Hexagon Fraud Analysis Using Beneish Ratio Index Method on Indonesia Healthcare Industry
Abstract
The rapid growth of the industry requires governance to minimize the risks that may be detrimental to stakeholders due to the lack of security and monitoring that has caused fraudulent activity, especially in the healthcare industry. It has been proven by the identification of cases of fraud in health services, but it needs to be analyzed more deeply to find information that leads to changes in the presentation of financial statements, where this study adopted 7 variables of hexagon fraud on the health industry with calculations using beneish ratio index. The research adopted a quantitative method by obtaining data from the Indonesian Stock Exchange in the period 2016-2021, where there were 72 data of 12 companies that meeting the criteria of 24 companies. The results showed financial stability has an influence on fraudulent financial statements. However, the rest of the variables have no influence on fraudulent financial statements. Therefore, financial stability in the healthcare industry needs to be seen as an indicator with a built-in anticipation to minimize the risk of fraud in operational activities.
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ACFE. (2022). Occupational Fraud 2022: A Report to the nations. Acfe, 1–96.
Al-Matari, O. M. M., Helal, I. M. A., Mazen, S. A., & Elhennawy, S. (2021). Integrated framework for cybersecurity auditing. Information Security Journal. https://doi.org/10.1080/19393555.2020.1834649
Apsari, A. K., & Suhartini, D. (2021). Religiosity as Moderating of Accounting Student Academic Fraud with a Hexagon Theory Approach. Accounting and Finance Studies, 1(3), 212-231.
Aprilia, A. (2017). Analisis pengaruh fraud pentagon terhadap kecurangan laporan keuangan menggunakan beneish model pada perusahaan yang menerapkan asean corporate governance scorecard. Jurnal ASET (Akuntansi Riset), 9(1), 101-132.
Beneish, M. D. (1999). The detection of earnings manipulation. Financial Analysts Journal, 55(5), 24-36.
Bergstresser, D., & Philippon, T. (2006). CEO incentives and earnings management. Journal of Financial Economics. https://doi.org/10.1016/j.jfineco.2004.10.011
Bowen, G. A. (2009). Document analysis as a qualitative research method. Qualitative Research Journal. https://doi.org/10.3316/QRJ0902027
Canaday, H. (2018). Going digital. Aviation Week and Space Technology, 180(3), MR025–MR026.
Cleff, T. (2019). Applied statistics and multivariate data analysis for business and economics: A modern approach using SPSS, Stata, and Excel. In Springer.
Desviana, Basri, Y. M., & Nasrizal. (2020). Analisis Kecurangan pada Pengelolaan Dana Desa dalam Perspektif Fraud Hexagon. Studi Akuntansi Dan Keuangan Indonesia, 3(1), 50–73.
Devi, S., Warasniasih, N. M. S., & Masdiantini, P. R. (2020). The Impact of COVID-19 Pandemic on the Financial Performance of Firms on the Indonesia Stock Exchange. Journal of Economics, Business, & Accountancy Ventura. https://doi.org/10.14414/jebav.v23i2.2313
El Diri, M., Lambrinoudakis, C., & Alhadab, M. (2020). Corporate governance and earnings management in concentrated markets. Journal of Business Research. https://doi.org/10.1016/j.jbusres.2019.11.013
Fadzil, F. H., Haron, H., & Jantan, M. (2005). Internal auditing practices and internal control system. Managerial Auditing Journal. https://doi.org/10.1108/02686900510619683
Friday, I., & Japhet, I. (2020). Information technology and the accountant today: What has really changed? Journal of Accounting and Taxation. https://doi.org/10.5897/jat2019.0358
Gupta, S., Meissonier, R., Drave, V. A., & Roubaud, D. (2020). Examining the impact of Cloud ERP on sustainable performance: A dynamic capability view. International Journal of Information Management. https://doi.org/10.1016/j.ijinfomgt.2019.10.013
Huynh, Q. L. (2020). A triple of corporate governance, social responsibility and earnings management. Journal of Asian Finance, Economics and Business. https://doi.org/10.13106/jafeb.2020.vol7.no3.29
