KPMGINDONESIA

KPMGINDONESIA
KPMGINDONESIA
KPMG KPMGINDONESIA
KPMGINDONESIA
Indonesia KPMGINDONESIA
Profile KPMGINDONESIA
KPMGINDONESIA
SIDDHARTA WIDJAJA & REKAN

KPMGINDONESIA
KPMG ADVISORY INDONESIA
KPMG SIDDHARTA ADVISORY

KPMGINDONESIA
KPMGINDONESIA
KPMGINDONESIA
KPMGINDONESIA
KPMGINDONESIA
KPMGINDONESIA
KPMGINDONESIA
kpmg.com/id

KPMGINDONESIA
Table of contents
About KPMG 1
KPMG Indonesia 2

Our lines of business 3

Our services 4

Audit and Assurance 5

Tax 6
Advisory 8

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
 About KPMG
KPMG is a global network of develop, and everyone is given
professional firms providing the opportunity to be the best
Audit, Tax and Advisory services. they can be. This approach gives
We operate in 155 countries and our organization an invaluable
have more than 174,000 people depth and breadth, helping us
working in member firms around provide clients with a broad
the world. The independent range of perspectives, ideas and
member firms of the KPMG capabilities experience.
network are affiliated with KPMG
International Cooperative (“KPMG Good corporate governance is at
International”), a Swiss entity. the heart of what we stand for.
Each KPMG firm is a legally distinct We recognize we should always
and separate entity and describes be accountable for our actions and
itself as such. must maintain our independence
and objectivity. We are committed
Our people are drawn from many to promoting and embracing
different backgrounds and are constructive reform and to helping
united by a set of shared values. clients follow good business
They work in an environment practices, while increasing value
where they can learn and for their stakeholders.

© 2016 Siddharta Widjaja

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KPMG Indonesia
KPMG Indonesia is: We recruit the best performers in Indonesia’s leading
• Siddharta Widjaja & Rekan universities and colleges, as well as overseas. Our
• KPMG Advisory Indonesia people development is enhanced by KPMG’s global
training platforms, providing access to industry
• KPMG Siddharta Advisory
training, technical skill building and instructions in
The registered public accounting firm of KPMG’s various methodologies through training
Siddharta Widjaja & Rekan, one of the first accounting courses in-house, as well as on an international and
firms established in Indonesia, was founded in 1957 regional basis.
by Drs. Basuki T. Siddharta.
We have over 70 Partners and Directors, some with
In 2002, the tax division was established as a well over 25 years of experience, supported by more
separate entity, now named KPMG Advisory than 800 members of our professional staff.
Indonesia. It provides business advisory services The principal languages used are English and
focusing on taxation and related business issues. Indonesian, supplemented by professionals who are
also fluent in written and spoken Dutch, German,
KPMG Siddharta Advisory was established in 1986 Japanese, Korean, Mandarin, Malay and several
to provide a wide range of advisory services to the Indonesian and Chinese dialects.
Indonesian and international business communities.
The partners and professional staff include
The Firm is one of the largest practices in the country, experienced professionals from Australia, Germany,
providing services to multinational corporations, joint Japan, Korea, Malaysia, Singapore, The Netherlands,
ventures and domestic companies operating in a Thailand, The United Kingdom and The United States.
wide range of business sectors. It is a resource for Some professionals hold specialist and advanced
local and international business oriented expertise in degrees in management, economics and finance.
Indonesia and provides access to the KPMG Global
Network. The Partners and staff of the Firm take an active
part in the affairs of the Indonesian Institute of
Accountants and the Indonesian Institute of Certified
Public Accountants.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
2 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
 Our lines of
business
Individual client attention is a fundamental aspect of the professional
services offered by KPMG Indonesia. While businesses in Indonesia
may face a number of similar issues, the optimal solutions are not
necessarily the same for each company or line of business. Our clients
are of various sizes, including multinational corporations, joint ventures,
domestic private and listed companies,state-owned entities and
individuals. Our industry expertise provides many benefits to our clients’
lines of business, which include:
• Automotive Products • Financial Services
• Banking • Health Care
• Building and Construction • Industrial Products
• Business Services • Insurance
• Chemicals • Natural Resources
• Communications • Plantations
• Consumer Products • Real Estate
• Electronics • Retail
• Energy • Transportation

