Invoice : Jurnal Ilmu Akuntansi has p-ISSN 2714-6359 and e-ISSN 2714-6340. It is published by University of Muhammadiyah Makassar. This journal publishes research articles in the field of accounting science, utilizing various qualitative and/or quantitative methods and approaches. It aims to develop concepts, theories, perspectives, paradigms, and methodologies within the scope of accounting. The journal is published twice a year, in March and September. The scope of Invoice : Jurnal Ilmu Akuntansi includes Financial Accounting, Auditing, Islamic Financial Accounting, Cost Accounting, Management Accounting, Tax Accounting, International Accounting, Non-Profit Accounting, Budgeting Accounting, Government/Public Sector Accounting, and Accounting Systems. Invoice : Jurnal Ilmu Akuntansi follows a double-blind peer review process. The decision to accept or reject a submitted manuscript is made by the Editorial Board based on recommendations from peer reviewers. Authors are required to read and understand the author's guidelines carefully. Manuscripts submitted to invoice : jurnal ilmu akuntansi must comply with these guidelines. Submissions that do not adhere to the required format will be rejected by the editorial team before the review process. The Editorial Team will only consider manuscripts that meet the specified formatting requirements. toto togel situs toto toto slot Bandar Togel
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Managerial Ownership and Audit Committee Effects on Integrated Reporting Quality: Moderating Role of Board Gender Diversity
This study examines the influence of managerial ownership and audit committee effectiveness on the quality of integrated reporting (IRQ), with the gender of the board of directors as a moderating variable, in companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2024 period. Despite the increasing global adoption of integrated reporting, empirical evidence on its governance determinants in emerging markets remains limited and fragmented. This study integrates institutional, legitimacy, and stakeholder theories to provide a comprehensive explanation of governance-driven reporting behavior. Using a quantitative associative approach, this study analyzes 149 firm-year observations from 61 companies selected through purposive sampling. Panel data regression analysis with a Random Effect Model (REM) is employed to test the hypotheses. The results indicate that managerial ownership and audit committees have a positive and statistically significant effect on the quality of integrated reporting, supporting the arguments of agency alignment and effective monitoring mechanisms. However, the gender of the board of directors does not significantly moderate the relationship between governance mechanisms and reporting quality, suggesting contextual and structural limitations in the role of gender diversity within emerging markets. This study contributes to the literature by integrating multiple governance mechanisms within a multi-theoretical framework and providing empirical evidence from Indonesia. Practically, the findings highlight the importance of strengthening corporate governance structures to enhance transparency, accountability, and the overall quality of integrated reporting, offering implications for regulators, policymakers, and standard-setting bodies.
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Environmental Performance, ESG, and Profitability: Evidence on Corporate Effective Tax Rates from Profit and Loss Firms
Environmental sustainability and responsible corporate governance increasingly influence corporate financial decisions, including tax behavior. However, limited evidence explains how environmental performance and Environmental, Social, and Governance (ESG) practices affect corporate effective tax rates under different financial conditions, particularly in emerging markets. This study aimed to examine the effects of environmental performance, ESG, and profitability on corporate effective tax rates and to analyze the moderating role of capital structure between profitable and loss-making firms. The study employed a quantitative research design using secondary data from companies in the Basic Materials sector listed on the Indonesia Stock Exchange during 2019–2024. Using purposive sampling, 27 firms that participated in the PROPER environmental performance program were selected, generating 162 firm-year observations. The data were analyzed using multiple regression models to compare relationships across different financial conditions. The results showed that environmental performance significantly influenced corporate effective tax rates and the effect differed between profitable and loss-making firms. ESG was also associated with corporate effective tax rates but did not show a consistent difference between firms with profits and those experiencing losses. Profitability likewise did not significantly differentiate corporate tax outcomes between the two groups. In addition, capital structure strengthened the relationship between environmental performance and corporate effective tax rates, while it did not significantly moderate the relationships involving ESG or profitability. These findings highlight the role of environmental responsibility and financial structure in shaping corporate tax behavior and provide insights for managers and policymakers in promoting sustainability, transparency, and responsible corporate governance.
