Analisis Potensi Kecurangan Pada Laporan Keuangan Perusahaan Bumn Di Bursa Efek Indonesia: Pendekatan Hexagon Fraud Analysis (Studi Empiris Tahun 2020-2023)
Keywords:
Fraud Potential, Financial Performance Metrics, Governance Structures, Ethical Climate, Corporate Culture, State-Owned Enterprises.
Abstract
This study investigates the factors influencing the potential for fraud in financial reports of state-owned enterprises (BUMNs) listed on the Indonesian Stock Exchange (BEI) from 2020 to 2023. Utilizing a quantitative approach with random sampling of 70 investors and Structural Equation Modeling (SEM) via Smart PLS, the research examines the relationships between financial performance metrics, governance structures and policies, ethical climate and corporate culture, and fraud potential in financial reports. The findings reveal that financial performance metrics significantly impacts fraud potential in financial reports both directly and indirectly through ethical climate and corporate culture, indicating the crucial role of ethical practices in mitigating fraud risks. Conversely, governance structures and policies directly affects fraud potential in financial reports, but its indirect effect through ethical climate and corporate culture is not significant, suggesting that mere presence of governance policies is insufficient without effective implementation and a strong ethical culture. These insights highlight the need for robust ethical environments and comprehensive governance practices to enhance financial reporting transparency and accountability, thereby bolstering investor confidence and sustainable performance in BUMNs.
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[2] P. B. E. Chan and M. J. P. Barlis, “Relationship Among Ethical Leadership, Ethical Climate, and Service-Oriented Organizational Citizenship Behavior in the Hospitality Industry,” Bus. Econ. Commun. Soc. Sci. J., vol. 5, no. 2, pp. 85–99, 2023, doi: 10.21512/becossjournal.v5i2.9976.
[3] U. Atz, Z. Z. Liu, C. Bruno, and T. Van Holt, “Online appendix: Does Sustainability Generate Better Financial Performance? Review, Meta-analysis, and Propositions,” SSRN Electron. J., pp. 1–29, 2021, doi: 10.2139/ssrn.3919652.
[4] N. Dharmayanti, T. Ismail, I. A. Hanifah, and M. Taqi, “Exploring sustainability management control system and eco-innovation matter sustainable financial performance: The role of supply chain management and digital adaptability in indonesian context,” J. Open Innov. Technol. Mark. Complex., vol. 9, no. 3, p. 100119, 2023, doi: 10.1016/j.joitmc.2023.100119.
[5] H. Z. AL Habal, “Financial Performance Metrics of Islamic Banks in the Sultanate of Oman : An Analytical Review,” Int. Res. J. Econ. Manag. Stud., vol. 3, no. 6, pp. 12–21, 2024, doi: 10.56472/25835238/IRJEMS-V3I6P102.
[6] R. Coelho, S. Jayantilal, and J. J. Ferreira, “The impact of social responsibility on corporate financial performance: A systematic literature review,” Corp. Soc. Responsib. Environ. Manag., vol. 30, no. 4, pp. 1535–1560, 2023, doi: 10.1002/csr.2446.
[7] Godwin Nzeako, Michael Oladipo Akinsanya, Oladapo Adeboye Popoola, Excel G Chukwurah, Chukwuekem David Okeke, and Ijeoma Scholastica Akpukorji, “Theoretical insights into IT governance and compliance in banking: Perspectives from African and U.S. regulatory environments,” Int. J. Manag. Entrep. Res., vol. 6, no. 5, pp. 1457–1466, 2024, doi: 10.51594/ijmer.v6i5.1094.
[8] K. Ali, H. Hongbing, C. Y. Liew, and D. Jianguo, Governance perspective and the effect of economic policy uncertainty on financial stability: evidence from developed and developing economies, vol. 56, no. 3. Springer US, 2023. doi: 10.1007/s10644-023-09497-6.
[9] S. Mariam, A. H. P. K. Putra, A. H. Ramli, and F. Aryani, “Analysis of the Effect of Debt Level, Market Orientation, and Financial Literacy on Microenterprise Financial Performance: The Mediating Role of Consumer Behavior,” Atestasi J. Ilm. Akunt., vol. 6, no. 2, pp. 469–494, 2023, doi: 10.57178/atestasi.v6i2.706.
