PERAN MODERASI KOMPETENSI KOMITE AUDIT PADA HUBUNGAN ANTARA STRUKTUR KEPEMILIKAN DAN KUALITAS PELAPORAN KEUANGAN
DOI:
https://doi.org/10.25170/jara.v11i1.53Keywords:
Ownership Structure, Audit Committee Competence, Financial Reporting QualityAbstract
This research is aimed to investigate the influence of the competence of audit committee on the relationship between the corporate ownership structure and reporting quality. We used secondary data, which is the annual report of listed companies at Indonesia Stock Exchange from 2013-2016 respectively. The sampling method is purposive sampling where the researcher obtained 116 companies as the sample. Data examination uses multiple linear regression analysis using IBM SPSS program (Statistical Program for Social Science) 20 in data processing. The results showed that family ownership, and foreign ownership has a positive but not significant effect on the financial reporting quality, while family ownership and audit committee competence has a positive and significant effect on financial reporting quality, as well as foreign ownership and audit committee competence has a positive and significant effect on the financial reporting quality. The result of this research is expected to be a consideration and recommendation for the firms to fill audit committees with people who have competence / expertise in accounting and finance and improve the ownership structure so that the monitoring function becomes effective and efficient in achieving the objectives of the conceptual framework of financial reporting which leads to reducing the manipulation of financial statements.
References
Akhtaruddin, M. and Haron, H. (2010). Board ownership, audit committees effectiveness, and corporate voluntary disclosures. Asian Review of Accounting, 18, 3, 245-259.
Anderson, R. C., Mansi,S.A., dan Reeb, D. M. (2003). Founding family ownership and the agency cost of debt. Journal of Financial Economics, 68, 263-285.
Beuselinck, C., Blanco, B., Juan, M. G. L. (2017). The role of foreign shareholders in disciplining financial reporting. Journal of Business Finance and Accounting.
Bradbury, M. E., Mak, Y. T., dan Tan, S. M. (2004). Board characteristics, audit committee characteristics and abnormal accruals. Working Paper. Unitec New Zealand and National University of Singapore.
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58, 81-112.
Dharwadkar, R., George, G., and Brandes, P. (2000). Privatization in emerging economies: An agency theory perspective. Academy of Management Review, 25, 3, 650-669.
Driffield, N., Mahambare, V., and Pal, S. (2007). How does ownership structure affect capital structure and firm performance? Recent Evidence from East Asia. Economics and Finance Discussion Paper, Brunel University, 06-23
Eisenhardt, K. (1989). Agency theory: An assessment and review. The Academy of Management Review, 14, 1, 57.
Fama, E. (1980). Agency problems and the theory of the firm. Journal of political economy, 88, 2, 288-307.
Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. Journal of law and Economics, 327-349.
Fanani, Ningsih, dan Hamidah. (2009). Faktor-faktor penentu kualitas pelaporan keuangan dan kepercayaan investor. Jurnal Akuntansi dan Keuangan Indonesia.
Fanani, Z. (2008). Kualitas pelaporan keuangan: Berbagai faktor penentu dan konsekuensi ekonomis. Jurnal Akuntansi dan Keuangan Indonesia, 6, 1.
Ghozali, I. (2012). Aplikasi Analisis Multivariate dengan Program IBM SPSS 20. Edisi 6. Semarang: Universitas Diponegoro.
Grougiou, V., Leventis, S., Dedoulis, E., Owusu-Ansah, S. (2014). Corporate social responsibility and earnings management in U.S. banks, Accounting Forum, 14, 0, 1-15.
Haruman, T. (2008). Pengaruh struktur kepemilikan terhadap keputusan keuangan dan nilai perusahaan. Simposium Nasional Akuntansi XI, Pontianak.
Iatridis, G. I. (2011). Accounting disclosure, accounting quality and conditional and conditional conservatism. International Review of Financial Analysis, 20, 88-102.
Ikatan Akuntansi Indonesia. (2015). Pernyataan Standar Akuntansi Keuangan (PSAK). Jakarta.
Jaggi, B., Leung, S and Gul, F. (2009). Family control, board independence and earnings management: Evidence based on Hongkong firms. Journal of International Accounting Public Policy, 28, 281-300.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360.
Jiang, L., & Kim, J. B. (2004). Foreign equity ownership and information asymmetry: Evidence from Japan. Journal of International Financial Management and Accounting, 15, 3.
Kieso, D. E., Weygandt, J. J., and Warfield, T. D. (2007). Intermediate Accounting 12th Edition FASB Update. Wisconsin: John Wiley & Sons.
Komite Nasional Kebijakan Governance. (2006). Pedoman umum good corporate governance Indonesia. Retrieved from http://www.ecgi.org/codes/documents/indonesia_cg_2006_id.pdf
Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. (2015). Audit committees and financial reporting quality in Singapore. School of Accountancy Research Paper Series. 3, 2.
