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All Journal Owner : Riset dan Jurnal Akuntansi
Ary Haritsaning Atmadya
Universitas Airlangga
Economics, Econometrics & Finance

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Governance, Strategy, and Sustainability: The Effect of Sustainability Committees on ESG scores in Indonesia Ary Haritsaning Atmadya
Owner : Riset dan Jurnal Akuntansi Vol. 9 No. 4 (2025): Artikel Riset Oktober 2025
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v9i4.2828

Abstract

This study investigates whether a Sustainability Committee (SC) improves firms' ESG performance and whether this effect depends on business strategy. Using a split?sample design for Analyzer and Defender firms, we analyze 359 firm-year observations from companies listed on the Indonesia Stock Exchange (IDX) during 2017–2022. ESG performance (ESG Score) is constructed from the proportion of Global Reporting Initiative (GRI) indicators disclosed. Business strategy is classified following the Miles and Snow (1976), operationalized by Bentley et al.'s (2013) financial metrics. The empirical approach employs rergession analysis with year fixed effects and a Propensity Score Matching (PSM) robustness check to mitigate selection bias. The sample is distributed between Defender (50.7%) and Analyzer (49.3%) strategies. Defender firms focus on efficiency, cost control, and operational stability within well-defined product markets, while Analyzer firms balance efficiency with adaptability by maintaining stable core operations but simultaneously exploring innovation and market opportunities. Regression results show that SCs are positively and significantly associated with ESG Scores in Defender firms and in the full sample, but not in Analyzer firms. PSM results corroborate these findings. Overall, the evidence indicates that the effectiveness of sustainability governance is contingent on strategic orientation: SCs appear most impactful in efficiency- and compliance-oriented settings typical of Defender firms. At the same time, their influence is weaker in more adaptive Analyzer settings. The study extends stakeholder-oriented governance research in an emerging-market context and offers practical and policy insights for strengthening sustainability oversight in Indonesia.
Implikasi Adopsi IFRS Sustainability Standards terhadap Peningkatan Non-Audit Fees dan Independensi Auditor: Studi Kualitatif pada KAP di Indonesia Ary Haritsaning Atmadya; Dirgahayu Almi Mahati; Anak Agung Gde Satia Utama
Owner : Riset dan Jurnal Akuntansi Vol. 10 No. 2 (2026): Artikel Research April 2026
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/owner.v10i2.3050

Abstract

The issuance of IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures by the International Sustainability Standards Board (ISSB) has fundamentally transformed the landscape of sustainability reporting, shifting it from a voluntary regime toward a framework integrated with general-purpose financial reporting. This transformation has driven a surge in demand for sustainability-related services, including IFRS S1/S2 implementation consulting and sustainability assurance, which are largely classified as non-audit services and have the potential to increase sustainability-related non-audit fees within the revenue structure of Public Accounting Firms (PAFs). This study adopts an interpretive qualitative approach based on literature review and document analysis (including standards, codes of ethics, research reports, and scholarly articles) to identify and categorize auditor independence threats—namely self-interest, self-review, advocacy, familiarity, and management participation—arising from the expansion of sustainability services following IFRS S1/S2. The findings indicate that the joint provision of IFRS S1/S2 consulting and assurance services by the same audit firm may strengthen economic dependence, create self-review and advocacy threats, and blur the boundary between the roles of consultant and independent auditor. On the other hand, the profession and regulators have begun to respond by strengthening safeguards, such as restricting the types of services provided, implementing fee caps, separating advisory and assurance teams, and reinforcing ethical frameworks for sustainability assurance.
Co-Authors Dirgahayu Almi Mahati Satia Utama, Anak Agung Gde