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Aditya Halim Perdana Kusuma Putra
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Golden Ratio of Auditing Research
Published by Manunggal Halim Jaya
ISSN : -     EISSN : 27766373     DOI : https://doi.org/10.52970/grar
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Golden Ratio of Auditing Research (GRAR) aims to advance knowledge in auditing by publishing critiques, thought leadership papers, and literature reviews on specific aspects of auditing. The journal seeks to publish articles that have international appeal either due to the topic transcending national frontiers or due to the clear potential for readers to apply the results or ideas in their local environments. While articles must be methodologically and theoretically sound, any research orientation is acceptable. This means that papers may have an analytical and statistical, behavioral, economic and financial (including agency), sociological, critical, or historical basis. The editors consider articles for publication that fit into one or more of the following subject categories: • Financial statement audits • Public sector/governmental auditing • Internal auditing • Audit education and methods of teaching auditing (including case studies) • Audit aspects of corporate governance, including audit committees • Audit quality • Audit fees and related issues • Environmental, social, and sustainability audits • Audit related ethical issues • Audit regulation • Independence issues • Legal liability and other legal issues • Auditing history • New and emerging audit and assurance issues With its outstanding editorial board, Golden Ratio of Auditing Research (GRAR) global perspectives on auditing make it accessible and relevant to practitioners and researchers across the world, while its coverage of the entire spectrum of auditing issues addresses the audit challenges of today and tomorrow.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 133 Documents
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ESG Performance and Its Role in Mitigating Stock Price Crash Risk: Evidence from Indonesian Listed Companies Agustin, Isnaini Nuzula; Caesaria, Julia Ananda; Haryanto, Hery
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1820

Abstract

This study examines the extent to which ESG performance influences stock price crash risk (SPCR) among companies listed on the Indonesia Stock Exchange (IDX). Using ESG Score data from the Refinitiv database, this study analyzes 232 firm-year observations from 2018 to 2023. SPCR is measured using Negative Skewness (NSKEWNESS), an indicator capturing the asymmetry of return distributions that reflects the buildup of hidden bad news and Down-to-Up Volatility (DUVOL), which captures downside volatility relative to upside movements. Regression results show that the aggregate ESG Score significantly reduces SPCR when measured with NSKEWNESS, indicating that firms with stronger ESG engagement are less likely to experience extreme negative price declines. When decomposed, the Environmental and Social components significantly mitigate SPCR, while Governance exhibits a negative but insignificant effect. However, none of the ESG components significantly influence DUVOL, suggesting that ESG practices may be more effective in addressing long-term crash risk rather than short-term price volatility. These findings highlight the role of ESG in promoting market resilience and underscore the importance of transparent and comprehensive sustainability reporting for corporate managers, investors, and regulators.
Effectiveness of Village Fund Management on Community Welfare in Muara Muntai Ulu Kuryadi, K.; Daulay, Pardamean; Rulandari, Novianita
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1422

Abstract

This study aims to analyze the effectiveness of Village Fund management in improving community welfare in Muara Muntai Ulu Village, Muara Muntai District, Kutai Kartanegara Regency. Although Village Funds have been directed to finance various priority sectors such as basic infrastructure development, education, health, and community economic empowerment, their implementation still faces a number of challenges. This study used a qualitative research method with a descriptive-analytical approach. The results show that, although in general, Village Fund management in Muara Muntai Ulu Village has shown positive achievements in increasing access to basic services and economic empowerment, significant obstacles remain that hinder the policy's effectiveness. These obstacles include the limited capacity of village officials in planning and reporting, suboptimal community participation, inaccurate beneficiary data, and weak coordination between village institutions. In addition, the suboptimal utilization of Village Funds for productive economic innovation and a weak monitoring system are also challenges. Therefore, institutional capacity building, data system improvements, and mainstreaming of public participation are needed so that Village Funds truly contribute to community welfare comprehensively and sustainably.
Relationship Between Corporate Social Responsibility (CSR) and Firm Value with Profitability as a Mediating Factor in Indonesian Mining Companies (2021–2023) Prasasti, Yurike; Zulvia, Yolandafitri
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1641

Abstract

Mining companies are key drivers of Indonesia’s economic growth. Their operations rely on the exploitation of non-renewable resources, which result in greater environmental and social impacts compared to other sectors. To maintain their reputation and sustain firm value, these companies must balance profit-oriented activities with Corporate Social Responsibility (CSR) initiatives as a form of environmental accountability. This study examines the direct effects of CSR disclosure and profitability on firm value, as well as the indirect effect of CSR disclosure on firm value through profitability as a mediating variable. The research focuses on mining companies listed on the Indonesia Stock Exchange (IDX) during 2021–2023. Using purposive sampling, 36 companies met the selection criteria. Data were analyzed using the Partial Least Squares (PLS) approach within a Structural Equation Modeling (SEM) framework, employing SmartPLS 4 software. The results reveal that CSR disclosure has a significant effect on firm value but no significant effect on profitability. In contrast, profitability has a significant positive effect on firm value. These findings suggest that CSR disclosure directly influences firm value rather than indirectly through profitability as a mediating variable.
The Influence of Competence and Utilization of Information Technology on the Quality of Financial Reports with Education as a Moderator: Case Study at the Finance Office of Kodam XIV/Hasanuddin as UAPPA-W Alimin, Muh; Tangngisalu, Jannati; Lalo, Annas
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1703

