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Jakarta Post

Garuda asked to restate financial report

  • Riska Rahman

    The Jakarta Post

  /   Tue, June 25 2019   /  02:42 am

The Indonesian Public Accountant Institute (IAPI) has asked that state-owned airline PT Garuda Indonesia restate its 2018 financial report.IAPI chairman Tarkosunaryo told the press on Friday that he hoped the airline would publish a new and restated report as it was used by investors, stakeholders and the public to assess the company’s business and financial health.“It’s really important for the company to have a credible report, so we really hope that Garuda will restate its financial report,” he said in a forum in Jakarta.Previously, two Garuda commissioners refused to approve the 2018 financial report due to discrepancies they found in it. The company included in the report a US$239-million transaction made from a 15-year contract with PT Mahata Aeroteknologi to provide in-flight entertainment and Wi-Fi in the aircraft of Garuda subsidiaries Citilink Indonesia and Sriwijaya Ai...