Corporate Governance and the Integrity of Financial Statements: Evidence from Energy Companies Listed on the Indonesia Stock Exchange

Oktavia Handayani; Mazda Eko Sri Tjahjono

doi:10.55927/ijbae.v4i5.369

Authors

Oktavia Handayani Universitas Sultan Ageng Tirtayasa
Mazda Eko Sri Tjahjono Universitas Sultan Ageng Tirtayasa

DOI:

https://doi.org/10.55927/ijbae.v4i5.369

Keywords:

Integrity Reporting, Corporate Governance, Ownership

Abstract

This study examines the impact of corporate governance on the integrity of financial statements in energy sector companies listed on the Indonesia Stock Exchange (2021–2023). Motivated by concerns over financial statement manipulation—where ACFE (2019) reported 6.7% fraud in Indonesia—it measures corporate governance via board of directors, audit committee, managerial ownership, institutional ownership, and independent commissioners. Financial statement integrity, proxied by conservatism, is the dependent variable. Using agency theory, the research applies quantitative methods with secondary annual report data, aiming to provide theoretical and practical insights into how governance mechanisms influence the reliability of financial reporting in Indonesia’s energy sector.

References

Abbas, D., Siregar, I. G., & Basuki. (2021). Integrity Of Financial Statements And The Factors. Journal of Accounting Science, 5(1), 18–28. https://doi.org/10.21070/jas.v5i1.1108

Akram, H., Basuki, P., & Budiarto, H. (2018). Pengaruh Mekanisme Corporate Governance, Kualitas Audit, Ukuran Perusahaan Dan Leverage Terhadap Integritas Laporan Keuangan. Jurnal Aplikasi Akuntansi, 2(1), 95. https://doi.org/10.29303/jaa.v2i1.12

Amri, M. (2017). Pengaruh Kompensasi Manajemen Terhadap Penghindaran Pajak Dengan Moderasi Diversifikasi Gender Direksi Dan Preferensi Risiko Eksekutif Perusahaan Di Indonesia. Jurnal ASET (Akuntansi Riset), 9(1), 1. https://doi.org/10.17509/jaset.v9i1.5253

Anah, S., Rizky Mustika Anggraeni, & Abdul Rahmat. (2023). The Effect of The Board of Directors, Audit Committee, and Company Size on The Integrity of Financial Statements (Empirical Study on State-Owned Enterpriseslisted on The Indonesia Stock Exchange 2016-2020 Period). Journal of Accounting and Finance Management, 4(2), 168–179. https://doi.org/10.38035/jafm.v4i2.212

Anastasia, P. N., Rahayu, M., & Nursina, N. (2023). Kepemilikan Institusional, Kepemilikan Manajerial dan Ukuran Perusahaan terhadap Integritas Laporan Keuangan. IKRAITH-EKONOMIKA, 6(3), 135–144.

Andini, S., Hizazi, A., & Kusumastuti, R. (2024). Pengaruh Kepemilikan Manajerial, Audit Report Lag, Leverage dan Financial Distress Terhadap Integritas Laporan Keuangan. Studi Akuntansi Dan Keuangan Indonesia, 7(1), 1–16.

Devie, D., Anggono, N. M. A., Pradana, V. C. S., & Kwistianus, H. (2024). The Analysis of Corporate Governance on Integrity Financial Statements in Banking Companies Listed on The Indonesia Stock Exchange. International Journal of Organizational Behavior and Policy, 3(2), 97–108.

Fauziah, M. R., Astuti, S., & Sutoyo, S. (2023). Pengaruh Ukuran Perusahaan, Struktur Corporate Governance dan Corporate Social Responsibility (CSR) Terhadap Integritas Laporan Keuangan. Reviu Akuntansi Dan Bisnis Indonesia, 7(2), 335–349.

Febriyanti, N., & Wahidahwati, W. (2020). Pengaruh corporate governance, leverage dan investment opportunity set terhadap integritas laporan keuangan. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 9(4).

Fitriyana, D. R., & Nazar, S. N. (2022). The Effect Of Audit Tenure, Auditor Switching And Institutional Ownership On Financial Statements Integrity. Governors, Volume: 01(Number 02). https://doi.org/: doi.org/10.47709/governors.v1i2.1651

Ghozali, I. (2018). Aplikasi analisis multivariate dengan program SPSS (Ed. 4). Badan Penerbit Universitas Diponegoro.

Halim, K. I. (2021). Pengaruh ukuran perusahaan, pergantian manajemen, dan reputasi auditor terhadap auditor switching. Jurnal Revenue: Jurnal Ilmiah Akuntansi, 2(1), 75–82.

Indrasti, A. W. (2020). Peran komisaris independen, kepemilikan institusional, kebijakan hutang serta ukuran perusahaan terhadap integritas laporan keuangan. Jurnal Ekonomika Dan Manajemen, 9(2), 152–163.

Istiantoro, I., Paminto, A., & Ramadhani, H. (2017). Pengaruh struktur corporate governance terhadap integritas laporan keuangan perusahaan pada perusahaan LQ45 yang terdaftar di BEI. AKUNTABEL: Jurnal Ekonomi Dan Keuangan, 14(2), 157–179.

Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Corporate governance (pp. 77–132). Gower.