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 3
 Our services
We provide Audit, Tax and Advisory services, individually or on a
combined basis, delivering globally consistent multi-disciplinary skills
and capabilities, based on extensive industry knowledge, to all of our
national and international clients.
We respond to our clients’ complex business challenges with a
global approach to services that spans industry sectors and national
boundaries. Global capability and consistency are central to the way we
work.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
4 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
 Audit and Assurance
Financial statement audits and other assurance services play a critical
role in creating and maintaining investor and capital markets confidence
and unlocking valuable insights into your business.
Financial Statement Audits
Integrity, quality and independence are the building blocks of KPMG’s
approach to audits.
We believe independent auditors perform the valuable role of being a
trusted intermediary between the providers and the users of financial
statement information.
Our audit is designed to give our clients:
• Fresh perspectives on opportunities to help enhance continuous
improvement in financial processes, controls, risk management and
corporate governance frameworks
• A clear and consistent focus on key issues across all worldwide and
local operations
• No-surprises reporting which meets clients’ deadlines
• A year-round, hands-on approach that aims to anticipate issues and
provides practical support in resolving them on a timely basis.
Assurance Services
We utilize our core audit and assurance skills to add confidence and
credibility to your internal and/or external reporting, processes, internal
controls and risk management frameworks.
We offer assurance over a broad range of information and activities of
our clients to:
• Help uphold trust by assuring the accuracy and completeness of the
information used by various entities and stakeholders.
• Add value beyond financial statement audits by providing assurance
over other business value drivers, such as governance risks, internal
controls and key performance indicators.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 5
 Tax
Taxation is a critical component of all business operations, and the
taxation system in Indonesia provides many unique challenges. Failure
to comply with often unclear laws and regulations can lead to significant
time commitments, professional fees and tax penalties. Progressive
and bottom line focused management has realized that taxes (direct
and indirect, domestic and international), must be viewed as a dynamic
item of cost, rather than a passive charge on profits. Effective tax-cost
management provides a distinct competitive advantage and requires the
application of the appropriate tax strategies, proactively identified and
surgically implemented.
An essential component in managing these costs is to retain business
oriented professional advisors who understand tax governance, have
specialized skills and deep industry knowledge, and can assist in
developing and implementing tax strategies as well as systems to
minimize tax risks.
Our tax advisory services are multi-jurisdictional and encompasses the
entire spectrum of direct, indirect and personal taxes. We, together with
other member firms spread across the globe, provide quality business
oriented national and international tax advice.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
6 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Our experienced tax professionals are drawn from a
wide number of countries and backgrounds. Industry
specialization, service line expertise and international
exposure, together with continual advanced training,
equips them to work with our clients and be their
professional tax advisors in a wide spectrum of
business matters.
Corporate, Business and Individual Tax Services:
• International Tax & Base Erosion and Profit Shifting
• Indirect Taxes & Customs
• Mergers & Acquisitions
• Transfer Pricing
• Taxation Services to Individuals
• Global Mobility Services
• Tax Controversy, Investigation and Litigation
• Tax Compliance
• Tax Transformation
Industry Specializations:
• Oil and Gas
• Mining
• Utilities
• Financial Services
• Industrial and Consumer Manufacturing
• Telecommunications
• Construction and Infrastructure Services
• E-Commerce
• Professional Services
• Shipping
• Hospitalization Services
• Airline Services

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 7
 Advisory
Our broad range of Advisory Services consist of:
• Management Consulting
• Risk Consulting
• Deal Advisory

