Pengujian Fraud Triangle Theory Dalam Menjelaskan Kecurangan Laporan Keuangan  Menggunakan Beneish M-Score

Tan Ming Kuang; Esther  Natalia

doi:10.33395/owner.v7i2.1296

Authors

Tan Ming Kuang Universitas Kristen Maranatha
Esther Natalia

DOI:

10.33395/owner.v7i2.1296

Keywords:

Financial statement fraud; Beneish M-score, Pressure, Opportunity, Rationalization

Abstract

Financial statements must be reliable and free from bias as they represent management accountability to investors. Yet, companies have many incentives to manipulate financial statements to meet investors’ performance expectations. Therefore, this study aims to examine the fraud triangle theory (pressure proxy by financial stability, opportunity proxy by nature of the industry, and rationalization proxy by total accrual to total assets) in explaining factors that cause management to commit fraud on financial statements. The population of this study is the manufacturing sector companies listed on the Indonesia Stock Exchange during the period 2018-2020. This study performs purposive sampling method to collect financial data of 102 manufacturing companies from the website of the Indonesia stock exchange (www.idx.co.id) and Refinitiv Eikon database. Based on 306 observations obtained and tested using the logistic linear regression analysis, this study found that pressure (financial stability) had no effect on financial statement fraud, while the opportunity (nature of industry) and rationalization (total accrual to total assets) had a positive effect on financial statement fraud. These findings imply that nature of industry and total accrual to total assets are effective proxy of opportunity and rationalization respectively to predict financial statement fraud measured using Beneish M-Score, particularly the financial statements of the manufacturing companies.

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