<![CDATA[ABSTRAKKecurangan laporan keuangan merupakan permasalahan yang dapat menurunkan kualitas informasi keuangan, sehingga berpotensi menyebabkan kesalahan pengambilan keputusan oleh investor, kreditor, dan pemangku kepentingan lainnya serta menurunkan kepercayaan terhadap perusahaan. Tujuan penelitian ini berupaya untuk memahami pengaruh mekanisme Good Corporate Governance dan kompleksitas perusahaan terhadap fraudulent financial statement pada perusahaan sub sektor farmasi yang tercatat pada Bursa Efek Indonesia periode 2020–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder yang diperoleh melalui laporan tahunan dan laporan keuangan perusahaan. Good Corporate Governance diukur menggunakan disclosure index berdasarkan prinsip transparansi, akuntabilitas, responsibilitas, independensi, dan kewajaran, sedangkan kompleksitas perusahaan diproksikan dengan jumlah anak perusahaan. Fraudulent financial statement diproksikan menggunakan Beneish M-Score. Analisis data dilakukan menggunakan regresi data panel. Temuan penelitian menunjukkan bahwa Good Corporate Governance berpengaruh negatif signifikan terhadap fraudulent financial statement dengan nilai koefisien sebesar -77,49306 serta tingkat probabilitasnya sebesar 0,0060, sehingga menjadi faktor penting dalam upaya pencegahan manipulasi laporan keuangan. Hasil ini memberikan masukan bagi OJK atau BEI untuk memperkuat pengawasan tata kelola pada perusahaan sub sektor farmasi. Sementara itu, kompleksitas perusahaan tidak berpengaruh signifikan terhadap fraudulent financial statement dengan nilai nilai koefisien sebesar 0,080252 serta nilai probabilitasnya sebesar 0,524. Secara simultan, Good Corporate Governance dan kompleksitas perusahaan berpengaruh terhadap fraudulent financial statement.ABSTRACTFinancial statement fraud remains a significant concern because it compromises the reliability of financial information, potentially leading to inappropriate decisions by investors, creditors, and other stakeholders. This study investigates the effect of Good Corporate Governance (GCG) and corporate complexity on fraudulent financial statements in pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. A quantitative approach was employed using secondary data obtained from annual reports and financial statements. GCG was measured using a disclosure index based on the principles of transparency, accountability, responsibility, independence, and fairness, while corporate complexity was proxied by the number of subsidiaries. Fraudulent financial statements were identified using the Beneish M-Score model. Panel data regression was applied to analyze the relationship among variables. The results indicate that Good Corporate Governance has a significant negative effect on fraudulent financial statements, with a coefficient value of -77.49306 and a probability value of 0.0060, highlighting the importance of effective governance mechanisms in reducing the risk of financial reporting manipulation. These findings provide practical implications for regulators, particularly the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX), in strengthening corporate governance oversight within pharmaceutical sub-sector companies. In contrast, corporate complexity does not have a significant effect on fraudulent financial statements, with a coefficient value of 0.080252 and a probability value of 0.524. However, Good Corporate Governance and corporate complexity jointly have a significant effect on fraudulent financial statements.]]>
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