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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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The Effect of The World Uncertainty Index on Cash Holdings in Indonesian Public Companies Fatah, Juan Adhitya
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.v6i1.1428

Abstract

This study aims to examine the effect of the World Uncertainty Index (WUI)—a global measure of economic and policy uncertainty—on the cash holdings of publicly listed non-financial companies in Indonesia. Given the increasing global economic and geopolitical uncertainty, understanding how firms in emerging markets manage liquidity is both theoretically relevant and practically important. The study employs a quantitative approach, using panel data regression on a sample of 782 non-financial firms listed on the Indonesia Stock Exchange from 2013 to 2024. A total of 5,944 firm-year observations were analyzed. The empirical analysis applies the fixed effect model and Driscoll-Kraay standard errors to ensure robust statistical inference. The findings reveal a statistically significant and negative relationship between the WUI and corporate cash holdings. This suggests that during periods of high global uncertainty, Indonesian firms tend to reduce cash reserves, potentially to sustain operational activities or meet short-term obligations. The results challenge the traditional precautionary motive, which posits that firms increase cash in response to uncertainty. Instead, they highlight a context-specific liquidity behavior in emerging markets, where financial constraints and weak external financing channels may force firms to deplete cash during uncertain times. The study provides practical insights for financial managers in designing adaptive liquidity strategies, and it highlights the need for policymakers to support corporate resilience in volatile global conditions.
Financial Literacy, Financial Behavior, and Financial Inclusion as Critical Determinants of Economic Resilience Among Fishing Families in Tambak Lorok, Semarang, Indonesia Karomah, Kamiliya Nurul; Melati, Inaya Sari
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.v6i1.1429

Abstract

Tanjung Mas is an administrative village in North Semarang that includes a fishing settlement known as Tambak Lorok, located within the Semarang Port area. Due to its direct access to the sea, the area is rich in marine resources. However, this abundance has not translated into prosperity for the local fishing families. In fact, Tanjung Mas is one of the three urban villages in Semarang City that are classified as experiencing extreme poverty. This condition has significantly impacted the area's economic resilience of fishing families. This study aims to analyze the influence of financial literacy, financial behavior, and financial inclusion—three factors that play an important role in determining the economic resilience of fishing families in Tambak Lorok. This research adopts a quantitative approach using a questionnaire-based survey method. Data analysis was conducted using SPSS version 26, chosen for its ability to objectively and empirically test the partial and simultaneous effects of independent variables on a single dependent variable. A total of 265 respondents were selected using a convenience sampling technique. The analytical method employed was multiple linear regression. The hypothesis testing results show that all three variables have a significant positive effect, with significance values of Sig. = 0.002 for financial literacy, Sig. = 0.001 for financial behavior, and Sig. = 0.000 for financial inclusion. Future research is encouraged to broaden the geographic scope of the study to enable comparative analyses across different fishing communities, adopt a mixed-methods approach for more comprehensive results, and consider modifying or adding other relevant variables.
Effect of Financial Distress, Auditor Quality, and Tenure on Going Concern Audit Opinion with Opinion Shopping as Moderating Factor Jarot, Ahmad; Suhendar, S.; Nuraziza, Sania
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.v6i1.1449

Abstract

This study aims to examine the effect of financial distress, auditor quality, and auditor-client tenure on going concern audit opinion, with opinion shopping as a moderating variable. This research is motivated by the inconsistency of previous findings and the need to explore managerial opportunism through auditor switching behavior. The study population comprises companies in the consumer goods sector listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024. The sample selection was conducted using purposive sampling, resulting in 10 companies with 50 firm-year observations. The data were analyzed using Moderated Regression Analysis (MRA). The results indicate that financial distress, auditor quality, and auditor-client tenure have a significant impact on the going concern audit opinion. Additionally, opinion shopping significantly moderates the effect of auditor quality and auditor-client tenure on going concern opinion, but does not moderate the effect of financial distress. This study contributes to the literature by integrating opinion shopping as a moderating variable, an approach that remains underexplored, particularly in the consumer goods sector. Practical implications include reinforcing auditor independence and rotation policies to mitigate audit bias.
The Influence of Profitability and Cash Holding on Income Smoothing in an Islamic Perspective Fikriyah, Nasiatul Hana; Nurlaili, N.; Sisdianto, Ersi
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.v6i1.1458