Islam, M. S., Farah, N., & Stafford, T. F. (2018). Factors associated with security/cybersecurity audit by internal audit function: An international study. Managerial Auditing Journal. https://doi.org/10.1108/MAJ-07-2017-1595
Klamm, B. K., & Watson, M. W. (2009). SOX 404 reported internal control weaknesses: A test of COSO framework components and information technology. Journal of Information Systems. https://doi.org/10.2308/jis.2009.23.2.1
Kolbjørnsrud, V., Amico, R., & Thomas, R. J. (2017). Partnering with Al: How organizations can win over skeptical managers. Strategy and Leadership. https://doi.org/10.1108/SL-12-2016-0085
Kumaraswamy, A., Garud, R., & Ansari, S. (Shaz). (2018). Perspectives on Disruptive Innovations. Journal of Management Studies. https://doi.org/10.1111/joms.12399
Kyere, M., & Ausloos, M. (2021). Corporate governance and firms financial performance in the United Kingdom. International Journal of Finance and Economics. https://doi.org/10.1002/ijfe.1883
Mardiastuti, A. (2017, September 14). ICW Temukan 49 Kecurangan Terkait Jaminan Kesehatan di 15 Provinsi. Retrieved from DetikNews: https://news.detik.com/berita/d-3643405/icw-temukan-49-kecurangan-terkait-jaminan-kesehatan-di-15-provinsi
Oliveira, M., Sousa, M., Silva, R., & Santos, T. (2021). Strategy and human resources management in non-profit organizations: Its interaction with open innovation. Journal of Open Innovation: Technology, Market, and Complexity. https://doi.org/10.3390/joitmc7010075
Raguseo, E. (2018). Big data technologies: An empirical investigation on their adoption, benefits and risks for companies. International Journal of Information Management, 38(1), 187–195. https://doi.org/10.1016/j.ijinfomgt.2017.07.008
Rezaee, Z., & Wang, J. (2019). Relevance of big data to forensic accounting practice and education. Managerial Auditing Journal. https://doi.org/10.1108/MAJ-08-2017-1633
Sari, S. P., & Nugroho, N. K. (2020). Financial Statements Fraud dengan Pendekatan Vousinas Fraud Hexagon Model: Tinjauan pada Perusahaan Terbuka di Indonesia. 1st Annual Conference of Ihtifaz, 409–430. http://seminar.uad.ac.id/index.php/ihtifaz/article/download/3641/1023
Schillemans, T., & Bjurstrøm, K. H. (2020). Trust and verification: balancing agency and stewardship theory in the governance of agencies. International Public Management Journal. https://doi.org/10.1080/10967494.2018.1553807
Sorescu, A. (2017). Data-Driven Business Model Innovation. Journal of Product Innovation Management. https://doi.org/10.1111/jpim.12398
Sugiyono. (2015). Metode Penelitian Pendidikan. Bandung. In Metode Penelitian Pendidikan (Pendekatan Kuantitatif, Kualitatif, dan R&D).
Sukmadilaga, C., Winarningsih, S., Handayani, T., Herianti, E., & Ghani, E. K. (2022). Fraudulent Financial Reporting in Ministerial and Governmental Institutions in Indonesia: An Analysis Using Hexagon Theory. Economies, 10(4), 86.
Suryandari, E., & Pratama, L. V. (2021). Determinan fraud dana desa: Pengujian elemen fraud hexagon, Machiavellian, dan love of money. Reviue Akuntansi dan Bisnis Indonesia, 5, 55-78.
Uma Sekaran, & Roger Bougie. (2016). Research Method for Business Textbook (A Skill Building Approa). United States: John Wiley & Sons Inc.
Vousinas, G.L. (2019), "Advancing theory of fraud: the S.C.O.R.E. model", Journal of Financial Crime, Vol. 26 No. 1, pp. 372-381. https://doi.org/10.1108/JFC-12-2017-0128
Wicaksana, E. A. (2019). Pendeteksian kecurangan laporan keuangan pada perusahaan pertambangan di bursa efek indonesia. Jurnal RAK (Riset Akuntansi Keuangan), 4(1), 44-59.
Widowati, A., & Oktoriza, L. (2022). PENDETEKSIAN KECURANGAN LAPORAN KEUANGAN DENGAN BENISH M-SCORE PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA.
Published
2024-04-30
How to Cite
DENISWARA, Kevin; MULYAWAN, Archie Nathanael; PRAWIRA, Pieter.
Hexagon Fraud Analysis Using Beneish Ratio Index Method on Indonesia Healthcare Industry.
E-Jurnal Akuntansi, [S.l.], v. 34, n. 4, p. 846-860, apr. 2024.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/96937>. Date accessed: 04 nov. 2024.
doi: https://doi.org/10.24843/EJA.2024.v34.i04.p01.
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