DETECTING FINANCIAL STATEMENT FRAUD BY BUMN LISTED COMPANIES: THE RELIABILITY OF THE BENEISH M-SCORE MODEL

Ahmad Muzzayyin Misbahul Fajri, Putri Nurmala, Akhmad Sigit Adiwibowo, Amar Abdurrauf

Abstract


This study aims to analyze Fraud Financial Statements Using the Beneish M-Score Model (Empirical Study on BUMN Companies Listed on the Indonesia Stock Exchange 2015-2019). Based on the type of research used, this research is included in descriptive quantitative research. The population in this study are state-owned companies listed on the Indonesia Stock Exchange in 2015-2019. The sampling technique used purposive sampling method so that this study used 9 companies with a total of 9 x 5 = 45 data processed. Data processing in this study using software views 10 using a panel data model. The results of this study indicate that the Days Sales in Receivable Index (DSRI) has a positive and significant effect on Financial Statement Fraud, Gross Margin Index (GMI) has a positive and significant effect on Financial Statement Fraud, Asset Quality Index (AQI) has a positive and significant effect on Financial Statement Fraud, Sales Growth Index ( SGI) has a positive and significant effect on Financial Statement Fraud, Depreciation Index (DEPI) has a positive and significant effect on Financial Statement Fraud, Sales and General Administration Expenses Index (SGAI) has a positive and significant effect on Financial Statement Fraud, Leverage Index (LVGI) has a positive and significant effect on Financial Statement Fraud, and Total Accruals to Total Assets (TATA) has a positive and significant effect on Financial Statement Fraud.

 

Keyword: Beneish M-Score, Financial Statement Fraud, State Owned Company


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