Published: 2026-07-26
Exploring the Role of CSR and Financial Target Pressure on Fraud Practices in the Energy Sector
DOI: 10.35870/ijmsit.v6i2.7944
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
Article Information
This article has been peer-reviewed and published in the International Journal of Management Science and Information Technology. The content is available under the terms of the Creative Commons Attribution 4.0 International License.
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Issue: Vol. 6 No. 2 (2026)
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Section: Articles
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Published: 2026-07-26
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License: CC BY 4.0
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Copyright: © 2026 Authors
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DOI: 10.35870/ijmsit.v6i2.7944
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Safitri Dian Permata Sari, Universitas Teknologi 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 Teknologi Muhammadiyah Jakarta
Accounting Study Program, Faculty of Economics and Business, Universitas Teknologi Muhammadiyah Jakarta, South Jakarta City, Special Capital Region of Jakarta, Indonesia
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