Analysis of Fraud Hexagon Theory of Financial Fraudulent Reporting Using F-Score Model
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Apr 29, 2023
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Abstract
The research purpose is to determine and analyze the effect of fraud hexagon theory (stimulus, opportunity, rationalization, capability, ego dan collusion) to fraudulent financial reporting. The importance of this research is that fraudulent financial reporting can be detected as early as possible, so that the fraudulent fnancial reporting can be avoided and does not cause a loss for many parties. This research was conducted in the manufacture sector companies because it is a sector that is prone to fraudulent financial reporting. The sample in this research was selected using a purposive sampling technique which was obtained as many as 59 of manufacture sector companies listed on the Indonesia Stock Exchange in 2016-2020. The data analysis technique used SEM-PLS with WarpPLS 7.0 software. The result of this research show that stimulus, opportunity, rationalization and ego have positive and significant to fraudulent financial reporting, collusion have negative and significant to fraudulent financial reporting, while the capability did not have effect to fraudulent financial reporting.
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References
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Apriliana, Siska dan Linda Agustina. (2017). The Analysis Fraudulent Financial Reporting Determinant through Fraud Pentagon Approach. Jurnal Dinamika Akuntansi. Vol. 9, No. 2, p. 154-165.
Christian, Natalis dkk. (2019). Analysis of Fraud Pentagon to Detecting Corporate Fraud In Indonesia. International Journal of Economics, Business and Management Research. Vol. 3, No. 8, p. 1-13.
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Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting material accounting misstatements. Contemporary accounting research, 28(1), 17- 82.
Gaio, C., & Pinto, I. (2018). The role of state ownership on earnings quality: evidence across public and private European firms. Journal of Applied Accounting Research, 19(2), 312–332.
Guedhami, O., A., J, Pittman, & Saffar. (2014). Auditor Choise in Politically Connected Firms. Journal of Accounting Research. 35(6). pp 609-634.
Hady, A. R. K., & Chariri, A. (2022). Peran Pengungkapan CSR dalam memediasi hubungan koneksi politik dengan kemungkinan kecurangan laporan keuangan. Jurnal Akuntansi. Volume 32. Nomor 6. Hal 1632-1646. ISSN 2302-8556.
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Judge, Madeline (2019). Using the theory of planned behaviour to predict intentions to purchase sustainable housing. Journal of Cleaner Production. 215, pp. 259-267.
Kaplan, Steven E (1986). An application of attribution and equity theories to tax evasion behaviour. Journal of Economic Pcychology. 7, pp. 461-476.
Khoirunnisa, Awaliyatu, A. Rahmawaty & Yasin. (2020). Fraud Pentagon Theory dalam mendeteksi Fraudulent Financial Reporting. Jurnal Bisnis dan Manajemen Islam. Vol. 8, No.1, pp. 97-110. ISSN 2477-5533.
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Meiryani dkk. (2020). The Effect of Financial Target and Financial Stability on Fraudulent Financial Statements. Journal of Critical Review. Vol. 7, No. 6, p. 692-699.
Mukhtaruddin (2020). Fraudulent Financial Reporting: Fraud Pentagon Analysis in Banking and Financial Sector Companies. Issue in Business Management and Economics. Vol. 8, No. 2, p. 12-24.
Nugraheni, N. Kartika dan H. Triatmoko. (2017). Analisis Faktor-faktor yang mempengaruhi terjadinya Financial Statement Fraud: Perspektif Diamond Fraud Theory. Jurnal Akuntansi dan Auditing. Vol. 14, No. 2, p. 118-143.
Nurrohman, A. Mujahid & D. W. Hapsari. (2020). The effect of fraud pentagon on the fraudulent financial reporting using f-score model. E Proceding of Management. Vol 7. No 2, pp 5790-5797. ISSN 2355-9357
Octani. J., Anda. D, dan Dedi. D. (2022). Analisis pengaruh fraud hexagon terhadap fraudulent financial reporting pada perusahaan sektor keuangan yang terdaftar di bursa efek Indonesia. Jurnal Akuntansi, Bisnis dan Ekonomi Indonesia. Volume 1. No.1. Hal 36-49. ISSN 2829-9043.Volume 11. Nomor 2. Hal 106-121. ISSN 2089-7219.
Popoola, Oluwatoyin M.J & Ayoib C.S. (2014). Forensic Accounting and Fraud: Capability and Competence Requirements in Malaysia. Journal of Modern Accounting and Auditing. Vol 8. Pp. 825-834.