Management Consulting
Today’s market realities offer businesses little choice but to embrace
change. Companies in almost every industry are challenged to
continually assess whether they have the management structure,
leadership skills, and overall workforce productivity to capitalize on
rapidly shifting business conditions and opportunities. Often companies
find they need new organizational models to foster a climate of
innovation,continuous improvement, and strong customer focus. At
all levels, they need people who can lead and contribute within those
models, and the guidance and support to make the transition to new
ways of doing business.
Improving business performance, turning risk and compliance efforts
into opportunities, developing winning strategies and creating,
enhancing and preserving value are at the core of what we do for
leading organizations everywhere. Our relentless execution helps our
clients get the job done right.
Our support begins at the earliest stages of a project or program.
We help our clients to build their business case justification, offering
indispensable tools and services around customer insights, market
research, business case development, stakeholder and value
management, as estimated benefits realization. In addition, we offer a
market leading approach to top-down planning, enabling our clients to
accurately size and cost their program of work.
Perhaps the single biggest cause of transformation failure is poor
planning, structuring, set-up and mobilization. Our large program
experience, Project Management Office and governance toolsets,
help our clients to create robust plans and to mobilize for successful
execution.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
8 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
An overview of each major service line within KPMG IT Enabled Transformation
Management Consulting is outlined below:
IT Enabled Transformation team within KPMG
Business Transformation Management Consulting assists organizations
in leveraging technology across platforms and
A large transformational project or program can signify environments to address specific objectives
new opportunities for an organization. It can also spell and help achieve business goals. We offer a
a multitude of pitfalls. Getting it right is critical. holistic, enterprise-wide approach to IT Enabled
At KPMG we provide the understanding and insight Transformation.
– together with the backbone of tools and software Some of our key services include:
– to help our clients safely and adeptly navigate the
transformation journey. Whatever the sector, function • IT Strategy and Performance
or geography, we can help organizations to avoid the • Enterprise Architecture
major causes of failure.
• ERP Advisory and Implementation Services
Most transformations are relentlessly complex • Digital & CognitiveTechnology
whether they involve rolling out an incubated business,
undertaking a major platform upgrade or implementing • Financial Services Technology Solutions
a major policy reform. Delivery can be fraught with • Analytics
replans and unexpected major budget impacts.
To help clients avoid these pitfalls, we have a core set IT Governance & Cybersecurity
of project managers and directors who work with all of In today’s digitally driven world, information
KPMG’s service networks to assemble the right team, security is a foundation for business growth and
the right approach and the right delivery capability for sustainability. Safeguarding ever-increasing volumes
any given transformational project or program. of valuable corporate data against unauthorized
Some of our key areas of service include: access, disclosure or misuse – especially as threats
from cyber criminals grow in scale – has become
• Customer Experience integral to maintaining operations and meeting
• Organization and Human Capital Management increasingly vigorous data privacy compliance
requirements.
• Finance Management
• Supply Chain and Procurement KPMG help leading organizations worldwide
effectively manage and protect their most valuable
• Shared Service and Outsourcing data across a broad spectrum of evolving threats
• Post Merger Integration and scenarios. We approach cybersecurity not as
• Change Management a one-time project, but rather an adaptive strategy
aligned to your business goals and focused on
delivering long-term value for your business.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 9
Risk Consulting Accounting Advisory Services (AAS)

As the business and regulatory landscape continues AAS professionals work with clients to address
to evolve, organizations face unprecedented compliance, provide advice on how they might
emerging and systemic risks including digitization, improve the speed, processes and quality of
globalization, increased regulations and stepped up financial reporting, as well as ensure that accounting
global enforcement. Business leaders are challenged operations match the objectives of the business.
to balance the pursuit of corporate performance
Board Advisory Services (BAS)
objectives while maintaining compliance with
regulatory requirements. As a result, many BAS supports Boards to understand their corporate
organizations are seeking answers that will help governance responsibilities and improve their
them align corporate strategy and culture to protect performance and governance standards. We equip
financial and reputational assets, as well as enhance Commissioners and Directors with the tools needed
business value. They recognize that, in both the short to tackle the key issues impacting their ability to drive
and long term, successful companies will be those strategy and governance. BAS offers a selection
that can manage risk, drive business performance of services including Board training, corporate
and achieve regulatory compliance in an environment governance structures and disclosure reviews,
in which these outcomes must be managed Board performance evaluations and Board assurance
strategically and with agility. frameworks.
Establishing and embedding a holistic governance Climate Change & Sustainability Services (CC&S)
framework that aligns governance, risk and
compliance within organizations is an essential CC&S practice provides clients with insights and
requirement for long term success. KPMG strategies to manage the business implications of
Risk Consulting is a multi-disciplinary team of sustainability and climate change while embracing
professionals specializing in governance, risk foreseeable changes and trends in environmental
management and internal controls for clients regulations. Our team can also assist companies to
across all sectors. We have the right methodology, invest wisely in energy efficiency, renewable energy
credentials, attitude and team to help companies stay and trusted carbon offset and trading schemes and
on track and deal with risks that could unhinge their to choose appropriate approaches to corporate
business survival. Our team can assist by: sustainability reporting.

