Evaluasi M-Score dan ICOFR PT X
Abstract
In 2023, the Ministry ABC suspects that there has been manipulation of the financial statements of PT X, with reporting profits for years but negative cash flow, failure to pay so that it was sued for bankruptcy. The research aims to analyze indications of manipulation of financial statements and internal control over financial reports (ICOFR) at PT X. The research uses secondary data in the form of company annual reports from 2012-2022. Indications of financial report manipulation are obtained from the Beneish M-Score calculation. ICOFR analysis is carried out by scoring using the manual content method of 90 ICOFR A Compendium of Approaches and Examples indicators. The research results show that there are indications of manipulation of financial reports except in 2020 and 2021 and internal control over financial reports is getting better from year to year. Good ICOFR score does not guarantee that financial reports are free from indications of manipulation.
Downloads
Download data is not yet available.
References
ACFE. (2022). ACFE.Occupational Fraud 2022: A Report to the Nations.https://acfepublic.s3.us- west- 2.amazonaws.com/2022+Report+to+the+Nations.pdf. Diakses pada 19 Januari 2024.
Agus Irwandi, S., & Ghozali, I. (2019). DETECTION FRAUDULENT FINANCIAL STATEMENT: BENEISH M-SCORE MODEL. WSEAS TRANSACTIONS on BUSINESS and ECONOMICS.
Beneish, M. D. (1999a). The Detection of Earnings Manipulation. Financial Analysts Journal, 55(5), 24–36. https://doi.org/10.2469/faj.v55.n5.2296
COSO Internal Control Framework. (2013). www.ic.coso.org
Dwinanto Bimo, I., Siregar, S. V., Anitawati Hermawan, A., & Wardhani, R. (2019). Internal Control Over Financial Reporting, Organizational Complexity, and Financial Reporting Quality. In International Journal of Economics and Management Journal homepage (Vol. 13, Issue 2). http://www.ijem.upm.edu.my
Eka Christy, Y., & Sugama Stephanus, D. (2018). Pendeteksian Kecurangan Laporan Keuangan dengan Beneish M-Score pada Perusahaan Perbankan Terbuka. https://journal.unika.ac.id/index.php/jab/article/view/1560
Ellet, William. (2018). The Case Study Handbook: A Student’s Guide. Harvard Business Review Press. Revised Edition.
Farradhi, M., & Hartanti, D. (2016). Efektivitas Internal Control over Financial Reporting (ICFR) pada project konstruksi perusahaan BUMN karya. Jurnal Ilmiah Akuntansi Dan Keuangan, 5(7), 2023. https://journal.ikopin.ac.id/index.php/fairvalue
Husnurrosyidah, H., & Fatihah, I. (2022). Fraud Detecting Using Beneish M-Score and F-Score: Which is More Effective? Equilibrium: Jurnal Ekonomi Syariah, 10(1), 137. https://doi.org/10.21043/equilibrium.v10i1.15351
Huu Anh, N., & Ha Linh, N. (2016). Using the M-score Model in Detecting Earnings Management: Evidence from Non-Financial Vietnamese Listed Companies. In VNU Journal of Science: Economics and Business (Vol. 32, Issue 2).
IAI.(2015). Modul Chartered Accountant Indonesia: Sistem Informasi dan Pengendalian Internal.http://iaiglobal.or.id/v03/files/modul/sipi/index.html#p=117.Diakses pada 21 Juli 2023.
Kompas. (2023). https://money.kompas.com/read/2023/06/07/091635026/geger-dugaan-wika-dan-waskita- manipulasi-laporan-keuangan?page=all. diakses pada 21 Juli 2023. Https://Money.Kompas.Com/Read/2023/06/07/091635026/Geger-Dugaan-Wika-Dan-Waskita- Manipulasi-Laporan-Keuangan?Page=all. Diakses Pada 21 Juli 2023.
