Kemampuan Beneish M-Score Dalam Memprediksi Fraudulent Financial Reporting
Abstract
The aim of this research is to determine the ability of the Beneish M-Score model to predict fraudulent financial reporting in banking companies in Indonesia. The research was conducted on all banking companies listed on the Indonesia Stock Exchange (IDX) in 2017-2021. The method of determining the sample using a non-probability method with purposive sampling technique. The data analysis technique used is discriminant analysis. The results showed that the Beneish M-Score was able to predict fraudulent financial reporting. The practical implication of this research is that investors can consider the Beneish M-Score before making economic decisions. The Beneish M-Score analysis can be an indication (red flag) of a company committing fraudulent financial reporting.
Keywords: Fraudulent Financial Reporting; Beneish M-Score; Discriminant Analysis
Downloads
Download data is not yet available.
References
Abdullahi, R., & Mansor, N. (2018). Fraud prevention initiatives in the Nigerian public sector: Understanding the relationship of fraud incidences and the elements of fraud triangle theory. Journal of Financial Crime, 25(2), 527–544. https://doi.org/10.1108/JFC-02-2015-0008
Alfian, F., & Triani, N. N. A. (2019). Fraudulent Financial Reporting Detection Using Beneish M-Score Model In Public Companies In 2012-2016. Asia Pasific Fraud Journal, 4(1), 27–42. https://doi.org/10.21532/apfj.001.19.04.01.03
Amara, I., Amar, A. ben, & Jarboui, A. (2013). Detection of Fraud in Financial Statements: French Companies as a Case Study. International Journal of Academic Research in Accounting, Finance and Management Sciences, 3(3), 456–472. https://doi.org/10.6007/IJARAFMS/v3-i3/34
Association of Certified Fraud Examiners (ACFE). (2022). Occupational Fraud 2022: A Report To The Nation. https://legacy.acfe.com/report-to-the-nations/2022/
Beneish, M. D. (1999). The Detection of Earning Manipulation. Financial Analysts Journal, 55(5), 24–36.
Bpk.go.id. (2009). Tiga Dose Besar Bank Century. Diunduh dari website: https://www.bpk.go.id/assets/files/attachments/2009/11/Kontan-26.pdf
Cnbcindonesia.com. (2018). Drama Bank Bukopin Kartu Kredit Modifikasi dan Rights Issue. Diunduh dari website: https://www.cnbcindonesia.com/market/20180427144303-17-12810/drama-bank-bukopin-kartu-kredit-modifikasi-dan-rights-issue.
Cressy, D. (1953). Other People’s Money: A Study In The Social Physhology Of Embezzlement (IL). New Jersey: Patterson Smith.
Esa Unggul, U., Indrati, M., Purwaningsih, E., Agustinah, W., & Sarikha, A. (2021). Corporate Governance Mechanisms and Possible Financial Statements Containing Fraud Eny Purwaningsih Corporate Governance Mechanisms and Possible Financial Statements Containing Fraud. Article in Budapest International Research and Critics Institute (BIRCI-Journal) Humanities and Social Sciences. https://doi.org/10.33258/birci.v4i4.2805
Ghozali, I. (2018). Aplikasi Analisis Multivariate Program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponogoro.
Halilbegovic, S., Celebic, N., Cero, E., Buljubasic, E., & Mekic, A. (2020). Aplication of Beneish M-Score Model On Small And Medium Enterprises in Federation of Bosnia and Herzegovina. Eastern Journal Of European Studies, 11(1).
Harlen, S. A., & Harahap, A. A. (2022). Social Control as Fraud Prevention Effort in State Audit Institutions. Asia Pacific Fraud Journal, 7(1), 41. https://doi.org/10.21532/apfjournal.v7i1.250
Himawan, F. A., & Karjono, A. (2019). Analisis Pengaruh Financial Stability, Ineffective Monitoring dan Rationalization Terhadap Integritas Laporan Keuangan Dalam Perspektif Fraud Triangle Pada Perusahaan Manufaktur Yang Terdapat di Bursa Efek Indonesia Periode 2012-2016. ESENSI: Jurnal Manajemen Bisnis, 22(2), 162–188.
Hołda, A. (2020). Using the Beneish M-score model: Evidence from non-financial companies listed on the warsaw stock exchange. Investment Management and Financial Innovations, 17(4), 389–401. https://doi.org/10.21511/imfi.17(4).2020.33
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Mimah, K., Aminah, S., & Saroh, U. (2021). The Effect of Internal Control, Appropriateness of Compensation and Information Asymmetry on Accounting Fraud Tendencies (Study at Cooperatives in Gajah Mungkur District, Semarang City). International Journal of Economics and Management Studies, 8(1), 126–130. https://doi.org/10.14445/23939125/ijems-v8i1p113
Peraturan Bank Indonesia Nomor: 5/8/PBI/2003 Tentang Penerapan Manajemen Risiko Bagi Bank Umum. (n.d.).
