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Tax Aggressiveness and Audit Report Timeliness: The Role of Ownership Structure and Audit Committee Vionna Lievia; Antonius Herusetya
Indonesian Journal of Sustainability Accounting and Management Vol. 6 No. 1 (2022): June 2022
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28992/ijsam.v6i1.469

Companies that engage in tax aggressiveness (TAG) are considered socially irresponsible and problematic from the perspective of tax authorities. This study examines the impact of TAG on audit report timeliness and the role of corporate governance using ownership structure and audit committee on the relationship between TAG and audit report timeliness. We use the tax planning prediction model to uncover TAG. The data for our sample is obtained from the manufacturing companies listed on the Indonesia Stock Exchange and was obtained using the purposive sampling method. Using multiple linear regression analysis, we discover a positive relationship between TAG and audit report timeliness. However, we also find that corporate governance mechanisms affect this positive relationship through ownership structure and audit committee competence. Our findings suggest that the delay of independent auditors due to audit processes may expose the activities of TAG’s clients, which may have economic consequences for tax authorities, companies, and other stakeholders.

LOW AUDIT QUALITY: CLIENT COMPLEXITY AS MODERATING VARIABLE, PRE- AND AT THE PANDEMIC COVID-19 PERIOD Antonius Herusetya; Yiska Cornelia Halim
Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 2 (2022): Proceeding of 2nd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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We suspect that in the era of the COVID-19 pandemic, where physical distance is required by rule, audit quality will decline, especially for small audit firms. This study examines the low audit quality of the modified audit opinion. Low audit quality is measured by low audit tenure and non-Big Four accounting firms. This study also examines this relationship in the era of the COVID-19 pandemic. The sample is all non-financial companies listed on the Indonesia Stock Exchange for 2018-2020. Using logistic regression analysis in our models, our study show contrary empirical evidence to our hypothesis that low audit tenure and non-Big Four audit firms are positively related to modified audit opinion. However, this study found no evidence that client complexity affects the relationship between low audit tenure and non-big four with modified audit opinions, both in the entire observation period and during the COVID-19 era. Our results give new implications to the stakeholders that audit quality of low tenure and non-Big Four firms do not automatically decline in the era of the COVID-19 pandemic.

Peran Pemeriksaan Pengendalian Intern Atas Lingkungan Pengendalian Terhadap Peningkatan Corporate Governance Antonius Herusetya
Jurnal Akuntansi vol. 3 no. 1 Januari-April 2003
Publisher : Universitas Kristen Krida Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36452/akunukd.v3i1.606

Akuntansi Pajak Penghasilan antara Teori dan Praktek Antonius Herusetya
Jurnal Akuntansi vol. 7 no. 1 Januari 2007
Publisher : Universitas Kristen Krida Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36452/akunukd.v7i1.669

Market Reaction Toward the Detailed Content of Disclosure in the Modified Audit Opinion: Case of Indonesia Wijaya, Hana; Herusetya, Antonius
Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 3 (2023): Proceeding of 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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This study examines the market reaction toward information content in the auditors' opinions measured by the number of paragraphs and detailed disclosures in additional and modified paragraphs in the modified audit opinion. The study sample was taken from all public companies on the Indonesian Stock Exchange, except for the financial industries in 2018-2020. Hypotheses tests were carried out using linear multiple regression models. With a total sample of 1017 firm-year observations for 339 listed companies, our study found evidence that the market reacted negatively to disclosures in audit opinions in the form of the number of paragraphs in the modified audit opinions. However, this study did not find evidence that the market reacts to the number of detailed contents in additional paragraphs and modification paragraphs. Our further tests found strong evidence of incremental information captured by the capital market players in the form of positive reactions to the number of paragraphs and detailed topics in the paragraphs of modified audit opinions during the Covid-19 pandemic in 2020. Results of the study provide practical implications that capital market players use detailed information contained in paragraphs of modified audit opinions to make investment decisions, reflected in the earnings response coefficient.

Does Client Complexity Before and During the Covid-19 Pandemic Affect Audit Partner Independence? Evidence from the Modified Audit Opinions Amabel, Vania; Herusetya, Antonius
Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 3 (2023): Proceeding of 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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This study examines the impact of the client's level of complexity on the modified audit opinion (MAO). This study also examines the moderating effect of the COVID-19 pandemic on the relationship between client complexity level and modified audit opinion. The level of client complexity is measured using a complexity score with the dimensions of company size, level of bankruptcy risk, level of company growth, and financial performance. The study sample was taken from all listed companies on the Indonesia Stock Exchange except for the financial industry, with an observation period of 2018-2020. Using logistic regression analysis and 1020 firm-year observations, our study found that client complexity positively affects the audit partner quality measured by the tendency to issue modified audit opinions. Further study found no evidence that the COVID-19 pandemic occurred in 2020 has a moderating effect on the relationship between client complexity and modified audit opinions. This study's results imply that the sample profile, which the Big Four audit firms dominate, reflects the relatively high quality of audit partners in Indonesia in issuing modified audit opinions despite client complexities.

