Main Content
Lembaga Kita Journal Portal

Abstract

This study investigates the influence of Corporate Social Responsibility (CSR) and financial targets on financial statement fraud, with the Audit Committee acting as a moderating variable in energy companies listed on the Indonesia Stock Exchange from 2020 to 2024. The energy sector is particularly noteworthy due to its susceptibility to fraud, driven by operational complexities, substantial transaction values, and the pressures associated with financial performance targets. Utilizing a quantitative approach, the research employs causal design through panel data regression analysis. The sample comprises energy companies selected based on purposive sampling criteria during the observation period. Data is sourced from annual reports and sustainability disclosures accessible via the Indonesia Stock Exchange and the companies' official websites. Financial statement fraud is quantified using the Beneish M-Score, while CSR disclosure is evaluated through the Corporate Social Responsibility Index (CSRI). Financial targets are assessed using the Debt to Asset Ratio (DAR), and the effectiveness of the Audit Committee is gauged based on corporate governance attributes. Findings reveal a significant positive relationship between CSR and financial statement fraud, indicating that enhanced CSR disclosure does not necessarily correlate with reduced fraud risk and may be linked to corporate legitimization efforts. Conversely, financial targets show no significant impact on financial statement fraud, attributed to the relatively low financial pressure faced by companies. Additionally, the Audit Committee does not exhibit a direct effect or moderating role in the relationship between CSR, financial targets, and financial statement fraud. These results underscore the necessity for robust corporate governance, improved supervisory practices, and effective internal control mechanisms to mitigate financial statement manipulation within the energy sector.

Keywords

Corporate Social Responsibility Financial targets Audit Committee Financial statement fraud Beneish M-Score

How to Cite

Citation Format
Sari, S. D. P., & Darwis, H. (2026). Exploring the Role of CSR and Financial Target Pressure on Fraud Practices in the Energy Sector. International Journal of Management Science and Information Technology, 6(2), 1376-1387. https://doi.org/10.35870/ijmsit.v6i2.7944

