The Effect of Fraud Hexagon and Earnings Management on Financial Statement Fraud in Pharmaceutical and Cosmetic Companies Listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 Period

Authors

  • Annisa Fitri Anggraeni Universitas Winaya Mukti, Bandung, Indonesia
  • Sena Fairuz Universitas Winaya Mukti, Bandung, Indonesia

DOI:

https://doi.org/10.38035/dar.v2i4.3173

Keywords:

Beneish M-Score, Earnings Management, Financial Statement Fraud, Fraud Hexagon, Jones Model

Abstract

This study aims to analyze the effect of Fraud Hexagon and Earnings Management on Financial Statement Fraud in pharmaceutical and beauty sector companies listed on the Indonesia Stock Exchange for the 2022–2024 period. Fraud Hexagon consists of six variables, namely stimulus, capability, opportunity, rationalization, arrogancy, and collusion. In this study, stimulus is proxied by financial targets, capability is proxied by changes in directors, opportunity is proxied by nature of industry, rationalization is proxied by auditor changes, arrogancy is proxied by calculating the number of CEO pictures, and collusion is proxied by cooperation with the government, while Earnings Management uses the Jones model. The sampling technique used is purposive sampling, resulting in 14 companies as the research sample. The data analysis method used in this study is logistic regression analysis using IBM SPSS 26 software. The results show that the variables financial targets, changes in directors, auditor changes, the number of CEO pictures, and cooperation with the government do not affect financial statement fraud, while nature of industry and Earnings Management have a positive effect on financial statement fraud. Based on these results, it can be concluded that only nature of industry and Earnings Management influence the tendency of financial statement fraud, while the other variables do not show any effect. Future research is recommended to expand the research object, add other variables related to financial statement fraud, and use other detection methods such as the F-Score.

References

ACFE 2024. Occupational Fraud 2022: A Report To The Nations. Association of Certified Fraud Examiners, 1–96.

Ainiyah, L. N., & Effendi, D. (2021). Pengaruh Hexagon Fraud Theory Dalam Mendeteksi Kecurangan Laporan Keuangan (Studi Perusahaan Manufak-Tur Sub Sektor Food and Bavarage Yang Terdaftar Di Bursa Efek Indonesia 2016-2020). Jurnal Ilmu Dan Riset Akuntansi, 11(10), 21.

Annisa, R. A., & Ghozali, I. (2020). Pendeteksian Kecurangan Laporan Keuangan Menggunakan Analisis Beneish M-Score pada Perusahaan Non Keuangan yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2018. Diponegoro Journal Of Accouting, 9(3), 1–12. http://ejournal-s1.undip.ac.id/index.php/accounting

Boermawan, G., & Arfianti, R. I. (2022). Pengaruh Fraud Triangle Terhadap Kecurangan Pelaporan Keuangan Dengan Beneish M-Score Model. Journal of Applied Managerial Accounting, 6(2), 173–186. https://doi.org/10.30871/jama.v6i2.4009

Fiqriansyah, R., Amandayu, I., Br Tarigan, K., & Orchidia, W. (2024). Manajemen Laba dengan Pendekatan Model Jones. Jurnal Akuntansi Dan Keuangan West Science, 3(01), 39–46. https://doi.org/10.58812/jakws.v3i01.910

Ginting & Daljono. (2023). Analisis Pengaruh Fraud Hexagon Terhadap Fraudulent Financial Reporting Menggunakan Metode Beneish M-Score. Diponegoro Journal of Accounting, 12(3), 1–15. http://ejournal-s1.undip.ac.id/index.php/accounting

Ghozali, I. (2018), Aplikasi Analisis Multivariate Dengan Program Ibm SPSS 25. Universitas Diponogoro.