Peraturan Bank Indonesia Nomor: 12/ 23 /PBI/2010 Tentang Uji Kemampuan Dan Kepatutan (Fit And Proper Test. (n.d.).
Peraturan Otoritas Jasa Keuangan Nomor 55 /POJK.03/2016 Tentang Penerapan Tata Kelola Bagi Bank Umum. (n.d.).
Peraturan Otoritas Jasa Keuangan Republik Indonesia Nomor 39 /Pojk.03/2019 Tentang Penerapan Strategi Anti Fraud Bagi Bank Umum. (n.d.).
Prischayani, A. P., & Irianto, G. (2020). Fraudulent Financial Reporting Berdasarkan Perspektif Fraud Pentagon Theory (Studi Empiris Pada Perusahaan Multifinance Yang Terdaftar Di BEI Periode 2016-2018). Jurnal Ilmiah Mahasiswa FEB Universitas Brawijaya, 8(2). https://jimfeb.ub.ac.id/index.php/jimfeb/article/view/6529/5700
Rengganis, RR. M. Y. D., Sari, M. M. R., Budiasih, I. G. A. N., Wirajaya, I. G. A., & Suprasto, H. B. (2019). The fraud diamond: element in detecting financial statement of fraud. International Research Journal of Management, IT and Social Sciences, 6(3), 1–10. https://doi.org/10.21744/irjmis.v6n3.621
Rezae, Z. (2002). Financial Statement Fraud: Prevention and Detection. New York: John Wiley & Sons Inc.
Sabău, A. I., Mare, C., & Safta, I. L. (2021). A statistical model of fraud risk in financial statements. Case for romania companies. Risks, 9(6). https://doi.org/10.3390/risks9060116
Simatupang, H. B. (2019). Peranan Perbankan Dalam Meningkatkan Perekonomian Indonesia. In Jurnal Riset Akuntansi Multiparadigma (JRAM) (Vol. 6, Issue 2).
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). Jurnal Akuntansi & Ekonomi FE UN PGRI Kediri, 5(2), 92–99.
Suwardjono. (2006). Teori Akuntansi Perekayasaan Pelaporan Keuangan (Edisi Ketiga). Yogyakarta: BPFE.
Tunakotta, T. M. (2010). Akuntansi Forensik Dan Audit Investigatif (2nd ed.). Salemba Empat.
Valaskova, K., & Fedorko, R. (2021). Beneish M-score: A measure of fraudulent financial transactions in global environment? SHS Web of Conferences, 92, 02064. https://doi.org/10.1051/shsconf/20219202064
Yessi Puspitha, M., & Wirawan Yasa, G. (2018). Fraud Pentagon Analysis in Detecting Fraudulent Financial Reporting (Study on Indonesian Capital Market). International Journal of Sciences: Basic and Applied Research, 42(5), 93–109. http://gssrr.org/index.php?journal=JournalOfBasicAndApplied
Alfian, F., & Triani, N. N. A. (2019). Fraudulent Financial Reporting Detection Using Beneish M-Score Model In Public Companies In 2012-2016. Asia Pasific Fraud Journal, 4(1), 27–42. https://doi.org/10.21532/apfj.001.19.04.01.03
Amara, I., Amar, A. ben, & Jarboui, A. (2013). Detection of Fraud in Financial Statements: French Companies as a Case Study. International Journal of Academic Research in Accounting, Finance and Management Sciences, 3(3), 456–472. https://doi.org/10.6007/IJARAFMS/v3-i3/34
Association of Certified Fraud Examiners (ACFE). (2022). Occupational Fraud 2022: A Report To The Nation. https://legacy.acfe.com/report-to-the-nations/2022/
Beneish, M. D. (1999). The Detection of Earning Manipulation. Financial Analysts Journal, 55(5), 24–36.
Bpk.go.id. (2009). Tiga Dose Besar Bank Century. Diunduh dari website: https://www.bpk.go.id/assets/files/attachments/2009/11/Kontan-26.pdf
Cnbcindonesia.com. (2018). Drama Bank Bukopin Kartu Kredit Modifikasi dan Rights Issue. Diunduh dari website: https://www.cnbcindonesia.com/market/20180427144303-17-12810/drama-bank-bukopin-kartu-kredit-modifikasi-dan-rights-issue.
Cressy, D. (1953). Other People’s Money: A Study In The Social Physhology Of Embezzlement (IL). New Jersey: Patterson Smith.
Esa Unggul, U., Indrati, M., Purwaningsih, E., Agustinah, W., & Sarikha, A. (2021). Corporate Governance Mechanisms and Possible Financial Statements Containing Fraud Eny Purwaningsih Corporate Governance Mechanisms and Possible Financial Statements Containing Fraud. Article in Budapest International Research and Critics Institute (BIRCI-Journal) Humanities and Social Sciences. https://doi.org/10.33258/birci.v4i4.2805
Ghozali, I. (2018). Aplikasi Analisis Multivariate Program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponogoro.
