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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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Carbon Management Accounting, Profitability, and Carbon Tax Intensity: The Moderating Role of the Energy Mix Adinda Dwika Rahma; W. Widyasari
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2393

Abstract

The energy sector is the largest contributor to greenhouse gas emissions in Indonesia and is the first sector subject to the carbon tax under Law No. 7 of 2021 on the Harmonization of Tax Regulations. This study investigates the effect of Carbon Management Accounting (CMA) on profitability and carbon tax intensity, while examining the moderating role of the energy mix, measured by the consumption ratios of coal, diesel, and biodiesel. Unlike previous studies that proxy CMA using disclosure indices or PROPER ratings, this study measures CMA directly based on the quantification of Scope 1 carbon footprint using emission factors from the Intergovernmental Panel on Climate Change (IPCC) Tier 1 and Indonesia's Ministry of Energy and Mineral Resources (MEMR) Tier 2. The sample consists of six coal mining companies listed on the Indonesia Stock Exchange during the 2020–2024 period, yielding 30 firm-year observations selected through purposive sampling. The data were analyzed using Moderated Regression Analysis (MRA) based on a Fixed Effects Model with White cross-section robust standard errors in EViews 13. The results indicate that CMA has no significant effect on profitability, measured by Return on Equity (ROE), across all models (p = 0.8133, 0.3268, and 0.4930), and none of the three energy mix ratios moderates this relationship. In contrast, CMA has a significant positive effect on carbon tax intensity in both the diesel model (β = 0.00138, p = 0.0026) and the biodiesel model (β = 0.00348, p = 0.0020). Furthermore, all three energy mix ratios significantly moderate this relationship. The coal consumption ratio strengthens the positive effect of CMA on carbon tax intensity (β = 0.00567, p = 0.0028), whereas the diesel (β = −0.00216, p = 0.0186) and biodiesel (β = −0.00348, p = 0.0059) consumption ratios weaken it. These findings suggest that the benefits of CMA are more evident in reducing carbon tax exposure than in improving firms' short-term profitability.
Altman Z-Score Analysis in Predicting Financial Distress and Its Impact on Firm Value: Evidence from Property Sector Companies Listed on the Indonesia Stock Exchange (2022–2024) Muhammad Figo Yosawiyata; P. Pujiono
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2424

Abstract

This study examines the effect of financial distress, measured by the Altman Z-Score, on firm value among property sector companies listed on the Indonesia Stock Exchange during 2022–2024. Liquidity, operating cash flow, and leverage are included as control variables to provide a more comprehensive understanding of the determinants of firm value. Using a quantitative approach, this study employs secondary data obtained from annual financial statements. The sample was selected through purposive sampling, resulting in 132 firm-year observations. Data were analyzed using multiple linear regression with IBM SPSS Statistics 27. The results indicate that the Altman Z-Score, liquidity, operating cash flow, and leverage have positive and significant effects on firm value proxied by Tobin’s Q. These findings suggest that firms with stronger financial health, better short-term solvency, stable operating cash flows, and effective debt management tend to achieve higher market valuations. The study supports signaling theory and agency theory, highlighting the importance of financial information in investors’ assessments of corporate prospects. Practically, the findings imply that managers should maintain financial health, improve operating cash flow quality, and optimize leverage management to enhance firm value and strengthen investor confidence.
The Effects of ROA, ROI, and Company Size on Audit Delay among IDX Companies Sanctioned for Late 2025 Interim Reporting Septian Ade Saputra; Syakieb Arsalan
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2522

Abstract

This research employs a descriptive, quantitative approach, drawing on secondary data from audited financial statements and annual reports. The research sample was selected using a purposive sampling method, comprising 24 companies and 120 observations. Return on Assets (ROA) was measured by dividing the net income by total assets; Return on Investment (ROI) was measured by by dividing the net income by the total cost of investment; and company size was measured using the natural logarithm of total assets. Audit delay was measured as the number of days between the end of the fiscal year and the date of the independent auditor's report. The results indicate that the Return on Assets (ROA) had a negative and significant effect on audit delay, Return on Investment (ROI) had no significant effect on audit delay, while company size had no effect on audit delay. These findings indicate that Return on Assets (ROA), play a greater role in determining audit timeliness than Return on Investment (ROI) and company size. This research is expected to provide practical implications for management and auditors in improving the efficiency and timeliness of audit completion.
The Role of the Shariah and Intangible Assets in Managing Cost of Debt and Enhancing Competitiveness across the Corporate Life Cycle Diana Hasyim; Nurul Wardani Lubis; Ahmad Hidayat; Riza Indriani; Edison Parulian
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2019