Koowattanatianchai, N. (2018). THE EXTENT TO WHICH EARNINGS ARE MANIPULATED IN THE CONSTRUCTION SECTOR OF THE STOCK EXCHANGE OF THAILAND AND ITS EXOGENOUS MACROECONOMIC FACTORS. https://doi.org/10.20472/efc.2018.009.008
Lenard, M. J., Petruska, K. A., Alam, P., & Yu, B. (2016). Internal control weaknesses and evidence of real activities manipulation. Advances in Accounting, 33, 47–58. https://doi.org/10.1016/j.adiac.2016.04.008
Mariana, M. & Hakim, L. (2016). Pendeteksian Pemanipulasia Laba:Pengujia Teori Fraud Triangle dan Dampak Pengadopsian IFRS. Simposium Nasional Akuntansi XIX, Lampung.
Public Company Accounting Oversight Board/PCAOB. (2007). Auditing Standard No.5.https://assets.pcaobus.org/pcaob-dev/docs/default source/rulemaking/docket_021/2007-06-12_release_no_2007-005a.pdf?sfvrsn=9685a498_0. Diakses pada 10 Januari 2024
Putri, N., & Lestari, I. P. (2021). ANALISIS DETERMINAN FINANCIAL STATEMENT FRAUDULENT DENGAN MODEL BENEISH M-SCORE (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016 – 2018). Jurnal Ilmiah Ekonomi Bisnis, 26(1), 69–85. https://doi.org/10.35760/eb.2021.v26i1.3269
Rachmi, F. A., Supatmoko, D., Maharani, B., & Akuntansi, J. (2020). Analisis Financial Statement Fraud Menggunakan Beneish M-Score Model Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia (Analysis of Financial Statement Fraud Using Beneish M-Score Model for Mining Companies Listed in Indonesian Stock Exchange). www.idx.com
Rohmatin, B. L., Apriyanto, G., & Zuhroh, D. (2021). The Role of Good Corporate Governance to Fraud Prevention: An analysis based on the Fraud Pentagon. Jurnal Keuangan Dan Perbankan, 25(2). https://doi.org/10.26905/jkdp.v25i2.5554
Roy, C., & Debnath, P. (2015). Earnings Management Practices in Financial Reporting of Public Enterprises in India: An Empirical Test with M-Score. http://ssrn.com/abstract=2551713
Sakti, E., Tarjo, T., Prasetyono, P., & Riskiyadi, Moh. (2020). DETECTION OF FRAUD INDICATIONS IN FINANCIAL STATEMENTS USING FINANCIAL SHENANIGANS. Asia Pacific Fraud Journal, 5(2), 277. https://doi.org/10.21532/apfjournal.v5i2.170
Skousen, C. J., Smith, K. R., Wright, C. J., & Chasteen Chair, L. G. (2008). DETECTING AND PREDICTING FINANCIAL STATEMENT FRAUD: THE EFFECTIVENESS OF THE FRAUD TRAINGLE AND SAS No. 99. http://ssrn.com/abstract=1295494Electroniccopyavailableat:https://ssrn.com/abstract=1295494Electroniccopyavailableat:http://ssrn.com/abstract=1295494Electroniccopyavailableat:https://ssrn.com/abstract=1295494
Suheni, V., Arif, M. F., Tinggi, S., Ekonomi, I., & Bongaya, M. (2020). Mendeteksi financial statement fraud dengan menggunakan Model Beneish M-score (studi pada perusahaan sektor manufaktur yang terdaftar di bursa efek Indonesia). 5(2).
TIM PPA. (2020). Dua Windu PPA: Sang Dokter Korporasi. https://www.ptppa.com/wpcontent/uploads/2021/07/Dua-Windu-PPA-Sang-Dokter-Korporasi.pdf. Diakses pada 11 Januari 2024
TRENASIA. (2023). https://www.trenasia.com/4-perusahaan-konstruksi-pelat-merah-pemilik-aset-terbesar-saat- ini. diakses pada 21 Juli 2023.
Utie, M. S., & Harahap, S. N. (2022). Analysis of Fraudulent Financial Reporting Using the Fraud Triangle (Study Case: PT Tiga Pilar Sejahtera Tbk). https://doi.org/10.33258/birci.v5i1.3791
Virginia, E dan Hermawan A.A.(2023). Internal Control Over Financial Reporting (ICOFR) Analysis (Study Case PT Garuda Indonesia Over the Year 2012-2020). Contemporary Accounting Case Studies. Vol.2 No.1 March 2023.