• Cutting through the complexity of regulations in Contract Compliance Services (CCS)

various jurisdictions
CCS focuses on the exercise of contractual audit rights
• Sharing insights on how other organizations have in business agreements. In exercising these audit rights,
approached similar challenges the parties introduce KPMG as an independent party
whose objective is to obtain evidence of compliance, or
• Provide a structured approach, utilizing KPMG otherwise, by the contracted party with specified terms
better-practice frameworks where relevant, to of the agreement. We do this in such a manner as to
help dissect complex challenges and deliver protect our clients’ interests and to recover funds due
solutions within agreed timeframes. to them while aiming to improve underlying business
relationships.
An overview of each major service line within KPMG
Risk Consulting is outlined below:

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
10 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
Enterprise Risk Management (ERM) Policy and Process Governance (PPG)
Our objective is to help your organization to drive Having effective policies and processes within an
desired risk behaviors, fostering ERM adoption and organization is key to unlocking the potential of
ultimately enhancing your organization’s ability to make its value chain, responding to constantly changing
risk decisions in the context of your existing and future business dynamics and managing risk exposure.
risk management capabilities. We assist organizations Our PPG services aim to assist your organization to
to develop their ERM vision and implement their overcome various challenges and obstacles and help
ERM transformation programs to further link risk you realize the benefits of effectively managing your
management and decision-making at both strategic policies and processes.
and operational levels. Throughout the various ERM
maturity stages, we deliver a broad range of services Financial Risk Management (FRM)
to integrate and improve the overall performance of Global concerns about financial risk have been
ERM including risk governance structures and policies, increasing. In this climate, firms of all kinds and
risk strategies and appetite, risk assessments, risk sizes are looking to develop robust financial risk
management training, risk culture assessments and management frameworks that satisfy compliance
risk management framework reviews. demands, contribute to better decision-making and
Financial Services Regulatory Compliance (FSRC) enhance performance.

Our dedicated FSRC unit is comprised of KPMG Financial Risk Management professionals
professionals with broad-ranging experience in can help by showing organizations how to turn risk
advising and working with financial institutions. into opportunity and drive sustainable business
Leveraging our insight and understanding of the value. Working with professionals from KPMG
regulatory requirements of the financial services International’s network of member firms, we offer a
industry, we are able to assist you in understanding broad range of financial risk management services to
and responding to the increased regulatory scrutiny help international banks, insurance companies, asset
that banks and other financial institutions are facing. managers, and corporate and public clients identify,
Our team will work closely with your organization to assess, manage, report and limit the risks they face.
deliver customized, practical and realistic solutions In working with Indonesia and international clients,
and recommendations. we highlight concerns and help improve processes,
Internal Audit Services (IAS) governance and strategy related to risk.

IAS is focused on supporting our clients’ leadership

agenda in the achievement of overall corporate
objectives, while maintaining an independent and
valuable voice in assisting both the audit committee
and management to balance the governance and
growth agenda. Our professionals are adept in
identifying and evaluating risks and are trained to
think like business managers who maintain a focus
on business objectives, rather than just the audit
universe. Our team is experienced in delivering a range
of IA services including outsourced and co-sourced
IA, quality performance reviews of the IA function,
focused internal control reviews and data analytics.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 11
Deal Advisory the complexities of buying a business, unlocking value
at every stage. We think like an investor to help you:
Our Deal Advisory team in Indonesia has been
operating in the market since 1997, and includes • Develop an effective acquisition strategy
dedicated international specialists and Indonesian • Identify and prioritize potential acquisitions
practitioners, with combined experience of over 800
deals. • Conduct accurate business valuations
• Develop and execute implementable solutions
Business today is under more pressure than ever
to deliver better, lasting results for stakeholders. • Deliver real results when you buy a business.
At KPMG, we think like an investor, looking at how
Sell - Selling a business
opportunities to buy, sell, partner, fund or fix a
company can add and preserve value. If you are considering selling a business, KPMG’s
integrated team of specialists works with you to
Today’s deals do not happen in a vaccum. So from
ask and answer the right questions throughout the
your business strategy to your acquisition strategy,
divestment process, from developing an exit strategy
your plans for divestments or for raising funds, or
that helps to maximize value to enhancing your
even your need to restructure, every decision must
retained business.
be made in light of your entire business, your sector,
and the global economy. When it comes to selling a business, a successful
strategy requires active portfolio management and
Our teams of specialists combine a global mindset
a well-planned divestment process. As an objective
and local experience with deep sector knowledge
third-party advisor, we can help you:
and superior analytic tools to help you navigate a
complex, fragmented process. • Analyze your business portfolio to maximize
shareholder value
From helping to plan and implement strategic change
to measurably increasing portfolio value, we focus • Assess exit strategies
on delivering tangible results. The kind of results that
let you clearly see what you gained from the deal at • Prepare the business for exit
hand, and what you want to bring to the next deal
• Execute an efficient divestment process
down the road.
• Mitigate transaction risks
Buy - Buying a business
• Enhance your retained business.
If you are considering buying a business, KPMG’s
integrated team of specialists helps you ask and Fix- Fixing a business
answer the right questions throughout the acquisition
life cycle, from developing the optimal acquisition When you need to solve financial difficulties and
strategy right through to delivering the expected improve corporate performance, KPMG’s integrated
value. team of specialists helps you prioritize issues and
focus on the right growth path. We function as a
As you execute your company’s growth strategy trusted advisor to help unlock value at every stage.
through acquisitions you will reach a number of
decision points. We help buyers confidently navigate

