In bankruptcy proceedings, certain creditors may submit claims of significant value that dominate the debtor’s total liabilities. If there is suspicion that such claims are illegitimate, fictitious, or manipulated, a forensic audit becomes a vital tool to uncover the truth.
2. What Is a Forensic Audit?
A forensic audit is an investigative examination used to detect suspected fraud, transaction manipulation, or other irregularities in financial statements or claims.
3. Why Is a Forensic Audit Needed in Bankruptcy?
a. To prevent fabricated claims intended to control voting outcomes in creditors’ meetings.
b. To protect other concurrent creditors from potential losses.
c. To ensure the bankruptcy process is fair and transparent.
4. How Can Creditors Request a Forensic Audit?
Pursuant to Article 279 paragraph (2) of Law of the Republic of Indonesia Number 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations, creditors have the right to dispute, in whole or in part, any claim submitted by the Administrator. Furthermore, Article 67 paragraph (1) authorizes the Supervisory Judge to hear witness testimonies or order investigations by experts to clarify matters concerning the bankruptcy. Therefore, creditors or the curator may request a forensic audit by submitting a petition to the Supervisory Judge, particularly if there are indications that:
A. The claim lacks sufficient supporting evidence
B. There is a special relationship between the debtor and a particular creditor
C. The claim value is unreasonable and significantly influences the voting process
Legal Basis:
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Law of the Republic of Indonesia Number 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations
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The Indonesian Civil Code