Abstract

This study aims to analyze the effect of profitability and cash holdings on income smoothing from an Islamic perspective in Islamic commercial banks in Indonesia from 2020 to 2023. The sampling technique used was purposive sampling with 10 Islamic commercial banks in Indonesia over 4 years. This study used a quantitative approach using logistic regression. The model testing uses the Hosmer and Lemeshow model goodness-of-fit test, the coefficient of determination test, and the partial and simultaneous significance tests. The study's results indicate that, partially, profitability and cash holdings do not influence income smoothing, as evidenced by the significance values of each variable being greater than 0.05. However, simultaneously, both variables influence income smoothing. From an Islamic perspective, the results of this study indicate that Islamic commercial banks are committed to the principles of transparency, honesty, and accountability in financial reporting. This study found no indication that Islamic bank management smokes income based on profitability or cash holdings. This study expands the literature on Islamic accounting by emphasizing the importance of ethical and responsible profit management and providing an overview of how Islamic principles are applied in current financial practices.
Investment Opportunity Set, Firm Growth, and Profitability on Firm Value: The Moderating Role of CSR in Indonesian Manufacturing Firms (JII) Wibowo, Geodimas; Pratomo, Dimas; Etika, Citra
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.v6i1.1461

Abstract

This study investigates the effect of the Investment Opportunity Set (IOS), firm growth, and profitability on firm value, with Corporate Social Responsibility (CSR) as a moderating variable. The research focuses on manufacturing companies listed in the Jakarta Islamic Index (JII) for 2019–2024. IOS is measured using the Market to Book Value ratio, firm growth by changes in total assets, profitability by Return on Equity (ROE), firm value by Price to Book Value (PBV), and CSR by the Global Reporting Initiative (GRI) 2016 indicators. A total of six companies were selected through purposive sampling, resulting in 36 observations. The data were analyzed using panel data regression and Moderated Regression Analysis (MRA) with EViews 12. The results show that IOS and profitability positively and significantly affect firm value, while firm growth has no significant effect. CSR significantly moderates the relationship between IOS and firm value, but does not moderate the effects of growth and profitability. These findings support signaling and agency theory and highlight that strategic CSR aligned with substantial investment and profit potential can enhance firm value, especially in sharia-based capital markets.
The Effect Of Corporate Governance, Capital Intensity, And CSR On Financial Performance In The F&B Sector Listed On IDX 2021-2024 Paresta, Rafa Kamal; Wulandari, Sartika
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.v6i1.1523

Abstract

Financial performance describes how well the business can use its resources to profit. This quantitative research aims to ascertain elements that can affect financial performance, such as financial and non-financial ratios. Corporate governance, capital intensity, and corporate social responsibility are some indicators. For 2021-2024, IDX-listed firms operating in the food and beverage subsector comprised the population. The population consisted of 132 food and beverage sub-sector companies. A purposive sample strategy was used in this investigation. The research includes 24 different businesses. Data analysis uses EViews12 with a panel regression model. The study results show that corporate governance variables have a significant effect on ROA, capital intensity has no effect on ROA, and corporate social responsibility (CSR) has a negative and significant effect on ROA.
The Effect of Green Accounting and Islamic Corporate Social Responsibility on Sustainability Performance in Manufacturing Companies Listed on the Jakarta Index (2020–2023) yunita, Via; Nurlaili, N.; Sisdianto, Ersi
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.v6i1.1456