Abstract

The purpose of this study is to analyze the influence of competency and utilization of information technology on the quality of financial reports, with education as a moderator (a case study at the Finance Office of the XIV/Hasanuddin Regional Military Command (UAPPA-W). The population of this study is the finance department, which has duties and responsibilities in financial management that directly and indirectly influence the quality of financial reports at the XIV/Hasanuddin Regional Military Command (UAPPA-W). Data collection was carried out by distributing 150 questionnaires to the Finance Unit of the XIV/Hasanuddin Regional Military Command (UAPPA-W). However, the minimum sample size required is 15 to 20 times the number of variables used (4 variables), resulting in a total sample size of 80. The sampling technique used an accidental method. Researchers at the Finance Office of the XIV/Hasanuddin Regional Military Command (KODAM XIV/HASANUDDIN) voluntarily completed a research questionnaire over a one-month period. Data analysis was performed using PLS SEM with the assistance of the SmartPLS 4 program. The results of this study indicate that the variables of competence and utilization of information technology have a significant positive effect on the quality of financial reports. The variable of Competence on Financial Report Quality, with Education as a Moderator, has a significant positive effect on the quality of financial reports. However, the variable of utilization of information technology has a significant negative effect on the quality of financial reports at the Finance Office of the XIV/Hasanuddin Regional Military Command (UAPPA-W).
The Role of ESG in Moderating Effects on Profitability in the Pharmaceutical Industry Putra, Try Kurnia; Hijriah, Amanah; Espa, Vitriyan
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1760

Abstract

This study aims to examine the effect of exchange rate fluctuations, capital structure, and growth opportunities on profitability, with Environmental, Social, and Governance (ESG) factors as a moderating variable, in officially listed pharmaceutical companies on the Indonesia Stock Exchange (IDX).  The observation period covers 2019 to 2023. The analytical method used is Multiple Linear Regression Analysis, with SPSS version 30 as the data processing tool.  This study finds that within Indonesia’s pharmaceutical industry, capital structure has a significantly negative effect on profitability, while growth opportunities exert a significantly positive influence. Meanwhile, exchange rate fluctuations show no significant effect. Crucially, good ESG management is proven to moderate and reduce the profitability losses arising from high debt levels, but it does not affect other variable relationships. The practical implication is that pharmaceutical companies should minimize debt dependence and optimize ESG investments as a fundamental risk mitigation strategy to safeguard and enhance long-term profitability.
Financial Literacy as A Moderating Variable in Influencing Individual Income, Cashless Use, and Love of Money on Financial Behavior of STIEM Bongaya Students Asapa, Andi Rachmat Fiqra; Alam, Syamsul; Ishak, I.
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1873

Abstract

This study aims to explore the impact of individual income, cashless payment system utilization, and love of money on college students' financial behavior, with financial literacy as a variable strengthening this relationship. The respondents in this study were students from STIEM Bongaya. The analysis method used was Partial Least Squares (PLS) with a measurement model and structural model approach. The findings from the test indicate that individual income and financial literacy have a significant positive impact on college students' financial behavior. Conversely, cashless use and love of money do not show a significant influence on financial behavior. Furthermore, financial literacy does not function as a moderating variable in the relationship between individual income, cashless use, and love of money on financial behavior. The R-square value of 0.662 indicates that the independent and moderating variables can explain 66.2% of financial behavior, while the Q-square value of 0.541 indicates that this model has good predictive relevance. The implications of this study indicate the need to improve financial literacy among university students through well-designed educational programs to foster prudent and responsible financial attitudes. Future research is recommended to incorporate other variables, such as psychological and social factors, or the use of financial technology (fintech) to predict financial behavior.
Opportunity Cost from The Perspective of Lontarak Kotika: A Review of Bugis Makassar Local Wisdom Syam, Aswad; Kadir, Muh. Akob; Kanji, Lusiana
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1874

