OSI | FRSpro

The vision of the project:

To comply with Bank Indonesia regulation (IFRS locally referred as PSAK). Given timeline from Bank Indonesia: PSAK become effective starting 1 Jan 2010 for Conventional banking & 1 Jan 2014 for Islamic Banking IFRS implementation first priority on loan products.

The challenges:

Begin with the end in mind
Source: Habit 2, Stephen R. Covey
IFRS is a new experience for Indonesia banking industry and regulator
IFRS needs high investment in IT infrastructure (hardware and software)
Business process changes in Risk, Accounting and Operation
Investment on human capital development
Business strategy, every new business strategy related to financial instrument needs to be natively comply with IFRS

oxide systems indonesia | frspro

oxide systems indonesia | frspro