THE EFFECTIVENESS OF FRAUD TRIANGLE ON DETECTING FRAUDULENT FINANCIAL STATEMENT: USING BENEISH MODEL AND THE CASE OF SPECIAL COMPANIES

The fraudulent financial statement is a serious problem and to be a threat to stakeholders, especially for an investor. The thing has happened because there is the illegal act done intentionally, such as disclosing financial information that doesn't match with the real condition. The purpose of this research is to acquire an effectiveness of empirical proof of fraud triangle consisting of Pressure, Opportunity, and Rationalization in detecting financial statement fraud that is indicated by using Beneish Model. The sample of this research consists of 39 companies are indicated doing fraud and 57 companies aren't indicated doing fraud listing at BEI (Bursa Efek Indonesia) in 2012 – 2014. Test of this research uses logistic regression method. Based on the result and conclusion, this research shows that opportunity (independent commissioner ownership) has significant effect to fraudulent financial statement while pressure (AGROW), financial target (ROA), and rationalization (Total accrual) don't have significant effect to a fraudulent financial statement.