Abstract

This research aims to examine the concept of opportunity cost from the perspective of Bugis-Makassar local wisdom through the manuscript Lontarak Kotika. As a traditional text containing cosmological knowledge of auspicious and inauspicious days, Lontarak Kotika has long guided the Bugis-Makassar people in making crucial decisions, such as farming, sailing, trading, and performing customary rituals. Using a qualitative approach with an interpretive paradigm and ethnomethodology, this study explores the meanings and practices of opportunity cost manifested in local traditions. The research informants consist of community elders, farmers, fishermen, traders, and cultural experts in Bone and Takalar. Data were collected through in-depth interviews, participant observation, and document studies of Lontarak Kotika. The findings reveal that the Bugis-Makassar community interprets opportunity cost not only within the framework of formal economics but also within cosmological and spiritual horizons. For instance, postponing rice planting on days deemed inauspicious is considered a short-term sacrifice to avoid greater losses, both material and social. In this sense, opportunity cost encompasses not only forgone harvests and time but also cultural legitimacy. This study contributes to academic discourse by enriching interdisciplinary literature, particularly the intersection between economics and cultural anthropology. Practically, it offers a model of understanding opportunity cost grounded in local wisdom as a reference in economic decision-making. Culturally, it reaffirms the relevance of Lontarak Kotika as a traditional compass that remains adaptive in navigating modernity.
The Influence of Love of Money, Machiavellian, and Fraud on Ethical Behavior: A Case Study at The Regional Inspectorate of South Sulawesi Province, Indonesia Makgret, Jimmy; Sambo, Eva Marin; Daud, Dahniyar
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1875

Abstract

This study aims to analyze the influence of Love of Money, Machiavellian traits, and Fraud on the ethical behavior of auditors at the Regional Inspectorate of South Sulawesi Province. Auditors were chosen as the research subjects because they play a strategic role in maintaining the integrity of financial reports and public accountability. This research employs a quantitative approach using questionnaires distributed to auditors, with measurement items developed from each variable’s indicators. The data collected were analyzed using the Statistical Package for the Social Sciences (SPSS) version 27, applying multiple linear regression to test both partial and simultaneous effects among the variables. The results indicate that Love of Money has a positive but not significant effect on auditors’ ethical behavior. Meanwhile, Machiavellian traits have a negative yet insignificant effect, and Fraud also shows a negative but insignificant effect on ethical behavior. Simultaneously, the three independent variables collectively demonstrate a negative direction of influence on ethical behavior, although not statistically significant. These findings suggest that other factors, such as organizational culture, internal control systems, and professional commitment, may play a more dominant role in shaping auditors’ ethical behavior compared to the psychological factors examined. This study is expected to provide theoretical contributions to the development of behavioral accounting literature and practical contributions to strengthening ethical standards for auditors in the public sector.
The Effect of Environmental Accounting Disclosure and Good Corporate Governance on Environmental Performance with Financial Performance as a Moderator Ohoitimur, Josep Gilbert; Sambo, Eva Marin; Lalo, Annas
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1876

Abstract

The Effect of Environmental Accounting Disclosure and Good Corporate Governance Mechanisms on Environmental Performance with Financial Performance as a Moderating Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2021–2023 Period. This study aims to determine and analyze the effect of environmental accounting disclosure and good corporate governance mechanisms on environmental performance and examine the role of financial performance in moderating the relationship. The study was conducted on food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2021–2023 period. The research method is quantitative using secondary data with a research population of food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange during 2021–2023 taken through the Indonesia Stock Exchange website, namely www.idx.co.id, the sampling technique used purposive sampling, the number of samples meeting the research criteria was 29 companies that published financial reports and sustainability reports consecutively from 2021–2023 so that 75 data were obtained. The data analysis technique used eviews 12. The results of this study indicate that environmental accounting disclosure has a significant effect on environmental performance, good corporate governance mechanisms have a significant effect on environmental performance, environmental accounting disclosure has a significant effect on environmental performance through financial performance, and good corporate governance mechanisms have a significant effect on environmental performance through financial performance.
Reintegration of State Financial Management Through the FARAH Model: An Accounting Study of Inmates at Lapas Parepare Ramadhani, Farah Nabilah; Yusuf, Marwah; Kanji, Lusiana
Golden Ratio of Auditing Research Vol. 6 No. 1 (2026): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i1.1877

Abstract

This research aims to analyze the role of state financial management in supporting the development and social reintegration of prisoners at Class IIA Parepare Correctional Facility, as well as to examine the effectiveness of the FARAH model (Financial Management, Accountability, Rehabilitation, Awareness, and Holistic Approach). This model is positioned as an integrative framework that links the technical aspects of budget management with social needs in Lapas. The research uses a qualitative method with a phenomenological approach based on Alfred Schutz's sociology. Data is obtained through in-depth interviews, observations, and document analysis, and its validity is tested through triangulation and member checking. Research results show that budget management in Parepare Correctional Facility has been carried out according to procedures, but still faces challenges such as overcapacity, limited resources, and partial rehabilitation programs. The implementation of the FARAH model (Financial Management, Accountability, Rehabilitation, Awareness, and Holistic Approach) offers an integrative solution: Financial management serves as the material basis that ensures basic needs and rehabilitation space are met, while Accountability builds transparency and trust as a form of state legitimacy. Rehabilitation opens up space for the transformation of values and behaviors, Awareness fosters moral and existential consciousness, and the Holistic approach unites all elements in a cross-sectoral collaboration network that strengthens social integration.

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