DETECTION ANALYSIS ON FRAUDULENT FINANCIAL REPORTING USING FRAUD SCORE MODEL
Abstract
This study aims to examine the elements of fraud in the fraud diamond theory. Fraud is proxied by seven variables consisting of three pressure elements namely financial target, financial stability, external pressure, two variables of opportunity element, namely effective monitoring and nature of industry, one variable from the rationalization element, namely change in auditor, one variable from capability element namely change in directors, which is hypothesized to affect financial statements fraud. This study uses earnings management to see the potential for fraudulent financial statements. Earning management is measured using the F-Score indicator. The research sample was selected using a purposive sampling method from 30 manufacturing companies and a research period of 5 years to obtain the number of sample units of 155 data which is listed on the Indonesia Stock Exchange (IDX) for the period of 2013 to 2017. The hypothesis testing used a multiple regression analysis model using SPSS 23. The results of the study indicate that financial targets and changes in auditor financial stability have a significant positive effect on fraudulent financial statements. While external pressure, effective monitoring, nature of industry, financial stability, change of directors, have no effect on financial statements fraud.
References
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Ahsan, Habib. (2013). Overvalued equities and audit fees: a research note. Vol. 28 Issue: 8, pp.755-776, https://doi.org/10.1108/MAJ-01-2013-0818.
AICPA. (2002). AU Section 316 Consideration of Fraud in a Financial, (99, 113), 167–218.
Albrecht et al. (2012). Fraud Examination (4th ed.). South-Western: Cengage Learning.
Annisya, et al. (2016).Pendeteksian Kecurang Laporan Keuangan Menggunakan Fraud Diamond. Jurnal Bisnis Dan Ekonomi (JBE), 23(1), 72–89.
Andayani, T.D. (2010). Pengaruh Karakteristik Dewan Komisaris dan Komite Audit terhadap Manajemen Laba (Studi Pada Perusahaan Manufajtur yang Terdaftar di Bursa Efek Indonesia). Tesis, Universitas Diponegoro.
Cressey, D. R. (1953). Other People’s Money: A Study in the Social Psychology of Embezzlemente. New Jersey: Patterson Smith.
Dechow, P. M., Ge, W., Larson, C. R., and Sloan, R. G. (2011). Predicting Material Accounting Misstatements. Contemporary Accounting Research, Vol. 28 No. 1, 17–82. Available athttps://doi.org/10.1111/j.1911-3846.2010.01041.x
Effendi, M. A. (2008). The Power Of Good Corporate Governance : Teori dan Implementasi. Jakarta: Salemba Empat.
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Ghozali, I. (2013). Aplikasi Analisis Multivariate Dengan Program SPSS (7th ed.). Semarang: BP Universitas Diponegoro.
Indarto, S. L., and Ghozali, I. (2016). Fraud Diamond: Detection Analysis on The Fraudulent Financial Reporting. Risk Governance & Control: Financial Markets & Institutions, 6(4), 116–123.
Integrity-indonesia.com.( 2017, September 14). Skandal Keuangan Perusahaan Toshiba. Accessed from https://integrity-indonesia.com/id/blog/2017/09/14/skandal-keuangan-perusahaan-toshiba/
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Jensen, M. C., dan Meckling, W. H. (1976). Theory of the Firm : Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305–306
Kurniawansyah, D. (2018). Apakah Manajemen Laba Termasuk Kecurangan? : Analisis Literatur. Vol. 3, No 1, pp.341-356, http://dx.doi.org/10.31093/jraba.v3i1.97
Loebbecke, J. K., Eining, M. M., and Willingham, J. J. (1989). Auditors’ Experience with Material Irregularities: Frequency, Nature, and Detectability. Auditing: A Journal of Practice & Theory, 9(1), 1–28.
Manurung, D. T. H., and Hardika, A. L. (2015). Analysis of factors that influence financial statement fraud in the perspective fraud diamond : Empirical study on banking companies listed on the Indonesia Stock Exchange year 2012 to 2014. Paper dipresentasikan di International Conference on Accounting Studies 2015, Johor, Johor Baru, Malaysia, 17-20 Agustus.
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Nugraheni, N. K and Triatmoko, H. (2017). Analisis Faktor-faktor yang mempengaruhi terjadinya Financial Statement Fraud : Perpektif Fraud diamond Theory (Studi Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia Periode 2014-2016).Journal Akuntansi dan Auditing. Vol 14, No 2. https://doi.org/10.14710/jaa.14.2.118-143
Nurbaiti, Z., & Hanafi, R. (2017). Analisis Pengaruh Fraud Diamond Dalam Mendeteksi Tingkat Accounting Irregularities. Jurnal Akuntansi Indonesia, Vol. 6 No. 2, 167–184.
