Dangers of SOEs Ledger Manipulation

DISCLOSURE of Waskita Karya (WSKT) and Wijaya Karya’s (WIKA) doctored financial reports has the potential of bowdlerizing investor confidence in the credibility of public companies in the Indonesian Stock Exchange. The case has shown how even layered auditing does not guarantee the trustworthiness of ledger reports in the stock market. Without harsh sanctioning and a rehaul of the system by the ministry of state-owned enterprises (SOEs) and

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