Indonesia is striving to minimise the significant differences between IFRSs and IFASs gradually. Since 2012, the local standards applied in Indonesia are based on those IFRSs that were effective at 1 January 2009. However, some modifications were made. Indonesia will continue the convergence process by considering recent amendments, newer standards (eg IFRSs 9 to 13), and IFRS Exposure Drafts