Paul M. Healy and James M. Wahlen (1999) A Review of the Earnings Management Literature and Its Implications for Standard Setting. Accounting Horizons: December 1999, Vol. 13, No. 4, pp. 365-383.
Prasmaulida, S. (2016). Financial Statement Fraud Detection Using Perspective of Fraud Triangle Adopted by SAS No. 99. Asia Pacific Fraud Journal, 1(2), 317. https://doi.org/10.21532/apfj.001.16.01.02.24
Richardson, S. A., Sloan, R. G., Soliman, M. T., dan Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of Accounting and Economics, 39(3), 437–485. https://doi.org/10.1016/j.jacceco.2005.04.005
Skousen, C. J., Smith, K. R., and Wright, C. J. (2008). Detecting and predicting financial statement fraud: the effectiveness of the fraud traingle and. Retrieved from http://ssrn.com/abstract=1295494
________. (2009). Fraud in Emerging Markets: A Cross Country Analysis. Retrieved from http://ssrn.com/abstract=1340586
Siddiq, F. R., & Hadinata, S. (2016). Fraud Diamond Dalam Financial Statement Fraud. Jurnal Bisnis Dan Manajemen Islam, Vol.4, No. 2
Sihombing, K. S., and Rahardjo, S. N. (2014). Analisis Fraud Diamond Dalam Mendeteksi Financial Statement Fraud : Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia ( Bei ) Tahun 2010-2012. Diponegoro Journal of Accounting, 3(2).
________. (2014). Analisis Fraud Diamond Dalam Mendeteksi Financial Statement Fraud : Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia ( Bei ) Tahun 2010-2012. Diponegoro Journal of Accounting, 3(2).
Sukrisnadi, D. (2010). Pemakaian Ukuran F-Score dalam Kasus-Kasus Salah Saji Laporan Keuangan di Pasar Modal Indonesia. Tesis, Universitas Indonesia
_________. (2010). Pemakaian Ukuran F-Score dalam Kasus-Kasus Salah Saji Laporan Keuangan di Pasar Modal Indonesia. Tesis, Universitas Indonesia.
Summers, S. L., dan Sweeney, J. T. (1998). Fraudulently Mistated Financial Statements An and Insider Trading An Empirical Analysis. The Accounting Review, 73(1), 131–146
Sunardi, S. and Amin, N, M. (2018). Fraud detection of financial statement by using fraud diamond perspective.International Journal of Development and Sustainability. Vol. 7 No. 3, pp. 878-891.
Suyono, Eko. (2017). Berbagai Model Pengukuran Earning Management: Mana yang paling akurat. Prosiding Seminar Nasional & Call for Paper (SCA 2017) FEB UNSOED. Vol 7, No 1. 303-324.
Wahyuninngtias, Fauziah. 2016. Analisis Elemen-Elemen Fraud Diamond Sebagai Determinan Finansial Statement Fraud Pada Perusahaan Perbankan Di Indonesia. The Master of Accounting Study Thesis Program was published, Universitas Airlangga.
Wells, J. (2011). Principles of Fraud Examination (Third Edit). New Jersey: John Wiley and Sons.
Widarjono, A. (2015). Statistika Terapan dengan Excell dan SPSS (1st ed.). Yogyakarta: UPP STIM YKPN.
Widarti. (2015). Pengaruh Fraud Trriangle Terhadap Deteksi Kecurangan Laporan Keuangan Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI). 230-244
Wolfe, D. T., and Hermanson, D. R. (2004). The Fraud Diamond : Considering the Four Elements of Fraud. CPA Journal, 12(74), 38–42.
Wahyuninngtias, Fauziah. 2016. Analisis Elemen-Elemen Fraud Diamond Sebagai Determinan Finansial Statement Fraud Pada Perusahaan Perbankan Di Indonesia. The Master of Accounting Study Thesis Program was published, Universitas Airlangga.
_______. (2018). Report to Nations. Association of Certified Fraud Examiners. Austin. Retrieved from www.acfe.com/uploadedFiles/ACFE_Website/ Content/rttn/2018 /RTTN- Asia-Pacific-Edition.pdf
Aghghaleh S.F, et al. (2016). Detecting Financial Statement Frauds In Malaysia: Comparing The Abilities Of Beneish and Dechow Models. Asian Journal of Accounting anf Governance,Vol 7(2016). http://dx.doi.org/10.17576/AJAG-2016-07-05
Ahsan, Habib. (2013). Overvalued equities and audit fees: a research note. Vol. 28 Issue: 8, pp.755-776, https://doi.org/10.1108/MAJ-01-2013-0818.
