.