Pengaruh Kesulitan Keuangan Terhadap Manajemen Laba dengan Internal Audit sebagai Variabel Pemoderasi

Devi Silviana, Elfina Astrella Sambuaga

Abstract


This study aims to provide empirical evidence regarding the effect of financial distress towards earnings management and the role internal audit as a moderating variable. This study uses all non-financial companies listed in Indonesia Stock Exchange during 2013-2019, totalled 1,442 observations. The results show that Distress1 proxied by z-score can reduce accrual and real earnings management practices, while D_Distress2 proxied by net working capital can increase accrual earnings management but reduce real earnings management practices. In addition, internal audit does not have a moderating role in weakening the effect of financial distress on earnings management but can reduce accrual and real earnings management practices.

Keywords


Accrual earnings management; real earnings management; financial distress; internal audit

References


Abbott, L.J., Daugherty, B., Parker, S., dan Peters, G.F. (2015). Internal Audit Quality and Financial Reporting Quality: The Joint Importance of Independence and Competence. Journal of Accounting Research, 54(2). DOI: 10.1111/1475-679X.12099.

Agrawal, K. dan Chatterjee, C. (2015). Earnings Management and Financial Distress: Evidence from India. Global Business Review, 16(5S), 140S-154S.

Akbar, J. (2020). Pertumbuhan Ekonomi RI Minus 5,32 Persen, Apa Dampaknya?. Kompas.com. Diakses 12 Oktober 2020 dari https://www.kompas.com/tren/read/2020/08/05/151948365/pertumbuhan-ekonomi-ri-minus-532-persen-apa-dampaknya?page=all.

Al-Rassas, A.H. dan Kamardin, H. (2015). Director’s Independence, Internal Audit Function, Ownership Concentration, and Earnings Quality in Malaysia. Asian Social Science, 11(15). DOI: 10.5539/ass.v11n15p244.

Alzoubi, E.S.S. (2019). Audit Committee, Internal Audit Function, and Earnings Management: Evidence from Jordan. Meditari Accountancy Research. DOI: 10.1108/MEDAR-06-2017-0160.

Anzelya, Y. dan Kurniawati. (2020). Pengaruh Efektivitas Komite Audit, Kualitas Internal dan Eksternal Audit terhadap Manajemen Laba Riil. Jurnal Online Insan Akuntan, 5(1).

Arens, A.A., Elder, R.J., dan Beasley, M.S. (2017). Auditing and Assurance Service (Edisi 16). Harlow: Pearson Education Limited.

Auditing and Assurance Standards Board. (2015). Auditing Standard ASA 315 – Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment. Diakses 9 Oktober 2020 dari https://www.auasb.gov.au/Pronouncements/Australian-Auditing-Standards.aspx.

Bisogno, M., dan De Luca, R. (2015). Financial Distress and Earnings Manipulation: Evidence from Italian SMEs. Journal of Accounting and Finance, 4(1), 42-51.

Braam, G., Weitzel, U., Nandy, M., dan Lodh, S. (2015). Accrual-based and Real Earnings Management and Political Connections. International Journal of Accounting, 50( 2), June 2015, pp. 111–141.

Campa, D. (2019). Earnings Managemednt Strategies during Financial Difficulties: A Comparison between Listed and Unlisted French Companies. Research in International Business and Finance, 50, 457-471.

Campa, D. dan Camacho-Miñano, M.M. (2015). The Impact of SME’s Pre-bankruptcy Financial Distress on Earnings Management Tools. International Review of Financial Analysis, 42, 222-234.

Chang, K.H. (2017). Internal Audit Quality and Its Association with Financial Distress: An Australian Context. Doctor of Philosophy Thesis. Australia: Curtin University. Diakses 9 Oktober 2020 dari http://hdl.handle.net/20.500.11937/57147.

D’Onza, G., Allegrini, M., Selim, G.M., dan Melville, R. (2015). A Study on Internal Auditor Perceptions of the Function Ability to Add Value. International Journal of Auditing, 19, 182-194. DOI: 10.1111/ijau.12048.

Fajrian, H. (2020). TPS Food Sajikan Ulang Lapkeu 2017, Rugi Membengkak jadi Rp 5 Triliun. Katadata.co.id. Diakses 9 Oktober 2020 dari https://katadata.co.id/happyfajrian/finansial/5e9a495cb39ca/tps-food-sajikan-ulang-lapkeu-2017-rugi-membengkak-jadi-rp-5-triliun.

Ghaleb, B.A.A, Kamardin, H., dan Al-Qadasi, A.A. (2020). Internal Audit Function and Real Earnings Management Practices in An Emerging Market. Meditari Accountancy Research. DOI: 10.1108/MEDAR-02-2020-0713.

Ghazali, A.W., Shafie, N.A., dan Zuraidah, M.S. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanicsm and Financial Distress. Procedia Economics and Finance, 28, 190-201.

