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All Journal JURNAL RISET AKUNTANSI DAN AUDITING ACCOUNTABILITY
Darise, Rezky Febriendy
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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DETECTION OF FRAUDULENT FINANCIAL STATEMENTS USING THE BENEISH RATIO INDEX FOR MANUFACTURING COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE IN 2016 AND 2017 PERIOD Darise, Rezky Febriendy
ACCOUNTABILITY Vol 8, No 2 (2019): Accountability
Publisher : Universitas Sam Ratulangi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32400/ja.24757.8.2.2019.66-74

Abstract

Fraud is an action taken intentionally and it is done for personal or other people's purposes, where the action has caused harm to certain parties or certain institutions. Misstatements contained in fraudulent financial statements are intentional misstatements to deceive users of financial statements. The source of this misstatement includes manipulation or falsification of accounting records, intentional misstatements or omissions from financial statements, and / or incorrect application of accounting principles. In Indonesia, accounting fraud also occurs at the company level, both private and government companies. On December 6, 2012, the announcement of Indonesia's score in the Corruption Perception Index (CPI) was 32 and ranked 118th out of 176 countries which measured the level of corruption (Transparency International, 2012). In 2001, a fraud scandal occurred by PT Kimia Farma Tbk. PT Kimia Farma is a state-owned company whose shares have been traded on the exchange to become public company. Based on indications by the Ministry of BUMN and Bapepam's examination, it was found that there were misstatements in the financial statements which resulted in overstatement of net income for the year ended 31 December 2001 of Rp. 32.7 billion, which represented 2.3% of sales and 24.7% from net income. The author's purpose of this study is to discuss about detecting fraud in financial statements by using 5 (five) of the 8 (eight) Beneish ratio indices, because Beneish's research states that the Days Sales in Receivables Index (DSRI) ratio index, the Gross Margin Index ( GMI), Asset Quality Index (AQI), Sales Growth Index (SGI), and Total Accrual to Total Asst Index (TATA) have significant results to detect financial report manipulation.
FAKTOR-FAKTOR YANG MEMENGARUHI FRAUDULENT FINANCIAL STATEMENT STUDI EMPIRIS PADA PERUSAHAAN SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Darise, Rezky Febriendy; Kalangi, Lintje; Gamaliel, Hendrik
JURNAL RISET AKUNTANSI DAN AUDITING "GOODWILL" Vol 12, No 2 (2021)
Publisher : Universitas Sam Ratulangi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35800/jjs.v12i2.37632

Abstract

This study aims to detect and analyze the factors that influence Fraudulent Financial Statements using the Beneish M-Score, Fraud Pentagon Theory consisting of Pressure, Opportunity, Rationalization, Arrogance, Competence, and CEO of Narcissism in banking sector companies listed on the Indonesia Stock Exchange (IDX). This study examines the theory based on previous research and is expected to open new knowledge about the effect of fraud indicators on the occurrence of fraudulent financial statements. The research method used is a quantitative research method with the type of explanatory research where the data obtained are in the form of numbers and analysis using statistics. The data obtained is secondary data in the form of financial statements of banking sector companies listed on the Indonesia Stock Exchange from 2017 to 2019 with a total of 46 banking companies and after using the purposive sampling method there are 26 banking companies. The results of the study show that the factors that influence the Fraudulent Financial Statement contained in the Fraud Pentagon Theory and CEO Narcissism are (1) the Pressure Factor which is proxied by financial stability, external pressure, financial targets, and personal financial need, (2 ) Opportunity factor which is proxied by the composition of independent commissioners, (3) Competence factor which is proxied by change of directors, (4) Arrogance factor which is proxied by the frequency of CEO image appearance, (5) CEO Narcissism Factor which proxied by CEO compensation. Meanwhile, the factor that does not affect the Fraudulent Financial Statement is the Rationalization Factor which is proxied by the audit opinion.
Co-Authors Hendrik Gamaliel Lintje Kalangi