Anteseden Dan Konsekuensi Audit Delay Pada Perusahaan Perbankan Perioda 2011-2014
DOI:
https://doi.org/10.24914/jeb.v19i2.555Keywords:
determinants of audit delay, audit switching, audit qualityAbstract
Timeliness in financial reporting can contribute to efficient performance for the stock market because it can reduce the asymmetry information, mitigate insider trading, and improve the usefulness decision of information to stakeholders. There were inconsistencies in prior research and the case of delay submission on issuer financial statements to the Financial Service Authority. There were 30 cases for each in 2013 and 2014. This study aimed to examine (1) the negative impact between the company size, profitability, leverage, and the auditor quality on audit delay; (2) the positive impact of audit delay on audit switching; and (3) the positive impact of audit delay and audit delay switching on audit quality in banking companies listed on the Stock Exchange 2011-2014 period. A purposive sampling method is used and as the sample, 30 companies are obtained in four years so the analyzed data was based on 120 observations. The data analysis technique used is multiple linear and logistic regression. Results showed that (1) the size of the company and leverage have no impact on audit delay, while the return on assets and the auditor quality have a negative impact and significantly related to audit delay; (2) audit delay has a positive impact and significantly related to audit switching; (3) audit delay has a positive impact and significantly related to audit quality, while audit switching has no impact on audit quality. This study has contributed in optimizing timeliness performance of financial information reporting, effectiveness and efficiency of audit time range so that general information increased, and The implication for audit quality of financial statements become more reliable.Downloads
References
Abdulla, J. Y. A. 1996. The timeliness of Bahraini annual reports. Advances in International Accounting. Vol.9: 73–88.
Ahmad, R., dan K. Kamarudin. 2003. Audit delay and the timeliness of corporate reporting: Malaysian evidence. In: Communication Hawaii International Conference on Business, Hawai, USA 18-21 June 2003.
Ahmed, K. 2003. A comparative study of timeliness of corporate financial reporting in South-Asia. Advances in International Accounting. Vol.16: 17-42.
Aljabr, Y. 2007. Existed in Almosa, A. S., dan M. Alabbas. 2007. Audit delay: Evidence from listed joint stock companies in Saudi Arabia. King Khalid University, Abha, Saudi Arabia. Available at kku.sa/conference/SSEFP/Presentations.
Al-Ajmi, J. 2008. Audit and reporting delays: Evidence from an emerging market. Advances in Accounting. Vol.24 No.2: 217-226.
Al-Ganem, W., dan M. Hegazy. 2011. An empirical analysis of audit delays and timeliness of corporate financial reporting in Kuwait. Eurasian Business Review. Vol.1: 73-90.
Almosa, A. S., dan M. Alabbas. 2007. Audit delay: Evidence from listed joint stock companies in Saudi Arabia. King Khalid University, Abha, Saudi Arabia. Available at kku.sa/conference/SSEFP/Presentations.
American Institute of Certified Public Accountants (AICPA). 1992. Statement of Position: Regarding Mandatory Rotation of Audit Firms of Publicly Held Companies.
Ashton, R. H., P. R. Graul, dan J. D. Newton. 1989. Audit delay and the timeliness of corporate reporting. Contemporary Accounting Research. Vol.5 No.2: 657−673
Ayemere, I. L., dan A. Elijah. 2015. Corporate attributes and audit delay in emerging markets: Empirical from Nigeria. International Journal of Business and Social Research. Vol.5 No.3.
Bamber, E. M., L. S. Bamber, dan M. P. Schoderbek. 1993. Audit structure and other determinants of audit report lag: An empirical analysis. Auditing: A Journal of Practice and Theory. Vol.12 No.1: 1-23.
Bursa Efek Indonesia. 2014. Penyampaian Laporan Keuangan Auditan Untuk Periode Yang Berakhir Per 31 Desember 2013. Retrieved Juli 31 2015 from Pengumuman Bursa Efek Indonesia. Available at http://www.idx.co.id.