Puspitha, M. Yessi dan G. W. Yasa. (2018). Fraud Pentagon Analysis in Detecting Fraudulent Financial Reporting. International Journal of Sciences : Basic and Applied Research. Vol. 42, No. 5, p. 93-109.
Putriyanti, Neng & A. D. Cahyati. (2020). Effect of Pressure, Opportunity, Rationalization, Capability and Arrogance in The Concept of The Fraud Pentagon. Journal of Auditing, Finance, and Forensic Accounting. Vol 8. No.2, pp.85-95. ISSN 2339-2886.
Quraini, F., & Rimawati, Y. (2018). Determinan Fraudulent Financial Reporting Using Fraud Pentagon Analysis. Journal of Auditing, Finance, and Forensic Accounting, 6(2), 105-114.
Renata, M. Pauline & S. P. Yudowati. (2020). Pendeteksian kecurangan laporan keuangan menggunakan fraud pentagon. JMM Online. Vol. 8, No. 8, pp. 1208-1223. ISSN 2614-0365.
Rengganis, RR. Maria Yulia Dwi dkk. (2019). The Fraud Diamond: Element in Detecting Financial Statement of Fraud. International Research Journal of Management, IT & Social Sciences. Vol. 6, No. 3, p. 1-10.
Sholihin, Mahfud, dan D. Ratmono. (2021). Analisis SEM-PLS dengan WarpPLS 7.0 untuk hubungan Nonlinier dalam Penelitian Sosial dan Bisnis. Edisi 2. Penerbit Andi. Yogyakarta.
Skousen, C. J., Smith, K. R., & Wright, C. J. (2009). Detecting and predicting financial statement fraud: The effectiveness of the fraud triangle and SAS No. 99. In Corporate Governance and Firm Performance (pp. 53–81). Emerald Group Publishing Limited. SSRN.
Sugiyono. (2019). Metode Penelitian Kuantitaif, Kualitatif R&D. Bandung: Alfabeta.
Tessa, Chyntia. G & P. Harto. (2016). Fraudulent financial reporting: pengujian teori fraud pentagon pada sektor keuangan dan perbankan di Indonesia. Simposium Nasional Akuntansi XIX, Lampung.
Tjen, Fenny dkk. (2020). Financial Stability, Leverage, Ineffective Monitoring, Independent Audit Committee, and the Fraudulent Financial Statement. International Research Journal of Business Studies. Vol. 8, No. 2, p. 161- 172.
Vousinas, G. L. (2019). Advancing Theory of Fraud: The SCORE Model. Journal of Financial Crime. Vol 26. No. 1, pp. 372-381.
Windasari, M., & Juliarsa, G. (2016). Pengaruh Kompetensi, Independensi, dan Profesionalisme Auditor Internal dalam mencegah Kecurangan pada Bpr di Kabupaten Bandung. E-Jurnal Akuntansi, 17(3), 1924-1952.
Wolfe, D. T., & Hermanson, D. R. (2004). The Fraud Diamond : Considering the Four Elements of Fraud: Certified Public Accountant. The CPA Journal, 74(12), 38–42.
Yulianti dkk. (2019). Influence of fraud pentagon toward Fraudulent Financial Reporting In Indonesia An Emprical Study On Financial Sector Listed In Indonesian Stock Exchange. International Journal of Scientific & Technology Research. Vol. 8, No. 8, pp. 237-242.
Yusof, Mohammed. K., Ahmad Khair A.H. & J. Simon. (2015). Fraudulent financial reporting: an aplication of fraud model to Malaysian Public Listed Companies. The Macrotheme Review 4(3), pp. 126-145.
Agusputri, Hanifah dan Sofie. (2019). “Faktor-Faktor yang Berpengaruh Terhadap Fraudulent Financial Reporting dengan Menggunakan Analisis Fraud Pentagon”. Jurnal Informasi Perpajakan, Akuntansi dan Keuangan Publik, Vol. 14 No. 2, Hal: 105-114. ISSN:2685-6441.
Akbar, Taufiq. (2017). The Determination of Fraudulent Financial Reporting Causes By Using Pentagon Theory On Manufacturing Companies In Indonesia. International Journal of Business, Economics and Law. Vol. 14, No. 5, p. 106-113.
Annisya dkk. (2016). Pendeteksian Kecurangan laporan keuangan menggunakan Fraud Diamond. Jurnal Bisnis dan Ekonomi. Vol. 23, No. 1, p. 72-89.
