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Now, let's turn our attention to **SAK IFRS (** ***Standar Akuntansi Keuangan International Financial Reporting Standards*** **)**, which is essentially the Indonesian adoption of the International Financial Reporting Standards (IFRS). These standards are developed by the International Accounting Standards Board (IASB) and are used by publicly listed companies and other entities with significant public accountability around the globe. Think of large corporations, multinational companies, and financial institutions – these are the entities that typically follow SAK IFRS.
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