Intangible Asset Valuation Manipulation in a Legal Perspective
DOI:
https://doi.org/10.51903/thxbdg85Keywords:
Intangible Assets, Asset Valuation, Fraud, Information AsymmetryAbstract
In the modern digital economy, intangible assets-such as intellectual property and goodwill-have evolved into primary drivers of corporate value and startup scale. However, their non-physical nature creates significant challenges for standardized valuation and regulatory compliance under International Accounting Standard (IAS) 38 and Indonesian Financial Accounting Standard (PSAK) 19. This paper examines the intersection between the economic valuation of intangible assets and the legal vulnerabilities arising from information asymmetry. Employing a purely normative legal research framework with a case-study approach, this study investigates how subjective valuation models open avenues for aggressive creative accounting and suspected reporting anomalies. These include artificial overvaluation driven by Gross Merchandise Value (GMV) in startup ecosystems, cash flow manipulation shenanigans (shifting operating cash outflows to investing activities), transfer pricing abuse in low-tax jurisdictions, and opportunistic disclosures surrounding goodwill impairment tests. This study establishes a comprehensive analytical matrix and liability typology to distinguish between valuation errors, professional standard breaches, administrative violations, civil unlawful acts (perbuatan melawan hukum), and criminal offences. Ultimately, the study underscores the urgent need for standardized execution frameworks, enhanced corporate due diligence, and advanced analytical reasoning among law enforcement and valuation professionals. This is vital to uphold commutative and proportional justice, prevent unjust enrichment, and maintain capital market stability.
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