Aprilia, Selvia R., N., A dan Astri Furqani. (2021). Deteksi Kecurangan Laporan Keuangan dengan metode Fraud Diamond pada Perusahaan Jasa. Journal of Accounting, and Financial Issue. Volume 2. No 2. Hal 1-11. ISSN 2775- 4642.
Apriliana, Siska dan Linda Agustina. (2017). The Analysis Fraudulent Financial Reporting Determinant through Fraud Pentagon Approach. Jurnal Dinamika Akuntansi. Vol. 9, No. 2, p. 154-165.
Christian, Natalis dkk. (2019). Analysis of Fraud Pentagon to Detecting Corporate Fraud In Indonesia. International Journal of Economics, Business and Management Research. Vol. 3, No. 8, p. 1-13.
CNN Indonesia. (2020). “ Kronologi Kasus Jiwasraya, Gagal Bayar Hingga Dugaan Korupsi”, https://www.cnnindonesia.com/ekonomi/20200108111414-78- 463406/kronologi-kasus-jiwasraya-gagal-bayar-hingga-dugaan-korupsi, diakses pada 7 April 2021.
Cressey, D.R (1953). Other People‟s Money. Montclair, NJ: Patterson Smith, pp.1-300.
Crowe, H. (2011). Putting the Freud in Fraud: Why the Fraud Triangle Is No Longer Enough. IN Howart, Crowe.
Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting material accounting misstatements. Contemporary accounting research, 28(1), 17- 82.
Gaio, C., & Pinto, I. (2018). The role of state ownership on earnings quality: evidence across public and private European firms. Journal of Applied Accounting Research, 19(2), 312–332.
Guedhami, O., A., J, Pittman, & Saffar. (2014). Auditor Choise in Politically Connected Firms. Journal of Accounting Research. 35(6). pp 609-634.
Hady, A. R. K., & Chariri, A. (2022). Peran Pengungkapan CSR dalam memediasi hubungan koneksi politik dengan kemungkinan kecurangan laporan keuangan. Jurnal Akuntansi. Volume 32. Nomor 6. Hal 1632-1646. ISSN 2302-8556.
Handoko, Bambang Leo dan Selly. (2020). The Effect of Fraud Diamond on Detection of Financial Statement Fraud. International Journal of Advanced Science and Technology. Vol. 29, No. 3, p. 467-475.
IIA (The Institute of Internal Auditors). (2017). Definition of fraud.
Jensen, M., & Meckling, W. (1976). Theory of the firm : Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics Vol.3 No. 4, 305-360.
Judge, Madeline (2019). Using the theory of planned behaviour to predict intentions to purchase sustainable housing. Journal of Cleaner Production. 215, pp. 259-267.
Kaplan, Steven E (1986). An application of attribution and equity theories to tax evasion behaviour. Journal of Economic Pcychology. 7, pp. 461-476.
Khoirunnisa, Awaliyatu, A. Rahmawaty & Yasin. (2020). Fraud Pentagon Theory dalam mendeteksi Fraudulent Financial Reporting. Jurnal Bisnis dan Manajemen Islam. Vol. 8, No.1, pp. 97-110. ISSN 2477-5533.
Luthan, Fred. (2011). Organizational Behaviour: An Evidence Based Approach New york: McGraw-Hill.
Machado, Michele R..R & Ivan Ricardo Gartner. (2017). The Cressey hypothesis (1953) and an investigation into the occurrence of corporate fraud: an emprical analysis conducted in Brazilian bangking institutions. Original Article. Pp.1-22. ISSN 1808-057X.
Matangkin, L., Ng, S., & Mardiana, A. (2018). Pengaruh Kemampuan Manajerial dan Koneksi Politik Terhadap Reaksi Investor Dengan Kecurangan Laporan Keuangan Sebagai Variabel Mediasi. SIMAK, 16, 182–209
Meiryani dkk. (2020). The Effect of Financial Target and Financial Stability on Fraudulent Financial Statements. Journal of Critical Review. Vol. 7, No. 6, p. 692-699.
Mukhtaruddin (2020). Fraudulent Financial Reporting: Fraud Pentagon Analysis in Banking and Financial Sector Companies. Issue in Business Management and Economics. Vol. 8, No. 2, p. 12-24.
Nugraheni, N. Kartika dan H. Triatmoko. (2017). Analisis Faktor-faktor yang mempengaruhi terjadinya Financial Statement Fraud: Perspektif Diamond Fraud Theory. Jurnal Akuntansi dan Auditing. Vol. 14, No. 2, p. 118-143.