Marpaung, A. Y. K., Tinambunan, L. R., Bangun, I. N., & Simorangkir, E. (2021). Pengaruh komisaris independen, komite audit, kepemilikan institusional dan kualitas audit terhadap integritas laporan keuangan di perusahaan sub sektor transportasi yang terdaftar di BEI tahun 2017-2019. Journal Of Economic, Bussines And Accounting (Costing), 5(1), 160–168.

Mashuri, A. A. S., Ermaya, N. L. H., & Fahria, R. (2023). Determinants Of Financial Statements Integrity In Company Index Kompas 100. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 18(1). https://doi.org/10.25105/jipak.v18i1.15820

Maychandra, B., & Nelvirita, N. (2023). Faktor-Faktor Yang Mempengaruhi Integritas Laporan Keuangan. Jurnal Eksplorasi Akuntansi, 5(4), 1573–1587.

Ningsih, N. C., Endiana, I. D. M., & Arizona, I. P. E. (2021). Pengaruh Corporate Governance Terhadap Integritas Laporan Keuangan Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. KARMA (Karya Riset Mahasiswa Akuntansi), 1(5), 1554–1563.

Novianti, S., & Isynuwardhana, D. (2021). Pengaruh Komisaris Independen, Leverage, Dan Kepemilikan Institusional Terhadap Integritas Laporan Keuangan. Jurnal Pendidikan Akuntansi & Keuangan, 9(1), 64–73. https://doi.org/10.17509/jpak.v9i1.27003

Panda, B., & Leepsa, N. M. (2017). Agency theory: Review of Theory and Evidence on Problems and Perspectives. Indian Journal of Corporate Governance, 10(1), 74–95. https://doi.org/10.1177/0974686217701467

Pardede, H. A., & Annisa, D. (2023). Pengaruh Komisaris Independen, Komite Audit dan Corporate Governance Terhadap Integritas Laporan Keuangan: (Studi Empiris pada Perusahaan Manufaktur Sektor Aneka Industri Yang Terdaftar di Bei Tahun 2018 - 2020). AKUA: Jurnal Akuntansi Dan Keuangan, 2(3), 213–225. https://doi.org/10.54259/akua.v2i3.1784

Pramudityo, W. A. & Sofie. (2023). Pengaruh Komite Audit, Dewan Komisaris Independen, Dewan Direksi Dan Kepemilikan Institusional Terhadap Kinerja Keuangan Perusahaan. Jurnal Ekonomi Trisakti, 3(2), 3873–3880. https://doi.org/10.25105/jet.v3i2.18026

Purwantiningsih, A., & Anggaeni, D. (2021). Analisis Pengaruh Corporate Governance dan Kualitas Audit terhadap Integritas Laporan Keuangan pada Perusahaan Manufaktur Sub Sektor Otomotif dan Komponen yang Terdaftar di Bursa Efek Indonesia Periode 2012-2017. Studi Akuntansi, Keuangan, Dan Manajemen, 1(1), 33–43. https://doi.org/10.35912/sakman.v1i1.399

Santika, S., & Kurniawan, E. (2023). The Influence Of Institutional Ownership, Managerial Ownership, And Company Size On The Integrity Of Financial Reports. Idscipub Accounting and Tax Insight, 1(1), 27–38.

Savitri, E. (2016). Konservatisme Akuntansi: Cara Pengukuran, Tinjauan Empiris dan Faktor-faktor yang Mempengaruhinya.

Sugiyono, P. D. (2017). Metode penelitian bisnis: Pendekatan kuantitatif, kualitatif, kombinasi, dan R&D. Penerbit CV. Alfabeta: Bandung, 225(87), 48–61.

Suroya, N. A., Darmayanti, N., & Shoimah, S. (2024). Pengaruh Kepemilikan Institusional, Komite Audit Dan Komisaris Independen Terhadap Integritas Laporan Keuangan. Jurnal Analisa Akuntansi Dan Perpajakan, 8(1), 39–55. https://doi.org/10.25139/jaap.v8i1.6781

Suzan, L., & Nasution, M. J. (2023). The Effect of Institutional Ownership, Independent Commissioners and Debt Policy on Financial Statement Integrity. JASa (Jurnal Akuntansi, Audit Dan Sistem Informasi Akuntansi), 7(3), 533–543. https://doi.org/10.36555/jasa.v7i3.2294

Tamara, A. N. P., & Kartika, A. (2021). Pengaruh kepemilikan institusional, kepemlikan manajerial, dan komite audit terhadap integritas laporan keuangan. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 12(2), 647–656.

Yendrawati, R., & Hidayat, M. F. (2021). Determinants of financial statements integrity. Jurnal Akuntansi & Auditing Indonesia, 25(2), 115–124. https://doi.org/10.20885/jaai.vol25.iss2.art2

Yolandra, A. H. A., Eltivia, N., & Riwajanti, N. I. (2023). Analysis of the Effect of Managerial Ownership and Financial Distress on the Integrity of Financial Statements. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 9(1), 123–132. https://doi.org/10.34204/jiafe.v9i1.6683

Yuniawati, R. A. (2023). Analysis Of Factors That Affecting The Integrity Of Financial Statements. Jurnal Ekonomi, 12(3), 1073–1083.