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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 158 Documents
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The Influence of the Halal Lifestyle on Muslim Investor Decisions in Indonesia's Islamic Stock Market Nurina Saffanah; Rezky Ratnasari Taufan; Achdian Anggreny B Anggreny B; Elda Fira; Widya Reskyawati Aminuddin
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.1843

Abstract

This study examines the influence of the halal lifestyle on Muslim investors' decision-making in Indonesia's Islamic stock market. As the country with the largest Muslim population in the world, Indonesia has experienced increasing interest in Sharia-compliant financial products, reflecting the alignment between investment preferences and Islamic values. This research employs a quantitative approach, with data collected through an online questionnaire distributed to 202 Muslim investors who invest in Islamic-based securities. The variables analyzed include religiosity, attitude, morality, and social media engagement as indicators of the halal lifestyle. The results of the multiple linear regression analysis indicate that religiosity, attitude, morality, and social media engagement each have a positive, statistically significant effect on investor decision-making. These findings indicate that investment behavior is influenced not only by rational financial considerations but also by spiritual beliefs, ethical values, and exposure to information through digital platforms. This research contributes to behavioral finance theory by integrating Islamic values and digital influences into the analysis of investment behavior. Furthermore, the study highlights practical implications for policymakers and financial institutions to strengthen Islamic financial literacy and promote awareness of halal investment among Muslim communities.
Exploring the Impact of Auditor Burnout on Job Performance: The Roles of Depersonalisation and Reduced Personal Accomplishment in Jayapura, Papua Putri Ratnasari; Elia Madatu Tandililing; Ulfah Rizky Muslimin
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2047

Abstract

Audit quality plays a critical role in maintaining the credibility of financial statements; however, excessive work pressure may trigger auditor burnout and potentially reduce audit performance quality. This issue is important to examine because burnout affects not only individual auditors but also organisational sustainability and public trust. This study aims to analyse the influence of three burnout dimensions, namely emotional exhaustion, depersonalisation, and reduced personal accomplishment, on job satisfaction, job performance, and turnover intention among auditors. This study adopts a quantitative explanatory design using a cross-sectional survey approach. The research population consists of auditors working in government agencies, state-owned enterprises, and public accounting firms in Jayapura, Papua. A purposive sampling technique was employed, resulting in 100 auditors who met the criterion of having at least one year of audit experience. Data were collected using a structured questionnaire with a four-point Likert scale and analysed using canonical correlation analysis to examine the simultaneous relationship between burnout dimensions and work outcomes. The results indicate that emotional exhaustion does not have a significant relationship with job satisfaction, job performance, or turnover intention. In contrast, depersonalisation shows a significant relationship with job performance and turnover intention, while reduced personal accomplishment is significantly related to job performance but not to job satisfaction or turnover intention. Overall, depersonalisation emerges as the most influential burnout dimension affecting auditors’ work outcomes. The findings highlight the importance of organisational policies aimed at reducing depersonalisation through social support mechanisms, fostering a collaborative work environment, and strengthening recognition systems and competency development programmes to enhance auditors’ sense of personal accomplishment and performance.
Financial Distress: The Impact of the US-China Trade War on German Automotive Companies Nina Titirai Tambung; Fitria Husnatarina; Muhammad Ichsan Diarsyad; Theresia Mentari
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2101

Abstract

One indicator of financial distress is a decline in corporate financial performance, which can threaten the continuity of business operations. This issue is particularly critical for the German automotive industry, especially under external pressures such as the trade war between the US and China, which has caused reduced export demand, disruptions in the supply chain, and increased production costs. These challenges necessitate that companies strengthen corporate governance and utilize their resources efficiently to preserve financial stability. By incorporating firm size as a moderating variable, this study investigates the effect of corporate governance which encompasses the Board of Commissioners, Board of Directors, and Audit Committee on financial distress among German automakers listed on the DAX Automobile Index during 2018-2023. A total of 10 automotive companies were chosen as the research sample through purposive sampling and analyzed using EViews 12. The findings reveal that the Board of Directors has a significant negative effect on financial distress, while the Audit Committee and Board of Commissioners show no significant impact. Firm Size moderates the effect of the Board of Directors on financial distress, but it does not moderate the influence of the Board of Commissioners or the Audit Committee. Overall, the results highlight that the role of the Board of Directors is a key factor in preventing financial distress, particularly for automotive companies operating amid the US-China trade war. The results of this study can also be considered by management and regulators in strengthening corporate governance mechanisms to maintain financial stability.
Regulatory Compliance and Internal Control as Determinants of SME Financial Performance in Dubai: Implications for the Middle East Siti Khodijah; Rachmat Agus Santoso
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2133