Abstract

This study aims to evaluate the extent to which green accounting and Islamic Corporate Social Responsibility (ICSR) impact the achievement of sustainable performance in manufacturing companies listed on the Jakarta Islamic Index from 2020 to 2023. Green accounting is a financial reporting approach that incorporates environmental aspects, aiming to enhance corporate transparency and accountability in environmental preservation. On the other hand, ICSR reflects corporate social responsibility based on Islamic principles, which emphasizes the fulfillment of stakeholder rights and the preservation of ecosystem balance. This study employs multiple regression methods using secondary data obtained from annual reports and sustainability reports, and the results are tested using the EViews 10 tool. The results showed that Green Accounting has a negative impact on sustainability performance, while ICSR has a positive and significant effect. Simultaneously, both variables have a significant effect on the company's sustainability performance. These findings offer valuable insights into the integrative role of environmental reporting and Islamic-based social responsibility in promoting corporate sustainability. This study aims to make theoretical and practical contributions to the development of corporate sustainability strategies grounded in Islamic values in Indonesia.
Bibliometric Analysis of Auditor Switching Development with Vosviewer Anisa, Asti Sri; Santoso, Rachmat Agus; Fitriana, F.
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.v6i1.1462

Abstract

The decision of a company to switch auditors, known as auditor switching, is a significant issue in the accounting field as it relates to auditor independence, regulatory frameworks, and the dynamics of auditor-client relationships. This study analyzes the development of auditor switching literature using a bibliometric approach based on 103 articles indexed in Scopus from 1988 to 2025. Utilizing VOSviewer software, the research identifies publication trends, core journals, and four main keyword clusters that reflect key research focuses: regulation, internal company conditions, financial pressure, and managerial motivation. The findings reveal a steady increase in publications, peaking in 2019. These results provide a comprehensive overview of the auditor switching research landscape and offer directions for future studies.
Predicting Financial Failure in Indonesian Manufacturing Firms Using Ratio Analysis Putri, Anika; Subadriyah, S.
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.v6i1.1517

Abstract

This study aims to examine the impact of financial ratios on financial distress in manufacturing firms listed on the Indonesia Stock Exchange (IDX) for the period 2022–2023. The independent variables analyzed comprise liquidity, profitability, leverage, and activity ratios, while the dependent variable is financial distress. The research utilizes multiple linear regression analysis within a quantitative framework. From a population of 170 companies, purposive sampling was applied to select 23 firms as the sample. Data analysis was performed utilizing SPSS version 25. The results indicated that liquidity, profitability, and activity ratios have a significant negative influence on financial distress, implying that higher levels of these ratios are associated with a reduced risk of distress. Conversely, the leverage ratio demonstrated a significant positive effect on financial distress, indicating that increased dependence on debt heightens the probability of financial difficulties. This study contributes to existing literature and offers important guidance for company management, investors, and creditors in the process of making financial decisions.
Examining Profitability: Through The Lens of Board Age Diversity in Indonesian Manufacturing Firms Tewal, Florence Melvin; Rusliyawati; Helmi , Syarif M.
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.v6i1.1542

Abstract

Further insight into the impact of company size, tax planning, and leverage towards profitability through the perspective of board age diversity. Manufacturing companies of various sub-sectors that earn positive income listed on the Indonesia Stock Exchange as per the year under research are the population used. The number of companies used as samples in this study was 23, with three years of observation (2022-2024). The study uses secondary data from their companies' official websites and the Indonesian Stock Exchange. It uses a quantitative method that uses panel data regression analysis and will conduct the Chow and Hausman tests to determine the regression analysis processed with the Eviews 12 application. The research results state that company size positively affects profitability. In line with that, tax planning has a positive effect on profitability as well. Meanwhile, leverage has a negative influence on profitability. It was also found that board age diversity moderates the correlation of company size and tax planning on profitability, so any decision-making process leads to increased profitability. However, board age diversity cannot moderate the relationship between leverage and profitability.

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