Corporate Governance Characteristics and Their Impact on Accounting Conservatism in SOEs Listed in the BUMN20 Index
DOI:
https://doi.org/10.56070/ibmaj.v5i1.344Keywords:
Accounting Conservatism, Audit Committee, Board of Commissioners, Board of Directors, Independent CommissionersAbstract
This study examines influence of corporate governance characteristics on accounting conservatism in State Owned Enterprises (SOEs) listed in the BUMN20 Index of Indonesia Stock Exchange during 2019–2023 period. The characteristics analyzed include audit committee, audit committee meetings, board of commissioners, independent commissioners, CEO retirement, and board of directors. Using a quantitative method with an associative approach, the study employs multiple linear regression to analyze data obtained from purposively selected SOEs within BUMN20 Index. The findings show that certain governance characteristics specifically board of commissioners and independent commissioners have a significant negative effect on accounting conservatism, while board of directors shows a significant positive influence. In contrast, audit committee, audit committee meetings, and CEO retirement exhibit no significant impact. These results emphasize the role of strong governance in improving financial reporting quality, particularly through application of conservative accounting practices to reduce risk of financial manipulation. However, the insignificance of audit committee variables suggests that their function in SOEs remains largely formalistic and not fully effective in overseeing accounting policies. Strengthening the competence, independence, and involvement of audit committees is therefore essential. Overall, this study contributes insights for academics, practitioners, and regulators in enhancing transparency, accountability, and public trust in SOEs.
Downloads
References
Aburisheh, K. E., Dahiyat, A. A., Owais, W. O., Al Shanti, A. M., & AlQudah, L. A. (2022). The effect of ownership structure and board structure on accounting conservatism throughout financial reporting: Evidence from Jordanian industrial corporations. Cogent Business & Management, 9(1), 2112819.
Achyani, F., Lovita, L., & Putri, E. (2021). The Effect of Good Corporate Governance, Sales Growth, and Capital Intensity on Accounting Conservatism (Empirical Study on Manufacturing Companies Listed on the Indonesia Stock Exchange 2017-2019). Riset Akuntansi dan Keuangan Indonesia, 255-267.
Al-Saidi, M. (2020). Investigating the impact of board of directors on accounting conservatism in Kuwait. International Business Research, 13(9), 1-46.
Altin, M. (2024). Audit committee characteristics and firm performance: A cross-country meta-analysis. Management Decision, 62(5), 1687–1719
Amalia, A. P., Suryani, A. W., & Sulistyawati, S. N. (2025). CFO characteristics and accounting conservatism in Indonesia. Journal of Accounting and Business Education, 9(3), 10–32.
Amaliyah, F., & Herwiyanti, E. (2019). Pengaruh kepemilikan institusional, dewan komisaris independen, dan komite audit terhadap nilai perusahaan sektor pertambangan. Jurnal Akuntansi ISSN, 9(3), 2019.
Anam, H., & Liyanto, L. W. (2019). Proporsi Komisaris Independen, Dewan Komisaris, Kompetensi Komite Audit, Frekuensi Rapat Komite Audit Terhadap Konservatisme Akuntansi. Jurnal GeoEkonomi, 10(1), 130-149.
Ardi, A., & Indrawati, N. (2019). Pengaruh konflik kepentingan dan tingkat kesulitan keuangan terhadap konservatisme akuntansi dengan risiko litigasi sebagai variabel pemoderasi. Jurnal Ekonomi, 27(2), 160–171.
Atwa, R., Alsmadi, S., Kharabsheh, B., & Haddad, R. (2023). Do CEO attributes spur conservatism?. International Journal of Financial Studies, 11(1), 52.
Calista, V., & Hadiprajitno, P. T. B. (2024). Determinan manipulasi laporan keuangan dengan pendekatan teori fraud hexagon. Jurnal Akuntansi, 23(2), 1–15.
Chen, S., Ni, S. X., & Zhang, F. (2018). CEO retirement, corporate governance and conditional accounting conservatism. European Accounting Review, 27(3), 437-465.
Diannita, T., & Nazar, M. R. (2020). Pengaruh Ukuran Perusahaan, Intensitas Modal, Dan Frekuensi Pertemuan Komite Audit Terhadap Konservatisme Akuntansi (Studi Empiris pada Perusahaan Sub Sektor Food and Beverage yang terdaftar di Bursa Efek Indonesia selama periode 2014-2017). eProceedings of Management, 7(2).
Ersyafdi, I. R., & Aslamiyah, Z. (2023). Pengaruh Rasio Keuangan dan Ukuran Perusahaan terhadap Return Saham Jakarta Islamic Index 70. IQTISHODUNA, 19(2), 173-191.
Fadel, M., & Annisa, D. (2024). Pengaruh growth opportunities, komite audit dan kepemilikan manajerial terhadap konservatisme akuntansi. Jurnal Ilmiah Akuntansi Universitas Pamulang, 12(2), 1–12.
Fadilla, D. A. N., & Syafruddin, M. (2020). Pengaruh Mekanisme Tata Kelola Perusahaan Terhadap Tingkat Konservatisme Akuntansi Di Indonesia. Diponegoro Journal of Accounting, 9(2).
Ghabranious, M. G., & Ismail, T. H. (2024). The impact of the audit committee on the effectiveness of financial reporting quality: Evidence from the Egyptian Stock Exchange. International Journal of Auditing and Accounting Studies, 6(2), 233–261.
Hajawiyah, A., Wahyudin, A., Kiswanto, Sakinah, & Pahala, I. (2020). The effect of good corporate governance mechanisms on accounting conservatism with leverage as a moderating variable. Cogent Business & Management, 7(1), 1779479.
