Indonesia is entering a new phase of financial governance with the issuance of Government Regulation (PP) No. 43 of 2025 on Financial Reporting. The rule introduces a unified and more stringent framework that will require companies to submit their financial statements through a centralized platform beginning in 2027. Supported by additional guidance from news reports on Bloomberg Technoz and Detik Finance, the new regulatory landscape represents one of the country’s largest transparency reforms in recent years. This article examines what businesses need to know, the major structural changes, and how the new financial reporting regulation will impact stakeholders across Indonesia’s economy.

Background of the New Regulation

The government’s objective behind the financial reporting regulation is clear: strengthen transparency, accountability, and data reliability across Indonesia’s financial ecosystem. PP No. 43 of 2025 was issued as a follow-up mandate to the Financial Sector Development and Strengthening Law (UU P2SK) and introduces standardized rules for the preparation, submission, and monitoring of financial statements.

According to the regulation, beginning in 2027, entities operating in the financial sector, public companies, and business actors interacting with financial institutions will be required to submit their financial reports through the Financial Reporting Single Window, known as PBPK. This centralized platform aims to unify data submission, reduce duplication, and provide a reliable single source of truth for regulators.

Based on the Bloomberg Technoz article, the government has emphasized that this reform is intended to build a more robust reporting ecosystem, ensuring that regulators, investors, creditors, and the public have access to consistent and high-quality financial data. Detik Finance similarly highlights that the Ministry of Finance will now become the primary institution overseeing financial report submission, consolidating reporting obligations previously scattered across multiple agencies.

A Single Gateway for Financial Reporting

Why PBPK Matters

A key highlight of the financial reporting regulation is the mandatory use of the PBPK platform. Under PP No. 43 of 2025, all general-purpose financial statements must be submitted through PBPK, which will act as a unified national repository. The platform must comply with strict principles such as security, confidentiality, auditability, availability, and synchronization across government institutions.

For companies, this means reporting processes will become more standardized. They will no longer need to submit financial statements separately to different authorities. Once uploaded and verified, the reports will be distributed digitally to relevant institutions including the Ministry of Finance, the Financial Services Authority (OJK), and Bank Indonesia.

Regulators have stressed that PBPK is designed to improve data quality and prevent inconsistencies in financial reporting. As emphasized in the official PP document, the platform will support decision-making for lending, investment, academic research, and market analysis. By enabling uniform reporting, the financial reporting regulation aims to strengthen governance and boost investor confidence in Indonesia’s rapidly expanding financial and capital markets.

Who Must Comply With the New Rules

Mandatory Reporting Groups

The regulation outlines clear categories of entities required to submit financial statements:

1. Financial sector businesses, including banks, insurance companies, pension funds, financing firms, securities firms, and fintech lending platforms.
2. Public companies and capital market entities, including issuers and listed corporations.
3. Businesses interacting with financial institutions, such as borrowers, corporate clients, and parties participating in financial transactions.
4. Entities required by specific laws, including tax-related reporting.

This broad coverage means a significant portion of Indonesia’s corporate and financial ecosystem will be subject to the financial reporting regulation. Even non–financial sector businesses will be affected if they interact with financial institutions.

Timeline for Implementation

The regulation introduces a phased approach:

• Public companies and capital market issuers must comply by 2027.
• Other entities will follow according to schedules set jointly by the Ministry of Finance and relevant regulators.

This multi-year transition period aims to give businesses adequate time to adapt internal processes, hire qualified financial professionals, and establish proper internal controls.

Strengthening the Financial Reporting Ecosystem

Competency Requirements and Responsibility

PP No. 43 of 2025 emphasizes that financial statements must be prepared by individuals with appropriate competence and integrity. In many cases, businesses will be required to work with certified accountants, including public accountants or licensed practitioners. Furthermore, business owners, directors, or senior management must sign formal declarations taking responsibility for the accuracy of submitted reports.

The regulation also introduces mandatory internal control systems to support quality and compliance. Ministries and agencies may publish additional requirements for specific industries, ensuring that sector-specific risks are properly addressed.

Penalties for Non-Compliance

The financial reporting regulation introduces administrative sanctions for entities that fail to prepare or submit financial statements as required. Sanctions may include warnings, fines, or additional measures imposed by relevant authorities such as OJK, the Ministry of Finance, or Bank Indonesia.

These penalties reinforce the government's intention to close compliance gaps and ensure that financial reporting becomes a core corporate responsibility.

Why This Regulation Matters for Indonesia’s Economy

Indonesia is positioning itself as an increasingly attractive destination for investment, and transparent financial reporting is a critical foundation. The government believes that the new financial reporting regulation will help:

• Promote investor confidence through transparent and comparable data
• Strengthen oversight of financial institutions and borrowers
• Support economic planning through accurate national financial information
• Reduce opportunities for manipulation, fraud, and governance failures
• Improve regulatory coordination across institutions

By unifying reporting obligations and establishing a single national platform, Indonesia aims to streamline regulatory processes and reduce business uncertainty. Over time, the reform could contribute to greater capital market efficiency and broader economic growth.

Indonesia’s new financial reporting regulation marks a significant shift in how the country approaches corporate transparency. With the rollout of PBPK, the emphasis on data reliability, and stricter compliance frameworks, businesses will need to elevate their internal financial management practices. Although the transition will require effort and adaptation, the long-term benefits are expected to include a more transparent, accountable, and globally competitive financial ecosystem.

As 2027 approaches, companies across sectors should begin preparing now by strengthening financial governance, upgrading reporting systems, and ensuring personnel are ready to meet the new national standards.