Abstract
Financial statements are an important instrument for every company. Financial statements are a window of information on the company's current financial condition. The function of financial statements is very important to make financial reports as a target of manipulation by individuals who have the intention to commit fraud. Not a few cases of financial statement fraud caused by pressure and opportunity factors that have actors. This study aims to analyze the effect of variables from the diamond fraud theory proposed by Wolfe and Hermanson (2004), namely financial targets, financial stability, external pressure, nature of industry, ineffective monitoring, change in auditor, total accrual and capability of financial statements fraud proxied by the f-score model. This research focuses on state-owned companies because state-owned companies have enormous potential for fraud and corruption. In this study the sample used is 15 non-bank SOE companies that have been listed on the Indonesia Stock Exchange (IDX) in the 2011-2017 period. The type of data used is secondary data in the form of annual reports of BUMN companies that have been listed on the Indonesia Stock Exchange during the period 2011-2017. Hypothesis testing is done by using multiple linear regression methods. The results of this study indicate that the financial target variable which is proxied by return on assets is proven to have a positive effect in detecting financial statement fraud. The external pressure variable which is proxy by leverage ratio is proven to have a negative effect in detecting fraudulent financial statements. This study does not prove that financial stability, ineffective monitoring, nature of the industry, total accruals, change in auditors and capability have an influence in detecting financial statement fraud. The results of this study also prove that the factor that greatly influences the financial statement of fraud is the pressure factor. Therefore, it can be concluded that the variables in diamond fraud can be used in detecting financial statement fraud.
Highlights
Laporan keuangan akan berfungsi keuangan adalah jenis kecurangan/fraud yang maksimal apabila disajikan sesuai dengan memiliki dampak kecurangan yang paling unsur-unsur kualitatifnya, antara lain: mudah merugikan di antara jenis kecurangan lainnya dipahami, andal, dapat dibandingkan, dan dengan kerugian rata-rata sebesar $ 700.000
This study aims to analyze the effect of variables from the diamond fraud theory proposed by Wolfe and Hermanson (2004), namely financial targets, financial stability, external pressure, nature of industry, ineffective monitoring, change in auditor, total accrual and capability of financial statements fraud proxied by the f-score model
In this study the sample used is 15 non-bank SOE companies that have been listed on the Indonesia Stock Exchange (IDX) in the 2011-2017 period
Summary
Kecurangan Laporan Keuangan merupakan tindakan yang disengaja dalam laporan keuangan sehingga berakibat pada salah saji material. Fraud Diamond merupakan gagasan baru atas fenomena fraud yang dikemukakan oleh Wolfe dan Hermanson (2004). Wolfe dan Hermanson (2004) menyatakan bahwa kecurangan tidak akan terjadi apabila tidak ada orang yang memiliki kemampuan untuk melakukan kecurangan tersebut, karena kecurangan terjadi berawal dari adanya tekanan. Ketika berada dalam kondisi tertekan, pelaku berusaha keluar dari tekanan tersebut dengan cara mencari kesempatan atau peluang. Selanjutnya yang membatasi seseorang untuk melakukan kecurangan adalah rasionalisasi. Dalam hal ini pressure didefinisikan sebagai motivasi yang dapat mengarahkan seseorang bergerak melakukan tindakan fraud. Dalam Statement of Auditing Standards No 99 terdapat empat jenis kondisi umum yang terjadi ketika pressure dan dapat mengakibatkan kecurangan. Di antara elemen fraud lainnya, opportunity merupakan elemen yang paling memungkinkan untuk diminimalisir melalui penerapan proses, prosedur dan control, serta upaya deteksi dini terhadap fraud. Rasionalisasi pada perusahaan dapat diukur dengan siklus pergantian auditor, opini audit yang didapat perusahaan tersebut, serta keadaan total akrual dibagi dengan total aktiva (Statement of Auditing Standards No.99)
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