The Impact of Digital Transformation and Corporate Governance on Telecommunications Firm Performance in Indonesia (2021–2024)
Digital transformation has become a critical driver of organizational outcomes in technology-intensive industries; however, prior studies have largely emphasized its direct impact on performance without clearly distinguishing between financial performance and firm value as conceptually different constructs. Moreover, limited attention has been given to the role of corporate governance in shaping these relationships, particularly in emerging market contexts. This study aims to examine (1) the effect of digital transformation on financial performance, (2) the effect of corporate governance on financial performance, and (3) the moderating role of corporate governance in the relationship between digital transformation and firm value. This research employs a quantitative explanatory design using panel data regression analysis. The sample comprises three major telecommunications companies listed on the Indonesia Stock Exchange, selected based on data availability and industry relevance, with quarterly observations from 2021 to 2024, resulting in 48 firm-quarter observations. Digital transformation is proxied by IT capital expenditure intensity, corporate governance is measured using a governance disclosure index, financial performance is captured by Return on Assets (ROA), and firm value is measured using Tobin’s Q. Moderation analysis is conducted using an interaction term between digital transformation and corporate governance. The results show that digital transformation significantly improves financial performance, while corporate governance has a positive effect on financial performance. In addition, corporate governance strengthens the positive relationship between digital transformation and firm value, indicating its role as an effective moderating mechanism. These findings confirm that financial performance and firm value represent distinct outcomes of digital transformation, and that governance plays a crucial role in bridging technological investment and market valuation. This study contributes to the literature by clarifying the dual outcomes of digital transformation and highlighting the contingent role of governance in enhancing firm value within the telecommunications sector.
Green Accounting Impact on Financial Performance of Indonesian Food and Beverage Firms Listed on IDX 2020–2023
This study investigates the impact of green accounting on the financial performance of food and beverage manufacturing firms listed on the Indonesia Stock Exchange (IDX) during the period 2020–2023. Increasing environmental challenges and regulatory pressures have encouraged companies to incorporate environmental costs into their financial reporting systems; however, the adoption of green accounting in Indonesia remains relatively limited. This study employs a quantitative approach using panel data regression analysis. The sample consists of 11 firms selected through purposive sampling, resulting in 44 firm-year observations. Financial performance is proxied by Return on Assets (ROA), while green accounting is measured using the environmental cost ratio, defined as the proportion of corporate social responsibility (CSR) environmental expenditures to earnings after tax. The empirical results reveal that green accounting has a statistically significant effect on financial performance. Firms that allocate and manage environmental costs more efficiently tend to demonstrate higher profitability levels. This finding suggests that integrating environmental considerations into financial decision-making not only enhances operational efficiency but also strengthens corporate reputation and investor confidence. Moreover, the results support legitimacy theory, indicating that companies engaging in environmental responsibility are more likely to gain stakeholder trust, which contributes to improved financial outcomes. Despite its significance, the explanatory power of green accounting remains moderate, implying that other factors also influence financial performance. This study contributes to the literature by providing empirical evidence from an emerging market context and highlights the strategic importance of green accounting in achieving sustainable financial performance. The findings also offer practical implications for managers and policymakers to promote broader adoption of environmentally responsible accounting practices.
Food and Beverage Manufacturing Industry
Revisiting Transfer Pricing in The Digital Era: A Value-Based Approach Toward Ethical and Sustainable Tax Practices
Digital transformation has changed global business models and the way companies create economic value. This change poses challenges for the international taxation system, especially in the practice of transfer pricing, which serves to determine the fair price of transactions between related entities. The complexity of assessing and determining the location of intangible asset value creation increases the risk of profit shifting and tax base erosion, which impacts potential state revenue.This study aims to analyze transfer pricing practices in the digital economy through an ethical perspective and a value-based approach. The method used is a Systematic Literature Review (SLR) with sources from scientific articles indexed. The search was not limited by publication year because the number of studies examining transfer pricing in an ethical context is still very limited. A total of 730 articles were initially identified across major academic databases, but only 21 studies met the inclusion criteria and were subsequently analyzed using content analysis and trend mapping. The results of the study show that transfer pricing practices in the digital economy era face challenges in the valuation of intangible assets, inconsistencies in the international regulatory framework, and institutional pressure for transparency. The integration of moral values affects documentation, pricing structures, and profit allocation behavior, thereby encouraging more ethical tax practices. The application of a value-based approach strengthens accountability, enhances social legitimacy, and supports fiscal sustainability through more proportional tax contributions. Overall, these findings confirm that transfer pricing has important moral and social dimensions in building sustainable tax governance.