Abstract

Small and Medium Enterprises (SMEs) play a crucial role in supporting economic diversification in Dubai and the broader Middle East region. However, despite their strategic importance, SMEs remain vulnerable to financial instability due to weak governance structures, particularly in regulatory compliance and internal control practices. This study aims to examine the effect of regulatory compliance and internal control on SME financial performance in Dubai. This research adopts a quantitative approach using primary data collected through structured questionnaires distributed to financial staff of SMEs. A total of 69 valid responses were obtained, representing SMEs across various sectors. Data were analyzed using multiple linear regression with SPSS. The results indicate that regulatory compliance has a significant positive effect on SME financial performance, while internal control also positively contributes to improving financial outcomes. These findings suggest that stronger governance mechanisms can enhance financial sustainability and operational efficiency. This study contributes to the literature by providing empirical evidence from a Middle Eastern context and offers practical implications for SME managers and policymakers to strengthen governance frameworks.
Strengthening Audit Quality through Ethics and Skepticism: Evidence from Internal Auditors in Timor-Leste Dewi Diah Fakhriyyah; M. Cholid Mawardi; Lidia Tilman Dos Santos
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2197

Abstract

High-quality audits are increasingly needed to support transparency and accountability in government financial governance, including in Timor-Leste, a developing country. This study examines the influence of professional ethics and professional skepticism on auditor quality and investigates the moderating role of professional skepticism. The population consists of all government internal auditors at the Inspeção Geral do Estado (IGE), and a saturated sampling technique was employed, using the entire population as the sample. A quantitative method was adopted, with data evaluated using Partial Least Squares-Structural Equation Modeling (PLS-SEM). The findings are professional ethics can enhance auditor quality, professional skepticism also enhance auditor quality, demonstrating that a critical and questioning perspective improves the trustworthiness of audit outputs. Furthermore, professional skepticism enhance the effect of professional ethics on auditor quality. These findings provide theoretical implications by supporting agency theory, where auditors play a essential role in reducing information asymmetry between principals and agents, and attribution theory, where auditors’ skeptical judgment reflects cognitive processes in evaluating and attributing the credibility of audit evidence. Overall, the integration of professional ethics and professional skepticism is essential to improvi the quality of government internal auditors, thereby supporting more transparent and accountable public financial governance in Timor-Leste.
The Effect of Poverty Rate, Gross Regional Domestic Product, Provincial Minimum Wage, and Unemployment Rate on the Human Development Index in 34 Provinces of Indonesia (2015–2024) Putu Apriliani Prabawati; Akhmad Jufri
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2137

Abstract

This study aims to analyze the influence of poverty level, Gross Regional Domestic Product (GDP), Provincial Minimum Wage (UMP), and unemployment rate on the Human Development Index (HDI) in 34 Indonesian provinces for the period 2015–2024. The study used a quantitative approach with secondary panel data from the Central Statistics Agency. The model used is the Fixed Effect Model (FEM) because it is able to control unobserved heterogeneity between provinces that is constant during the observation period. The estimated results showed that the poverty and unemployment levels had a negative and significant effect on HDI (p < 0.05), while GDP and UMP had a positive and significant effect (p < 0.05). Simultaneously, all independent variables had a significant effect on HDI with a probability value of the F test < 0.05 and a high coefficient of determination (R²), demonstrating the model's ability to explain variations in HDI between provinces. These findings confirm that improving regional economic performance and adequate wage policies contribute to improving the quality of human development, while poverty and unemployment are the main inhibiting factors. Therefore, development policies need to be focused on reducing economic inequality and increasing employment opportunities to encourage equitable distribution of human development in Indonesia.
The Influence of Green Accounting and Environmental Performance on Firm Value from the Perspective of Maqashid Shariah: A Study of Companies Listed in the Jakarta Islamic Index from 2021 to 2024 Linda Nurlita; Rosydalina Putri; Taufiqur Rahman
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2233

Abstract

This study aims to analyze the influence of green accounting and environmental performance on firm value and to examine this relationship from the perspective of maqashid shariah. The study employed a quantitative approach using secondary data obtained through documentation methods from companies’ annual reports and sustainability reports. The population of this study consisted of companies listed in the Jakarta Islamic Index during the 2021–2024 period. The research sample was selected using a purposive sampling method, resulting in 13 companies as the research sample. Data analysis was conducted using panel data regression with the assistance of EViews 12 software. The results indicate that green accounting has a positive and significant effect on firm value. Meanwhile, environmental performance has a negative but insignificant effect on firm value. However, simultaneously, green accounting and environmental performance have a positive and significant effect on firm value. These findings suggest that the implementation of proper environmental management and disclosure can enhance investor confidence and support the improvement of firm value. From the perspective of maqashid shariah, the implementation of green accounting and environmental performance reflects corporate responsibility in maintaining public welfare and environmental sustainability.
The Influence of Audit Fees and Auditor Assessment on Financial Decision Making in Banking Companies at the Indonesian Stock Exchange (2020-2024) Nurul Habibah; Any Eliza; Rosydalina Putri
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2260

