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Deadline Reminder: Annual Corporate Reports Due January 2024

January 5, 2024 • Batavia Alerts
Deadline Reminder: Annual Corporate Reports Due January 2024

Listed companies must submit annual reports to OJK within 120 days of fiscal year end. Non-compliance may result in administrative sanctions and trading suspension.

Annual Reporting Obligation

This is a reminder that listed companies must submit their annual reports to the Financial Services Authority (OJK) within 120 days of the end of the fiscal year. For companies with a December 31 fiscal year end, the deadline is April 30, 2024.

Required Disclosures

Annual reports must include:

Financial Statements

  • Audited balance sheet and income statement
  • Statement of changes in equity
  • Cash flow statement
  • Notes to financial statements
  • Independent auditor’s report

Corporate Governance

  • Board of Directors and Commissioners composition
  • Attendance record of board meetings
  • Audit committee report
  • Related party transactions
  • Risk management framework

Sustainability Report

  • Environmental impact and initiatives
  • Social responsibility programs
  • Governance practices and compliance

Other Required Information

  • Business overview and outlook
  • Material events during the reporting period
  • Shareholding structure
  • Material legal proceedings

Recent Regulatory Updates

OJK has enhanced disclosure requirements for 2024 annual reports:

  • Climate Risk Disclosures - Mandatory reporting of climate-related risks and mitigation measures
  • Digital Transformation - Reporting on technology investments and digital capabilities
  • Talent Management - Disclosure of workforce development initiatives and diversity metrics

Filing Process

Annual reports must be submitted electronically through:

  1. OJK’s reporting system (e-OJK)
  2. Indonesian Stock Exchange disclosure platform
  3. Company website for public access

Non-Compliance Consequences

Failure to submit annual reports on time may result in:

  • Written warning from OJK
  • Public announcement of non-compliance
  • Administrative fines of up to IDR 1 billion
  • Trading suspension of company shares
  • Additional reporting requirements
  1. Engage independent auditors early in the process
  2. Prepare draft financial statements by February 2024
  3. Coordinate with audit committee on review timeline
  4. Compile sustainability and governance reports
  5. Allow buffer time for revisions and final approval

This alert is for general information. For assistance with annual report preparation, please contact Syafrullah Hamdi at syafrullah.hamdi@b-av.co.