Digital Safety Management Systems and Green Finance for MSMEs Financial Sustainability: Evidence from ESG-Based Risk Management
The rapid advancement of digital transformation and the growing global emphasis on sustainability have placed Micro, Small, and Medium Enterprises (MSMEs), particularly in emerging economies such as Indonesia, under increasing pressure to enhance financial resilience while aligning with Environmental, Social, and Governance (ESG) standards. In the context of MSMEs in Medan City, North Sumatra, digitalization offers opportunities for efficiency and market expansion but also introduces challenges, including cyber risks, weak digital security governance, and limited access to green financing. These constraints may hinder long-term financial sustainability without integrated governance and effective risk management. This study examines the influence of Digital Safety Management Systems and Green Finance on MSMEs’ Financial Sustainability, with ESG-Based Budgeting and Risk Management as mediating variables. A quantitative explanatory approach was employed using purposive sampling of 230 MSMEs with digital system adoption and access to formal financing. Data collected from December 2025 to February 2026 were analyzed using SEM-PLS. The results show that Digital Safety Management Systems and Green Finance significantly enhance Financial Sustainability both directly and indirectly. The mediation analysis indicates partial mediation, with Risk Management as the most influential mechanism. This study contributes by integrating digital safety governance and green finance within an ESG-based risk management framework, offering a novel perspective that bridges fintech risk management and sustainability accounting in MSMEs. The findings provide practical insights for policymakers in developing countries to strengthen MSME sustainability.
Web-Based Sustainability Disclosure Practices in Malaysian Public and Private Universities: Evidence from Content Analysis Approach
Universities are increasingly expected to demonstrate transparency and accountability in addressing environmental and social challenges aligned with sustainable development. Web-based sustainability reporting has emerged as an important communication tool that allows higher education institutions to disclose sustainability initiatives and engage stakeholders effectively. This study aimed to examine the extent of sustainability information disclosed on university websites and to compare disclosure practices between public and private universities in Malaysia. A quantitative research design was employed using content analysis of official university websites. The population consisted of 20 public universities and 48 full private universities in Malaysia. Data were collected using a web-based sustainability reporting index consisting of 83 disclosure items across nine dimensions categorized into general, sustainability-specific, and university-specific aspects. The collected data were analyzed using descriptive statistics with SPSS, followed by independent sample t-tests and Mann–Whitney U tests to examine differences between institutional types. The findings indicated that Malaysian universities generally disclose sustainability information at a moderate level, with the highest disclosure found in general sustainability information (65%). Within sustainability-specific disclosures, the social dimension showed the highest level of reporting compared to economic and environmental aspects. The results also revealed that public universities demonstrate higher levels of sustainability disclosure than private universities across most dimensions. This study provides empirical evidence on the current state of digital sustainability disclosure in Malaysian higher education institutions. The findings contribute to the literature on sustainability reporting and offer practical insights for policymakers and university management in improving transparency, stakeholder communication, and institutional sustainability practices.
Digital transparency; Higher education sustainability; Sustainability disclosure index; Institutional accountability; Stakeholder communication
Financial and Non-Financial Incentive Mechanisms in ISPO Certification: A Management Control Systems Perspective
Sustainability certification has become a key governance instrument for aligning dispersed actors with environmental and regulatory objectives, particularly in agricultural value chains. However, the effectiveness of incentive mechanisms designed to support certification adoption remains insufficiently understood, especially when different types of incentives are evaluated within an integrated framework. Drawing on a management control systems (MCS) perspective, this study examines the comparative effects of financial, non-financial, and combination incentives on independent smallholders’ perceived effectiveness of support for Indonesian Sustainable Palm Oil (ISPO) certification. This study adopts a quantitative explanatory approach using survey data collected from 143 oil palm smallholders in South Kalimantan, Indonesia. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to assess the relationships between incentive mechanisms and perceived effectiveness. The findings reveal that all three types of incentives have a positive and statistically significant influence. However, non-financial incentives demonstrate the strongest effect (β = 0.352, p < 0.001), followed by financial incentives (β = 0.261, p < 0.001), while combination incentives show a weaker effect (β = 0.165, p < 0.05). These results suggest that enabling controls, such as training, market access facilitation, and institutional recognition, play a more critical role than outcome-based financial incentives in shaping perceived effectiveness. Furthermore, the findings challenge the assumption of automatic complementarity in combined incentive designs, indicating that integration does not necessarily enhance effectiveness in fragmented institutional contexts. This study contributes to management accounting literature by extending the concept of control packages to extra-organizational sustainability governance and highlights the conditional nature of incentive complementarity. The findings offer important implications for designing more coherent and effective sustainability-oriented policy interventions in developing economies.
