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ITB Achieved Unqualified Opinion in 2019 from PwC Audit Result
April 23, 2020 - ( update : 20-05-2020 )
*Photo illustration: Freepik
BANDUNG, itb.ac.id - Institut Teknologi Bandung received an Unqualified Opinion based on the results of the audit conducted by PwC (PricewaterhouseCoopers). This was announced by the PwC Team Report to the ITB Board of Trustees (MWA), on Wednesday (4/22/2020).
The audit was carried out by the PwC Team since the end of 2019. One day before the announcement, the Closing Meeting was held through Google Meet. This Closing Meeting was attended by the Chancellor, University Secretary, Vice Chancellor, Deans of 12 Faculties/Schools, and 27 Work Unit leaders at ITB, on Tuesday (4/21/2020). It certainly was also attended by the Chairperson, Secretary and Expert Staff of the ITB MWA Audit Committee.
Unqualified opinion states that the financial statements present fairly, in all material respects, the financial position, results of operations and cash flows of certain entities in accordance with generally accepted accounting principles in Indonesia.
Responding to this achievement, the Head of ITB Internal Supervisory Unit, Prof. Hendra Gunawan said that maintaining ITB better was a joint challenge for the future. He hopes that ITB can always maintain its accountability, both in academic and non-academic activities, especially those related to finance, assets, and staffing. "The Internal Supervisory Unit is the goalkeeper who must not be careless or tired in maintaining ITB accountability, together with the unit leaders in the ITB environment," he said.
Prof. Hendra said, since becoming a legal entity, ITB has autonomy in its management. Despite that, ITB must still maintain its accountability. Related to finance, ITB prepares financial reports in accordance with applicable accounting standards, and it has to be audited by a public accountant appointed by the ITB MWA Audit Committee.
"The opinion of the public accountant is the measurement of how accountable ITB financial management is. Before 2007, the audit opinion was Disclaimer. In 2007, the audit opinion improved to Qualified Opinion. Well, since 2008, ITB has always received the Unqualified Opinion, "said Prof. Hendra when interviewed by ITB Public Relations reporters, on Thursday (4/23/2020).
He further said, in the last two years, the Audit Committee appointed PricewaterhouseCoopers Public Accountant Firm to audit ITB's financial statements. Last year, PwC gave the Unqualified Opinion. This year, PwC audited ITB's financial statements again, and they were certainly looking more closely at ITB's financial statements, including the recording of ITB's assets and supporting IT systems.
"There is a change of leadership this year, both at the central level, directorates and units, so the audit process becomes increasingly thrilling. However, with hard work and good cooperation between the audited units, Internal Control Unit, ITB Leaders, and Audit Committees, along with the PwC Team itself, we can finally prepare financial reports on time and in accordance with applicable standards. Thus, on April 22, 2020 PwC gave the Unqualified Opinion which means reasonable in all material matters,” he explained.
However, there is always room to improve by ITB. From the Closing Meeting on April 21, 2020, the Chancellor said that ITB is committed to following up the PwC’s recommendations, both related to the reliability of the internal control system and compliance with applicable laws and regulations. In that case, the internal control unit has the duty to coordinate and monitor the implementation of the follow-up plan.
Meanwhile, ITB Deputy Chancellor for Finance, Planning and Development ITB, Muhamad Abduh, Ph.D., on the same occasion expressed his gratitude to all those who worked hard to achieve the Unqualified Opinion of ITB's financial audit. "Hopefully this kind of performance, which from year to year has become our task, can be maintained and getting better," he said.
Abduh further said that ITB will create an exclusive team to follow up on some notes that still occur and need to be corrected as conveyed by the Chancellor during the Closing Meeting with the PwC public accounting firm.
Reporter: Adi Permana
Translator: Evita Sonny
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