TEKANAN KEUANGAN, RISIKO KEBANGKUTAN, DAN MANAJEMEN LABA REAL: BUKTI EMPIRIS PADA NEGARA ASEAN- SEBELUM DAN PADA SAAT KRISIS KEUANGAN 2020 Tantomi, Gabriella; Herusetya, Antonius
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Studi ini menguji pengaruh tekanan keuangan/financial distress dan risiko kebangkrutan/bankruptcy risk terhadap manajemen laba real sebelum dan pada saat krisis keuangan 2020 yang disebabkan oleh pandemi COVID-19. Dengan menggunakan metode purposive sampling kami memperoleh 1326 perusahaan terbuka atau 5304 observasi final dalam firm-years dari lima negara ASEAN, yaitu Singapura, Indonesia, Malaysia, Filipina, dan Thailand untuk periode pengamatan 2017 – 2020. Manajemen laba real pada level agregat diukur menggunakan jumlah dari abnormal CFO (cash flows from operating activities), abnormal production cost, dan abnormal discretionary expenditure. Financial distress diukur menggunakan dua pengukuran, yaitu loss dan/atau CFO negatif, dan retained earnings negatif dua tahun berturut – turut. Sedangkan bankruptcy risk diukur dengan model Zmijewski. Hasil studi menemukan hubungan positif antara financial distress dan bankruptcy risk dengan manajemen laba real pada level agregat untuk seluruh periode pengamatan. Pada periode krisis keuangan tahun 2020, tidak ditemukan bukti bahwa financial distress dan bankruptcy risk semakin berpengaruh terhadap manajemen laba real pada tingkat agregat dibandingkan periode non-krisis keuangan 2020. Pengujian tambahan menemukan bukti bahwa pada periode krisis 2020, perusahaan yang mengalami financial distress dan bankruptcy risk memiliki kecenderungan yang lebih rendah dalam melakukan manajemen laba real pada level abnormal CFO, tetapi cenderung meningkatkan discretionary expense. Studi kami memberikan implikasi bahwa pada periode krisis keuangan 2020, manajer melakukan kombinasi aktivitas transaksi real pada level individual karena biaya manajemen laba real yang terlalu mahal.

Testing the audit quality of female audit partners: Empirical findings from Thailand Hadisurja, Andrea Chrysanti; Herusetya, Antonius; Purba, Golrida Karyawati
Journal of Accounting and Investment Vol 25, No 3: September 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i3.21413

Research aims: The annual increase in the number of female auditors in partner positions has been particularly pronounced in Southeast Asian countries, with Thailand being a notable example. This study, thus, investigates the quality of female audit partners compared to male audit partners in terms of how clients manage earnings.Design/Methodology/Approach: The researchers hand-collected gender data of audit partners from the audit reports of all listed firms on the Stock Exchange of Thailand and obtained 424 firm-year observations. The researchers applied two models to test the hypotheses, using cross-sectional time-series OLS and logistic regression data analyses. The researchers also performed additional analyses and robustness checks to support the main tests.Research findings: The study revealed no substantial disparity in the female and male auditors’ quality at the partner levels, as measured by accrual earnings management and earnings distribution approaches. The findings indicate that female and male audit partners have similar audit quality in preventing earnings management and earnings benchmark likelihood. The study adds to the existing research in East (Southeast) Asia, showing that female partners in these countries have audit quality that is at least comparable to male partners.Theoretical contribution/Originality: The researchers extend prior studies on the behavior distinction in audit quality of the auditor gender at the partner level, which is under-researched in Southeast Asia.Practitioner/Policy implication: The study has important implications for stakeholders and standard-setters to keep strengthening female leadership in the auditing industry and promoting higher gender parity in the growing industry of the future.

Testing the audit quality of female audit partners: Empirical findings from Thailand Hadisurja, Andrea Chrysanti; Herusetya, Antonius; Purba, Golrida Karyawati
Journal of Accounting and Investment Vol. 25 No. 3: September 2024
Publisher : Universitas Muhammadiyah Yogyakarta, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jai.v25i3.21413

Research aims: The annual increase in the number of female auditors in partner positions has been particularly pronounced in Southeast Asian countries, with Thailand being a notable example. This study, thus, investigates the quality of female audit partners compared to male audit partners in terms of how clients manage earnings.Design/Methodology/Approach: The researchers hand-collected gender data of audit partners from the audit reports of all listed firms on the Stock Exchange of Thailand and obtained 424 firm-year observations. The researchers applied two models to test the hypotheses, using cross-sectional time-series OLS and logistic regression data analyses. The researchers also performed additional analyses and robustness checks to support the main tests.Research findings: The study revealed no substantial disparity in the female and male auditors’ quality at the partner levels, as measured by accrual earnings management and earnings distribution approaches. The findings indicate that female and male audit partners have similar audit quality in preventing earnings management and earnings benchmark likelihood. The study adds to the existing research in East (Southeast) Asia, showing that female partners in these countries have audit quality that is at least comparable to male partners.Theoretical contribution/Originality: The researchers extend prior studies on the behavior distinction in audit quality of the auditor gender at the partner level, which is under-researched in Southeast Asia.Practitioner/Policy implication: The study has important implications for stakeholders and standard-setters to keep strengthening female leadership in the auditing industry and promoting higher gender parity in the growing industry of the future.

Does Managerial Ability Have Information Content for Capital Market Players? An Empirical Study in Indonesia Totong, Allysa; Herusetya, Antonius
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 4 (2024): Proceedings of the 4th International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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This study empirically tests the effect of managerial ability on market reaction. Managerial ability is measured using the Demerjian et al. (2012) model, while market reaction is measured using the earnings response coefficient (ERC). The study observations include samples from all public companies on the IDX listed from 2017 to 2021 with a final number of observations of 1,380 in firm-years, except for the financial sector. By using the non-probability sampling method and purposive sampling technique, and the linear multiple regression estimation model, this study found no evidence that managerial ability can be detected by the market. Our additional testing using a measure of highest level of managerial ability also found no evidence that the market can capture the information content measured by the ERC from the highest level of managerial ability. Further test also found no evidence that during the crisis period due to the COVID-19 pandemic there is no incremental information from the existence of managerial ability captured by the capital market players. The results of this study are robust considering the results of sensitivity and additional tests.

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