Adoption of Digital Accounting Systems among Small and Medium Enterprises in Wetland Ecosystems
Digital accounting systems represent an important component of accounting information systems that support financial recording, reporting, and decision-making in small and medium enterprises (SMEs). However, SMEs operating in environmentally constrained regions may face contextual challenges that alter the determinants of digital accounting adoption. This study examines factors influencing digital accounting system adoption among SMEs in South Kalimantan's wetland ecosystems. Drawing on the Technology Acceptance Model, Diffusion of Innovation Theory, and the Resource-Based View, this research develops an integrated framework to assess the relative influence of perceived usefulness, perceived ease of use, digital infrastructure, and digital literacy on adoption intention. Survey data were collected from 86 SME owners and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that digital literacy (β = 0.439, p < 0.001) is the strongest predictor of adoption intention, followed by perceived usefulness (β = 0.310, p = 0.001) and digital infrastructure (β = 0.233, p = 0.004). Perceived ease of use is not significant (β = 0.092, p = 0.435), suggesting that in chronically volatile environments baseline expectations for technological friction may be elevated, a phenomenon we term friction tolerance. Wetland ecosystem characteristics show no direct or moderating effects. The model explains 72.4% of the variance in adoption intention, indicating strong explanatory power. These findings contribute to accounting information systems literature by demonstrating that capability-based mechanisms, particularly digital literacy, assume greater explanatory weight than perceptual mechanisms in environmentally constrained settings. Practical implications emphasize prioritizing capacity-building initiatives and strategic infrastructure investment to support SME digital accounting adoption in wetland regions.
Audit Quality Moderating Managerial Ownership and ESG Disclosure Effects on Firm Value in Non-Cyclical Consumer Firms
This study examines the effect of managerial ownership and Environmental, Social, and Governance (ESG) disclosure on firm value, with audit quality as a moderating variable, in consumer non-cyclical firms listed on the Indonesia Stock Exchange during the 2021–2024 period. Grounded in agency theory and signaling theory, this research addresses inconsistencies in prior literature regarding the value relevance of ownership structure and sustainability disclosure in emerging markets. Using a quantitative approach with purposive sampling, 45 firms were selected, resulting in 180 firm-year observations. The data were analyzed using Moderated Regression Analysis (MRA) after passing classical assumption tests. The results reveal that managerial ownership has a significant negative effect on firm value, indicating the presence of managerial entrenchment that outweighs the alignment effect. ESG disclosure is also found to negatively affect firm value, suggesting that investors may perceive sustainability initiatives as short-term cost burdens rather than value-enhancing strategies. Furthermore, audit quality does not moderate the relationship between managerial ownership and firm value, implying limited effectiveness of external monitoring in mitigating ownership-related agency conflicts. However, audit quality significantly strengthens the relationship between ESG disclosure and firm value by enhancing the credibility of sustainability information. This study contributes to the literature by integrating governance, sustainability, and assurance perspectives within a unified framework and provides empirical evidence from an emerging market context, highlighting that the value implications of ESG disclosure depend on information credibility and institutional settings.