Wisnu Setyawan, R., & Wijayanti, A. (2016). Evaluasi Efektivitas Internal Control over Financial Reporting (ICoFR) pada Proses Bisnis Distribusi Semen Sak Jalur Darat PT Semen Indonesia (Persero) Tbk. Jurnal Ilmuah Mahasiswa Fakultas Ekonomi dan Bisnis Universitas Brawijaya. https://jimfeb.ub.ac.id/index.php/jimfeb/article/view/2764
Agus Irwandi, S., & Ghozali, I. (2019). DETECTION FRAUDULENT FINANCIAL STATEMENT: BENEISH M-SCORE MODEL. WSEAS TRANSACTIONS on BUSINESS and ECONOMICS.
Beneish, M. D. (1999a). The Detection of Earnings Manipulation. Financial Analysts Journal, 55(5), 24–36. https://doi.org/10.2469/faj.v55.n5.2296
COSO Internal Control Framework. (2013). www.ic.coso.org
Dwinanto Bimo, I., Siregar, S. V., Anitawati Hermawan, A., & Wardhani, R. (2019). Internal Control Over Financial Reporting, Organizational Complexity, and Financial Reporting Quality. In International Journal of Economics and Management Journal homepage (Vol. 13, Issue 2). http://www.ijem.upm.edu.my
Eka Christy, Y., & Sugama Stephanus, D. (2018). Pendeteksian Kecurangan Laporan Keuangan dengan Beneish M-Score pada Perusahaan Perbankan Terbuka. https://journal.unika.ac.id/index.php/jab/article/view/1560
Ellet, William. (2018). The Case Study Handbook: A Student’s Guide. Harvard Business Review Press. Revised Edition.
Farradhi, M., & Hartanti, D. (2016). Efektivitas Internal Control over Financial Reporting (ICFR) pada project konstruksi perusahaan BUMN karya. Jurnal Ilmiah Akuntansi Dan Keuangan, 5(7), 2023. https://journal.ikopin.ac.id/index.php/fairvalue
Husnurrosyidah, H., & Fatihah, I. (2022). Fraud Detecting Using Beneish M-Score and F-Score: Which is More Effective? Equilibrium: Jurnal Ekonomi Syariah, 10(1), 137. https://doi.org/10.21043/equilibrium.v10i1.15351
Huu Anh, N., & Ha Linh, N. (2016). Using the M-score Model in Detecting Earnings Management: Evidence from Non-Financial Vietnamese Listed Companies. In VNU Journal of Science: Economics and Business (Vol. 32, Issue 2).
IAI.(2015). Modul Chartered Accountant Indonesia: Sistem Informasi dan Pengendalian Internal.http://iaiglobal.or.id/v03/files/modul/sipi/index.html#p=117.Diakses pada 21 Juli 2023.
Kompas. (2023). https://money.kompas.com/read/2023/06/07/091635026/geger-dugaan-wika-dan-waskita- manipulasi-laporan-keuangan?page=all. diakses pada 21 Juli 2023. Https://Money.Kompas.Com/Read/2023/06/07/091635026/Geger-Dugaan-Wika-Dan-Waskita- Manipulasi-Laporan-Keuangan?Page=all. Diakses Pada 21 Juli 2023.
Koowattanatianchai, N. (2018). THE EXTENT TO WHICH EARNINGS ARE MANIPULATED IN THE CONSTRUCTION SECTOR OF THE STOCK EXCHANGE OF THAILAND AND ITS EXOGENOUS MACROECONOMIC FACTORS. https://doi.org/10.20472/efc.2018.009.008
Lenard, M. J., Petruska, K. A., Alam, P., & Yu, B. (2016). Internal control weaknesses and evidence of real activities manipulation. Advances in Accounting, 33, 47–58. https://doi.org/10.1016/j.adiac.2016.04.008
Mariana, M. & Hakim, L. (2016). Pendeteksian Pemanipulasia Laba:Pengujia Teori Fraud Triangle dan Dampak Pengadopsian IFRS. Simposium Nasional Akuntansi XIX, Lampung.
