Hexagon Fraud Analysis in Detecting Potential Fraud in Financial Reports with the Audit Committee as A Moderation (A Study of State-Owned Companies Listed on the IDX In 2019-2023)
Abstract
This study aims to analyze the effect of elements in the fraud hexagon theory on the potential for fraudulent financial statements in State-Owned Enterprises (BUMN) companies listed on the Indonesia Stock Exchange for the 2019-2023 period. The independent variables studied include external pressure, ineffective monitoring, change of auditor, change of director, arrogance, and collusion. In contrast, the dependent variable studied is potential financial statement fraud, and the moderating variable is the audit committee. This study uses a quantitative approach using secondary data in the form of company financial reports, and the data analysis technique used is EViews. Based on the analysis, the results are that a change of auditor, director, and arrogance significantly affect the potential for fraudulent financial statements.In contrast, external pressure, ineffective monitoring and collusion do not significantly affect the potential for fraudulent financial statements. The results also found that the audit committee can moderate the effect of a change of auditor and director on the potential for fraudulent financial statements. In contrast, the audit committee cannot moderate the effect of external pressure, ineffective monitoring, collusion and arrogance on the potential for fraudulent financial statements. The study results are expected to expand knowledge, add references, and provide additional information in mitigating the potential for fraudulent financial statements, especially in state-owned companies.
Keywords: fraud hexagon, fraudulent financial statements, audit committee
DOI: 10.7176/EJBM/17-6-09
Publication date: July 30th 2025

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