Smart AI-Enabled SAK EMKM for Accounting Transformation and MSME Financial Performance
This study examines how artificial intelligence (AI)-enabled digital accounting platforms support the implementation of Financial Accounting Standards for Micro, Small, and Medium Entities (SAK EMKM) while improving the financial performance and governance of MSMEs. Although standardized financial reporting is increasingly essential for business sustainability and regulatory compliance, many MSMEs continue to depend on manual bookkeeping systems that hinder reporting accuracy, timeliness, and decision usefulness. Addressing this gap, the study investigates the digital accounting transformation of Batik Muktiyasa, a batik MSME in Banyuwangi, Indonesia, through a qualitative contextual approach combined with action research. Data were obtained through interviews, direct observation, financial document analysis, and system implementation to compare accounting practices before and after the adoption of an AI-enabled accounting platform. The findings indicate that AI-based accounting systems not only improve the accuracy of financial records, automate transaction classification, and produce financial statements aligned with SAK EMKM, but also expand the managerial value of accounting information through automated ratio analysis, financial trend detection, and cost-efficiency evaluation. A significant finding is the improvement in accounting compliance from 21.4% before digitalization to full compliance after implementation. The novelty of this research lies in its integration of AI adoption, MSME accounting digitalization, and SAK EMKM compliance within a single contextual transformation framework. The study contributes to the literature by proposing an integrated AI–SAK EMKM accounting transformation model that explains how AI-enabled systems can bridge the gap between informal bookkeeping practices and formal financial reporting standards in MSMEs. Practically, the study provides an applicable model for MSMEs, policymakers, and digital accounting service providers to strengthen financial governance, enhance compliance, and support long-term business sustainability.
Determinants of Firm Value: The Role of Sales Growth, Capital Structure, and Liquidity
The coal mining industry plays a strategic role in Indonesia’s economy but is highly exposed to global commodity price volatility, creating uncertainty in firm value. Despite extensive research on firm value determinants, empirical findings remain inconsistent, particularly within volatile extractive industries in emerging markets. This study aims to examine the effects of sales growth, capital structure, and liquidity on firm value in coal mining companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This study adopts a quantitative approach using panel data regression analysis. The sample consists of 27 companies selected through purposive sampling, resulting in 120 firm-year observations after outlier adjustment. Firm value is proxied by Price to Book Value (PBV), while sales growth, capital structure (Debt-to-Equity Ratio), and liquidity (Current Ratio) serve as independent variables. The Fixed Effect Model (FEM) is employed as the most appropriate estimation model. The results indicate that, simultaneously, sales growth, capital structure, and liquidity significantly affect firm value. However, partially, only capital structure shows a positive and statistically significant effect, while sales growth and liquidity are found to be insignificant. These findings suggest that investors place greater emphasis on financing decisions rather than operational growth or short-term financial stability in assessing firm value within a highly volatile industry. This study contributes to the literature by providing sector-specific evidence and refining signaling theory, demonstrating that the effectiveness of financial indicators as signals is context-dependent. The findings offer practical implications for managers, investors, and policymakers in formulating more resilient financial and investment strategies.
From Accountability to Trust: Strengthening Zakat Institutions in Emerging Economies
Despite the substantial potential of zakat in Indonesia, limited trust among zakat payers (muzakki) remains a critical barrier to optimizing its collection and institutional effectiveness. This study examines the influence of internal control systems, zakat accounting standards, and human resource competence on muzakki trust, with accountability positioned as a moderating variable. Grounded in Sharia Enterprise Theory and governance perspectives, this research adopts a quantitative approach using survey data collected from 102 employees of zakat institutions, including BAZNAS and LAZNAS. Data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) to evaluate both measurement and structural models. The findings reveal that internal control systems, zakat accounting standards, and human resource competence each have a positive and statistically significant effect on muzakki trust. Furthermore, accountability consistently strengthens these relationships, confirming its role as a critical reinforcing mechanism that enhances the effectiveness of governance practices. These results indicate that trust is not solely driven by religious obligation but is significantly shaped by stakeholders’ rational evaluation of transparency, professionalism, and institutional credibility. This study contributes to the literature on Islamic philanthropy and nonprofit governance by integrating multiple governance dimensions within a unified framework and positioning accountability as a moderating construct. The findings offer practical implications for zakat institutions and policymakers to strengthen governance structures, improve reporting quality, and enhance human resource capacity to foster sustainable public trust in emerging economies.