Halilbegovic, S., Celebic, N., Cero, E., Buljubasic, E., & Mekic, A. (2020). Aplication of Beneish M-Score Model On Small And Medium Enterprises in Federation of Bosnia and Herzegovina. Eastern Journal Of European Studies, 11(1).
Harlen, S. A., & Harahap, A. A. (2022). Social Control as Fraud Prevention Effort in State Audit Institutions. Asia Pacific Fraud Journal, 7(1), 41. https://doi.org/10.21532/apfjournal.v7i1.250
Himawan, F. A., & Karjono, A. (2019). Analisis Pengaruh Financial Stability, Ineffective Monitoring dan Rationalization Terhadap Integritas Laporan Keuangan Dalam Perspektif Fraud Triangle Pada Perusahaan Manufaktur Yang Terdapat di Bursa Efek Indonesia Periode 2012-2016. ESENSI: Jurnal Manajemen Bisnis, 22(2), 162–188.
Hołda, A. (2020). Using the Beneish M-score model: Evidence from non-financial companies listed on the warsaw stock exchange. Investment Management and Financial Innovations, 17(4), 389–401. https://doi.org/10.21511/imfi.17(4).2020.33
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Mimah, K., Aminah, S., & Saroh, U. (2021). The Effect of Internal Control, Appropriateness of Compensation and Information Asymmetry on Accounting Fraud Tendencies (Study at Cooperatives in Gajah Mungkur District, Semarang City). International Journal of Economics and Management Studies, 8(1), 126–130. https://doi.org/10.14445/23939125/ijems-v8i1p113
Peraturan Bank Indonesia Nomor: 5/8/PBI/2003 Tentang Penerapan Manajemen Risiko Bagi Bank Umum. (n.d.).
Peraturan Bank Indonesia Nomor: 12/ 23 /PBI/2010 Tentang Uji Kemampuan Dan Kepatutan (Fit And Proper Test. (n.d.).
Peraturan Otoritas Jasa Keuangan Nomor 55 /POJK.03/2016 Tentang Penerapan Tata Kelola Bagi Bank Umum. (n.d.).
Peraturan Otoritas Jasa Keuangan Republik Indonesia Nomor 39 /Pojk.03/2019 Tentang Penerapan Strategi Anti Fraud Bagi Bank Umum. (n.d.).
Prischayani, A. P., & Irianto, G. (2020). Fraudulent Financial Reporting Berdasarkan Perspektif Fraud Pentagon Theory (Studi Empiris Pada Perusahaan Multifinance Yang Terdaftar Di BEI Periode 2016-2018). Jurnal Ilmiah Mahasiswa FEB Universitas Brawijaya, 8(2). https://jimfeb.ub.ac.id/index.php/jimfeb/article/view/6529/5700
Rengganis, RR. M. Y. D., Sari, M. M. R., Budiasih, I. G. A. N., Wirajaya, I. G. A., & Suprasto, H. B. (2019). The fraud diamond: element in detecting financial statement of fraud. International Research Journal of Management, IT and Social Sciences, 6(3), 1–10. https://doi.org/10.21744/irjmis.v6n3.621
Rezae, Z. (2002). Financial Statement Fraud: Prevention and Detection. New York: John Wiley & Sons Inc.
Sabău, A. I., Mare, C., & Safta, I. L. (2021). A statistical model of fraud risk in financial statements. Case for romania companies. Risks, 9(6). https://doi.org/10.3390/risks9060116
Simatupang, H. B. (2019). Peranan Perbankan Dalam Meningkatkan Perekonomian Indonesia. In Jurnal Riset Akuntansi Multiparadigma (JRAM) (Vol. 6, Issue 2).
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). Jurnal Akuntansi & Ekonomi FE UN PGRI Kediri, 5(2), 92–99.
Suwardjono. (2006). Teori Akuntansi Perekayasaan Pelaporan Keuangan (Edisi Ketiga). Yogyakarta: BPFE.
Tunakotta, T. M. (2010). Akuntansi Forensik Dan Audit Investigatif (2nd ed.). Salemba Empat.
Valaskova, K., & Fedorko, R. (2021). Beneish M-score: A measure of fraudulent financial transactions in global environment? SHS Web of Conferences, 92, 02064. https://doi.org/10.1051/shsconf/20219202064
Yessi Puspitha, M., & Wirawan Yasa, G. (2018). Fraud Pentagon Analysis in Detecting Fraudulent Financial Reporting (Study on Indonesian Capital Market). International Journal of Sciences: Basic and Applied Research, 42(5), 93–109. http://gssrr.org/index.php?journal=JournalOfBasicAndApplied
Published
2023-02-26
How to Cite
PUSPITHA, Made Yessi; DIANTINI, Ni Nyoman Ayu.
Kemampuan Beneish M-Score Dalam Memprediksi Fraudulent Financial Reporting.
E-Jurnal Akuntansi, [S.l.], v. 33, n. 2, p. 570-588, feb. 2023.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/98096>. Date accessed: 24 apr. 2024.
doi: https://doi.org/10.24843/EJA.2023.v33.i02.p20.
Issue
Section
Artikel
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
