INVESTMENT PROPERTY AS ACCOUNTABILITY INFRASTRUCTURE: A CASE STUDY OF PSAP 17 IMPLEMENTATION IN DKI JAKARTA

Indonesia’s 24.66% reduction in Transfers to the Regions for 2026 compels subnational governments to identify fiscal resources beyond central transfers. DKI Jakarta experienced the largest reduction (50.04%) despite maintaining Indonesia’s third-highest degree of fiscal decentralization (69.56%). The study aims at examining the implementation of Government Accounting Standard Statement No. 17 (PSAP 17) on investment property by DKI Jakarta’s Regional Asset Management Agency. A qualitative case-study design was used; data were collected through semi-structured interviews with five agency officials and document analysis and subsequently analyzed using ATLAS.ti. The findings indicate that PSAP 17 has been implemented effectively and in accordance with applicable regulations. Its implementation strengthens accountability infrastructure through supportive systems, although challenges remain concerning asset status and contractual agreements. This study links PSAP 17 to public accountability theory, proposes a replicable implementation model, recommends strengthening e-BMD, publishes information on idle assets, and improves human-resource capacity to enhance regional asset governance.