Medan – On Wednesday, October 28, 2026, the Faculty of Law, Universitas Sumatera Utara (FH USU), in collaboration with the Agency for Legal Education and Development of State Audit (Badan Binbangkum) of the Audit Board of the Republic of Indonesia (BPK RI), hosted a legal discussion titled "Legal Aspects of Separated State Wealth Management under Law Number 16 of 2025." The event took place at the Dean's Conference Room, FH USU.

The discussion featured key speakers from FH USU, including Dr. Mahmul Siregar, S.H., M.Hum. (Dean of FH USU) and Dr. Mirza Nasution, S.H., M.Hum. (FH USU Legal Academic). Representing BPK RI, Agustinus Triyonojati served as a keynote speaker, accompanied by discussants Melisa Sekar Dhani, Shendy Marita, Wahyu Ida Arinta Togatorop, and Reza Fahrizal. Participants included BPK personnel from the Legal Development and Legal Assistance Service and Development Center (LPBH), Badan Binbangkum.

The management of separated state assets, particularly through state capital injection in state-owned limited liability companies, experienced significant legal evolution following the enactment of Law No. 1 of 2025 (amending Law No. 19 of 2003 on State-Owned Enterprises) and Law No. 16 of 2025. Both laws delineate Investment Holdings and Operational Holdings differently, including status and authorization for setting distinct mandate tasks.

These statutory shifts raise critical questions regarding the status of separated state wealth following capital injection into private/limited liability enterprises, the broader scope of state finance, and BPK's audit jurisdiction. These issues remain central to ongoing legislative deliberations on the State Finance Bill within the DPR RI.

The discussion explored three primary core issues:

  • The interpretation of separated state wealth equity placement in limited liability companies under Law No. 1/2025 and Law No. 16/2025 from State Administrative Law and Corporate Law perspectives.

  • The legal implications of regulatory updates governing Investment Holdings and Operational Holdings under Law No. 16/2025 regarding the scope of State Finance and BPK's audit authority.

  • Defining losses within State-Owned Enterprises (SOEs), including distinguishing parameters between business risk losses and state financial losses, along with accountability frameworks.

The forum delivered valuable insights from State Administrative Law and Corporate Law experts, serving as a key reference for BPK RI in formulating inputs for upcoming amendments to the Law on State Finance while reinforcing academic-institutional synergy between FH USU and BPK RI.

This collaborative discussion directly supports Sustainable Development Goals SDG 16 (Peace, Justice, and Strong Institutions) by promoting transparent state financial legal frameworks and strengthening institutional auditing capacity, SDG 17 (Partnerships for the Goals) by fostering institutional knowledge sharing between academic entities and state auditing agencies, and SDG 8 (Decent Work and Economic Growth) by supporting sound regulatory frameworks for state-owned enterprises and public financial management.