Big Data Integration in Auditing: Technological, Institutional, and Ethical Perspectives
The increasing adoption of Big Data technologies has significantly reshaped auditing practices; however, existing scholarship on Big Data auditing remains fragmented and lacks an integrated conceptual perspective. This study aims to systematically examine how Big Data influences audit practices and audit quality across technological, institutional, and epistemic dimensions. Using a Systematic Literature Review (SLR) based on the PRISMA protocol, this study synthesizes evidence from 30 peer-reviewed journal articles indexed in Scopus and Web of Science published between 2015 and 2025. The analysis identifies three dominant research clusters: (1) technological capability, reflecting the development of analytics-driven, continuous, and predictive auditing tools; (2) institutional readiness, highlighting regulatory gaps, organizational resistance, and skill asymmetry; and (3) epistemic transformation, concerning changes in professional judgment, algorithmic transparency, and accountability structures. The findings reveal a progressive datafication of auditing, characterized by a shift from traditional ex-post verification toward real-time and predictive assurance. Although Big Data improves audit efficiency, analytical scope, and risk detection capability, its implementation remains constrained by governance uncertainty and uneven organizational capabilities. To synthesize these insights, this study proposes the Big Data Auditing Framework (BDAF), which conceptualizes audit transformation as the dynamic interaction between Technological Infrastructure, Institutional Adaptation, and Epistemic Governance, moderated by Ethical and Regulatory Oversight. This framework contributes to the literature by offering an integrative perspective on how technological and institutional factors jointly shape the evolution of data-driven auditing and provides practical implications for regulators, educators, and audit firms in strengthening technological capacity, institutional preparedness, and ethical governance in digital audit environments.
Big Data Auditing; Epistemic Governance; Institutional Theory; Audit Digitalization; Ethical Accountability
Determinants of Muslim Taxpayer Compliance: The Moderating Role of Religiosity and the Integration of Zakat Knowledge
Taxpayer compliance remains a persistent challenge in Indonesia, particularly among Muslim taxpayers whose fiscal responsibilities coexist with religious obligations such as zakat. While prior studies have emphasized economic and administrative determinants, limited attention has been given to the integration of religious dimensions within a comprehensive compliance framework. This study aims to examine the effects of tax socialization, taxpayer awareness, tax sanctions, and zakat knowledge on taxpayer compliance, with religiosity positioned as both a direct determinant and a moderating variable. This study employs a quantitative explanatory approach using primary data collected from 120 registered Muslim individual taxpayers in Cilacap Regency, Indonesia, through purposive sampling. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to evaluate both direct and interaction effects among variables. The findings reveal that tax socialization, taxpayer awareness, tax sanctions, and zakat knowledge have positive and statistically significant effects on taxpayer compliance, with zakat knowledge emerging as the strongest predictor. Religiosity not only directly enhances compliance but also significantly strengthens the relationships between all key determinants and compliance behavior. These results indicate that compliance is shaped by the interaction between institutional mechanisms and internal moral–religious values. This study contributes to the tax compliance literature by proposing an integrative framework that incorporates zakat knowledge and religiosity within Attribution Theory. The findings provide practical implications for policymakers to design culturally and religiously aligned tax policies, emphasizing the importance of combining enforcement strategies with value-based approaches to enhance voluntary compliance in Muslim-majority contexts.
Tax compliance; tax socialization; taxpayer awareness; tax sanctions; zakat knowledge; religiosity;
Corporate Governance in Islamic Financial Institutions: Challenges and Opportunities
This study investigates the challenges and opportunities of corporate governance in Islamic Financial Institutions (IFIs) by employing a Systematic Literature Review (SLR) approach. Corporate governance in IFIs is distinct from conventional institutions due to the dual requirement of complying with international governance standards and Shariah principles. The review synthesizes findings from peer-reviewed articles published between 2019 and 2024 to provide a comprehensive understanding of the governance landscape in IFIs. The results highlight several persistent challenges, including the lack of standardization in Shariah Supervisory Board (SSB) practices, regulatory fragmentation across jurisdictions, and limited expertise among governance professionals. These challenges create inconsistencies in the effectiveness of Shariah governance and may undermine institutional credibility. However, the study also identifies considerable opportunities. Strengthening corporate governance enhances stakeholder trust, increases investor confidence, and positions IFIs as leaders in ethical and sustainable finance. Furthermore, the adoption of digital governance tools, such as blockchain and artificial intelligence, offers innovative solutions to improve transparency, accountability, and compliance monitoring. This study contributes to the literature by consolidating recent insights and proposing recommendations for harmonization, capacity building, and sustainability integration. It concludes that robust governance frameworks are critical for the long-term stability of IFIs and their role in advancing ethical finance aligned with the United Nations Sustainable Development Goals (SDGs).
