Indonesia's Financial Services Authority (OJK) has extended the deadline for insurance companies to submit audited financial reports under Financial Accounting Standards Statement (PSAK) 117, citing the need for additional implementation time among some insurers.
The new deadline is 30 June 2026.
The regulator said the reporting relaxation was introduced as several companies continue to face challenges in fully adopting the accounting standard, particularly in terms of internal preparedness and system adjustments.
During 2025, Indonesia’s insurance industry has generally begun adapting to and implementing PSAK 117 in the preparation of financial statements. However, the implementation process at some companies has yet to reach optimal levels, according to the regulator, reported Kontan.co.id.