ojk-corporate-governance-guideline-for-public-companies | KPMG | ID

OJK - Corporate Governance Guideline for Public Companies

OJK-Corporate Governance Guideline for Public Companies

In November 2015, the Financial Services Authority issued regulation POJK No. 21/POJK.04/2015 that mandates public companies to ‘comply or explain’ with the new Corporate Governance Guideline for Public Companies – “OJK-CG Guideline”.

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The ‘comply or explain’ approach allows public companies to either comply with the provisions in the OJK-CG Guideline, or provide explanation in the case of non-compliance. All public companies are also obligated to publicly disclose their adherence or explain reasons for non-compliance beginning in their 31 December 2016 Annual Reports.

This brochure summarizes OJK recommendations, compares them to the Indonesia’ Code of Good Corporate Governance and identifies key actions that companies should take to ensure compliance and improve their corporate governance practices.

 

 

They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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