The Debt Confirmation Letter Audit is a critical document used in Indonesian financial auditing processes to independently verify debt obligations. It is typically required during annual audits, specific financial investigations, or when preparing financial statements for regulatory compliance. The document serves as third-party verification of debt amounts, terms, and conditions, aligning with Indonesian Financial Accounting Standards (PSAK) and Public Accountant Professional Standards (SPAP). This confirmation process is essential for ensuring transparency and accuracy in financial reporting, particularly important in Indonesia's regulatory environment where the Financial Services Authority (OJK) and Bank Indonesia maintain strict oversight of financial transactions and reporting. The document is commonly used across various industries and is particularly crucial for companies with significant debt obligations or those subject to mandatory audit requirements under Indonesian law.
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1. Letter Header: Company letterhead, date, reference number, and addressing details of both the creditor and debtor
2. Subject Line: Clear indication that this is a Debt Confirmation Letter for Audit Purposes, including the relevant period
3. Opening Statement: Reference to the audit being conducted and the purpose of the confirmation letter
4. Debt Details: Statement of the total debt amount, interest rate, and other key terms as of the specified date
5. Request for Confirmation: Clear request for the recipient to confirm the accuracy of the stated information
6. Response Instructions: Clear instructions on how to respond, including where to send the confirmation and deadline
7. Authorization: Statement authorizing the recipient to provide the information to the auditors
8. Signature Block: Space for signatures of authorized representatives from both parties
1. Payment Terms Section: Include when there are specific payment arrangements or schedules that need to be confirmed
2. Collateral Details: Include when the debt is secured by specific assets or guarantees
3. Related Party Information: Include when there are related party transactions or guarantees involved
4. Dispute Declaration: Include when there is a need to confirm the absence/presence of any disputes regarding the debt
5. Compliance Statement: Include when there are specific regulatory compliance requirements to be confirmed
1. Schedule A - Debt Calculation Detail: Detailed breakdown of the principal amount, interest calculations, and any fees
2. Schedule B - Transaction History: List of all relevant transactions during the audit period
3. Schedule C - Payment Schedule: If applicable, detailed payment schedule for installment arrangements
4. Appendix 1 - Supporting Documents: Copies of relevant loan agreements or amendments referenced in the confirmation
5. Appendix 2 - Authorization Letters: Copies of authorization letters from the company to the auditor and bank/creditor
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Manufacturing
Real Estate and Property
Mining and Resources
Retail and Consumer Goods
Technology and Communications
Infrastructure and Construction
Agriculture and Plantation
Healthcare and Pharmaceuticals
Transportation and Logistics
Relevant Teams
Finance
Accounting
Treasury
Internal Audit
Compliance
Legal
Risk Management
Corporate Secretariat
Financial Reporting
Credit Control
Relevant Roles
Chief Financial Officer
Financial Controller
Audit Manager
Finance Director
Accounting Manager
Treasury Manager
Financial Reporting Manager
Corporate Secretary
Compliance Officer
External Auditor
Internal Audit Manager
Credit Manager
Account Representative
Financial Analyst
Risk Manager
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