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All Journal International Journal of Economics, Management and Accounting
Dinda Putri Medina
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Analysis the Effect of Fraud Pentagon and Whistleblowing System on Financial Statement Fraud in Indonesian State-Owned Enterprises (2021–2024) Dinda Putri Medina; Agus Zahron Idris
International Journal of Economics, Management and Accounting Vol. 3 No. 3 (2026): International Journal of Economics, Management and Accounting
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijema.v3i3.1278

Abstract

Financial statement fraud remains one of the major challenges in maintaining the credibility and transparency of corporate financial reporting, particularly in Indonesian State-Owned Enterprises (SOEs). This study aims to examine the effect of the Fraud Pentagon elements: pressure, opportunity, rationalization, competence, and arrogance, as well as the whistleblowing system on financial statement fraud in Indonesian SOEs during the 2021–2024 period. This research employed a quantitative approach using secondary data obtained from the annual reports and financial statements of Indonesian SOEs. Financial statement fraud was measured using the Beneish M-Score, while pressure, opportunity, rationalization, competence, arrogance, and the whistleblowing system were measured using their respective proxies. The data were analyzed using logistic regression with EViews 10. The findings indicate that pressure, proxied by financial stability, and opportunity, proxied by ineffective monitoring, have a significant effect on financial statement fraud. Meanwhile, rationalization, competence, arrogance, and the whistleblowing system do not significantly affect financial statement fraud. These findings suggest that financial pressure experienced by companies and weaknesses in monitoring mechanisms are important factors associated with the occurrence of financial statement fraud in Indonesian SOEs. This study contributes to the literature on fraud detection by providing empirical evidence regarding the application of the Fraud Pentagon theory and the whistleblowing system in the context of Indonesian State-Owned Enterprises.
Co-Authors Agus Zahron Idris