The Effect of Fraud Pentagon on Earnings Management with Audit Committee as Moderating Variable
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Dec 28, 2024
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Abstract
his study aimed to examine the effect of fraud pentagon, external pressure, financial targets, ineffective monitoring, change in auditor, change of directors, and a frequent number of CEO’s pictures on earnings management; with the audit committee as moderating variable. The population was State-Owned Enterprises that were listed on Indonesia Stock Exchange (IDX) during 2015-2019. The Sampling technique used purposive sampling with 12 State-Owned Enterprises as the sample. Furthermore, there were 2 models of analysis, i.e. multiple linear regression and Moderated Regression Analysis (MRA) in order to analyze the secondary data in form of companies’ financial statements; . As a result, it concluded that external pressure, financial target, and a frequent number of CEO’s pictures affected earnings management. However, ineffective monitoring, change in auditor, and change of directors did not affect earnings management. In contrast, the audit committee was able to moderate the effect of external pressure, financial targets, change of director, and a frequent number of CEO’s pictures on earnings management. On the other hand, the audit committee was not able to moderate the effect of ineffective monitoring and change in auditor on earnings management.
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References
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Triastuti, H., Rahayu, S., & Riana, Z. (2020). Determinants of Fraud Pentagon Theory Perspective and Its Effects on Fraudulent Financial Statement in Mining Companies Which Is Listed in Indonesia Stock Exchange. Budapest International Research and Critics Institute-Journal , 3(3), 1995–2010.
Uciati, N., & Mukhibad, H. (2020). Fraudulent Financial Statements at Sharia Banks. Accounting Analysis Journal , 8(3), 196–206.
Wailan’An, E., Erlina, J., & Bakar, E. A. (2019). Effect of Fraud Diamond on Fraud Financial Statement Detection with Audit Committee as Moderation Variables in Manufacturing Companies Listed in Indonesia in The Period of 2015-2017. International Journal of Public Budgeting, Accounting and Finance (IJPBAF).
Wolfe, D. T., & Hermanson, D. R. (2004). The Fraud Diamond: Considering the Four Elements of Fraud. The CPA Journal , 74(12), 38–42.
Yuniarti, E., Sari, R., Kesuma, N., & Damayani, F. (2019). The Influence of Pentagon Fraud on The Financial Statements of Infrastructure Companies Listed in Indonesia Stock Exchange. 4th Sriwijaya Economic, Accounting, and Business Conference, 573–583.
Arum, E. D. P., & Wahyudi, I. (2020). Fraudulent Financial Reporting Detection in Banking Sector: Evidence from Indonesia. International Journal of Psychosocial Rehabilitation, 24(2), 199–211.
Bawekes, H. F., Simanjuntak, A., & Daat, S. C. (2018). Pengujian teori fraud pentagon terhadap fraudulent financial reporting. . Jurnal Akuntansi & Keuangan Daerah , 13(1), 114–134.
Ghozali, I. (2016). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 23 (Edisi 8). Badan Penerbit Universitas Diponegoro.
Gusnardi. (2009). Pengaruh Peran Komite Audit, Pengendalian Internal, Audit Internal, dan pelaksanaan Tata Kelola Perusahaan Terhadap Pencegahan Kecurangan. JOM Fekon. Universitas Riau.
Haqq, A. P. N. A., & Budiwitjaksono, G. S. (2020). Fraud Pentagon for Detecting Financial Statement Fraud. . Jurnal of Economics, Business, and Accountancy Ventura , 22(3).
Harman, S. A., & Bernawati, Y. (2020). Determinants of Financial Statement Fraud: Fraud Pentagon Perspective in Manufacturing Companies. International Journal of Innovation, Creativity and Change , 13(4), 1453–1372.
Imtikhani, L., & Sukirman. (2021). Determinan Fraudulent Financial Statement Melalui Perspektif Fraud Hexagon Theory Pada Perusahaan Pertambangan. Jurnal Akuntansi Bisnis , 19(1), 96–113.
Mardiani, S., Sukarmanto, E., & Maemunah, M. (2017). Pengaruh Fraud Diamond Terhadap Penedeteksian Financial Statement Fraud dengan Komite Audit sebagai Variabel Moderasi. . Prosiding Akuntansi Universitas Islam Bandung, 3(2), 476–283.
Nanda, S. T., Zenita, R., & Salmiah, N. (2019). Fraudulent Financial Reporting: A Fraud Pentagon Analysis. GATR Accounting and Finance Review , 4(4), 106–113.
Novitasari, A. R., & Chariri, A. (2019). Analisis Faktor-Faktor Yang Mempengaruhi Financial Statement Fraud Dalam Perspektif Fraud Pentagon. Diponegoro Journal of Accounting , 7(4).