Abstract

This study aims to analyze the influence of audit fees and auditor assessments on financial decision-making in banking companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The background of the study is based on the importance of reliable and timely financial information as a basis for decision-making by management and investors, especially in the banking sector which has strict regulations and high transaction complexity. The study uses an associative quantitative approach with secondary data from annual reports and independent auditor reports. The sample was determined using a purposive sampling method, with logistic regression analysis techniques. The results of the study indicate that audit fees do not significantly influence financial decision-making (H1 is rejected), while auditor assessment also does not significantly influence financial decision-making (H2 is rejected). Simultaneously, audit fees and auditor assessment do not show a significant influence on financial decision-making. This finding indicates that in the banking context at the IDX, variations in audit fees and auditor assessment indicators are not strong enough to influence financial decisions compared to other more dominant factors such as fundamental financial performance conditions and internal and external monitoring mechanisms. This study provides empirical contributions by enriching evidence regarding the role of audit fees and auditor assessments in financial decision-making in the banking sector in Indonesia and provides input for regulators, bank management, and the public accounting profession regarding the importance of ensuring that the added value of audits is substantively reflected in the reporting and decision-making process.
Financial Performance and Operating Cash Flow as Determinants of Financial Distress Muhammad Rifki Abdul Ghoni; Rediyanto Putra
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2324

Abstract

Financial distress is a critical issue that may threaten corporate sustainability, particularly in the property and real estate sector, which is characterized by high capital intensity, long project cycles, and substantial dependence on external financing. Understanding the factors influencing financial distress is essential for stakeholders in evaluating corporate financial conditions and making informed decisions. This study investigates the effects of liquidity, profitability, leverage, and operating cash flow on financial distress among property and real estate companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The study adopts a quantitative approach using secondary data obtained from companies’ annual financial statements. A total of 40 companies were selected through purposive sampling, resulting in 200 firm-year observations. Financial distress was measured using the Modified Altman Z-Score model. Data were analyzed using descriptive statistics, classical assumption tests, and multiple linear regression analysis with IBM SPSS Statistics 27. The results indicate that liquidity and profitability have a positive and significant effect on financial distress, while leverage has a negative and significant effect on financial distress. Meanwhile, operating cash flow does not have a significant effect on financial distress. These findings suggest that variations in liquidity, profitability, and leverage play an important role in explaining financial distress conditions in property and real estate companies, whereas operating cash flow is not a determining factor. This study contributes to the financial distress literature by providing empirical evidence from the Indonesian property and real estate sector during the post-pandemic recovery period. The findings also offer practical implications for investors and corporate managers in assessing financial performance, identifying potential financial distress risks, and formulating strategies to enhance long-term financial sustainability.
Analysis of the Altman Z-Score Model in Predicting Financial Distress and Impact on the Value of the Firm Zakiyatul Istifadia Istifadia; P. Pujiono
Golden Ratio of Auditing Research Vol. 6 No. 2 (2026): February - June
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v6i2.2329

Abstract

This study aims to examine the effect of financial distress on firm value in energy sector companies listed on the Indonesia Stock Exchange during 2022–2024. Financial distress is proxied by the Altman Z-Score, while firm value is measured using Tobin’s Q. A quantitative approach was employed using secondary data obtained from annual financial statements. The sample was selected through purposive sampling, resulting in 196 observations after data adjusment. Data were analyzed using IBM SPSS Statistics 27 through descriptive statistics, classical assumption tests normality, multicollinearity, heteroscedasticity, autocorrelation, and multiple linear regression with liquidity, operating cash flow, and debt to equity ratio as control variables. The results reveal that the Altman Z-Score has a positive and significant effect on firm value, indicating that firms with stronger financial health tend to receive higher market valuations. In addition, operating cash flow has a positive significant effect on firm value, liquidity has a negative significant effect, while the debt-to-equity ratio does not significantly affect firm value. This study provides empirical evidence that the Altman Z-Score serves not only as an early warning indicator of bankruptcy risk but also as a relevant determinant of firm value in an emerging market with relatively low market efficiency. The findings offer practical implications for investors and corporate managers in assessing financial health to support investment decisions and corporate financial policies.

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