The implementation of SA 600 in auditing the financial statements of Regional Public Service Agencies (Badan Layanan Umum Daerah or BLUD) and State-Owned Enterprises (Badan Usaha Milik Daerah or BUMN) is a crucial aspect that every public accountant must be aware of. This is because the audit of financial statements plays a vital role in maintaining the credibility and transparency of entities, including BLUDs and BUMNs.

 

In this regard, auditors need to ensure that the audit of financial statements of BLUDs and BUMNs is conducted effectively and in compliance with the applicable standards. In this article, TGS AU Partners will discuss the implementation of SA 600 in auditing the financial statements of BLUDs and BUMNs.

Latest Revision in 2021: SA 600 on Special Considerations - Audits of Group Financial Statements

SA 600, revised in 2021, is an audit standard that addresses special considerations applicable to group audits, especially those involving component auditors. Auditors can use SA 600 when there are other auditors involved in the audit of financial statements as required by circumstances.

 

In this context, the group engagement team needs to obtain sufficient understanding to confirm or revise the initial identification of significant components. Additionally, the team needs to assess the risk of material misstatement in the group financial statements, whether caused by fraud or error. This enables the management to communicate their objectives effectively to engagement partners.

The Importance of Implementing SA 600 for SOEs and State-Owned Enterprises

According to the Regulation of the Supreme Audit Agency of the Republic of Indonesia No. 3 of 2022, it is stated that the Supreme Audit Agency of the Republic of Indonesia (BPK RI) may utilize the services of public accountants and/or Professional Audit Personnel (Tenaga Kerja Pemeriksa Profesional or TKPP) working in Public Accounting Firms (Kantor Akuntan Publik or KAP) in the Examination of State Finances. 

 

According to Dimas Emha Amir Fikri Anas, SE., M.SA., CA., CPA— Partner of Audit & Assurance at TGS AU Partners Malang Branch— Public Accountants are part of the component auditors where the BPK acts as the group auditor. Therefore, Public Accountants must have an understanding of BPK regulations to create synergy between component auditors and the group auditor.

 

As professional auditors, public accountants must also comprehend the implementation of SA 600 in the audit of Local Government Financial Statements (LKPD). Entities like BLUDs and BUMNs, which are established to provide services to the public, are expected to be accountable to the public and relevant stakeholders through accurate and reliable financial statements. Here, public accountants play a crucial role in helping maintain the credibility and transparency of entities by implementing SA 600 in auditing activities.

 

The implementation of SA 600 in auditing the financial statements of BLUDs and BUMNs is vital for ensuring the integrity, transparency, and accountability in the management of public funds and state assets. Furthermore, effective implementation can help maintain the trust of shareholders, the government, and the public in these entities.

Conclusion

In conclusion, the implementation of SA 600 in auditing the financial statements of BLUDs and BUMNs is a critical step in preserving the credibility and transparency of these entities. Auditors must adhere to the guidelines provided in the 2021 revision of SA 600 to ensure that audits are conducted effectively, independently, and objectively. Additionally, auditors need to understand the specific context of BLUDs and BUMNs to carry out audits effectively. By adhering to these standards, you can ensure the accuracy of information in the financial statements of BLUDs and BUMNs, thereby maintaining the trust of shareholders, the government, and the public.

 

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