Membedah Kecurangan Laporan Keuangan BUMN Melalui Lensa Fraud Hexagon: Studi Empiris di BEI
DOI:
https://doi.org/10.47065/arbitrase.v6i3.3026Keywords:
Financial Targets; Change in Director; Nature of Industry; Financial Statement Fraud; Fraud HexagonAbstract
Financial reporting fraud can erode stakeholder trust and result in significant losses. This study aims to analyze the influence of the fraud hexagon elements on financial reporting fraud in state-owned enterprises listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period, using several proxies acknowledged to have theoretical limitations, such as change in director for capability, audit fee for collusion, change in auditor for rationalization, and frequency of CEO’s picture for arrogance. The independent variables used include financial targets (pressure), changes in directors (capability), audit fees (collusion), nature of industry (opportunity), changes in auditors (rationalization), and the frequency of CEO’s photos (arrogance). This study employs a quantitative approach using secondary data obtained from financial statements and annual reports, analyzed via multiple linear regression on 81 observations selected through purposive sampling. The results of the study indicate that financial targets (? = 1.585; p < 0.001), change in auditor (? = 0.236; p < 0.001), and frequency of the CEO’s photo (? = 0.014; p = 0.003) have a positive and significant effect on financial statement fraud, whereas the nature of the industry has a negative and significant effect (? = ?0.354; p < 0.001). Meanwhile, change in director (? = ?0.108; p = 0.419) and audit fee (? = ?0.081; p = 0.051) did not show a significant effect. These findings indicate that financial distress, auditor turnover, and CEO exposure are associated with an increased risk of fraud, while taking into account the limitations of the proxies used.
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