Last June 2026, during the Kreston Global World Conference held in London, UK, Kreston Indonesia had the opportunity to discuss with fellow Kreston colleagues from around the world on how to better lead clients through a changing global business landscape.
Building on those discussions, Kreston Indonesia recently initiated a sharing session as part of our ongoing commitment to our clients — helping them prepare for the adoption of International Financial Reporting Standards IFRS 18: Presentation and Disclosure in Financial Statements, which will replace IAS 1 as issued by the IASB.
In line with this global development, Ikatan Akuntan Indonesia (IAI) has also published PSAK 118, containing the same provisions as IFRS 18. The new standard will take effect for annual reporting periods beginning January 1, 2027.
Through this initiative, Kreston Indonesia aims to strengthen trust and confidence with our clients by ensuring they are well-prepared ahead of the transition. We believe that this kind of proactive engagement is valuable not only for compliance readiness, but also for contributing meaningfully to our clients’ long-term success and sustainability.