AICPA. (2002). AU Section 316 Consideration of Fraud in a Financial, (99, 113), 167–218.
Albrecht et al. (2012). Fraud Examination (4th ed.). South-Western: Cengage Learning.
Annisya, et al. (2016).Pendeteksian Kecurang Laporan Keuangan Menggunakan Fraud Diamond. Jurnal Bisnis Dan Ekonomi (JBE), 23(1), 72–89.
Andayani, T.D. (2010). Pengaruh Karakteristik Dewan Komisaris dan Komite Audit terhadap Manajemen Laba (Studi Pada Perusahaan Manufajtur yang Terdaftar di Bursa Efek Indonesia). Tesis, Universitas Diponegoro.
Cressey, D. R. (1953). Other People’s Money: A Study in the Social Psychology of Embezzlemente. New Jersey: Patterson Smith.
Dechow, P. M., Ge, W., Larson, C. R., and Sloan, R. G. (2011). Predicting Material Accounting Misstatements. Contemporary Accounting Research, Vol. 28 No. 1, 17–82. Available athttps://doi.org/10.1111/j.1911-3846.2010.01041.x
Effendi, M. A. (2008). The Power Of Good Corporate Governance : Teori dan Implementasi. Jakarta: Salemba Empat.
Ernst & Young. (2009).Deterrence and detection of financial fraud. Available at www.ey.com/Publication/vwLUAssets/Deterrence_and_detection_of_financial_fraud/$FILE/EY-Deterrence-and-detection-of-financial-fraud.pdf on September 24, 2018.
Ghozali, I. (2013). Aplikasi Analisis Multivariate Dengan Program SPSS (7th ed.). Semarang: BP Universitas Diponegoro.
Indarto, S. L., and Ghozali, I. (2016). Fraud Diamond: Detection Analysis on The Fraudulent Financial Reporting. Risk Governance & Control: Financial Markets & Institutions, 6(4), 116–123.
Integrity-indonesia.com.( 2017, September 14). Skandal Keuangan Perusahaan Toshiba. Accessed from https://integrity-indonesia.com/id/blog/2017/09/14/skandal-keuangan-perusahaan-toshiba/
Iqbal, M., and Murtanto. (2016). Analisa Pengaruh Faktor-Faktor Fraud Triangle terhadap Kecurangan Laporan Keuangan pada Perusahaan Proferty dan Real Estate yang Terdaftar di Bursa Efek Indonesia. Seminar Nasional Cendikiawan 2016, (2002), 17.2-17.20.
Jensen, M. C., dan Meckling, W. H. (1976). Theory of the Firm : Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3(4), 305–306
Kurniawansyah, D. (2018). Apakah Manajemen Laba Termasuk Kecurangan? : Analisis Literatur. Vol. 3, No 1, pp.341-356, http://dx.doi.org/10.31093/jraba.v3i1.97
Loebbecke, J. K., Eining, M. M., and Willingham, J. J. (1989). Auditors’ Experience with Material Irregularities: Frequency, Nature, and Detectability. Auditing: A Journal of Practice & Theory, 9(1), 1–28.
Manurung, D. T. H., and Hardika, A. L. (2015). Analysis of factors that influence financial statement fraud in the perspective fraud diamond : Empirical study on banking companies listed on the Indonesia Stock Exchange year 2012 to 2014. Paper dipresentasikan di International Conference on Accounting Studies 2015, Johor, Johor Baru, Malaysia, 17-20 Agustus.
Nanda Santoso. (2017). Predicting Financial Statement Fraud with Fraud Diamond Model of Manufacturing Companies Listed in Indonesia. pp 151-163, 10.1007/978-981-10-6926-0_9
Nugraheni, N. K and Triatmoko, H. (2017). Analisis Faktor-faktor yang mempengaruhi terjadinya Financial Statement Fraud : Perpektif Fraud diamond Theory (Studi Pada Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia Periode 2014-2016).Journal Akuntansi dan Auditing. Vol 14, No 2. https://doi.org/10.14710/jaa.14.2.118-143
Nurbaiti, Z., & Hanafi, R. (2017). Analisis Pengaruh Fraud Diamond Dalam Mendeteksi Tingkat Accounting Irregularities. Jurnal Akuntansi Indonesia, Vol. 6 No. 2, 167–184.