Hardani, S.Pd., M. S., M.S. Nur Hikmatul Auliya, Grad.Cert.Biotech Helmina Andriani, Apt Roushandy Asri Fardani, S.Si., M.Pd Jumari Ustiawaty, S.Si., M.Si Evi Fatmi Utami, M.Farm., and M. I Ko. Dhika Juliana Sukmana, S.Si., M.Sc Ria Rahmatul Istiqomah. 2020. Buku Metode Penelitian Kualitatif. Vol.6.

Hilbe, Joseph M. 2017. Testing and Fitting a Logistic Model.

Handoko, & D I. (2021). FRAUD HEXAGON DALAM MENDETEKSI FINANCIAL STATEMENT FRAUD. 5(2), 176–192.

Hardani, Helmina Andriani, J. U., Utami, E. F., Istiqomah, R. R., Fardani, R. A., Sukmana, D. J., & Auliya, N. H. (2020). Buku Metode Penelitian Kualitatif. In Revista Brasileira de Linguística Aplicada (Vol. 5, Issue 1).

Ima Mukaromah, & Gideon Setyo Budiwitjaksono. (2021). Fraud Hexagon Theory dalam Mendeteksi Kecurangan Laporan Keuangan pada Perbankan yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2019. Jurnal Ilmiah Komputerisasi Akuntansi, 14(1), 61–72. http://journal.stekom.ac.id/index.php/kompakpage61

Kleinbaum, David G., and Mitchel Klein. 2010. Statistics for Biology and Health: Logistical Regression.

Mainita Hidayati, S.Sos.,M. ,,.CA Dr. Annisa Fitri Anggraeni, SE.,MM.,CIISA Dr. Tiolina Evi, SE., Ak., MM., M. A. Dr. Zara Tania Rahmadi, SE., M. Ak., BKP Dr. Marselinus Asri, SE., M.Si., Ak Zesmi Kusmila, SE., M.S. Nurapni Jmi Putri, S.E., M. Ak Siti Zuhroh, SE., M.S. Dra. Caecilia Sri Haryanti, SE., M.Si., CA Emi Kusmawati, S.E., M.S. Dr. Ernawaty Usman, S.E., M.Si, Ak., CA Dr. Jamaluddin, S.E., M.Si., Ak., and M.S. Sunarmin, SE.,M.Ak.,CA., Asean CPA Dr. Muh. Ilham Pakawaru, SE. 2023, TEORI AKUNTANSI (Pengantar Dan Penerapan Konsep-Konsep Akuntansi).

Maharani, F. (2024). Analisis Efektivitas Distribusi Zakat terhadap Pemberdayaan Mustahik LAZNAS Wahdah Inspirasi Zakat. Akrual: Jurnal Bisnis Dan Akuntansi Kontemporer, 47–61. https://doi.org/10.26487/akrual.v17i01.28407

Miftahul Jannah, V., & Rasuli, M. (2021). Pendekatan Vousinas Fraud Hexagon Model dalam Mendeteksi Kecurangan Pelaporan Keuangan. Studi Akuntansi Dan Keuangan Indonesia, 4(1).

Munawarah, I., & Fadillah, M. K. (2024). Monotoring, Auditor Change, Change in Director, Ceo Duality, Dan Political Connection (Persepsi Fraud Hexagon) Terhadap Fraudulent Financial Reporting Pt. Garuda Indonesia (Persero) Tbk. Yang Terdaftar Di Bursa Efek Indonesia Periode 2018-2022. Jurnal GICI Jurnal Keuangan Dan Bisnis, 16(1), 74–81. https://doi.org/10.58890/jkb.v16i1.266

Murnandes, M., & Budyastuti, T. (2025). Analisis Fraud Pentagon Dalam Mendeteksi Financial Statement Fraud. Gorontalo Accounting Journal, 8(1), 205. https://doi.org/10.32662/gaj.v8i1.4065

Natalia, T. M., Luhgiatno, L., & Mohklas, M. (2021). Pengaruh Fraud Pentagon Terhadap Kecurangan Laporan Keuangan. Jurnal Ilmu Manajemen Dan Akuntansi Terapan (JIMAT), 12(2), 163–174. https://doi.org/10.36694/jimat.v12i2.337

