What is happening in Indonesia?
FCGI Publication 2006

In Indonesia, efforts have also begun to improve corporate governance. A detailed timetable for improvements is an important part of the Letter of Intent signed by Indonesia and the IMF, and continued financial assistance from the IMF is contingent on improved corporate governance.

The National Committee on Corporate Governance is recommending, initiating and monitoring improvements in corporate governance in Indonesia. It has indicated ten key areas in which reforms are necessary, and it has drawn up a Model Code of Corporate Governance that companies can use in implementing corporate governance.

In addition, an initiative from private sectors through several business and professionals associations has formed Forum for Corporate Governance in Indonesia (FCGI). The Forum was established by 5 (five) business and professionals associations that up to now the number of associations joining FCGI has become 10 business and professionals associations. Furthermore, there are institutes specializing in corporate governance, i. a.: Institute for Corporate Governance and Institute for Corporate Directorship.