20241011_IBFN_Perubahan Profesi Penunjang_31735625_lamp2.pdf

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

In accordance with the matter as explained in preceding paragraphs, we as an independent public
accountant propose the services to perform attestation procedures on the KPPK Report of Guarter IV in
2015 which previously had been submitted by the Company to BI. KPPK Report that has been through
attestation procedures resulted from agreed-upon procedures between us and management of the
Company. Those agreed-upon procedures, as refer to the Appendix II of BI Circular Letter No. 17/3/DSta
dated 6 March 2015 “Reporting on Prudential Principles Activities in Offshore Debt Management for
Nonbank Corporation”, are as follow:

General Procedures

(1) Through walkthrough and interview procedures, we Shall make documentation for all process and
supporting system related to the Company's reporting obligation to BI which comprise on how the
Company identify its foreign currencies transactions as well as its compliance with the related BI rule
and regulation.

(2) Based on general ledger and/or details of assets and/or current liabilities and off-balance sheet of
foreign currencies held by the Company:

-  Compare the amount of assets and/or current liabilities and off-balance sheet of foreign currencies
as shown in the KPPK report with the amount in general ledger and/or details.

-  Compare the amount of assets and/or current liabilities and off-balance sheet of foreign currencies
as shown in the column of the period up to next 3 months and period of next 3-6 months in the
KPPK report with the amount in general ledger and/or details.

(3) Perform random test using the following sample:

Population £ Sample Population 2 Sample
2200 25 20 —49 5
100 - 199 20 10—19 4
50-99 10 10 2

(4) Perform mathematical calculations of translation on assets and/or current liabilities in currencies other
than USD using BI middle rate at the date of guarter report.

Additional Procedures

(1) For Current Accounts, Savings and Deposits

a. Perform random test on general ledger and/or details of current accounts, savings and deposits in
foreign currencies by send confirmation or check to its bank statements/deposit certificates.

b. Compare the confirmation result or bank statements/deposit certificates with the amount of current
accounts, savings and deposits in foreign currencies as shown in the KPPK report.

c. Perform examination to the bank reconciliation if there is a difference between the amount of
current accounts, savings and deposits which are recorded in general ledger with the confirmation
result or its bank statements/deposit certificates.

2| PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

(2) For Marketable Securities

a.

Perform random test on general ledger and/or details of marketable securities in foreign currencies
by send confirmation or obtain a report from broker/custodian or its purchase supporting document
on marketable securities at end of guarter report date.

Compare the confirmation results or statement from the broker/custodian or purchase supporting
document on marketable securities with the amount of marketable securities in foreign currencies
as reported in the KPPK report.

Perform random test on general ledger and/or details of marketable securities in foreign currencies
that are classified as fair value through profit or loss or available for sale, by comparing the fair
value of the marketable securities based on its guoted market price from active market with the
amount in the KPPK report.

(3) For Trade Receivables

a

Perform random test on general ledger and/or details of trade receivables by tracing to the sales
supporting documents to ensure, among others:

1) Classification of receivables (Resident and non-Resident)

Trade receivables which are calculated as monetary assets in foreign currencies are:

a) trade receivables from non-Resident,

b) trade receivables from Residents as long as its contract or agreement had been signed
before 1 July 2015, and

6) trade receivables from Residents which its contract or agreement had been signed after
1 July 2015 as long as it relates to strategic infrastructure projects and obtained an
approval from BI. Strategic infrastructure projects must be evidenced by an official letter
from the athorized ministry or institution.

2) By nature, the transaction is non-consignment and non-refundable.
Compare the amount on general ledger and/or details of provision for impairment of trade

Receivables both from Residents and non-Residents with the amount of trade receivables as
reported in the KPPK report.

Perform random test on general ledger and/or details of trade receivable by tracing to the sales
supporting documents in order to check the appropriateness of sales cut-off within 5 (five) days
before and five (5) days after the date of guarter report.

(4) For Inventories

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Obtain general ledger and/or details on export sales in 1 (one) prior calendar year and perform
mathematical calculation on the ratio of export sales to total sales, then compare that ratio with the
ratio as reported in the supporting documents of the KPPK report.

Perform random test on general ledger and/or details of export sales by tracing to the sales
supporting documents.

Compare the amount on general ledger and/or details of the provision for impairment of inventories
with the amount of inventories as reported in the KPPK report.

Perform random test on general ledger and/or details of inventories by tracing to the purchase
supporting documents in order to check the appropriateness of purchase cut-off within 5 (five) days
before and five (5) days after the date of guarter report.

PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

(5) For Loans and Borrowings

a. Perform random test on general ledger and/or details of Ioans and borrowings in foreing currencies
by send confirmation or do verification on loan and borrowings agreements, loan and borrowings
withdrawal transactions, payment transactions and other supporting documents.

b. Compare the results of confirmation or verification on the agreement, the withdrawal transactions,
payment transactions, and other supporting documents with the amount of loans and borrowings
in foreign currencies as reported in the KPPK report.

c. Perform random test by tracing to its supporting documents in order to check the appropriateness
of maturity classification of loans and borrowings in foreign currencies as reported in the KPPK
report.

d. Obtain supporting documents of loan that shall due but not accounted as liabilities in foreign
currencies due to the rollover, revolving, or refinancing process, including the notification from
creditors, as well as examine the appropriateness of the date of supporting documents which its
supporting documents must be obtained before end of guarter report.