Novarina, D., & Triyanto, D. N. (2022). Pengaruh Fraud Hexagon Terhadap Kecurangan Laporan Keuangan Pada Perusahaan LQ 45 Yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020. Jurnal Akuntansi Dan Keuangan, 10(2), 183. https://doi.org/10.29103/jak.v10i2.7352

Nurlaelah, N., & Nurlaelah, E. (2022). Pengaruh Kualitas Audit Dan Kondisi Keuangan Terhadap Opini Audit Going Concer Pada Perusahaan Manufaktur Sektor Industri Dasar Dan Kimia. Jurnal Studia Akuntansi Dan Bisnis (The Indonesian Journal of Management & Accounting), 10(2), 91–98. https://doi.org/10.55171/jsab.v10i2.764

Octaviana, N. (2022). ANALISIS ELEMEN-ELEMEN FRAUD HEXAGON THEORY SEBAGAI DETERMINAN FRAUDULENT FINANCIAL REPORTING. Jurnal Akuntansi, 11(2), 106–121. https://doi.org/10.46806/ja.v11i2.895

Purnama, M. D., & Sofro, A. (2024). Pemodelan Faktor-Faktor Yang Mempengaruhi Indeks Pembangunan Manusia Jawa Timur Dengan Regresi Logistik Ordinal. MATHunesa: Jurnal Ilmiah Matematika, 12(3), 654–661. https://doi.org/10.26740/mathunesa.v12n3.p654-661

Roflin Eddy., Freza Riana., Ensiwi Munarsih Priyaan., & Iche Danriyani Liberty. 2023. Regresi Logistik Biner dan Multinominal. Pekalongan: PT Nasya Memperluas Manajemen.

Rahmawati, A., & Dita Pramesty, A. (2024). Financial Sustainability: The Effect Of Fraud Triangle On Financial Statement Fraud. Dinasti International Journal of Economics, Finance & Accounting, 5(5), 5357–5371. https://doi.org/10.38035/dijefa.v5i5.3616

Riduan, V. V., & Arif, A. (2024). Pengaruh Financial Stability,Ineffective Monitoring,Change In Auditor,Perubahan Direksi Dan Komite Audit Terhadap Financial Statement Fraud Pada Perusahaan Perbankan. Jurnal Ilmiah Wahana Pendidikan, 10(22), 1292–1309.

Rizki, S. H., Wahyudi, S., & Hakim, L. (2025). The Role of Anti-Fraud Policies in Moderating the Influence of the Fraud Hexagon on Financial Statement Fraud at Islamic Commercial Banks in Indonesia. 05(03), 3592–3603.

Rizkiawan, M. (2021). Analisis Fraud Hexagon dan Tata Kelola Perusahaan Atas Adanya Kecurangan dalam Laporan Keuangan. Integritas: Jurnal Antikorupsi, 8(2), 269–282.

Safriliana, R., & Ramadhan, Y. K. (2025). Financial Statement Fraud: Determinant of Hexagon Fraud Theory with Audit Committee as a Moderating Variable. Return : Study of Management, Economic and Bussines, 4(8), 618–632. https://doi.org/10.57096/return.v4i8.396

Septiana, A., & Zulkifli. (2024). Jurnal Riset Akuntansi dan Bisnis Jurnal Riset Akuntansi dan Bisnis. Jurnal Riset Akuntansi Dan Bisnis, 18(2), 140–152.