Nurrohman, A. Mujahid & D. W. Hapsari. (2020). The effect of fraud pentagon on the fraudulent financial reporting using f-score model. E Proceding of Management. Vol 7. No 2, pp 5790-5797. ISSN 2355-9357
Octani. J., Anda. D, dan Dedi. D. (2022). Analisis pengaruh fraud hexagon terhadap fraudulent financial reporting pada perusahaan sektor keuangan yang terdaftar di bursa efek Indonesia. Jurnal Akuntansi, Bisnis dan Ekonomi Indonesia. Volume 1. No.1. Hal 36-49. ISSN 2829-9043.Volume 11. Nomor 2. Hal 106-121. ISSN 2089-7219.
Popoola, Oluwatoyin M.J & Ayoib C.S. (2014). Forensic Accounting and Fraud: Capability and Competence Requirements in Malaysia. Journal of Modern Accounting and Auditing. Vol 8. Pp. 825-834.
Puspitha, M. Yessi dan G. W. Yasa. (2018). Fraud Pentagon Analysis in Detecting Fraudulent Financial Reporting. International Journal of Sciences : Basic and Applied Research. Vol. 42, No. 5, p. 93-109.
Putriyanti, Neng & A. D. Cahyati. (2020). Effect of Pressure, Opportunity, Rationalization, Capability and Arrogance in The Concept of The Fraud Pentagon. Journal of Auditing, Finance, and Forensic Accounting. Vol 8. No.2, pp.85-95. ISSN 2339-2886.
Quraini, F., & Rimawati, Y. (2018). Determinan Fraudulent Financial Reporting Using Fraud Pentagon Analysis. Journal of Auditing, Finance, and Forensic Accounting, 6(2), 105-114.
Renata, M. Pauline & S. P. Yudowati. (2020). Pendeteksian kecurangan laporan keuangan menggunakan fraud pentagon. JMM Online. Vol. 8, No. 8, pp. 1208-1223. ISSN 2614-0365.
Rengganis, RR. Maria Yulia Dwi dkk. (2019). The Fraud Diamond: Element in Detecting Financial Statement of Fraud. International Research Journal of Management, IT & Social Sciences. Vol. 6, No. 3, p. 1-10.
Sholihin, Mahfud, dan D. Ratmono. (2021). Analisis SEM-PLS dengan WarpPLS 7.0 untuk hubungan Nonlinier dalam Penelitian Sosial dan Bisnis. Edisi 2. Penerbit Andi. Yogyakarta.
Skousen, C. J., Smith, K. R., & Wright, C. J. (2009). Detecting and predicting financial statement fraud: The effectiveness of the fraud triangle and SAS No. 99. In Corporate Governance and Firm Performance (pp. 53–81). Emerald Group Publishing Limited. SSRN.
Sugiyono. (2019). Metode Penelitian Kuantitaif, Kualitatif R&D. Bandung: Alfabeta.
Tessa, Chyntia. G & P. Harto. (2016). Fraudulent financial reporting: pengujian teori fraud pentagon pada sektor keuangan dan perbankan di Indonesia. Simposium Nasional Akuntansi XIX, Lampung.
Tjen, Fenny dkk. (2020). Financial Stability, Leverage, Ineffective Monitoring, Independent Audit Committee, and the Fraudulent Financial Statement. International Research Journal of Business Studies. Vol. 8, No. 2, p. 161- 172.
Vousinas, G. L. (2019). Advancing Theory of Fraud: The SCORE Model. Journal of Financial Crime. Vol 26. No. 1, pp. 372-381.
Windasari, M., & Juliarsa, G. (2016). Pengaruh Kompetensi, Independensi, dan Profesionalisme Auditor Internal dalam mencegah Kecurangan pada Bpr di Kabupaten Bandung. E-Jurnal Akuntansi, 17(3), 1924-1952.
Wolfe, D. T., & Hermanson, D. R. (2004). The Fraud Diamond : Considering the Four Elements of Fraud: Certified Public Accountant. The CPA Journal, 74(12), 38–42.
Yulianti dkk. (2019). Influence of fraud pentagon toward Fraudulent Financial Reporting In Indonesia An Emprical Study On Financial Sector Listed In Indonesian Stock Exchange. International Journal of Scientific & Technology Research. Vol. 8, No. 8, pp. 237-242.
Yusof, Mohammed. K., Ahmad Khair A.H. & J. Simon. (2015). Fraudulent financial reporting: an aplication of fraud model to Malaysian Public Listed Companies. The Macrotheme Review 4(3), pp. 126-145.