<![CDATA[This study aims to analyze the indications of financial statement manipulation among companies that filed their financial statements late with the Indonesia Stock Exchange during 2021-2024, classify company-year observations, and identify the Beneish ratios that most frequently exceeded their respective indicative thresholds. This study used a descriptive quantitative approach and secondary data. Of the 491 company-year observations in the population, 213 were selected using purposive sampling. The results showed that 98 observations (46.01%) were classified as potential manipulators and 115 observations (53.99%) were classified as non-manipulators. The highest proportion of potential manipulation occurred in 2023 (54.55 %). The Selling, General, and Administrative Expenses Index (SGAI), Gross Margin Index (GMI), and Days’ Sales in Receivables Index (DSRI) were the ratios that most frequently exceeded their respective indicative thresholds. Late filing alone does not establish manipulation, but it strengthens the risk signal when accompanied by an M-score above the threshold. This study is limited to late-reporting Indonesia Stock Exchange (IDX) listed companies during 2021-2024 and uses the Beneish M-Score as an initial screening tool rather than definitive evidence of financial statement manipulation. The novelty of this study lies in the two-stage risk-screening framework that combines an observable reporting-timeliness signal, namely late filing, with an accounting-anomaly measure, namely the Beneish M-Score. These two issues have generally been examined separately in the literature. Their integration provides an empirically grounded assessment of financial reporting risk and supports the prioritization of follow-up reviews by investors, auditors and regulators.]]>
