FERNBACH is proud and honoured to team up with BDO. We understand this to be in recognition of our convincing business proposition as one of the market leaders for International Financial Reporting Standards. We are keen to show banks in Indonesia how FERNBACH will be of help to them with their upcoming IFRS 9/PSAK 71 challenges.
FERNBACH is already a solution provider for several banks in Indonesia and has gained a lot of experience doing IFRS 9 projects in Europe and other parts of the world. FERNBACH’s value proposition is in particular based upon our FlexFinance Modelbank in combination with our “ready-to-go” implementation methodology that caters especially for price-sensitive customers who nonetheless aim to install and use a state-of-the-art IFRS 9/PSAK 71 application.
Indonesia will have to adopt an expected credit loss model instead of an incurred loss model on the 1 January 2020. This necessitates the application of several forward-looking scenarios which most local banks will have to develop from scratch. BDO Indonesia is supporting FERNBACH’s clients by acting as their local implementation partner. Partner Pak Yudhi Prasetyo and his team is convinced that the team up will have a significant added value for Indonesian customers as they will also be able to access FlexFinance in the cloud.
BDO Indonesia is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO Indonesia has served both domestic and international clients since 1992. The firm was founded by Mr. Richard B. Tanubrata on December 6th, 1979. As such, BDO is one of the oldest accounting firms in Indonesia with an in-depth understanding of local and global markets while providing audit, tax, and various advisories services in Indonesia.