References

60 References
  • Akbar, T., Retnowati, W., & Pernamasari, R. (2025). Tata kelola perusahaan: Teori dan kasus. Salemba Empat.
  • Alkotdriyah, P. P., Harnovinsah, H., Djaddang, S., Mulyadi, J., & Lysandra, S. (2024). Determinan fraudulent financial statement: Peran komite audit sebagai pemoderasi. Kompartemen: Jurnal Ilmiah Akuntansi, 22(1), 140–156. https://doi.org/10.30595/kompartemen.v22i1.21325
  • Alqatamin, R. M. (2018). Audit committee effectiveness and company performance: Evidence from Jordan. Accounting and Finance Research, 7(2), 48. https://doi.org/10.5430/afr.v7n2p48
  • Altin, M. (2024). Audit committee characteristics and firm performance: a cross-country meta-analysis. Management Decision, 62(5), 1687-1719. https://doi.org/10.1108/md-04-2023-0511
  • Alzeban, A. (2020). The relationship between the audit committee, internal audit and firm performance. Journal of Applied Accounting Research, 21(3), 437–454. https://doi.org/10.1108/JAAR-03-2019-0054
  • Ananda, E. S. C. (2025). The effect of audit CSR, board of directors meeting, and reputation on CSR disclosure with audit committee as moderation. Jurnal Ilmiah Akuntansi Kesatuan, 13(1), 97–106. https://doi.org/10.37641/jiakes.v13i1.3068
  • Andayani, W., & Wuryantoro, M. (2023). Good corporate governance, corporate social responsibility and fraud detection of financial statements. International Journal of Professional Business Review, 8(5), e01051. https://doi.org/10.26668/businessreview/2023.v8i5.1051
  • Andrianingsih, A., & Rohman, A. (2025). Pengaruh pengungkapan corporate social responsibility (CSR) terhadap risiko fraud laporan keuangan dimoderasi independensi dewan komisaris dan aktivitas komite audit pada sektor pertambangan di Indonesia tahun 2019-2023. (Doctoral dissertation, UNDIP: Fakultas Ekonomika dan Bisnis).
  • Ardianingsih, A., & Sagita, W. A. (2026). Determinan “financial statement fraud”: Komite audit sebagai pemoderasi. Jurnal Manajemen Dan Akuntansi Medan, 8(1), 28–42. https://doi.org/10.47709/jumansi.v8i1.7489
  • Arhinful, R., Mensah, L., & Obeng, H. A. (2025). Corporate social responsibility’s role in shaping environmental innovation and reputation: Evidence from London’s non-financial sector. Corporate Social Responsibility and Environmental Management, 32(4), 4880–4899. https://doi.org/10.1002/csr.3214
  • Arum, E. D. P., Wijaya, R., & Wahyudi, I. (2024). Moderation of corporate governance in financial statement fraud investigation with the SCCORE model. Revista de Gestao Social e Ambiental, 18(4). https://doi.org/10.24857/rgsa.v18n4-136
  • Ashma’, F. U., & Laksmi, A. C. (2023). Corporate social responsibility dan stabilitas keuangan terhadap financial fraud: Peran moderasi dari kualitas audit. Reviu Akuntansi dan Bisnis Indonesia, 7(1), 134–152. https://doi.org/10.18196/rabin.v7i1.17739
  • Ashraf Akl Elsayed. (2017). The financial statement fraud risk. Northcentral University. https://dx.doi.org/10.2139/ssrn.3039035
  • Ashrafi, M., Magnan, G. M., Adams, M., & Walker, T. R. (2020). Understanding the conceptual evolutionary path and theoretical underpinnings of corporate social responsibility and corporate sustainability. Sustainability (Switzerland), 12(3). https://doi.org/10.3390/su12030760
  • Basuni, B., & Haryawan, B. (2024). Leadership transformation: Adaptation of a labor service provider company in the development of green human resource management (Study at PT Karya Usaha Baru Sidoarjo-East Java). Journal of Applied Business, Taxation and Economics Research, 3(4), 366–375. https://doi.org/10.54408/jabter.v3i4.282
  • Batara, I. W. D., & Budiwitjaksono, G. S. (2025). Analisis strategi bisnis dalam memprediksi kecurangan laporan keuangan pada perusahaan konstruksi yang terdaftar di BEI 2019–2023. Jurnal Akuntansi STIE Muhammadiyah Palopo, 11(1), 165-183.
