Ministry of Finance of Republic of Indonesia : Indonesia Encourages Good Governance of AARG

Jakarta, 21/01/2016 MoF - By the implementation of ASEAN Economic Community (AEC) in 2015, ASEAN countries are beginning its implementation gradually. AEC is intended to develop an integrated regional market, also capital market.

In the process toward the fully of integration Capital Market, the ASEAN Audit Regulators Group (AARG) have important roles in setting up the effective audit oversight among the ASEAN members. 'So the highly financial quality reporting can be created, as well as highly quality audit and strong capital market,' said the Secretary General Hadiyanto in the 4th ASEAN Audit Regulators Group (AARG) meeting and inspection workshop in Bali, on Wednesday (20/1).

To achieve this goal, he continued, the AARG should be cooperating to be provider in sharing best practices in audit regulation and inspection. In addition, it should be able to be supporter and help other ASEAN members to develop independent audit oversight.

He hoped that all ASEAN member countries could join the AARG, so that they would give more benefit to ASEAN region. For information, AARG's members are audit regulators from 4 (four) countries in south-east asia. They are Indonesia, Malaysia, Singapore and Thailand. 'Besides the four countries, we still have other 7 (seven) countries in the region that not yet become member of AARG,' he said.

In addition, he also hoped some upgrading in AARG governance, for example, by having AARG charter, AARG board, and AARG Secretariat. 'Good governance of AARG may bring out a better cooperation among members and thus create higher quality audit in the region,' he concluded.(nv)