BPK Conveys Audit Results of the WMU’s 2021 Financial Statements at the 40th Session of the Board of Governors
JAKARTA, BPK Public Relations - As the external auditor of the International Maritime Organization (IMO), the Audit Board of the Republic of Indonesia (BPK) is invited by the World Maritime University (WMU) Board of Governors to virtually attend the 40th Session of the Board of Governors on Friday.
The WMU is an independent academic institution founded by the IMO in 1983 aiming at providing training related to maritime management, education and administration, especially for developing countries.
The presence of BPK in the meeting is as a form of the implementation of the International Standards on Auditing (ISA) 260 stating that the external auditor is required to communicate important issues found in the audit process to Those Charged with Governance (TCWG), in this case the WMU Board of Governors.
The BPK delegates led by Vice Chairperson Agus Joko Pramono includes Selvia Vivi Devianti, the Director of Public Relations and International Cooperation Bureau, R. Yudi Ramdan Budiman, the Deputy in Charge of the Audit, Nanik Rahayu, the Technical Controller, Rika Susanti, the Audit Team Leader and Adinda Aan Fertina, the Head of Multilateral Cooperation Subdivision.
The BPK Vice Chairperson conveys the audit results of the WMU's financial statements Fiscal Year 2021, mentioning that the Covid-19 pandemic has had an impact not only on the implementation of global programs and activities but also on WMU’s activities.
He explains that despite the many challenges, BPK had developed and implemented alternative audit procedures to ensure the high standard and quality of the BPK’s audit.
He mentions that the WMU’s 2021 financial statements obtains unqualified opinion for its adequate presentation according to the International Public Sector Accounting Standards and Financial Regulations and Rules owned by the WMU.
As part of the audit process, BPK also audits the WMU's internal control system, particularly the one used in financial management and reporting. Based on the audit, BPK provides several recommendations for improvements in four main areas, namely information technology management, previous audit findings, policies and implementation of human resources management and investment management.
It is noted that the WMU has a high rate of recommendations’ follow up showing that since 2016, there has been as many as 91% of audit recommendations have been completed. Therefore, on the occasion, BPK expects that the WMU Board of Governors to continue supporting the WMU Management in following up audit recommendations. It is important to measure the effectiveness of the audits carried out both by BPK and previous external auditors.
Meanwhile, WMU Chancellor Kitack Lim, President of the WMU Dr. Cleopatra Doumbia-Henry and the ranks of the WMU Board of Governors express their high appreciation for the BPK’s audit. It is expected that the recommendations can be fully implemented in order to improve the quality of the WMU's internal control system, governance and practices.