?? Important Update on Indonesia’s mandatory annual legal audits The Indonesian government has introduced a draft Presidential Regulation on Legal Compliance in the Formation and Implementation of Law, requiring annual legal audits for businesses, entities, and institutions. The aim is to strengthen compliance and governance by: ? Assessing adherence to laws and regulations ? Identifying legal issues and recommending corrective actions ? Reporting findings and remedial actions to authorities by year-end ? Imposing sanctions for non-compliance In this legal update, our Indonesian member firm, Assegaf Hamzah & Partners, provides an overview explaining how businesses and institutions should enhance their compliance practices to prepare for the regulation's enforcement. ?? Follow us on LinkedIn to stay updated on all the latest legal updates! ?? Read our latest legal update here: https://lnkd.in/gknFjQTP Learn more about Assegaf Hamzah & Partners here: https://www.ahp.id/ Ahmad Fikri Assegaf: https://lnkd.in/gkVUC-aP Angelica Ayu Maharani: https://lnkd.in/g2HzUY3w Andin Aditya Rahman: https://lnkd.in/gpPEZ2_Q #AHPClientUpdate #AHP #LegalAudit #PresidentialRegulation #Regulations #Draft #Business #Indonesia #LawyersWhoKnowAsia?
In today’s Client Update, Partners Ahmad Fikri Assegaf, Angelica Ayu Maharani, and Senior Associate Andin Aditya Rahman highlight the Indonesian government’s recently released draft Presidential Regulation on Legal Compliance in the Formation and Implementation of Law (“Draft Regulation”), which introduces mandatory annual legal audits for businesses, legal entities, and public institutions. This Draft Regulation aims to strengthen legal compliance and governance by requiring certified auditors to assess and ensure adherence to laws and regulations, with a focus on identifying legal issues and recommending corrective actions. Entities must report audit findings and remedial actions to relevant authorities by the end of each year, with sanctions imposed for non-compliance. Businesses and institutions should begin enhancing their compliance practices now to prepare for the eventual enforcement of this regulation. Read the full update at https://lnkd.in/gknFjQTP Stay connected with Rajah & Tann Asia for Insights across Asia: https://lnkd.in/gGErinv #AHPClientUpdate #AHP #LegalAudit #PresidentialRegulation #Regulations #Draft #Business #Indonesia #LawyersWhoKnowAsia