The Influence of Whistleblowing, Forensic Accounting, Professional Skepticism, and Investigative Audits on Fraud Detection (A Study on Representatives of BPK and BPKP)
This study examines the impact of whistleblowing, forensic accounting, professional skepticism, and investigative audits on fraud detection in the public sector, with a specific focus on auditors at the BPK and BPKP Representative Offices in Riau Province, Indonesia. The research adopts a quantitative design, using primary data collected through questionnaires distributed to all 95 auditors, applying a saturated sampling technique. Data analysis was conducted using multiple linear regression with IBM SPSS version 30. The findings demonstrate that whistleblowing, forensic accounting, professional skepticism, and investigative audits each have a significant and positive effect on fraud detection. Among these, professional skepticism and forensic accounting practices were identified as particularly influential factors in enhancing the ability of auditors to uncover fraud. The theoretical contribution of this study lies in expanding the literature on fraud detection in the context of emerging economies, emphasizing the role of whistleblowing mechanisms, forensic accounting tools, and auditors’ professional judgment. From a practical perspective, the results underscore the importance of improving auditors’ competencies through continuous training, strengthening investigative audit procedures, and promoting organizational cultures that encourage whistleblowing. These findings provide valuable insights for policymakers, auditing institutions, and scholars interested in improving the effectiveness of fraud detection within government auditing bodies. Ultimately, the study highlights the need for integrated strategies that combine technical, ethical, and organizational elements to enhance audit quality and accountability in the public sector.
Implementation of Pesantren Accounting in the Preparation and Presentation of Financial Statements at SMP Pesantren Tarbiyah Takalar
This study investigates the implementation of pesantren accounting in the financial reporting practices of SMP Pesantren Tarbiyah Takalar. Using a descriptive qualitative design, the research aims to provide a comprehensive understanding of how pesantren accounting principles are applied within an Islamic educational institution. Data were collected through interviews, observations, and document analysis, utilizing both primary and secondary sources to ensure the validity and reliability of findings. The analysis process involved data reduction, data presentation, and conclusion drawing using narrative techniques. The findings reveal that the school’s financial statements are not fully compliant with pesantren accounting standards and do not meet the requirements of ISAK 35, which governs financial reporting for nonprofit organizations, including Islamic boarding schools. Significant gaps were identified in the classification of assets, liabilities, and net assets, resulting in incomplete and less transparent reporting. These findings highlight the need for capacity building and training in financial management to improve compliance with standardized accounting frameworks. Strengthening the preparation and presentation of financial reports is crucial for enhancing transparency, accountability, and stakeholder trust. This research contributes to the literature on Islamic accounting by providing empirical evidence on the challenges faced by pesantren-based institutions in adopting standardized financial reporting practices, supporting efforts to improve financial governance and the sustainability of Islamic education.
The Influence of E-Commerce Utilization and Accounting Information Systems on the Performance of Micro, Small, and Medium Enterprises (MSMEs)
Digital transformation is increasingly essential for Micro, Small, and Medium Enterprises (MSMEs) to remain competitive in a dynamic business environment. This study aims to analyze the effect of e-commerce adoption and the implementation of accounting information systems (AIS) on MSME performance in Kuningan Regency. A quantitative explanatory research design was employed using purposive sampling, involving 35 MSME owners and managers as respondents. Data were collected through structured questionnaires and analyzed using multiple linear regression with a 5% significance level in SPSS (version XX). The results reveal that e-commerce adoption has a significant positive effect on MSME performance (β = 0.45, p < 0.05), particularly in market expansion, service efficiency, and customer engagement. Similarly, AIS implementation shows a significant positive effect (β = 0.41, p < 0.05), supporting better financial transparency and decision-making. The combined adoption of both technologies provides a substantial contribution to improving overall business performance (R² = 0.62). These findings highlight the importance of digital tools for enhancing MSME productivity, sustainability, and competitiveness, offering valuable insights for business owners and policymakers aiming to accelerate digital transformation initiatives.
