The Effect of Bankruptcy, Fraud, and Financial Stability on Audit Delay of Indonesian Islamic Banks Listed in Financial Services Authority From 2016-2019



  • Luqman Aulia Rizki Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Tazkia Bogor
  • Sulhani Akuntansi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Tazkia
  • Muhammad Farid Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Syarifuddin



islamic banks, audit delay, bankruptcy, z-score, fraud, m-score, financial stability, achange


The gap of time between the financial report date and audited financial report date shows the time of audit done by the independent auditor, is known as audit delay. The longer the audit delay is finished, the more significant it will affect the decision making because it is one of the most factor that has large contribution in the movement of IHSG. The aim of this study is to find out whether there is or there is not a relationship between Islamic banks reporting delay to the financial determinants of bankruptcy which will be represented with z-score or Altman’s model, fraud which will be presented with M-score or Beneish’s model, and financial stability with ACHANGE as the proxy. The data used are secondary data from annual financial reports of Islamic banks in Indonesia submitted in official website of FSA or their own website, and processed using STATA application. Forty-eight samples used in this research. The result shows that the audit delay of Islamic banks in Indonesia is not affected by either bankruptcy or fraud. Meanwhile, the audit delay of Islamic banks in Indonesia is proven to be quite affected by financial stability.


Download data is not yet available.


Alfian, N., 2020. Pengaruh financial stability, change in auditors, DCHANGE, CEO’S pict pada fraud dalam perspektif fraud pentagon. Jurnal Akuntansi dan Investasi, 5(1), pp.69-80.

Abbas, A., 2017. Earnings fraud and financial stability. Asia Pacific Fraud Journal, 2(1), pp.117-134.

Altman, E.I., Iwanicz‐Drozdowska, M., Laitinen, E.K. and Suvas, A., 2017. Financial distress prediction in an international context: A review and empirical analysis of Altman's Z‐score model. Journal of International Financial Management & Accounting, 28(2), pp.131-171.

Altman, E.I., Sabato, G. and Wilson, N., 2008. The value of non-financial information in SME risk management.

Aqilah, N., Mohammed, N.F. and Kamaluddin, A., 2021. Application Of Beneish M-Score Model In Detecting Probable Earnings Manipulation In Malaysian Public Listed Companies. Integrated Journal of Business and Economics, 5(1), pp.86-100.

Ashton, R.H., Willingham, J.J. and Elliott, R.K., 1987. An empirical analysis of audit delay. Journal of accounting research, pp.275-292.

Beneish, M.D., 1999. The detection of earnings manipulation. Financial Analysts Journal, 55(5), pp.24-36.

Brigham, E. and Houston, J., 2010. Essentials of Financial Management. Cengage Learning. Inc, Singapore.

Carslaw, C.A. and Kaplan, S.E., 1991. An examination of audit delay: Further evidence from New Zealand. Accounting and business research, 22(85), pp.21-32.

Chairunnisa, R. and Arshed, N., 2020. Prediction of Islamic Banking Bankruptcy in Indonesia: Comparative Study of Altman Z-Score and Springate Models. IKONOMIKA, 5(2), pp.231-248.

Chrislianti, E.L., 2017. Pengaruh Fraud diamond dalam mendeteksi kecurangan laporan keuangan menggunakan f-score model pada perbankan di Indonesia (Doctoral dissertation, Widya Mandala Catholic University Surabaya).

Clatworthy, M.A. and Peel, M.J., 2016. The timeliness of UK private company financial reporting: Regulatory and economic influences. The British Accounting Review, 48(3), pp.297-315.

Gamayuni, R.R., 2009. Berbagai Alternatif Model Prediksi Kebangkrutan. Jurnal Akuntansi dan Keuangan, 14(1), pp.75-89.

Gosal, J.A. and Lusmeida, H., 2015. The influence of probability of bankruptcy and audit firm size to audit delay: evidence in Indonesia company listed in Indonesia stock exchange 2012-2014. Jurnal Ekonomis, 9(2), pp.53-68.

Gupta, P.K. and Gupta, S., 2015. Corporate frauds in India–perceptions and emerging issues. Journal of Financial Crime.

Isrodinata, R., 2021. Pengaruh fraud diamong terhadap financial statement fraud pada bank umum Syariah periode 2015-2019 (Doctoral dissertation, UIN RADEN FATAH PALEMBANG).