[10] 2022) (Iqbal, “Pengaruh Fraud Diamond Dalam Mendeteksi Terjadinya Kecurangan Laporan Keuangan Studi Empiris Pada Perusahaan Bumn Yang Terdaftar Di Bursa Efek Indonesia,” J. Compr. Sci., vol. 2, no. 8.5.2017, pp. 2003–2005, 2022, [Online]. Available: www.aging-us.com
[11] A. A. Sarhan and B. Al-Najjar, “The influence of corporate governance and shareholding structure on corporate social responsibility: The key role of executive compensation,” Int. J. Financ. Econ., vol. 28, no. 4, pp. 4532–4556, 2023, doi: 10.1002/ijfe.2663.
[12] A. Bagas, D. Rajendra, and J. Y. Sugianto, “Fraud Problems in International Company Financial Reports,” Int. J. Econ. Commer. Manag., no. 3, pp. 120–126, 2024.
[13] N. S. Maulina and Z. Meini, “Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Statement,” J. Akunt. Univ. Jember, vol. 21, no. 2, p. 97, 2023, doi: 10.19184/jauj.v21i2.38169.
[14] R. D. Harisma, “Analisis Faktor Yang Mempengaruhi Kecurangan Laporan Keuangan Menurut Teori Hexagon Fraud Pada Perusahaan Bum,” skripsi, 2023.
[15] W. Yadiati, A. Rezwiandhari, and Ramdany, “Detecting Fraudulent Financial Reporting In State-Owned Company: Hexagon Theory Approach,” JAK (Jurnal Akuntansi) Kaji. Ilm. Akunt., vol. 10, no. 1, pp. 128–147, 2023, doi: 10.30656/jak.v10i1.5676.
[16] I. E.-S. Ebaid, “Board characteristics and the likelihood of financial statements fraud: empirical evidence from an emerging market,” Futur. Bus. J., vol. 9, no. 1, 2023, doi: 10.1186/s43093-023-00218-z.
[17] J. H. Choi and B. Gipper, “Fraudulent financial reporting and the consequences for employees,” J. Account. Econ., no. xxxx, p. 101673, 2024, doi: 10.1016/j.jacceco.2024.101673.
[18] Y. Faisal, E. G. Sari, J. S. A. Sipahutar, and R. Melindawati, “the Influence of Morality, Internal Control on Fraud of Financial Reports,” J. Ris. Akunt. Mercu Buana, vol. 9, no. 1, pp. 14–28, 2023, doi: 10.26486/jramb.v9i1.3117.
[19] H. Al Halbusi, T. L. P. Tang, K. A. Williams, and T. Ramayah, Do ethical leaders enhance employee ethical behaviors?: Organizational justice and ethical climate as dual mediators and leader moral attentiveness as a moderator--Evidence from Iraq’s emerging market, vol. 11, no. 1. Springer Netherlands, 2022. doi: 10.1007/s13520-022-00143-4.
[20] A. Roy, A. Newman, H. Round, and S. Bhattacharya, “Ethical Culture in Organizations: A Review and Agenda for Future Research,” Bus. Ethics Q., vol. 34, no. 1, pp. 97–138, 2024, doi: 10.1017/beq.2022.44.
[21] M. Di Giulio and G. Vecchi, “How ‘institutionalization’ can work. Structuring governance for digital transformation in Italy,” Rev. Policy Res., vol. 40, no. 3, pp. 406–432, 2023, doi: 10.1111/ropr.12488.
[22] B. G. D. Daljono, “Analisis Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Reporting Menggunakan Metode Beneish M-Score,” Diponegoro J. Account., vol. 12, no. 3, pp. 1–15, 2023, [Online]. Available: http://ejournal-s1.undip.ac.id/index.php/accounting
[23] A. Elomäki, “‘It’s a total no-no’: The strategic silence about gender in the European Parliament’s economic governance policies,” Int. Polit. Sci. Rev., vol. 44, no. 3, pp. 403–417, 2023, doi: 10.1177/0192512120978329.
Published
2024-07-19
Section
Articles
Copyright (c) 2024 Desman Serius Nazara, Fitriana Fitriana, Zainal Arifin
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