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
12 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
In this rapidly changing environment, every company A strategic approach to defining your capital financing
faces challenges. A step in the wrong direction can objectives and understanding your debt and equity
sometimes have significant effects on corporate financing options is essential to sustainable growth.
performance and company value. KPMG’s integrated We offer hands-on assistance through the process of
team of specialists can guide you through difficult raising capital, from initial assessment and strategy
times to deliver real results for your stakeholders. to successful execution. We can help you:
Turnaround • Determine funding objectives in the context of
your business and growth plans
Problems come in all shapes and sizes, often arriving
at the same time. To improve performance, you • Evaluate the optimal capital structure for your
need a trusted advisor who can help you prioritize business
the issues and focus on the correct growth path,
unlocking value at each stage. • Identify potential sources of capital and key
structuring objectives
Financial Restructuring
• Approach the market and negotiate key
When a company is experiencing financial difficulties, commercial terms
stakeholders often look for additional information
or resources to help rebuild their confidence. We • Develop ongoing transaction-based shareholder
can help you understand the complex landscape of and lender communication strategies.
borrowers, lenders and shareholders and manage
stakeholder communications, so you stay in front of Partner - Joint Ventures and Alliances
the issues and make the best decisions. Creating and setting up a successful joint venture or
Solvency Strategies business alliance involves specialized skills. KPMG’s
joint venture experts can support you from pre-deal
When a company is in distress, the management strategy through to implementation and governance
team faces many competing challenges. We help you as you:
assess the situation and, if necessary, assist you with
developing an actionable insolvency plan. Working • Develop an effective strategy and business plan
with you and your stakeholders, we help identify the • Identify the market opportunity and potential
growth path that will maximize available value. partners
Fund - Raising capital • Appraise the options and design the partnership
Optimizing your capital structure is essential to • Execute the deal and plan the implementation
sustainable growth. KPMG’s integrated team of
specialists guides you through the process of raising • Power up your joint venture or business
capital in both the debt and equity markets, from combination
initial assessment and strategy through to successful
execution.

© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG Indonesia Profile 13
Contact us
Siddharta Widjaja & Rekan
Audit Services
T: + 62 (0) 21 574 2333 / 574 2888
F: + 62 (0) 21 574 1777 / 574 2777

KPMG Advisory Indonesia

Tax Services
T: + 62 (0) 21 570 4888
F: + 62 (0) 21 570 5888

KPMG Siddharta Advisory

Advisory Services
T: + 62 (0) 21 574 0877
F: + 62 (0) 21 574 0313

Address:
33rd Floor Wisma GKBI
28, Jl. Jend. Sudirman
Jakarta 10210
Indonesia

kpmg.com/id

The information contained herein is of a general nature and is not intended to address the circumstances of any
particular individual or entity. Although we endeavour to provide accurate and timely information, there can be
no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate
in the future. No one should act on such information without appropriate professional advice after a thorough
examination of the particular situation.
© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member
firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative
(“KPMG International”), a Swiss entity. All rights reserved.
The KPMG name and logo are registered trademarks or trademarks of KPMG International .
© 2016 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG network of
14 independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.