La Porta, R., Lopez-De-Silances, F. and Shleifer, A. (April 1999). Corporate ownership around the world. The Journal of Finance, 471-517.
Leuz, C, D. Nanda, and P.D. Wysocky. (2003). Earnings management and institutional factors : An international comparison. Journal of Financial Economic, 69, 505-527.
Mangena, M., and V. Tauringana. (2007). Disclosure, corporate governance and foreign share ownership on The Zimbabwe Stock Exchange. Journal of International Financial Management and Accounting, 18, 2, 53-85.
Maury, B. (2006). Family ownership and firm performance: Empirical evidence from Western European corporations. Journal of Corporate Finance, 12, 321-341.
McDaniel, L., R.D. Martin, and L.A. Maines. (2002). Evaluating financial reporting quality: The effects of financial expertise vs financial literacy. The Accounting Review, Supplement: Quality of Earnings Conference, 77, 139-167.
Mutmainnah, N., dan Wardhani, R. (2013). Analisis dampak kualitas komite audit terhadap kualitas laporan keuangan perusahaan dengan kualitas audit sebagai variabel moderasi. Jurnal Akuntansi dan Keuangan, 10,2.
Nugrahani, T.S. (2014). Pengaruh dewan komisaris dan komite audit pada kualitas laporan keuangan. Jurnal Akuntansi dan Keuangan, 11, 2, 120-137.
PwC. (2014). Survey bisnis keluarga 2014, Indonesia. Retrieved from http://www.pwc.com/id/en/publications/assets/indonesia-report-family-business-survey-2014.pdf
Rainsbury, E.A., M. Bradbury, and S.F. Cahan. (2009). The Impact of audit comittee quality on financial reporting quality and audit fees. Journal of Contemporary Accounting & Economics, 5, 20-33.
Sharma, S., Durand, M., Richard, and Gur-Arie, O. (1981). Identification and analysis of moderator variables. Journal of Marketing Research, XVIII, 291-300.
Siallagan, H. dan Machfoedz, M. (2006). Mekanisme corporate governance, kualitas laba dan nilai perusahaan. Simposium Nasional Akuntansi IX, Padang, 23-26 Agustus.
Wang, D. (2006). Founding family ownership and earnings quality. Journal of Accounting Research, 44, 619–56.
Wang, F., Zhu, Z., and Hoffmire, J. (2015). Financial reporting quality, free cash flow, and investment efficiency. Shs Web of Conferences, 17,01027
Warsini, S. dan Rossieta, H. (2013). Pengaruh kepemilikan keluarga terhadap kinerja perusahaan dengan mempertimbangkan strategi bisnis sebagai variabel pemoderasi (Studi pada industri manufaktur perusahaan publik di Bursa Efek Indonesia). Simposium Nasional Akuntansi, XVI Manado, 4887-4913.
Yasser, Q.R., Mamun, A.A., and Hook, M. (2017). The Impact of ownership structure on financial reporting quality in the East. International Journal of Organizational Analysis, 25.
Anderson, R. C., Mansi,S.A., dan Reeb, D. M. (2003). Founding family ownership and the agency cost of debt. Journal of Financial Economics, 68, 263-285.
Beuselinck, C., Blanco, B., Juan, M. G. L. (2017). The role of foreign shareholders in disciplining financial reporting. Journal of Business Finance and Accounting.
Bradbury, M. E., Mak, Y. T., dan Tan, S. M. (2004). Board characteristics, audit committee characteristics and abnormal accruals. Working Paper. Unitec New Zealand and National University of Singapore.
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58, 81-112.
Dharwadkar, R., George, G., and Brandes, P. (2000). Privatization in emerging economies: An agency theory perspective. Academy of Management Review, 25, 3, 650-669.
Driffield, N., Mahambare, V., and Pal, S. (2007). How does ownership structure affect capital structure and firm performance? Recent Evidence from East Asia. Economics and Finance Discussion Paper, Brunel University, 06-23
Eisenhardt, K. (1989). Agency theory: An assessment and review. The Academy of Management Review, 14, 1, 57.
Fama, E. (1980). Agency problems and the theory of the firm. Journal of political economy, 88, 2, 288-307.
Fama, E. F., & Jensen, M. C. (1983). Agency problems and residual claims. Journal of law and Economics, 327-349.
Fanani, Ningsih, dan Hamidah. (2009). Faktor-faktor penentu kualitas pelaporan keuangan dan kepercayaan investor. Jurnal Akuntansi dan Keuangan Indonesia.
Fanani, Z. (2008). Kualitas pelaporan keuangan: Berbagai faktor penentu dan konsekuensi ekonomis. Jurnal Akuntansi dan Keuangan Indonesia, 6, 1.
Ghozali, I. (2012). Aplikasi Analisis Multivariate dengan Program IBM SPSS 20. Edisi 6. Semarang: Universitas Diponegoro.
Grougiou, V., Leventis, S., Dedoulis, E., Owusu-Ansah, S. (2014). Corporate social responsibility and earnings management in U.S. banks, Accounting Forum, 14, 0, 1-15.