Bursa Efek Indonesia. 2015. Penyampaian Laporan Keuangan Auditan Untuk Periode Yang Berakhir Per 31 Desember 2014. Retrieved Juli 31 2015 from Pengumuman Bursa Efek Indonesia. Available at http://www.idx.co.id.
Cameran, M., A. Prencipe dan M. Trombetta. 2010. Does mandatory auditor rotation really improve audit quality?. Bocconi University Milan Italy and Institute de Empresa Business School, Spain.
Carey, P., dan R. Simnett. 2006. Audit partner tenure and audit quality. The Accounting Review. Vol.81.
Carslaw, A. P. N., dan S. E. Kaplan. 1991. An examination of audit delay: Further evidence from New Zealand. Accounting and Business Research. Vol.22 No.85: 21−32.
Chadegani, A. A., Z. M. Mohamed, dan A. Jari. 2011. The determinant factors of auditor switch among companies listed on tehran stock exchange. International Research Journal of Finance and Economics.
Che-Ahmad, A., dan S. Abidin. 2008. Audit delay of listed companies: A case of Malaysia. International Business Research. Vol.1 No.4: 32-39.
Chung, H. 2004. Selective mandatory auditor rotation and audit quality: An empirical investigation of auditor designation policy in Korea. Working paper (October).
Courtis, J. K. 1976. Relationships between timeliness in corporate reporting and corporate attributes. Accounting and Business Research. Vol.6 No.25: 45−56.
Davis, B., dan G. P. Whittred. 1980. The association between selected corporate attributes and timeliness in corporate reporting: Further analysis. Abacus. Vol.16 No.1: 48−60.
DeAngelo, L. 1981. Auditor size and audit quality. Journal of Accounting and Economics. Vol.3 No.3: 183-199.
Deloof, M., dan V. Weet. 2003. External financing, information disclosure and the timeliness of annual shareholder meetings and financial filings in Belgium. Deloitte & Touche Belgium.
Dopuch, N., R. R. King, dan R. Schwartz. 2001. An experimental investigation of retention and rotation requirements. Journal of Accounting Research. Vol.39: 93–117.
Dyer, J. C., dan A. J. McHugh. 1975. The timeliness of the Australian annual report. Journal of Accounting Research. (Autumn): 204-220.
Enofe, O. A., O. O. Ediae, dan C. E. Okunega. 2013. Audit delay and audit quality: The Nigerian experiance. Research Journal of Science and Management. Vol.3 No.4.
Fagbemi., T. O., dan O. M. Uadiale. 2011. An appraisal of the determinants of timeliness of audit report in Nigeria: Evidence From Selected Quoted Companies. The New Orleans International Academic Conference New Orleans, Louisiana USA.
Fairchild, R. 2008. Does audit tenure lead to more fraud? A game theoretic approach. Available at http//papers.ssrn.com.
Freeman, R. E. 1994. The politics of stakeholder theory: Some future directions. Business Ethics Quarterly. Vol.4: 409-421.
Garsombke, H. P. 1981. The timeliness of corporate financial disclosure. In J. K. Courtis, Communication via Annual Reports, AFM Exploratory Series No.11 Armidale, N.S.W: University of New England: 204-218.
Gilling, D. M. 1977. The timeliness in corporate reporting: Some further comment. Accounting and Business Research. (Winter): 34-36.
Givoly, D., dan D. Palmon. 1982. Timeliness of annual earnings announcements: Some Empirical evidence. Accounting Review. Vol.57 No.3: 486−508.
Gujarati, D. 2003. Ekonometrika Dasar: Edisi Keenam. Jakarta: Erlangga.
Hamilton, J., C. Ruddock, D. Stokes, dan S. Taylor. 2005. Audit partner rotation, earnings quality and earnings conservatism. Working paper. available at http://papers.ssrn.com.
Healy, T., dan Y. Kim. 2003. The benefits of mandatory auditor rotation. Regulation. Vol.26 No.3: 10-11.
Hossain, M. A., dan P. J. Taylor. 1998. An examination of audit delay: Evidence from Pakistan. Working Paper. University of Manchester.