Paul M. Healy and James M. Wahlen (1999) A Review of the Earnings Management Literature and Its Implications for Standard Setting. Accounting Horizons: December 1999, Vol. 13, No. 4, pp. 365-383.
Prasmaulida, S. (2016). Financial Statement Fraud Detection Using Perspective of Fraud Triangle Adopted by SAS No. 99. Asia Pacific Fraud Journal, 1(2), 317. https://doi.org/10.21532/apfj.001.16.01.02.24
Richardson, S. A., Sloan, R. G., Soliman, M. T., dan Tuna, I. (2005). Accrual reliability, earnings persistence and stock prices. Journal of Accounting and Economics, 39(3), 437–485. https://doi.org/10.1016/j.jacceco.2005.04.005
Skousen, C. J., Smith, K. R., and Wright, C. J. (2008). Detecting and predicting financial statement fraud: the effectiveness of the fraud traingle and. Retrieved from http://ssrn.com/abstract=1295494
________. (2009). Fraud in Emerging Markets: A Cross Country Analysis. Retrieved from http://ssrn.com/abstract=1340586
Siddiq, F. R., & Hadinata, S. (2016). Fraud Diamond Dalam Financial Statement Fraud. Jurnal Bisnis Dan Manajemen Islam, Vol.4, No. 2
Sihombing, K. S., and Rahardjo, S. N. (2014). Analisis Fraud Diamond Dalam Mendeteksi Financial Statement Fraud : Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia ( Bei ) Tahun 2010-2012. Diponegoro Journal of Accounting, 3(2).
________. (2014). Analisis Fraud Diamond Dalam Mendeteksi Financial Statement Fraud : Studi Empiris Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia ( Bei ) Tahun 2010-2012. Diponegoro Journal of Accounting, 3(2).
Sukrisnadi, D. (2010). Pemakaian Ukuran F-Score dalam Kasus-Kasus Salah Saji Laporan Keuangan di Pasar Modal Indonesia. Tesis, Universitas Indonesia
_________. (2010). Pemakaian Ukuran F-Score dalam Kasus-Kasus Salah Saji Laporan Keuangan di Pasar Modal Indonesia. Tesis, Universitas Indonesia.
Summers, S. L., dan Sweeney, J. T. (1998). Fraudulently Mistated Financial Statements An and Insider Trading An Empirical Analysis. The Accounting Review, 73(1), 131–146
Sunardi, S. and Amin, N, M. (2018). Fraud detection of financial statement by using fraud diamond perspective.International Journal of Development and Sustainability. Vol. 7 No. 3, pp. 878-891.
Suyono, Eko. (2017). Berbagai Model Pengukuran Earning Management: Mana yang paling akurat. Prosiding Seminar Nasional & Call for Paper (SCA 2017) FEB UNSOED. Vol 7, No 1. 303-324.
Wahyuninngtias, Fauziah. 2016. Analisis Elemen-Elemen Fraud Diamond Sebagai Determinan Finansial Statement Fraud Pada Perusahaan Perbankan Di Indonesia. The Master of Accounting Study Thesis Program was published, Universitas Airlangga.
Wells, J. (2011). Principles of Fraud Examination (Third Edit). New Jersey: John Wiley and Sons.
Widarjono, A. (2015). Statistika Terapan dengan Excell dan SPSS (1st ed.). Yogyakarta: UPP STIM YKPN.
Widarti. (2015). Pengaruh Fraud Trriangle Terhadap Deteksi Kecurangan Laporan Keuangan Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI). 230-244
Wolfe, D. T., and Hermanson, D. R. (2004). The Fraud Diamond : Considering the Four Elements of Fraud. CPA Journal, 12(74), 38–42.
Wahyuninngtias, Fauziah. 2016. Analisis Elemen-Elemen Fraud Diamond Sebagai Determinan Finansial Statement Fraud Pada Perusahaan Perbankan Di Indonesia. The Master of Accounting Study Thesis Program was published, Universitas Airlangga.
Published
2019-12-16
How to Cite
IRAWAN, Puput Ade; SUSILOWATI, Dewi; PUSPASARI, Novita.
DETECTION ANALYSIS ON FRAUDULENT FINANCIAL REPORTING USING FRAUD SCORE MODEL.
SAR (Soedirman Accounting Review) : Journal of Accounting and Business, [S.l.], v. 4, n. 2, p. 161-180, dec. 2019.
ISSN 2598-0718.
Available at: <https://jos.unsoed.ac.id/index.php/sar/article/view/2467>. Date accessed: 05 july 2025.
doi: https://doi.org/10.20884/1.sar.2019.4.2.2467.
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Articles
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