Abstract

This study investigates the multilevel relationship between normative values, asset based views, finance based views, and strategic management in Islamic economics. It aims to explain how intangible assets mediate the influence of the Shariah system on the cost of debt and competitiveness across corporate life cycle stages. Using panel data of 720 firm year observations from Shariah and non Shariah firms, the study applies a multilevel mediation–moderation model. The results show that investment efficiency partially mediates the relationship between the Shariah system and cost of debt through a suppressor effect, yielding a negative total effect. However, investment efficiency does not mediate the Shariah–competitiveness relationship. Conversely, corporate reputation partially mediates the link between the Shariah system and competitiveness, but not with the cost of debt. Furthermore, the moderating role of the corporate life cycle is nonlinear and dynamic, as the Shariah system’s ability to reduce cost of debt varies significantly from the introduction to the decline stage. These findings highlight the critical importance of life cycle perspectives in understanding cost efficiency and competitive strategy in Shariah compliant firms. Ultimately, this research provides vital implications for developing more adaptive Shariah based financial management policies.
The Effects of Institutional Ownership, Managerial Ownership, Audit Committee, Gender Diversity, and Profitability on Carbon Emissions Disclosure Shafira Syauqina Munifah; Erma Setiawati
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2328

Abstract

This study aims to analyze the effects of institutional ownership, managerial ownership, audit committee, gender diversity, and profitability on carbon emission disclosure in non-financial companies listed on the Indonesia Stock Exchange during the 2021–2024 period. This study uses secondary data obtained from annual reports and sustainability reports published by companies listed on the Indonesia Stock Exchange. The sampling technique used was purposive sampling, resulting in a total sample of 56 companies with 224 firm-year observations over a four-year period. The dependent variable in this study is carbon emission disclosure, measured using the Carbon Emission Disclosure (CED) Index. The independent variables include institutional ownership, managerial ownership, audit committee, gender diversity, and profitability. The data analysis method used is multiple linear regression analysis, and the data have passed the classical assumption tests. The results indicate that institutional ownership, managerial ownership, and gender diversity have a negative and significant effect on carbon emission disclosure. Meanwhile, audit committee and profitability do not have a significant effect on carbon emission disclosure.
The Impact of the Increase in Tobacco and Electronic Cigarette Excise on State Revenue Dea Retno Putri; Tony Sudirgo
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2348

Abstract

State revenue is influenced by the contribution of tobacco excise. According to the APBN Kita publication by the Ministry of Finance (2026), Tobacco Excise (CHT) revenue in 2025 reached Rp216.9 trillion. This study was conducted with the aim of determining the effect of cigarette excise, electronic cigarette excise, the gross domestic product of the cigarette and tobacco industry, and the cigarette consumer price index on state revenue.This quantitative study uses 38 time series data points from 2016 to the second quarter of 2025. Data analysis was conducted using multiple linear regression with a natural logarithm transformation and then executed through the RStudio program. The empirical result demonstrates that the model escplains 44.34% (Adjusted R2) of the variance in state revenue research results indicate that the rates of tobacco excise, electronic cigarette excise, and cigarette CPI have a negative and significant effect on state revenue. Meanwhile, the GDP of the tobacco industry does not significantly affect state revenue. This study demonstrates that the government-imposed tariffs have led to a decrease in legal cigarette consumption, which ultimately reduces state revenue.
The Role of Political Connections and Management Risk Appetite on Financial Distress in the Indonesian Banking Sector Moh. Ridwan Pamungkas; Intan Kurnia Permatasari
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2488

Abstract

In heavily regulated banking sectors, understanding how managerial risk preferences and political linkages influence systemic financial stability is paramount. This study examines the effects of management risk appetite and political connections on financial distress, and tests political connections as a moderating variable among publicly listed banks in Indonesia during 2019–2024, controlling for bank age, board size, institutional ownership, and net interest margin. Using purposive sampling, 42 banks were selected, yielding 252 firm-year observations analyzed via panel data regression using a Random Effects Model. The results reveal that management risk appetite has no significant direct effect on financial distress, suggesting that strict regulatory oversight tempers internal risk preferences. In contrast, political connections significantly exacerbate financial distress, undermining overall bank health. Political connections do not significantly moderate the impact of management risk appetite on financial distress. Among the control variables, net interest margin significantly improves financial stability. This study contributes to the corporate governance literature by providing empirical evidence from an emerging market on the destabilizing role of political ties in banking distress. The findings offer practical insights for regulators and bank boards to strengthen oversight on political connections. However, the model exhibits limited explanatory power. Future research should incorporate broader governance mechanisms and specific political tie dimensions to extend these findings.
The Moderating Role of Leverage on Earnings Per Share, Company Size, Liquidity, and Activity on the Financial Performance of Manufacturing Companies in 2019-2024 Ali Fikri; G. Gusni
Golden Ratio of Auditing Research Vol. 7 No. 1 (2027): July - January
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grar.v7i1.2597

Abstract

This study aims to analyze the moderating effect of leverage on earnings per share, company size, liquidity, and activity on the financial performance of manufacturing companies in 2019-2024. This study uses a quantitative method with the help of the statistical program EViews 13.0. Data were collected using secondary data from the financial reports of manufacturing companies from to 2019-2024. The data analysis technique used a regression model, namely, the Panel Data Regression Moderating Variables approach. The results of this study indicate that earnings per share has a positive effect on company financial performance, company size has a positive effect on company financial performance, liquidity has no effect on company financial performance, and activity has no effect on company financial performance. The moderating impact of leverage has a significant negative effect on earnings per share on company financial performance, leverage moderation has a significant negative effect on company size on company financial performance, leverage moderation has no effect on liquidity on company financial performance, and leverage moderation has a significant positive effect on company activity on company financial performance.

Page 16 of 16 | Total Record : 158

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