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Three publicly listed companies and three public accountants
have been subjected to penalties and fines by the country's capital
market watchdog for violating the regulations.
The Capital Market and Financial Institutions Supervisory Agency
(Bapepam) said Friday in Jakarta that the three firms were PT Teijin
Indonesia Fiber Corporation Tbk (TFCO), PT Arona Binasejati Tbk (ARTI)
and PT Mobil Sukses Internasional Tbk (IMAS).
The agency said that PT Teijin was fined Rp 370 million (about
US$3,9785) for a delay in submitting its accounts for the first half of
2004. The company had also failed to publish its accounts.
Meanwhile, PT Arona was found guilty of making a mistake in the
comments on its accounts. For this, the company received a written
warning from Bapepam.
Indomobil was fined Rp 500 million for not following the required
procedures when it extending a loan to an affiliate.
Bapepam also said that it had imposed penalties on three public
accountants for violating the capital market public accounting
regulation.
The agency said that the three accountants were Yahya Santosa, Jonnardi
and Bambang Sudaryono.
Yahya breached the regulation prohibiting a public accountant from
auditing the same listed company for three years consecutively.
Jonnardi also audited the same company for more than three years,
consercutively.
For these violations, Bapepam suspended the two accountants' practice
licenses for 12 months.
The other accountant, Bambang, was given a written warning for the
mistake in PT Arona's accounts, which he audited.
"Two of the accountants have been barred from performing audits for a
year, while the other one was given a written warning," the head of
Bapepam's legal division, Robinson Simbolon, said in a written
statement.
The watchdog has also issued a written warning to PT Pusako Tarinka for
hiring Yahya for more than three consecutive years to audit its books.
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