Siti Nur Adillah, Cici Putri Ardyanti, & Nurlaila Nurlaila. (2023). Implementasi Teori Akuntansi Dalam Perumusan Standar Akuntansi Pelaporan Keuangan. Jurnal Riset Akuntansi, 1(2), 199–211. https://doi.org/10.54066/jura-itb.v1i2.525

Sugiarti, R. (2024). Fraud Hexagon Theory Dalam Mendeteksi Fraudulent Financial Statement. JABE (Journal of Applied Business and Economic), 10(3), 295. https://doi.org/10.30998/jabe.v10i3.23312

Sukmajati, D., & Rani, P. (2025). Pengaruh Fraud Hexagon Terhadap Pendeteksian Kecurangan Laporan Keuangan (Studi Empiris Pada Perusahaan Sektor Energi Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2023). Jurnal Review Pendidikan Dan Pengajaran, 8(2), 3867–3874. https://doi.org/10.31004/jrpp.v8i2.44301

Syurmita, S., Nisa, I. S., & Syafei, A. W. (2024). Analisis Pengaruh Teori Fraud Hexagon dalam Mendeteksi Kecurangan Pelaporan Keuangan. Jurnal Al Azhar Indonesia Seri Ilmu Sosial, 5(1), 41. https://doi.org/10.36722/jaiss.v5i1.2710

Sugiyono.2020. Metodelogi Penelitian Kuantitatif. Kualitatif Dan R & D.

Tasya Kamila, F., & Aina Zahra Parinduri. (2023). PENGARUH FRAUD HEXAGON TERHADAP FRAUDULENT FINANCIAL REPORTING DENGAN KOMITE AUDIT SEBAGAI VARIABEL MODERASI. Jurnal Ekonomi Trisakti, 3(1), 1407–1416. https://doi.org/10.25105/jet.v3i1.16090

Triyani, N., Yusrianti, H., & Thamrin, K. (2024). Collusion, Arrogance, and Pressure on Fraudulent Financial Statements: The Role of Income Tax Rate (Evidence from Indonesia). International Journal of Economic Behavior and Organization, 12(3), 114–122. https://doi.org/10.11648/j.ijebo.20241203.11

Winata, L. A., Suhartono, S., & Dema, Y. (2024). Evaluating the impact of hexagon fraud on potential financial statement fraud with audit quality as a moderator. Jurnal Ekonomi Perusahaan, 31(1), 84–106. https://doi.org/10.46806/jep.v31i1.1157

Wulandari. (2022). PENGARUH DIMENSI FRAUD HEXAGON PENDAHULUAN Fraud telah berkembang dan dengan bentuk yang beragam ( Shonhadji dan Maulidi , 2021 ) , Association of Certified Fraud Examiners / ACFE ( 2020 ) menyebutkan bahwa dari hasil survey yang mereka lakukan dan dilapo. 6(2), 211–228.

Yulianti, Y., Sari, R. N., & Santoso, A. (2024). Financial Statement Fraud Detection: The Hexagon Fraud Model Approach. Atestasi : Jurnal Ilmiah Akuntansi, 7(1), 674–686. https://doi.org/10.57178/atestasi.v7i1.856

Downloads

Published

2026-04-19

How to Cite

Anggraeni, A. F., & Fairuz, S. (2026). The Effect of Fraud Hexagon and Earnings Management on Financial Statement Fraud in Pharmaceutical and Cosmetic Companies Listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 Period. Dinasti Accounting Review, 2(4), 215–233. https://doi.org/10.38035/dar.v2i4.3173

Issue

Vol. 2 No. 4 (2025): Dinasti Accounting Review (April - June 2025)

Section

Articles

License

Copyright (c) 2026 Annisa Fitri Anggraeni, Sena Fairuz

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright :

Authors who publish their manuscripts in this journal agree to the following conditions:

  1. Copyright in each article belongs to the author.
  2. The author acknowledges that the DAR has the right to be the first to publish under a Creative Commons Attribution 4.0 International license (Attribution 4.0 International CC BY 4.0).
  3. Authors can submit articles separately, arrange the non-exclusive distribution of manuscripts that have been published in this journal to other versions (for example, sent to the author's institutional repository, publication in a book, etc.), by acknowledging that the manuscript has been published for the first time at DAR.