Hakim, R. A., & Setiany, E. (2024). The impact of board of commissioners size, proportion of independent commissioners, and company age on the quality of sustainability reporting. International Journal of Innovative Science and Research Technology, 9(2), 1–7
Hartanto, K. E. V. I. N., & Anggraeni, F. A. N. N. Y. (2023). Pengaruh Konservatisme Akuntansi Dan Faktor Lainnya Terhadap Penghindaran Pajak. E-Jurnal Akuntansi Tsm, 3(2), 247-264.
Khan, S., Khan, H., & Khan, F. (2019). Firms’ audit committee and external auditor influence on accounting conservatism and firm performance. International Journal of Management, Accounting and Economics, 6(1), 22–47.
Kieso, D. E., Weygandt, J. J., Warfield, T. D., Wiecek, I. M., & McConomy, B. J. (2019). Intermediate accounting (Vol. 2). John Wiley & Sons.
Kim, W. (2023). Corporate governance: Upholding transparency, accountability, and ethical standards. Business Studies Journal, 15(4), 1-3.
Mahdy, D. E., Yang, L., Abdelrazeik, A., & Elbolok, R. (2025). Audit committee characteristics and accounting conservatism: does the power of people matter?. International Journal of Corporate Governance, 15(2), 99-126.
Mandasari, F. A., Indriani, E., & Hudaya, R. (2022). Pengaruh Mekanisme Good Corporate Governance Terhadap Konservatisme Akuntansi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (Periode 2015-2020). Jurnal Riset Mahasiswa Akuntansi, 2(4), 793-807.
Mentari, S., Zahroh, F., & Ermayda, R. Z. (2019). Effectiveness of the Board of Commissioners Role: Review of Resources Dependence Theory. In 3rd International Conference on Accounting, Management and Economics 2018 (ICAME 2018) (pp. 276-285). Atlantis Press.
Miladia, S., Rakhmawati, I., & Fauzah, M. (2024). Effect of board of commissioners size, company size, growth opportunity, and profitability on prudence accounting. Proceedings of UIN Saizu International Conference, 1–10.
Muttakin, M. B., Khan, A., & Tanewski, G. (2019). CFO tenure, CFO board membership and accounting conservatism. Journal of Contemporary Accounting & Economics, 15(3), 100165.
Nugraha, R., & Safitri, M. (2023). Komisaris Independen dan Pengaruhnya terhadap Pengendalian Laba dan Konservatisme Akuntansi. Jurnal Akuntansi Terapan, 15(3), 34–49.
Noviyanti, N., Ersyafdi, I. R., Prabowo, M. A., Mubayyinah, F., & Aryani, H. F. (2024). Pengaruh Fraud Pentagon dalam Mendeteksi Kecurangan Laporan Keuangan pada Perusahaan yang Terdaftar di Corporate Governance Perception Index periode 2018-2022. Jurnal Akuntansi Publik Nusantara, 2(1), 22-30.
Pangestuti, D. C. (2020). Manajemen Keuangan Internasional. Deepublish.
Pratomo, D., & Havivah, V. (2021). Pengaruh karakteristik dewan komisaris dan kualitas audit terhadap konservatisme akuntansi. Inovasi: Jurnal Ekonomi, Keuangan, dan Manajemen, 17(2), 303-310.
Rosmiasih, R., & Ersyafdi, I. R. (2023). Pengaruh Pengungkapan Islamic Social Reporting, Karakteristik dan Kebijakan Perusahaan terhadap Nilai Perusahaan yang Terdaftar di Jakarta Islamic Index 70. JAAKFE UNTAN (Jurnal Audit dan Akuntansi Fakultas Ekonomi Universitas Tanjungpura), 12(1), 50-63.
Sari, A. P. (2022). Pengaruh Ukuran Perusahaan, Leverage, Kepemilikan Manajerial dan Komite Audit Terhadap Konservatisme Akuntansi Pada Perusahaan BUMN yang Terdaftar di BEI 2015-2019. Jurnal Pusdansi, 1(10).
Sari, I. P., & Srimindarti, C. (2022). Indikator-indikator yang mempengaruhi tingkat konservatisme akuntansi. Owner: Riset Dan Jurnal Akuntansi, 6(1), 487-500.
Siswati, R., Maslichah, M., & Afifudin, A. (2022). Pengaruh Konservatisme Akuntansi, Kualitas Pelaporan Keuangan Dan Good Corporate Governance Terhadap Asimetri Perusahaan Manufaktur Industri Barang Konsumsi Yang Terdaftar Di BEI Tahun 2018-2020. e_Jurnal Ilmiah Riset Akuntansi, 11(04).
Sudjono, A. C., & Setiawan, A. (2024). Audit committee’s roles & effectiveness: Evidence from Indonesia. Sriwijaya International Journal of Dynamic Economics and Business, 8(2), 183–208.
Tazkiya, H., & Sulastiningsih, S. (2020). Pengaruh growth opportunity, financial distress, ceo retirement terhadap konservatisme akuntansi: Studi empiris pada perusahaan manufaktur yang terdaftar di bei tahun 2013-2017. Kajian Bisnis STIE Widya Wiwaha, 28(1), 13-34.
Triyani, A., Retnoningsih, S., Setyahuni, S. W., & Khoiruddin, M. F. (2023). What factors affect conservatism? the role of board gender, ceo retirement and financial distress. JIA (Jurnal Ilmiah Akuntansi), 8(2), 399-417.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Dhea Zafira Agustina, Ilham Ramadhan Ersyafdi, Muhammad Aras Prabowo, Siti khomsatun
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