  • Cholis, N., & Muniroh, H. (2024). Financial target, stabilitas keuangan dan effective monitoring terhadap kecurangan laporan keuangan. Ratio: Reviu Akuntansi Kontemporer Indonesia, 5(2), 13–24. https://doi.org/10.30595/ratio.v5i2.20793
  • Christianna, C., Stelios, P., & Christos, L. (2023). Examining ESG factors and theoretical frameworks under the corporate fraud context. Journal of Finance and Accounting. https://doi.org/10.11648/j.jfa.20231105.13
  • Chu, S., Oldford, E., & Wang, J. (2023). Corporate social responsibility and corporate fraud in China: The perspective of moderating effect of board gender diversity. International Review of Economics and Finance, 88(288), 1582–1601. https://doi.org/10.1016/j.iref.2023.07.062
  • Cruz, G. S., Alcívar, I. L., Mero, N. M., & Hidalgo‐Fernández, A. (2020). Analysis of the dimensions of corporate social responsibility: Study applied to co-operativism in Ecuador. Social Indicators Research, 148, 517–534. https://doi.org/10.1007/s11205-019-02213-w
  • Darwis, H., Samukri, & Rahmadania, R. (2025). The impact of fraud on financial statement fraud: Analysis of the moderating ROE of the audit committee. International Journal of Multidisciplinary on Science and Management, 2(3). https://doi.org/10.71141/30485037/V2I3P104
  • Dechow, P. M., Ge, W., Larson, C. R., & Sloan, R. G. (2011). Predicting material accounting misstatements. Contemporary Accounting Research, 28(1), 17–82. https://doi.org/10.1111/j.1911-3846.2010.01041.x
  • Castillo-Feito, C., Blanco-González, A., & Hernández-Perlines, F. (2022). The impacts of socially responsible human resources management on organizational legitimacy. Technological Forecasting and Social Change, 174. https://doi.org/10.1016/j.techfore.2021.121274
  • Dimuk, M., Jatiningrum, C., & Gumanti, M. (2022). Mendeteksi faktor fraud pada laporan keuangan dengan komite audit sebagai pemoderasi. eCo-Fin, 4(3). https://doi.org/10.32877/ef.v4i1.454
  • Dinillah, S., & Djamil, N. (2024). Pengaruh audit committee, audit quality, financial stability dan financial target terhadap financial statement fraud pada perusahaan transportasi yang terdaftar pada BEI tahun 2021-2022. JAWI: Journal of Ahkam Wa Iqtishad, 2(1), 317–329. https://doi.org/10.5281/zenodo.10866033
  • Evie, S., & Daswan, L. (2021). Kecurangan laporan keuangan: Financial target, nature of industry, dan perubahan auditor dengan komite audit sebagai variabel moderasi (Studi Bursa Efek Indonesia tahun 2015-2019). Research Business and Economis Studies, 3(1), 61–73. https://doi.org/10.31332/robust.v3i1.6096
  • Faatin, F. N., Ekasari, K., & Wahyuni, H. (2024). Evaluation of the development of corporate social responsibility (CSR) programs PT PERTAMINA (PERSERO). Journal of Applied Business, Taxation and Economics Research. https://doi.org/10.54408/jabter.v3i4.285
  • Ferina, I. S., Tjandrakirana, R., & Abukosim. (2023). Konsep financial statement fraud. Noer Fikri Offset.
  • Fernanda, R. E., & Susilo, D. E. (2025). Pengaruh financial stability, financial target, dan capability terhadap kecurangan laporan keuangan pada perusahaan sektor perbankan yang terdaftar di BEI periode 2020-2023. Jesya, 8(1). https://doi.org/10.36778/jesya.v8i1.1944
  • Gen, W., Yustina, A. I., Hajanirina, A., & Reyes, M. A. (2022). Corporate social responsibility and corporate financial fraud: Evidence from China. JAAF (Journal of Applied Accounting and Finance), 6(1), 38-52. https://doi.org/10.33021/jaaf.v6i1.3614
  • Gilardo Angger Raharja, Y., Pamungkas, N., & Author, C. (2025). Analisis kecurangan laporan keuangan menggunakan metode Beneish M-Score pada perusahaan manufaktur sektor barang konsumsi yang terdaftar di Bursa Efek Indonesia (BEI). https://doi.org/10.38035/jemsi.v6i3
  • Hamad, H. A., & Cek, K. (2023). The Moderating Effects of Corporate Social Responsibility on Corporate Financial Performance: Evidence from OECD Countries. Sustainability, 15(11), 8901. https://doi.org/10.3390/su15118901