Haruman, T. (2008). Pengaruh struktur kepemilikan terhadap keputusan keuangan dan nilai perusahaan. Simposium Nasional Akuntansi XI, Pontianak.
Iatridis, G. I. (2011). Accounting disclosure, accounting quality and conditional and conditional conservatism. International Review of Financial Analysis, 20, 88-102.
Ikatan Akuntansi Indonesia. (2015). Pernyataan Standar Akuntansi Keuangan (PSAK). Jakarta.
Jaggi, B., Leung, S and Gul, F. (2009). Family control, board independence and earnings management: Evidence based on Hongkong firms. Journal of International Accounting Public Policy, 28, 281-300.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305-360.
Jiang, L., & Kim, J. B. (2004). Foreign equity ownership and information asymmetry: Evidence from Japan. Journal of International Financial Management and Accounting, 15, 3.
Kieso, D. E., Weygandt, J. J., and Warfield, T. D. (2007). Intermediate Accounting 12th Edition FASB Update. Wisconsin: John Wiley & Sons.
Komite Nasional Kebijakan Governance. (2006). Pedoman umum good corporate governance Indonesia. Retrieved from http://www.ecgi.org/codes/documents/indonesia_cg_2006_id.pdf
Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. (2015). Audit committees and financial reporting quality in Singapore. School of Accountancy Research Paper Series. 3, 2.
La Porta, R., Lopez-De-Silances, F. and Shleifer, A. (April 1999). Corporate ownership around the world. The Journal of Finance, 471-517.
Leuz, C, D. Nanda, and P.D. Wysocky. (2003). Earnings management and institutional factors : An international comparison. Journal of Financial Economic, 69, 505-527.
Mangena, M., and V. Tauringana. (2007). Disclosure, corporate governance and foreign share ownership on The Zimbabwe Stock Exchange. Journal of International Financial Management and Accounting, 18, 2, 53-85.
Maury, B. (2006). Family ownership and firm performance: Empirical evidence from Western European corporations. Journal of Corporate Finance, 12, 321-341.
McDaniel, L., R.D. Martin, and L.A. Maines. (2002). Evaluating financial reporting quality: The effects of financial expertise vs financial literacy. The Accounting Review, Supplement: Quality of Earnings Conference, 77, 139-167.
Mutmainnah, N., dan Wardhani, R. (2013). Analisis dampak kualitas komite audit terhadap kualitas laporan keuangan perusahaan dengan kualitas audit sebagai variabel moderasi. Jurnal Akuntansi dan Keuangan, 10,2.
Nugrahani, T.S. (2014). Pengaruh dewan komisaris dan komite audit pada kualitas laporan keuangan. Jurnal Akuntansi dan Keuangan, 11, 2, 120-137.
PwC. (2014). Survey bisnis keluarga 2014, Indonesia. Retrieved from http://www.pwc.com/id/en/publications/assets/indonesia-report-family-business-survey-2014.pdf
Rainsbury, E.A., M. Bradbury, and S.F. Cahan. (2009). The Impact of audit comittee quality on financial reporting quality and audit fees. Journal of Contemporary Accounting & Economics, 5, 20-33.
Sharma, S., Durand, M., Richard, and Gur-Arie, O. (1981). Identification and analysis of moderator variables. Journal of Marketing Research, XVIII, 291-300.
Siallagan, H. dan Machfoedz, M. (2006). Mekanisme corporate governance, kualitas laba dan nilai perusahaan. Simposium Nasional Akuntansi IX, Padang, 23-26 Agustus.
Wang, D. (2006). Founding family ownership and earnings quality. Journal of Accounting Research, 44, 619–56.
Wang, F., Zhu, Z., and Hoffmire, J. (2015). Financial reporting quality, free cash flow, and investment efficiency. Shs Web of Conferences, 17,01027
Warsini, S. dan Rossieta, H. (2013). Pengaruh kepemilikan keluarga terhadap kinerja perusahaan dengan mempertimbangkan strategi bisnis sebagai variabel pemoderasi (Studi pada industri manufaktur perusahaan publik di Bursa Efek Indonesia). Simposium Nasional Akuntansi, XVI Manado, 4887-4913.
Yasser, Q.R., Mamun, A.A., and Hook, M. (2017). The Impact of ownership structure on financial reporting quality in the East. International Journal of Organizational Analysis, 25.
Downloads
Published
2017-10-01
How to Cite
Gautama, E., Daromes, F. E., & Ng, S. (2017). PERAN MODERASI KOMPETENSI KOMITE AUDIT PADA HUBUNGAN ANTARA STRUKTUR KEPEMILIKAN DAN KUALITAS PELAPORAN KEUANGAN. Jurnal Akuntansi, 11(1), 68–98. https://doi.org/10.25170/jara.v11i1.53
Issue
Section
Articles
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgment 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 acknowledgment 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.
