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All Journal Jurnal AKSI (Akuntansi dan Sistem Informasi) JURNAL PENDIDIKAN TAMBUSAI FINANSIA : Jurnal Akuntansi dan Perbankan Syariah Ilomata International Journal of Tax and Accounting Jurnal Revenue : Jurnal Ilmiah Akuntansi Jurnal Pengabdian Nasional Jurnal Riset Akuntansi Soedirman Indo-Fintech Intellectuals: Journal of Economics and Business Jurnal Enterpreneur dan Bisnis (JEBI) Jurnal Akuntansi, Keuangan, Perpajakan dan Tata Kelola Perusahaan INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Neraca Manajemen, Akuntansi, dan Ekonomi Jurnal abimana (Jurnal Pengabdian Kepada Masyarakat Nasional) Ulil Albab
Kurniawan, Umarudin
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Journal : Jurnal AKSI (Akuntansi dan Sistem Informasi)

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Beneish M-Score, Audit Opinions, and Financial Manipulation: Evidence from Indonesia’s Infrastructure Sector Kurniawan, Umarudin; Ridwansyah, Eksa; Aulia, Siska
Jurnal AKSI (Akuntansi dan Sistem Informasi) Vol. 10 No. 2 (2025)
Publisher : Politeknik Negeri Madiun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32486/aksi.v10i2.934

Abstract

The increasing incidence of financial statement manipulation in Indonesia has raised serious concerns regarding the credibility of audit opinions issued by independent auditors. This study investigates the extent to which audit opinions reflect indications of financial manipulation, utilizing the Beneish M-Score model as a diagnostic tool. The research focuses on infrastructure companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. Employing a descriptive quantitative approach and binary logistic regression analysis, companies are classified as either manipulators or non-manipulators based on their M-Score, and subsequently compared with the audit opinions they received. Findings reveal a sharp rise in the number of companies flagged as manipulators, reaching a peak of 85% in 2022 before declining to 65% in 2023. Alarmingly, most of these identified manipulators still received Unqualified Opinions, highlighting a significant audit expectation gap. This discrepancy suggests potential weaknesses in auditors’ fraud risk assessment and underscores the urgent need for enhanced professional scepticism and analytical rigor in the audit process.
Co-Authors A Sidik, M. Muhayin Agus Prasetyo Ahmad, Musafa Alfani, Ulin Nuha anggraini, Depita Anita Kusuma Dewi Azizah, Lina Christina Sinaga, Klemensia Erna Damayanti Damayanti Damayanti Dewi, Anita Kusuma Dini, Indah Bagus Fajri, M. Rizki Fikri Rizki Utama Fitri Mareta, Fitri Handayani, Refti Puput Henny Rakhmawati Indriyani Iralia, Athifah Milda Irawan Irawan Khoirunnisa, Rizka Manasikana, Arina Muhammad Syahrial Natakusuma, Irwan Nurmala Pentiana, Destia Putri Asri, Azmi Ridwansyah, Eksa Rusmianto Sabila, Rezika Farah Safitri, Enjel Novita Mei Santoso, Izza Maulida Selvia Septiani, Kamelia siska aulia Siska Aulia Sri Astuti Suffah, Faila Utama, Fikri Rizki Wijaya, Lihan Rini Puspo Yuniarti, Evi