Public Company Accounting Oversight Board/PCAOB. (2007). Auditing Standard No.5.https://assets.pcaobus.org/pcaob-dev/docs/default source/rulemaking/docket_021/2007-06-12_release_no_2007-005a.pdf?sfvrsn=9685a498_0. Diakses pada 10 Januari 2024
Putri, N., & Lestari, I. P. (2021). ANALISIS DETERMINAN FINANCIAL STATEMENT FRAUDULENT DENGAN MODEL BENEISH M-SCORE (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016 – 2018). Jurnal Ilmiah Ekonomi Bisnis, 26(1), 69–85. https://doi.org/10.35760/eb.2021.v26i1.3269
Rachmi, F. A., Supatmoko, D., Maharani, B., & Akuntansi, J. (2020). Analisis Financial Statement Fraud Menggunakan Beneish M-Score Model Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia (Analysis of Financial Statement Fraud Using Beneish M-Score Model for Mining Companies Listed in Indonesian Stock Exchange). www.idx.com
Rohmatin, B. L., Apriyanto, G., & Zuhroh, D. (2021). The Role of Good Corporate Governance to Fraud Prevention: An analysis based on the Fraud Pentagon. Jurnal Keuangan Dan Perbankan, 25(2). https://doi.org/10.26905/jkdp.v25i2.5554
Roy, C., & Debnath, P. (2015). Earnings Management Practices in Financial Reporting of Public Enterprises in India: An Empirical Test with M-Score. http://ssrn.com/abstract=2551713
Sakti, E., Tarjo, T., Prasetyono, P., & Riskiyadi, Moh. (2020). DETECTION OF FRAUD INDICATIONS IN FINANCIAL STATEMENTS USING FINANCIAL SHENANIGANS. Asia Pacific Fraud Journal, 5(2), 277. https://doi.org/10.21532/apfjournal.v5i2.170
Skousen, C. J., Smith, K. R., Wright, C. J., & Chasteen Chair, L. G. (2008). DETECTING AND PREDICTING FINANCIAL STATEMENT FRAUD: THE EFFECTIVENESS OF THE FRAUD TRAINGLE AND SAS No. 99. http://ssrn.com/abstract=1295494Electroniccopyavailableat:https://ssrn.com/abstract=1295494Electroniccopyavailableat:http://ssrn.com/abstract=1295494Electroniccopyavailableat:https://ssrn.com/abstract=1295494
Suheni, V., Arif, M. F., Tinggi, S., Ekonomi, I., & Bongaya, M. (2020). Mendeteksi financial statement fraud dengan menggunakan Model Beneish M-score (studi pada perusahaan sektor manufaktur yang terdaftar di bursa efek Indonesia). 5(2).
TIM PPA. (2020). Dua Windu PPA: Sang Dokter Korporasi. https://www.ptppa.com/wpcontent/uploads/2021/07/Dua-Windu-PPA-Sang-Dokter-Korporasi.pdf. Diakses pada 11 Januari 2024
TRENASIA. (2023). https://www.trenasia.com/4-perusahaan-konstruksi-pelat-merah-pemilik-aset-terbesar-saat- ini. diakses pada 21 Juli 2023.
Utie, M. S., & Harahap, S. N. (2022). Analysis of Fraudulent Financial Reporting Using the Fraud Triangle (Study Case: PT Tiga Pilar Sejahtera Tbk). https://doi.org/10.33258/birci.v5i1.3791
Virginia, E dan Hermawan A.A.(2023). Internal Control Over Financial Reporting (ICOFR) Analysis (Study Case PT Garuda Indonesia Over the Year 2012-2020). Contemporary Accounting Case Studies. Vol.2 No.1 March 2023.
Wisnu Setyawan, R., & Wijayanti, A. (2016). Evaluasi Efektivitas Internal Control over Financial Reporting (ICoFR) pada Proses Bisnis Distribusi Semen Sak Jalur Darat PT Semen Indonesia (Persero) Tbk. Jurnal Ilmuah Mahasiswa Fakultas Ekonomi dan Bisnis Universitas Brawijaya. https://jimfeb.ub.ac.id/index.php/jimfeb/article/view/2764
Published
2024-06-28
How to Cite
RIAWATI, Galuh; HERMAWAN, Ancella Anitawati.
Evaluasi M-Score dan ICOFR PT X.
E-Jurnal Akuntansi, [S.l.], v. 34, n. 6, june 2024.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/115015>. Date accessed: 14 nov. 2024.
doi: https://doi.org/10.24843/EJA.2024.v34.i06.p02.
Issue
Section
Artikel
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
