The effect of the fraud hexagon on Financial statement fraud in the finance sector companies Listed on the indonesian stock exchange from 2020 -2023

  • Bertha Elvy Napitupulu Universitas Audi Indonesia
  • Muhammad Diva Sekolah Tinggi Ilmu Ekonomi Jayakarta, Jakarta
  • Oktavia Marpaung Sekolah Tinggi Ilmu Ekonomi Jayakarta, Jakarta
  • Frisca L. Siagian Sekolah Tinggi Ilmu Ekonomi Jayakarta, Jakarta
  • Rudy Hedianton Saragih Sekolah Tinggi Ilmu Ekonomi Jayakarta, Jakarta
  • Luky Yunia Wennadi Universitas Katolik Indonesia Atma Jaya, Jakarta, Indonesia
DOI: https://doi.org/10.52362/ijiems.v5i2.2567

Abstract

Financial statements are documents that present a company’s financial information and serve as the basis for evaluating the company’s performance and financial stability. Financial statements contain information regarding the company’s management performance and reflect the company’s condition over a given business period. Every company strives to produce financial statements that are accurate, relevant, and reliable so as to demonstrate that its operations are running smoothly. Fraud is committed to manipulate financial statements so that they appear sound, relevant, and reliable. Financial statement fraud can be caused by various factors. Theories regarding the causes of financial statement fraud have evolved from the fraud triangle, fraud diamond, fraud pentagon, and fraud hexagon, where the factors are pressure, opportunity, rationalization, capability, arrogance, and collusion. This study aims to analyze the influence of the fraud hexagon—comprising pressure, opportunity, rationalization, capability, arrogance, and collusion—on financial statement fraud in financing sector companies listed on the Indonesia Stock Exchange during the 2020–2023 period. The results of the study indicate that none of the factors in the fraud hexagon had an effect on financial statement fraud at financing sector companies listed on the Indonesia Stock Exchange during the 2020–2023 period.

Author Biographies

Bertha Elvy Napitupulu, Universitas Audi Indonesia

Scopus id (Bertha Elvy Napitupulu) : https://www.scopus.com/authid/detail.uri?authorId=57446570200

Oktavia Marpaung, Sekolah Tinggi Ilmu Ekonomi Jayakarta, Jakarta

Scopus id (Oktavia Marpaung) : https://www.scopus.com/authid/detail.uri?authorId=58965438800

References

[1] K S Sihombing and R. S N, “Analisis Fraud Diamond Dalam Mendeteksi Financial Statement Fraud: Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di BEI tahun 2010-2012,” J. Akunt., 2014, [Online]. Available: https://ejournal3.undip.ac.id/index.php/accounting/article/view/6136
[2] C. Skousen, K. Smith, and C. Wright, “Detecting and Predicting Financial Statement Fraud: The Effectiveness of Fraud Triangle and SAS no 99,” Corp. Gov. Firm Perform. (Advances Financ. Econ., vol. 13, pp. 53–81, 2009.
[3] Aprilia, “Analisis Pengaruh Fraud Pentagon Terhadap Kecurangan Laporan Keuangan Menggunakan Beneish Model Pada Perusahaan yang Menerapkan ASEAN Corporate Governance Scorecard,” Akunt. Ris., vol. 9, no. 1, pp. 101–132, 2017, doi: https://doi.org/10.17509/jasetv9i1.5259.
[4] D. T. Wolfe and D. R. Hermanson, “The Fraud Diamond Considering The Four Elements of Fraud,” CPA J., vol. 74, no. 12, pp. 38–42, 2004.
[5] C. Howard, “The Fraud Pentagon : Considering The Five Elements of Fraud,” CPA J., 2011.
[6] G. C. Tessa and P. Harto, “Fraudulent Financial Reporting : Pengujian Teori Fraud Pentagon pada Sektor Keuangan dan Perbankan di Indonesia,” in Simposium Nasional Akuntansi XIX, 2016, pp. 1–21.
[7] S. P. Sari and N. K. Nugroho, “Financial Statement Fraud Dengan Pendekatan Vousinas Fraud Hexagon Model: Tinjauan pada Perusahaan Terbuka di Indonesia,” IHTIFAZ Islam. Econ. Financ. Bank., pp. 409–430, 2020.
[8] I. A. P. Indonesia, “Tanggung jawab Auditor Terkait Dengan Kecurangan Dalam Suatu Audit Atas Laporan Keuangan,” Jakarta, 2022.
[9] ACFE, “Fraudulent Financial Statement,” 2019.
[10] A. Mulya, D. N. Rahmatika, and M. D. Kartikasari, “Pengaruh Fraud Pentagon (Pressure, Opportunity, Rasionalization, Competance dan Arrogance) Terhadap Pendeteksian Fraudulent Financial Pada Perusahaan Property, Real Estate and Building Constuction yang Terdaftar di Bursa Efek Indonesia,” Permana J. Perpajak. Manaj. dan Akunt., vol. 1, no. 11, pp. 11–25, 2019.
[11] N. C. Situngkir and D. N. Triyanto, “Detecting Fraudulent Financial Reporting Using Fraud Score Model and Fraud Pentagon Theory : Empical Study of Companies Listed in the LQ 45 Index,” Indones. J. Account. Res., vol. 23, no. 3, 2020.
Published
2026-07-29
How to Cite
NAPITUPULU, Bertha Elvy et al. The effect of the fraud hexagon on Financial statement fraud in the finance sector companies Listed on the indonesian stock exchange from 2020 -2023. International Journal of Informatics, Economics, Management and Science, [S.l.], v. 5, n. 2, p. 148-164, july 2026. ISSN 2809-8471. Available at: <https://journal.stmikjayakarta.ac.id/index.php/ijiems/article/view/2567>. Date accessed: 03 aug. 2026. doi: https://doi.org/10.52362/ijiems.v5i2.2567.
Citation Formats
Issue
Vol 5 No 2 (2026): IJIEMS (August 2026)
Section
Articles
Creative Commons License

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

Most read articles by the same author(s)

Obs.: This plugin requires at least one statistics/report plugin to be enabled. If your statistics plugins provide more than one metric then please also select a main metric on the admin's site settings page and/or on the journal manager's settings pages.