Accountability of the Financial Services Authority in Indonesia, Australia, Germany, France and Japan

The FSA is tasked with ensuring that by implementing IFRS, companies are expected to prepare financial statements that reflect relevant, reliable information and allow stakeholders to make better decisions. IFRS covers various aspects of accounting, including recognition, measurement, presentation and disclosure of financial information. These standards provide guidance on how certain business transactions should be recognized in the financial statements, how to measure the value of assets and liabilities, and how to present the information in a clear and structured manner. The type of research is normative, with a statutory approach, conceptual approach and comparative approach. The results show that OJK does not conduct financial reporting in accordance with International Financial Reporting Standards (IFRS), so OJK must improve its financial reporting. The conclusion of this research is that OJK needs to improve the transparency, accountability, and quality of its financial reporting to ensure the fulfillment of obligations to the public and authorities with the Indonesian Financial Services Authority (OJK) can take some valuable lessons from the advantages possessed by the Japanese Financial Services Agency (FSA) in various aspects of financial sector cooperation and supervision.