THE ROLE OF ISLAMIC CORPORATE GOVERNANCE, SHARIA SUPERVISORY BOARD, AND ISLAMIC SOCIAL RESPONSIBILITY IN COUNTERING FRAUDULENT FINANCIAL REPORTING
DOI:
https://doi.org/10.32332/finansia.v8i1.10161Keywords:
Financial Statement Fraud, Islamic Corporate Governance, Sharia Supervisory Board, Islamic Social ResponsibilityAbstract
Fraudulent financial reporting occurs in Islamic companies, specifically Indonesian Islamic banks, which are well-developed and uphold religious values. Despite this commitment, fraud still occurs in Islamic banking institutions. Therefore, this study aimed to investigate variables capable of reducing the occurrence of financial statement fraud. It also aimed to examine the influence of Sharia aspects of Islamic banking, such as ICG, SSB, and Sharia Social Responsibility, on fraudulent financial reporting. To achieve these objectives, data were obtained from 125 samples from Islamic banking companies during the period 2012-2022. Logistic regression analysis was also conducted. The results showed that Islamic Corporate Governance had a positive influence on fraudulent financial reporting, while Sharia Supervisory Board and ISR had no significant influence on fraudulent financial reporting.
Downloads
References
Ananda, Chintya Zara., And NR, Erinos. “Pengaruh Islamic Corporate Governance Dan Islamic Corporate Social Responsibility Terhadap Kinerja Perbankan Syariah (Studi Empiris Pada Bank Umum Syariah Yang Terdaftar Di Bursa Efek Indonesia Tahu 2012-2018).” Jurnal Eksplorasi Akuntansi, Vol. 2, No. 1, 2020. https://doi.org/10.24036/jea.v2i1.198.
Anugerah, Rita. “Peranan Good Corporate Governance Dalam Pencegahan Fraud.” Jurnal Akuntansi, Vol. 3, No. 1, 2014.
Bariyyah, Shofiyyatul., And Narulitasari, Devi. “Implikasi Tatakelola Islami Terhadap Fraud (Studi Pegawai BPRS Di Soloraya ).” Jurnal Ilmiah Ekonomi Islam, Vol. 6, No. 02, 2020. https://doi.org/10.29040/jiei.v6i2.1079.
Baten, Abdul., Polk, Thomas Kenneth., Ruhland, Gerald., Rose, Jerzy., And Peterson, Siegel. “A Lesson In The Relationship Between Corporate Social Responsibility (CSR) And Corporate Financial Fraud.” Review Of Business, Accounting And Finance, Vol. 01, No. 05, 2021.
Beneish, Messod D. “The Detection Of Earnings Manipulation.” Financial Analysts Journal, Vol. 55, No. 5, 1999. https://doi.org/10.2469/faj.v55.n5.2296.
Benston, George J., And Hartgraves, Al L. “Enron: What Happened And What We Can Learn From It.” Journal Of Accounting And Public Policy, Vol. 21, No. 2, 2002. https://doi.org/10.1016/s0278-4254(02)00042-x.
BPK, BPK. “Kasus Bank NTB Syariah, Transaksi Janggal Diduga Tidak Terdeteksi Audit Internal.” https://ntb.bpk.go.id/kasus-bank-ntb-syariah-transaksi-janggal-diduga-tidak-terdeteksi-audit-internal/, Retrieved December 13, 2024.
Brickey, Kathleen F. “From Enron To Worldcom And Beyond: Life And Crime After Sarbanes-Oxley.” Ssrn Electronic Journal, 2005. https://doi.org/10.2139/ssrn.447100.
Christian, Natalis., And Julyanti, Lenny. “Analisis Kasus PT. Asuransi Jiwasraya (Persero) Dengan Teori Dasar Fraud.” Jurnal Ilmiah Mea (Manajemen, Ekonomi, Dan Akuntansi), Vol. 6, No. 2, 2022. https://doi.org/10.31955/mea.v6i2.1982.
Dharma, Budi., Annisa, Adinda Sefina., And Wahyuni, Erika Sri. “Meneliti Peran Atribut Dewan Pengawas Syariah Dalam Mengurangi Penipuan Laporan Keuangan Oleh Bank Syariah.” Jurnal Ilmu Komputer, Ekonomi Dan Manajemen, Vol. 2, No. 1, 2022.