  • Hanum, Z., & Faradila, J. (2023). Pengaruh Corporate Social Responsibility Terhadap Agresivitas Pajak Pada Perusahaan Makanan dan Minuman Yang Terdaftar Di BEI. Owner: Riset Dan Jurnal Akuntansi, 7(1), 479-487. https://doi.org/10.33395/owner.v7i1.1114
  • Harnovinsah, Anasta, L., Christine, C., Surya, P., & Syahrani Aulia. (2024). Audit internal teori, konsep, dan praktik. Salemba Empat.
  • Herianti, E., Suryani, A., & Marundha, A. (2021). Audit kecurangan laporan keuangan. Eureka Media Aksara.
  • Hu, H., Dou, B., & Wang, A. (2019). Corporate Social responsibility information disclosure and corporate fraud— “risk reduction” effect or “window dressing” effect?. Sustainability, 11(4), 1141. https://doi.org/10.3390/su11041141
  • Jaroensombut, L., Yiengthaisong, A., & Sakolnakorn, T. P. N. (2025). Corporate social responsibility management for sustainable development: A systematic literature review. International Journal of Advanced and Applied Sciences, 12(1), 172–183. https://doi.org/10.21833/ijaas.2025.01.017
  • Julio, R. F., & Setyaningsih, S. I. (2025). Mega korupsi tata niaga timah Rp 300 triliun: Analisis pelanggaran prinsip Pancasila dan etika tata kelola dalam pengelolaan sumber daya alam. Desentralisasi: Jurnal Hukum, Kebijakan Publik, Dan Pemerintahan, 2(4), 113–129. https://doi.org/10.62383/desentralisasi.v2i4.1238
  • Khumairoh, S., Kuntadi, C., & Maidani. (2022). Pengaruh fraud diamond dalam mendeteksi terjadinya kecurangan laporan keuangan studi empiris pada perusahaan BUMN yang terdaftar di Bursa Efek Indonesia. Journal of Comprehensive Science, 2(1), 129–140. https://doi.org/10.59188/jcs.v2i1.193
  • Kusumawardani, M., Soediro, A., & Adhitama, F. (2024). Peran komite audit terhadap fraudulent financial reporting. Reviu Akuntansi Dan Bisnis Indonesia, 8(2), 156–170. https://doi.org/10.18196/rabin.v8i2.20367
  • Kusumosari, L., & Rahardjo, S. N. (2023). Audit committee effectiveness as fraud prevention mechanism. Jurnal Riset Akuntansi Dan Bisnis Airlangga, 8(2), 1602–1623. https://doi.org/10.20473/jraba.v8i2.51157
  • Lestari, M. I., & Henny, D. (2019). Pengaruh fraud pentagon terhadap fraudulent financial statements pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia tahun 2015-2017. Jurnal Akuntansi Trisakti, 6(1).
  • Li, X., Kim, J. B., Wu, H., & Yu, Y. (2021). Corporate social responsibility and financial fraud: The moderating effects of governance and religiosity. Journal of Business Ethics, 170(3), 557–576. https://doi.org/10.1007/s10551-019-04378-3
  • Liao, L., Chen, G., & Zheng, D. (2019). Corporate social responsibility and financial fraud: Evidence from China. Behavioral & Experimental Accounting eJournal. https://doi.org/10.1111/acfi.12572
  • Mai, N., Nguyen, A. K. T., & Nguyen, T. T. (2021). Implementation of Corporate Social Responsibility Strategy to Enhance Firm Reputation and Competitive Advantage. Journal of Competitiveness, 13(4), 96– 114. https://doi.org/10.7441/joc.2021.04.06
  • Masthura, N., & Indriani, M. (2025). Peran Komite Audit dalam Memoderasi Kecurangan Laporan Keuangan pada Perusahaan Publik di Indonesia. Jurnal Kajian Akuntansi, 9(1), 1–18. https://doi.org/10.33603/jka.v9i1.9361
  • Musfita, R., & Darwis, H. (2020). Analisa faktor-faktor yang mempengaruhi kecurangan laporan keuangan: Model fraud diamond (Vol. 19).
  • Mysaka, H., & Derun, I. (2022). GRI 400 as a contemporary tool to increase trust in corporate social responsibility. Quality - Access to Success, 23(187), 256–270. https://doi.org/10.47750/QAS/23.187.32
  • N. Sayankar, D. V. (2020). ISO 26000: The guiding principle for businesses in a socially responsible approach. Journal of Business Ethics, 40, 970–976.
  • Nasir, N. A. M., & Hashim, H. A. (2020). Corporate governance performance and financial statement fraud: Evidence from Malaysia. Journal of Financial Crime, 28(3), 797–809. https://doi.org/10.1108/JFC-09-2020-0182