Kartika, A., 2009. Faktor-faktor yang mempengaruhi audit delay di Indonesia (Studi Empiris pada perusahaan-perusahaan LQ 45 yang terdaftar di Bursa Efek Jakarta). Jurnal Bisnis dan Ekonomi, 16(01).

Lai, T., Tran, M., Hoang, V. and Nguyen, T., 2020. Determinants influencing audit delay: The case of Vietnam. Accounting, 6(5), pp.851-858.

Lukason, O. and Laitinen, E.K., 2019. Firm failure processes and components of failure risk: An analysis of European bankrupt firms. Journal of Business Research, 98, pp.380-390.

Lunenburg, F.C., 2012. Compliance theory and organizational effectiveness. International journal of scholarly academic intellectual diversity, 14(1), pp.1-4.

Mavengere, K., 2015. Predicting Corporate Bankruptcy and Earnings Manipulation Using the Altman Z-Score and Beneish M Score. The Case of Z Manufacturing Firm in Zimbabwe. International Journal of Management Sciences and Business Research.

Nelmida, N., 2020. Potensi Financial Distress Bank Umum Syariah di Indonesia. Jurnal Ekonomi, Manajemen dan Perbankan (Journal of Economics, Management and Banking), 5(3), pp.156-160.

Nurahmayani, I.A., Purnamasari, P. and Oktaroza, M.L., 2019. Influence of IFRS Application, Industrial Type and Probability of Bankruptcy to Audit Delay.

Puspitasari, E. and Sari, A.N., 2012. Pengaruh karakteristik perusahaan terhadap lamanya waktu penyelesaian audit (audit delay) pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi dan Auditing, 9(1), pp.31-42.

Santoso, F.K., 2013. Analisis Faktor-Faktor Yang Mempengaruhi Audit Delay Pada Perusahaan Di Sektor Keuangan. Berkala Ilmiah Mahasiswa Akuntansi, 1(2), pp.89-95.

Sembiring, E.R., 2006. Karakteristik perusahaan dan pengungkapan tanggung jawab sosial: study empiris pada perusahaan yang tercatat di Bursa Efek Jakarta. MAKSI, 6.

Sihombing, K.S. and Rahardjo, S.N., 2014. Analisis fraud diamond dalam mendeteksi financial statement fraud: studi empiris pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) Tahun 2010-2012 (Doctoral dissertation, Fakultas Ekonomika dan Bisnis).

Skousen, C.J., Smith, K.R. and Wright, C.J., 2009. Detecting and predicting financial statement fraud: The effectiveness of the fraud triangle and SAS No. 99. In Corporate governance and firm performance. Emerald Group Publishing Limited.

Soetedjo, S., 2006. Faktor-Faktor Yang Mempengaruhi Audit Delay Lag (ARL). Jurnal Ventura, 9(2), pp.77-92.

Subekti, I. and Novi Wulandari, W., 2004. Faktor-faktor yang Mempengaruhi Audit report lag di Indonesia. Simposium nasional akuntansi VII denpasar-bali, pp.2-3.

Suryanto, T., 2016. Audit delay and its implication for fraudulent financial reporting: a study of companies listed in the Indonesian stock exchange.

Suwardi, A., 2011. STATA: Tahapan dan perintah (SYNTAX) data panel. Edisi: 2011. Web. Accessed August, 25, p.2013.

Warshavsky, M., 2012. Analyzing earnings quality as a financial forensic tool. Financial Valuation and Litigation Expert Journal, 39(39), pp.16-20.

Wu, W.W., 2010. Beyond business failure prediction. Expert systems with applications, 37(3), pp.2371-2376.

Yim, A., 2010. Fraud Detection and Financial Reporting and Audit Delay.

Yunita, S. and Anisykurlillah, I., 2020. NPL sebagai Pemoderasi Faktor-Faktor yang Mempengaruhi Audit Delay. SAR (Soedirman Accounting Review): Journal of Accounting and Business, 5(2), pp.138-151




How to Cite

Rizki, L. A., Sulhani, & Farid, M. (2023). The Effect of Bankruptcy, Fraud, and Financial Stability on Audit Delay of Indonesian Islamic Banks Listed in Financial Services Authority From 2016-2019: English. Muhasabatuna : Jurnal Akuntansi Syariah, 5(1), 033–054.