Ibadin, I. M., F. I. O. Izedonmi, dan P. O. Ibadin. 2012. The association between selected corporate attributes, company attributes and timeliness of financial reporting in Nigeria. Research Journal of Finance and Accounting. Vol.3 No.9.
Imam, S., Z. U. Ahmed, dan S. H. Khan. 2001. Association of audit delay and audit firms' international links: Evidence from Bangladesh. Managerial Auditing Journal. Vol.16 No.3: 129−134.
Ismail, K. N. I., dan R. Chandler. 2003. The timeliness of quarterly financial reports of companies in Malaysia.
Jaggi, B., dan J. Tsui. 1999. Determinants of audit lag: Further evidence from Hong Kong. Accounting and Business Research. Vol.30 No.1: 17-28.
Jensen, M. C., dan W. H. Meckling. 1976. Theory of the Firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics. Vol.3 No.4 (October): 305- 360.
Kartika, A. 2011. Faktor-faktor yang mempengaruhi audit delay pada perusahaan manufaktur yang terdaftar di BEI. Jurnal Dinamika Keuangan dan Perbankan. Vol.3 No.2 (Nopember): 152-171.
Lampiran Keputusan Ketua Bapepam Nomor: KEP-36/PM/2003. Available at www.bapepam.go.id.
Leventis, S., P. Weetman, dan C. Caramanis. 2005. Determinants of audit report lag: Some evidence from the Athens Stock Exchange. International Journal of Auditing. Vol.9 No.1: 45-58.
Mgbame, C. O., E. Eragbhe, dan N. P. Osazuwa. 2012. Audit partner tenure and audit quality: An empirical analysis. European Journal of Business and Management. Vol.4 No.7.
Nasser, A. T. A., E. A. Wahid, S. M. Nazri, dan M. Hudaib. . 2006. Auditor-client relationship: The case of audit tenure and auditor switching in Malaysia. Managerial Auditing Journal. Vol.21 No.7: 724-737.
Newton, J. D., dan R. H. Ashton. 1989. The association between audit technology and audit delay. Auditing: A Journal of Practice and Theory: 22-37.
Ng, P. P., dan B. Y. K. Tai. 1994. An empirical examination of the determinants of audit delay in Hong Kong. British Accounting Review. Vol.26 No.1: 43-59.
Owusu-Ansah, S. 2000. Timeliness of corporate financial reporting in emerging capital markets: Empirical evidence from the Zimbabwe Stock Exchange. Accounting and Business Research. Vol.30 No.3: 241−254.
Prabowo, P. P. T., dan Marsono. 2013. Faktor-faktor yang mempengaruhi audit delay. Diponegoro Journal of Accounting. Vol.2 No.1: 1.
Santoso, S. 2010. Statistik Multivariat Konsep dan Aplikasi dengan SPSS. Jakarta: PT Elex Media Komputindo.
Schwartz, K. B., dan B. S. Soo. 1986. The assosiation between audit changes and reporting lags. Contemporary Accounting Research. Vol.13: 353-370.
Siegel, P. H., M. Naser, dan J. O’Shaughnessy. 2008. Factors influencing auditor switching in the European Union, Florida Atlantic University. Available at http://intellectbase.org.
Stocken, M. E. 2000. Auditor conservatism and opinion shopping: Influence of client switching expectations on audit opinion decision. Dissertation. Unpublished.
Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal.
Vuko, T., dan M. Cular. 2014. Finding determinants of audit delay by pooled OLS regression analysis. Croatian Operational Research Review: 81-91.
Watkins, A. L., W. Hillison, dan S. E. Morecroft. 2004. Audit quality: A synthesis of theory and empirical evidence. Journal of Accounting Literature. Vol.23: 153-193.
Yazawa, K. 2011. Does audit partner rotation enhance audit quality? Evidence From Japan.
Downloads
Published
How to Cite
Issue
Section
License
Jurnal Ekonomi dan Bisnis is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License