(6) For Trade Payables and Other Current Liabilities

a. Perform random test on general ledger and/or details of trade payables and other current liabilities
(other monetary liabilities) in foreign currencies by send confirmation or tracing to its supporting
documents.

b. Perform random test in order to check the appropriateness of payment cutoff of trade payables and
other current liabilities in foreign currencies within 30 (thirty) days after guarter report date by
tracing to its supporting documents to ensure that such trade payables and other current liabilities
have been reported in the KPPK Report.

(7) For Off-balance Sheet Transactions

a. Perform random test on the details of off-balance sheet that are reported as foreign currency assets
in the KPPK report by tracing to its supporting documents in order to examine:

1) Forward transactions, swaps, and/or option in foreign currencies has been presented at
notional amount and ciassified in accordance with the remaining maturity period, started from
end of guarter report date.

2) The invoice of hedging transaction which carried out in the prior reporting period is considered
as the foreign currency assets for the current reporting period

3) The invoice of hedging transaction which carried out in the current reporting period is not
considered as foreign currency assets in the current reporting period.

4) The invoice of hedging transaction which carried out with banking outside of Indonesia since
1 January 2017 is not considered as foreign currency assets.

5) Contract value (notional amount) from foreign currencies purchase transactions that are
nondeliverable such as NDF (Non-deliverable Forward) and NDS (Non-deliverable Swap) are
not considered as foreign currency assets.

b. Foreign currency transactions as option can only be recognized as foreign currency assets if the
Company enable to execute its right to buy foreign currencies that arise from the transaction at
reporting date. Perform random test over the details of off-balance sheet that are reported as
foreign currency liabilities in the KPPK report by tracing to its supporting documents to examine:

1) Obligations on forward transactions, swaps, and/or option in foreign currencies has been
presented at notional amount and classified in accordance with the remaining maturity period
which started from end of guarter report date.

2) Contract value (notional amount) from non-deliverable selling foreign currencies transactions
such as NDF (Non-deliverable Forward) and NDS (Non-deliverable Swap) are not considered
as foreign currency liabilities.

4| PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

3) Foreign currency transactions as option can only be recognized as foreign currency liabilities
if the Company enable to execute its right to sell foreign currencies that arise from the
transaction at reporting date.

(8) Fulfillment for the Minimum Hedging Ratio and Liguidity Ratio

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a.

Perform random test over hedging activities which can be recognized as fulfillment of the minimum
hedging ratio by tracing to the supporting documents to ensure, among others:

1) Hedging activities that can be recognized as fulfillment of the minimum hedging ratio are:

a) Hedging which carried out during the current reporting period, and
b) Hedging which carried out at the prior reporting period which has been considered as
foreign currency assets.

2) Hedging activities that carried out with banking outside Indonesia since 1 January 2017 is not
recognized as fulfillment of the minimum hedging ratio and liguidity ratio

3) Minimum hedging ratio fulfillment activities can also be met through non-deliverable foreign
currencies transactions.

4) Option transaction that does not cover the entire foreign exchange risk (partially hedged), such
as call spread option transaction, is not considered as fulfillment the minimum hedging ratio.

Obtain a list of adjustments prepared by the Company on the Auarter IV of KPPK report which
previously has been submitted to BI and check whether those adjustments have been posted in
the corrected KPPK Report.

Perform mathematical calculations to recalculate Hedging and Liguidity Ratios on the corrected
KPPK report.

1) Hedging Ratio

a) Minimum hedging ratio is 2596 (twenty five percent) For the period of 2015, minimum
hedging ratio is 2096 (twenty percent).
b) Fulfillment of minimum hedging ratio is calculated from:

i. Negative differences between foreign currency assets and liabilities, which shall due
up to the next three (3) months from end of guarter report date, and

ii. Negative differences between foreign currency assets and liabilities, which shall due
more than the next 3 (three) months up to six (6) months from end of guarter report
date

c) Particular for certain company that exempted from the fulfillment of minimum hedging ratio,
ensure that the Company has a permission from the Ministry of Finance to maintain its
bookeeping in USD and has ratio of export revenue to total revenue exceed than 504 at
prior calendar year.

2) Liguidity ratio

a) Minimum liguidity ratio is 70Yo (seventy percent). For the period of 2015, the minimum
liguidity ratio is 50Y4 (fifty percent).

b) Fulfillment of minimum liguidity ratio is calculated from the total of foreign currency assets
and hedging transactions undertaken during the current reporting period, divided by total
foreign currency liabilities which shall due up to three (3) months from the report date.

PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

Deliverable

Report on Applying of Agreed-upon Procedures comprises the results and findings from the agreed-upon
procedures that we have performed. This report shall contains the statements that:

(1) Procedures that we performed solely to assist the specific user of the report to evaluate the assertion
of management ofthe Company in accordance with its compliance to BI regulation as abovementioned
(2) The sufficiency of these procedures is solely the responsibility of those parties specified in this report,
and we make no representation regarding to the sufficiency of such procedures,
(3) Procedures that we applied are not an complete audit based on Standards on Auditing established by
the Indonesian Institute of Certified Public Accountants (IAPI), accordingly we do not express an
opinion on management assertion. Had we performed additional procedures or we do audit on financial
statements based on Standards on Auditing established by IAPI, other matters might have come to our
attention that would have been reported to management of the Company.
This report is intended solely for the use of the Company and the specific user of report and is not
intended to be used for other purposes by the parties whom do not agreed with such procedures and
not responsible fo the suffiencey of such procedured to attain their objective.

“4

Management Representation Letter

As part of this assignment, we need a written representation letter from management of the Company for
the entire completeness, faithfulness and accuracy of data, schedule, report, records and information that
provided to us pertinent to this assignment.

Schedule of Assignment

We will perform this assignment as expeditiously as possible upon the approval of this assignment letter
by management of the Company. Our schedule shall be syncronized with the readiness and consider
coordination with management of the Company.

Staff Assistance & Corperation

Your accounting personnel will assist us and cooperate in the timely preparation of trial balances,
schedules, account analyses, records, documentation and other related information and provide clerical
assistance as needed. We wish to emphasize that there are no limitation access to any records,
documentation and other related information which are reguested by us in relation to this assigment, and
that our ability to complete this work punctualy will depend largely on the availability and guality of the
reguired information and documents.

Professional Fees

Our professional fees for the this assignment is IDR25,000,000 (Exclude VAT).

That professional fees based on assumption that we had the sufficient support and assistance from the
staff of the Company in providing documents and other data as we reguested.

The foregoing professional fees will be billed by us as follow:

“First billing, upon approval of this proposal 50Yo
» Final billing, upon submission of the final draft report 50Yo

Traveling, transportation, photocopy, mailing, courier, accommodation, telecommunication, rapid test, swab
PCR, swab antigen and other out of pocket expenses (OPE) incurred in for this assignment, is exclusive
from our professional fees. Total of OPE is IDR100,000 per staff per day include with its Value Added Tax
(VAT) shall be borned by the Company.

We will provide you 1 (one) copy of the KPPK report. Any additional copies of the KPPK report will be
charged amounting to IDR500,000 per copy.

6 | PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK

PKF
Paul Hadiwinata, Hidajat, Arsono,
Retno, Palilingan & Rekan

Know Your Client Principle (KYCP) and Consent

In connection with the enactment of the Regulation of the Minister of Finance of the Republic of Indonesia
No. 55/PMK.01/2017 dated April 17, 2017 regarding the Know Your Client Principle for Accountants and
Public Accountants as amended by Regulation of the Minister of Finance of the Republic of Indonesia
No. 155/PMK.01/2017 regarding the Amendment to the Regulation of the Minister of Finance
No. 55/PMK.01/2017 regarding the Know Your Client Principle for Accountants and Public Accountants
dated November 6, 2017 and Circular Letter No. SE-7/PPPK/2019 regarding Guidelines for Implementing
the Know Your Client Principle for Accountants and Public Accountants dated November 29, 2019, which
reguires Public Accountants to apply the Know Your Client Principle (KYCP), we hereby inform you that
we will implement KYCP procedures in accordance with those regulations.

Therefore, you hereby express your consent for us to implement and perform the KYCP
procedures,including fullfil PMPJ-Related Business Relations Form ,and reguired supporting documents
as.appendix to the engagement letter.

Other Services

Other services that not included in our scope of assignment, as above-mentioned, shall be prepared in
the separate letter.

Maximum Liabilities

The Company agrees that our maximum liability, to the Company for any reason, including our negligence,
relating to the services under this letter shall be limited to the fees paid to us for the services or work product
giving rise to liability.

Acknowledgment & Acceptance

Please confirm your approval with the foregoing by signing the duplicate copy of this letter and returning it
tous.

We are pleased to have this opportunity to provide you with our best services and assure you that this
assignment will be given our closest attention.

Yours faithfully,

KAP Paul Ha
Kp Kr
Paul Hadiwinata, Hidayat, Arsono,

Retno, Palilingan & Rekan
Registered Public Accountants

jan & Rekan

Gan

Nancy Rameli, CPA
Partner

The terms of this engagement are accepted by Board of Directors on behalf of PT Intan Baru Prana Tbk,
who represents that he is authorised to accept and bind these terms.on behalf of PT Intan Baru Prana Tbk.

Director

PT napbar Hina Tok

Date: H Oktober 2024

7 | PT Intan Baru Prana Tbk
Engagement Letter-AUP-KPPK