Gichaiya, M.W., Muchina, S., Macharia, S. (2019). Corporate Risk, Firm Size and Financial Distress: Evidence from Non-Financial Firms Listed in Kenya. IOSR Journal of Economics and Finance (IOSR-JEF), 10(4), 75-86.

Hassanpour, S. dan Ardakani, M.N. (2017). The Effect of Pre-bankruptcy Financial Distress on Earnings Management Tools. International Review of Management and Marketing, 27(3), 213-219.

Howe, J.S. dan Houston, R. (2015). Earnings Management, Earnings Surprises, and Distressed Firms. Accounting and Finance Research, 5(1). DOI: 10.5430/afr.v5n1p64.

Idris, M. (2020). Jejak Hitam PT Hanson International, Manipulasi Laporan Keuangan 2016. Kompas.com. Diakses 9 Oktober 2020 dari https://money.kompas.com/read/2020/01/15/160600526/jejak-hitam-pt-hanson-international-manipulasi-laporan-keuangan-2016?page=all.

Jasman dan Amin, M.N. (2017). Internal Audit Role on Information Asymmetry and Real Earnings Management. Jurnal Akuntansi & Auditing Indonesia, 21(2).

Lestari, P. (2017). Pengaruh Motivasi Manajemen dan Kompetensi Internal Auditor Terhadap Praktik Pengelolaan Laba: Studi pada BUMN di Indonesia. Prosiding Seminar Nasional Pengembangan Sumber Daya Perdesaan dan Kearifan Lokal Berkelanjutan VII, Purwokerto: 17-18 November 2017.

Li, Y., Li, X., Xiang, E., dan Djajadikerta, H.G. (2020). Financial Distress, Internal Control, and Earnings Management. Journal of Contemporary Accounting and Economics, 16.

Muljono, D.R., Kim, S.S. (2018). Impacts of Financial Distress on Real and Accrual Earnings Management. Jurnal Akuntansi, 22(2), 222-238.

Nagar, N., dan Sen, K. (2016). Earnings Management Strategies During Financial Distress. The IUP Journal of Accounting Research & Audit Practices, 17(3).

Onumah, J.M., Amidu, M., dan Donkor, A. (2016). The Effect of Internal Audit Quality on Earnings Management of Listed Firms in Ghana. Contemporary Issues in Management Development in Africa, 1(1), pp 15

Panda, B., & Leepsa, N.M. (2017). Agency theory: Review of Theory and Evidence on Problems and Perspectives. India Journal of Corporation Governance, 10(1), 74-95. DOI:10.1177/0974686217701467.

Peraturan Otoritas Jasa Keuangan Nomor. (2015). 56/POJK.04/2015 Tentang Pembentukan dan Pedoman Penyusunan Piagam Audit Internal. Diakses 24 Oktober 2020 dari https://peraturan.bpk.go.id/Home/Details/128760/peraturan-ojk-no-56-pojk042015-tahun-2015.

Qin, Z. dan Ren, X. (2017). Distress Risk and Earnings Management. Diakses 24 Oktober 2020 dari http://www.fmaconferences.org/Boston/Distress_Earnings_Management_Qin_Ren_SP17.pdf.

Sepasi, S., Deilami, Z.D., dan Tavakoli, S.M. (2017). Internal Audit, Board of Directors and Financial Reporting Quality. International Journal of Finance and Managerial Accounting, 2(8).

Setiyono, W.P. dan Arista, Y. (2017). Risk Management and Financial Distress in Emerging Market. Universitas Muhammdiyah Yogyakarta: The 2017 International Conference on Management Science (ICoMS 2017).

The Institute of Internal Auditors. (2016). International Standards for The Professional Practice of Internal Auditing. Diakses 9 Oktober 2020 dari https://na.theiia.org/standards-guidance/mandatory-guidance/Pages/Standards.aspx.

The Institute of Internal Auditors. (2018). Internal Auditing’s Role in Corporate Governance. Diakses 24 Oktober 2020 dari https://na.theiia.org/Pages/IIAHome.aspx.

Tugba, K., Temur, K., dan Yarbasi, E. (2019). Profit Management in The Case of Financial Distress and Global Volatile Market Behaviour: Evidence from Borsa Istanbul Stock Exchange. Theoretical and Applied Economics, 26(3), 179-192.

Wagner, D.N. (2019). The Opportunistic Principal. Kyklos, 72(4), 637-657.

Wareza, M. (2019). Tiga Pilar dan Drama Penggelembungan Dana. CNBC Indonesia. Diakses 9 Oktober 2020 dari https://www.cnbcindonesia.com/market/20190329075353-17-63576/tiga-pilar-dan-drama-penggelembungan-dana.

Wells, J.T. (2018). International Fraud Handbook. New Jersey: John Wiley & Sons, Inc.




DOI: https://doi.org/10.34149/jmbr.v19i1.311

JMBR Editorial Office: PPM School of Management, Jl. Menteng Raya 9-19 Jakarta 10340 Phone: 021-2300313 ext 2354

View My Stats

License

JMBR is using CC BY License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.