Deteksi Manipulasi Laporan Keuangan Menggunakan Model Beneish M-Score pada BUMN yang Terdaftar di Pasar Modal

Abstract

Inefficiency, mismanagement, political elements, conflicts of interest are some of the causes of problems in SOE. The purpose of this study is to provide empirical evidence of manipulation of the financial statements of SOEs. By using a sample of 16 state-owned companies with 10 years of observation, we find that there are 98 companies classified as manipulators and 62 non-manipulator companies out of 160 company year observations. We offer to use the Beneish M-Score model to detect manipulation of financial statements involving 8 financial variables namely, DSRI, GMI, AQI, SGI, DEPI, SGAI, LVGI and TATA. Our research findings are that GMI and TATA affect the manipulation of financial statements. Our findings show that SOEs improve permanent income by increasing sales and accounts receivable data so that margins are more acceptable by relevant users. Suboptimal margins are evidence that there are inefficiencies in SOEs. In addition to GMI, SOE management also utilises the flexibility of the company's accruals by improving the cash element, and the company's liabilities to assets so that it appears to have a good solvency value as a representation that SOEs have promising subsequent growth