Nurardi, D., & Wijayanti, R. (2021). Determinan Financial Statement Fraud Dengan Analisis Fraud Hexagon Model (Studi Empiris pada Perusahaan Sektor LQ 45 yang Terdaftar di Bursa Efek Indonesia Periode II Agustus-Januari 2016-2019) . Desnanda. The 13th University Research Colloqium 2021, 2019(3).
Putri, T. V. Y., & Saphira, J. (2019). Fraud pentagon dalam manajemen laba diperusahaan manufaktur logam dan kimia. . Jurnal Ilmiah Wahana Akuntansi , 14(2).
Rusmana, O., & Tanjung, H. (2020). Identifikasi Kecurangan Laporan Keuangan Dengan Fraud Pentagon Studi Empiris BUMN Terdaftar Di Bursa Efek Indonesia. Jurnal Ekonomi Bisnis Dan Akuntansi , 21(4).
Santoso. (2019). Fenomena Kecurangan Laporan Keuangan Pada Perusahaan Terbuka Di Indonesia. Jurnal Magister Akuntansi Trisakti , 6(2), 173–200.
Santoso, N. T., & Surenggono. (2018). Predicting Financial Statement Fraud with Fraud Diamond Model of Manufacturing Companies Listed in Indonesia. State of the Art Theories and Empirical Evidence , 151–163.
Sari, S. P., & Nugroho, N. K. (2020). Financial Statements Fraud dengan Pendekatan Vousinas Fraud Hexagon Model: Tinjauan pada Perusahaan Terbuka di Indonesia. . Procedding of the 1st Annual Conference on Ihtifaz: Islamic Economics, Finance, and Banking (ACI-IJIEFB), , 409–430.
SAS No. 99. (n.d.). Corporate Governance and Firm Performance Advances in Financial Economis.
Sasongko, N. , A., Nurmulina, A., & Fernandez, D. (2019). Analysis of Fraud Factors in Financial Statement Fraud. . The Journal of Social Sciences Research , 5(4), 918–923.
Septriani, Y., & Handayani, D. (2018). Mendeteksi Kecurangan Laporan Keuangan dengan Analisis Fraud Pentagon. . . . Jurnal Akuntansi Keuangan Dan Bisnis , 11(11).
Setiawati, E., & R. M. Baningrum. (2018). Deteksi Fraudulent Financial Reporting Menggunakan Analisis Fraud Pentagon: Studi Kasus Pada Perusahaan Manufaktur Yang Listed di Bei Tahun 2014-2016. . Riset Akuntansi Dan Keuangan Indonesia , 3(2).
Siddiq, F. R., Achyani, F., & Zulfikar. (2017). Fraud pentagon dalam mendeteksi financial statement fraud. . Seminar Nasional Dan The 4th Call for Syariah Paper.
Sudaryono, D. (2021). Application Fraud Pentagon for Detecting Symptoms of Shortful Financial Statements. . International Journal of Contemporary Accounting , 3(1).
Sugiyono. (2019). Metodelogi Penelitian Kuantitatif dan Kualitatif Dan R&D. ALFABETA.
Tessa, C., & Harto, P. (2016). Fraudulent Financial Reporting: Pengujian Teori Fraud Pentagon pada Sektor Keuangan dan Perbankan di Indonesia. Simposium Nasional Akuntansi, 1–21.
Triastuti, H., Rahayu, S., & Riana, Z. (2020). Determinants of Fraud Pentagon Theory Perspective and Its Effects on Fraudulent Financial Statement in Mining Companies Which Is Listed in Indonesia Stock Exchange. Budapest International Research and Critics Institute-Journal , 3(3), 1995–2010.
Uciati, N., & Mukhibad, H. (2020). Fraudulent Financial Statements at Sharia Banks. Accounting Analysis Journal , 8(3), 196–206.
Wailan’An, E., Erlina, J., & Bakar, E. A. (2019). Effect of Fraud Diamond on Fraud Financial Statement Detection with Audit Committee as Moderation Variables in Manufacturing Companies Listed in Indonesia in The Period of 2015-2017. International Journal of Public Budgeting, Accounting and Finance (IJPBAF).
Wolfe, D. T., & Hermanson, D. R. (2004). The Fraud Diamond: Considering the Four Elements of Fraud. The CPA Journal , 74(12), 38–42.
Yuniarti, E., Sari, R., Kesuma, N., & Damayani, F. (2019). The Influence of Pentagon Fraud on The Financial Statements of Infrastructure Companies Listed in Indonesia Stock Exchange. 4th Sriwijaya Economic, Accounting, and Business Conference, 573–583.