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carrying out inventory and re-implementation by giving the task of reviewing Revaluation Report before it is submitted
by the ministries/goverment agencies to DG-SAM will improve the accuracy and validity of state-owned asset data. This
will strengthen the accountability aspect of the state-owned asset management by the government. The Government
Internal Supervisory Apparatus does not only review the financial statements of ministries/government agencies, in
which the results of the revaluation have been presented. Of course, it is necessary to ensure that The Government
Internal Supervisory Apparatus already has adequate SOP in conducting reviews of the results of the reassessment.

The implementation of the asset inventory policy that is not optimal is a contributing factor to the findings in the Audit
Report regarding the results of the state owned aset revaluation. Lack of understanding of Asset Users in the ministries/
government agencies must be a concern that has an influence on asset management problems by policymakers, in
this case, the State-Owned Asset Manager a.k.a DG-SAM. Therefore, it is necessary for the DG-SAM, as a policymaker, to
improve communication with goods users in the ministries/government agencies by holding regular workshops, short
courses, detailed explanations through social and electronic media, and supervision by Asset Users through regular
visits to the ministries/government agencies. Communication between users and Managers of the state-owned asset
has an important role to play in the entire asset management framework. This will later contribute to improving the
quality of the asset database for the better and will make it easier to optimize the use of the state-owned asset.

5. CONCLUSION

This study is to determine the main problems that occur in the implementation of the state-owned asset revaluation.
The research framework uses the accountability theory which emphasizes the relationship between actors and forums
in program implementation. The results showed that there are two main problem in revaluation activitiy.

First, the implementation of the state-owned asset inventory which is not optimal is the cause of problems in
implementing the state-owned asset revaluation and contributes to the findings in the Audit Board’s Audit Result
regarding the results of the state-owned asset revaluation. Lack of understanding of goods users in ministries/
government agencies must be a concern that has an influence on asset management problems by the policymaker. In
this case, The DG-SAM. As a policymaker needs to improve and improve communication with goods users in Ministries/
Government Agencies. Role strengthening is needed by Government Internal Supervisory Apparatus to conduct a
review of the inventory results submitted by Ministries/Government Agencies to The DG-SAM. This will increase the
accuracy and validity of the state-owned asset data and will strengthen the accountability aspect of the state-owned
asset revalidation activities. Of course, it is necessary to ensure that the Government Internal Supervisory Apparatus
already has adequate standard operating procedures.

Second, the implementation of the state-owned asset revaluation is following GASs by making national regulations,
but still experiencing various problems. The Ministry of Finance made the state-owned asset revaluation policy based
on the best practices of other countries and valuation standards in Indonesia, and the lack of guidelines in GAS
regarding the recognition, measurement, and presentation of the state-owned asset revaluation has caused problems
in implementing the state-owned asset revaluation. A good solution could be the development of a new standard
specifically for the revaluation of the state-owned asset. This standard can also include other things of interest related
to the revaluation of the state-owned asset, such as efforts to optimize the use of assets across generations.

This research has sources from the DG-SAM as the executor and unit in charge of the state-owned asset revaluation
activities and the Directorate General of Treasury as the unit in charge of policies and preparation of the FRCG.
Revaluation Report not obtained because it is confidential, so it only uses data from The FRCG and Audit Board’s Audit
Report. For further research, it is possible to add ministries/government agencies as research objects so that problems
related to the inventory carried out by the ministries/government agencies can be better captured.

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