Ermawati, Liya., And Anggraini, Nia. “Pengaruh Komisaris Independen Dan Dewan Pengawas Syariah Terhadap Manajemen Laba (Studi Pada Bank Umum Syariah Di Indonesia).” Al-Mal: Jurnal Akuntansi Dan Keuangan Islam, Vol. 01, No. 01, 2020. http://dx.doi.org/10.24042/al-mal.v1i1.5319.
Gen, Wang., Yustina, Andi Ina., Hajanirina, Andrianantenaina., And Reyes, Mila Austria. “Corporate Social Responsibility And Corporate Innovation Efficiency: Evidence From China.” Journal Of Applied Accounting And Finance, Vol. 6, No. 1, 2022. https://doi.org/10.1108/ijoem-09-2021-1364.
Hady, Anindya Ratna Kartika., And Chariri, Anis. “Peran Pengungkapan Corporate Social Responsibility Dalam Memediasi Hubungan Koneksi Politik Dengan Kemungkinan Kecurangan Laporan Keuangan.” E-Jurnal Akuntansi, Vol. 32, No. 6, 2022. https://doi.org/10.24843/eja.2022.v32.i06.p18.
Khotimah, Husnul. “Kasus Enron Corporation, Etika Profesi Akuntansi Dan Stabilitas Ekonomi.” http://lppm.unpam.ac.id/2021/11/02/kasus-enron-corporation-etika-profesi-akuntansi-dan-stabilitas-ekonomi/, Retrieved December 13, 2024.
Larasati, Siska Anggraeni., Purwati, Atiek Sri., And Sugiarto, Sugiarto. “Analisis Faktor– Faktor Yang Mempengaruhi Fraudulent Financial Reporting Dengan Perspektif Crowe’s Fraud Pentagon Theory.” Jurnal Ekonomi, Bisnis, Dan Akuntansi, Vol. 22, No. 3, 2020. https://doi.org/10.32424/jeba.v22i3.1638.
Li, Xing., Kim, Jeong Bon., Wu, Haibin., And Yu, Yangxin. “Corporate Social Responsibility And Financial Fraud: The Moderating Effects Of Governance And Religiosity.” Journal Of Business Ethics, Vol. 170, No. 3, 2021. https://doi.org/10.1007/s10551-019-04378-3.
Lidyah, Rika. “Islamic Corporate Governance, Islamicityfinancial Performance Index And Fraudat Islamic Bank.” Jurnal Akuntansi, vol. 22, No. 3, 2018. https://doi.org/10.24912/ja.v22i3.398.
Martins, Orleans Silva., And Júnior, Raul Ventura. “The Influence Of Corporate Governance On The Mitigation Of Fraudulent Financial Reporting.” Revista Brasileira De Gestao De Negocios, Vol. 22, No. 1, 2020. https://doi.org/10.7819/rbgn.v22i1.4039.
Maryana, Dina., And Oktavia, Reni. “Pengaruh Return On Asset Dan Related Party Transaction Terhadap Fraudulent Financial Statement Pada Perusahaan Konstruksi Di Negara Asean.” Akuntansi, Vol. 2, No. 2, 2023. https://doi.org/10.55606/akuntansi.v2i2.250.
Muhammad, Rifqi., Kusumadewi, Ratna., And Saleh, Samsubar. “Analisis Pengaruh Syari’ah Compliance Dan Islamic Corporate Governance Terhadap Tindakan Fraud (Studi Empirik Pada Bus Di Indonesia Periode 2013-2017).” Iqtishadia Jurnal Ekonomi & Perbankan Syariah, Vol. 6, No. 1, 2019. https://doi.org/10.19105/iqtishadia.v6i1.2202.
Muhyi, Muhyi., And Suratno, Suratno. “Utilitas Pentagon Fraud Pada Fraudulent Financial Reporting Dan Impaknya Terhadap Kinerja Manajerial.” Jurnal Pendidikan Akuntansi & Keuangan, Vol. 9, No. 2, 2021. https://doi.org/10.17509/jpak.v9i2.37489.
Najib, Haifa., And Rini, Rini. “Sharia Compliance, Islamic Corporate Governance Dan Fraud Pada Bank Syariah.” Jurnal Akuntansi Dan Keuangan Islam, Vol. 4, No. 2, 2016. https://doi.org/10.35836/jakis.v4i2.23.
Ngumar, Sutjipto., Fidiana, Fidiana., And Retnani, Endang Dwi. “Implications Of Islamic Governance On Islamic Bank Fraud.” Jurnal Reviu Akuntansi Dan Keuangan, Vol. 9, No. 2, 2019. https://doi.org/10.22219/jrak.v9i2.8735.