  • Nikolaos, K., & Eugenia, T. (2020). Sustainable development and corporate social responsibility: The case of Corinth Pipeworks S. A. Journal of Sustainable Development. https://doi.org/10.5539/jsd.v13n3p150
  • Nindito, M., Avianti, I., Koeswayo, P. S., & Tanzil, N. D. (2025). Guardians of integrity: Exploring the role of corporate governance in preventing financial statement fraud. Journal of Governance and Regulation, 14(1), 109–118. https://doi.org/10.22495/jgrv14i1art10
  • Njotodiardjo, V. C. S. (2022). Pengaruh financial targets, ineffective monitoring, dan rationalization terhadap fraudulent financial reporting pada sektor keuangan di BEI tahun 2017—2019. Parsimonia - Jurnal Ekonomi dan Bisnis, 8(1), 42–54. https://doi.org/10.33479/parsimonia.2021.8.1.42-54
  • Noble, M. R. (2019). Fraud diamond analysis in detecting financial statement fraud. The Indonesian Accounting Review, 9(2), 121–132. https://doi.org/10.14414/tiar.v9i2.1632
  • Noviani, E. D., & Ginting, R. (2024). Komite audit sebagai pemoderasi pengaruh external pressure, financial target, dan audit tenure terhadap fraudulent financial reporting. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 10(1). https://doi.org/10.34204/jiafe.v10i1.8715
  • Nugraha, H. A., & Mulyani, S. D. (2025). Pengaruh Kepemilikan Institusional, Kepemilikan Manajerial, dan Kepemilikan Publik Terhadap Integritas Laporan Keuangan dengan Peran Komite Audit Sebagai Variabel Moderasi. Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah, 7(10), 3787 –. https://doi.org/10.47467/alkharaj.v7i10.9335
  • Nugraheni, N. K., & Triatmoko, H. (2017). Analisis faktor-faktor yang mempengaruhi terjadinya financial statement fraud: Perspektif diamond fraud theory. Jurnal Akuntansi dan Auditing Indonesia, 14(2), 118-143. https://doi.org/10.14710/jaa.14.2.118-143
  • Nurfadilah, G., & Mahadianto, M. Y. (2025). The effect of financial targets and audit committee on fraudulent financial reporting at PT. Pertamina. Danadyaksa: Post Modern Economy Journal, 3(1). https://doi.org/10.69965/danadyaksa.v3i1.182
  • Nurgupita, R., K., & Rahman, A., F. (2024). Menelisik Fraud Laporan Keuangan di Sektor Keuangan: Kajian Terhadap Model S.C.C.O.R.E, Kompetensi Audit Internal, dan Whistleblowing System. Kompartemen: Jurnal Ilmiah Akuntansi, 22(1), 1–20. https://doi.org/10.30595/kompartemen.v22i1.21238
  • Oino, I., & Yekini, S. (2024). Meeting Stakeholder Needs: Who Should Managers Pay Close Attention To? Evidence from Listed Chinese Manufacturing Companies. Sustainability, 16(9), 3806. https://doi.org/10.3390/su16093806

Author Biographies

Safitri Dian Permata Sari, Universitas Muhammadiyah Jakarta

Accounting Study Program, Faculty of Economics and Business, Universitas Teknologi Muhammadiyah Jakarta, South Jakarta City, Special Capital Region of Jakarta, Indonesia

Hidayat Darwis, Universitas Muhammadiyah Jakarta

Accounting Study Program, Faculty of Economics and Business, Universitas Teknologi Muhammadiyah Jakarta, South Jakarta City, Special Capital Region of Jakarta, Indonesia

License

Copyright (c) 2026 Safitri Dian Permata Sari, Hidayat Darwis

Creative Commons License

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

This is an open-access journal distributed under the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits unrestricted use, distribution, reproduction, and adaptation in any medium (even commercially), provided appropriate credit is given to the original author(s), a link to the license is provided, and any changes made are indicated. Authors retain copyright without restrictions and grant the journal the right of first publication as well as non-exclusive publishing rights for archiving, indexing, and scholarly dissemination.

Downloads

OJS UsageStats Plugin
Download data is not yet available.

Most read articles by the same author(s)

Contrimetric

Recommended Articles