Oradi, Javad., And Izadi, Javad. “Audit Committee Gender Diversity And Financial Reporting: Evidence From Restatements.” Managerial Auditing Journal, Vol. 35, No. 1, 2020. https://doi.org/10.1108/maj-10-2018-2048.
Owens‐Jackson, Lisa A., Robinson, Diana., And Shelton, Sandra Waller. “The Association Between Audit Committee Characteristics, The Contracting Process And Fraudulent Financial Reporting.” American Journal Of Business, Vol. 24, No. 1, 2009. https://doi.org/10.1108/19355181200900005.
Panin, Bank. “Direksi Panin Dubai Syariah Bank Imbau Tidak Terjadi Lagi Kasus Pembobolan.” https://www.idx.co.id/staticdata/newsandannouncement/announcementstock/from_erep/201904/0175b9bf0f_64b4848a74.pdf, Retrieved December 13, 2024.
Rahman, R. Abdul., And Anwar, I. S. Khair. “Types Of Fraud Among Islamic Banks In Malaysia.” International Journal Of Trade, Economics And Finance, Vol. 5, No. 2, 2014. https://doi.org/10.7763/ijtef.2014.v5.365.
Rahmayani, Rahmayani., And Rahmawaty, Rahmawaty. “Pengaruh Islamic Corporate Governance Dan Internal Control Terhadap Indikasi Terjadinya Fraud Pada Bank Umum Syariah Di Indonesia.” Jurnal Ilmiah Mahasiswa Ekonomi Akuntansi, Vol. 2, No. 3, 2017.
Ramly, Rully R., And Jatmiko, Bambang P. “Soal Deposito Raib, Bank Mega Syariah: Dana Telah Masuk Ke Rekening Perusahaan." https://money.kompas.com/read/2021/04/19/171527726/soal-deposito-raib-bank-mega-syariah-dana-telah-masuk-ke-rekening-perusahaan, Retrieved December 13, 2024.
Razali, Wan Ainul Asyiqin Wan Mohd., And Arshad, Roshayani. “Disclosure Of Corporate Governance Structure And The Likelihood Of Fraudulent Financial Reporting.” Procedia-Social And Behavioral Sciences, Vol. 145, 2014. https://doi.org/10.1016/j.sbspro.2014.06.032.
Ridho, Rasyid., And Arief, Teuku Muahammad Valdy. “3 Mantan Pejabat Bjb Syariah Didakwa Korupsi Kredit Kapal Rp 10,9 Miliar.” https://regional.kompas.com/read/2022/06/08/071312978/3-mantan-pejabat-bjb-syariah-didakwa-korupsi-kredit-kapal-rp-109-miliar?page=all, Retrieved December 13, 2024.
Saadah, Salamatus., And Mustofa, Mustofa. “Fraud Pada PT BTPN Syariah Di Indonesia.” Jurnal Ilmiah Ekonomi Islam, Vol. 10, No. 1, 2024. https://doi.org/10.29040/jiei.v10i1.12340.
Septriani, Yossi., And Handayani, Desi. “Mendeteksi Kecurangan Laporan Keuangan Dengan Analisis Fraud Pentagon.” Vol. 11, No. 1, 2018. http://jurnal.pcr.ac.id.
Soleman, Rusman. “Pengaruh Pengendalian Internal Dan Good Corporate Governance Terhadap Pen Cegahan Fraud.” Jurnal Akuntansi & Auditing Indonesia, Vol. 17, No. 1, 2013. https://doi.org/10.20885/jaai.vol17.iss1.art5.
Sugama, Daniel. “Analisis Kasus Audit Worldcom.” https://danielstephanus.wordpress.com/2021/04/12/analisis-kasus-audit-worldcom/, Retrieved December 13, 2024.
Tuanakotta, T. M. Akuntansi Forensik Dan Audit Investigatis. Jakarta: Salemba Empat, 2012.
Wicaksono, Gregorius Satrio., And Chariri, Anis. “Mekanisme Corporate Governance Dan Kemungkinan Kecurangan Dalam Pelaporan Keuangan.” Diponegoro Journal Of Accounting, Vol. 4, No. 4, 2015.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Media Kusumawardani, Achmad Soediro, Fardinant Adhitama, Vivi Usmayanti- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