Digital Financial Literacy and Financial Inclusion: Visualizing Knowledge Networks through Bibliometric Analysis
This study examines the intersection of digital financial literacy and financial inclusion by employing a bibliometric approach to map global research trends, key contributors, and thematic developments in the field. Data were retrieved from the Scopus database, covering publications from 2012 to 2025, and analyzed using Biblioshiny in the R environment. Results reveal a substantial increase in research activity after 2018, reflecting growing academic and policy attention to the role of digital literacy in advancing inclusive finance. India, the United States, and China emerge as the most active contributors, highlighting the global relevance of this issue across both developed and developing economies. Thematic mapping identifies financial literacy, digital financial services, education, empowerment, and fintech adoption as central topics driving the discourse. Network analyses further demonstrate strong international collaborations and an evolving research structure that connects digital technologies, financial behavior, and socio-economic development. Despite these advances, challenges remain in bridging the digital divide, particularly for marginalized groups with limited access to technological infrastructure and financial education. This study contributes by providing a comprehensive overview of the knowledge network on digital financial literacy and inclusion, offering insights for policymakers, educators, and researchers. Strengthening digital financial competencies, supported by inclusive policies and collaborative scholarship, is critical for ensuring equitable access to safe and sustainable financial services in the digital era.
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Ethical Financing and Sustainability Practices in Islamic Banking Institutions
This study examines the integration of sustainability and ethical financing principles in Islamic banking institutions and their implications for financial performance, corporate reputation, and customer trust. Despite increasing global attention to sustainable finance, there remains limited understanding of how Islamic banks adopt and operationalize sustainability practices while addressing challenges such as regulatory constraints, resource limitations, and market competition. Adopting an interpretive paradigm and a case study approach, this research collected data through in-depth interviews with institutional managers and staff, complemented by document analysis of sustainability reports and policy guidelines. The results reveal that Islamic banks that actively implement sustainability and ethical financing practices demonstrate improved profitability, enhanced corporate reputation, and greater customer loyalty. Moreover, transparent sustainability reporting and accountability mechanisms strengthen stakeholder trust and align institutional practices with the broader objectives of Islamic finance, such as social justice and environmental stewardship. The findings highlight the importance of developing innovative Sharia-compliant products that integrate sustainability values to attract socially and environmentally conscious customers. From a theoretical perspective, the study contributes to the growing discourse on the intersection between Islamic finance and sustainable development. Practically, it provides implications for policymakers and practitioners to strengthen transparency, accountability, and innovation in Islamic banking operations. Future research is recommended to explore the role of emerging technologies, including fintech and digital platforms, in enhancing sustainability practices within the Islamic banking sector.
Pillars of Performance Improvement of Bawaslu Sidenreng Rappang Through Budget Accountability and Transparency
This study aims to analyze the effect of accountability and transparency on the performance of Bawaslu Sidrap in managing the 2024 election budget. The research employs a quantitative descriptive approach with an associative design. The population includes all employees of Bawaslu Sidenreng Rappang Regency involved in the 2024 general election, and data were collected through questionnaires distributed via Google Forms. The results indicate that accountability achieved 77%, transparency 74%, and performance 74%, exceeding the expected value of 65%. Correlation analysis demonstrates that both accountability (X1) and transparency (X2) have a strong and significant relationship with Bawaslu performance (Y), with Pearson correlation coefficients of 0.679 and 0.722, respectively. The t-test shows that accountability significantly influences performance (p = 0.028 < 0.05), whereas transparency does not show a significant effect (p = 0.62 > 0.05). The F-test results confirm that accountability and transparency simultaneously have a significant effect on performance, suggesting that the variables complement each other when assessed together. These findings underscore the importance of strengthening accountability mechanisms to enhance Bawaslu’s effectiveness in managing election budgets. Although transparency supports good governance, its independent effect on performance is limited. Therefore, integrated strategies focusing on accountability improvement are essential to optimize institutional performance and ensure credible and efficient budget management.
The Effect of Current Ratio and Debt to Asset Ratio on Net Profit Margin at PT Hutama Karya (Persero)
This study investigates the effect of the Current Ratio (CR) and Debt to Asset Ratio (DAR) on the Net Profit Margin (NPM) of PT Hutama Karya (Persero), a state-owned enterprise in Indonesia’s construction sector. Employing a quantitative associative research design, the study analyzes financial data extracted from audited annual reports covering 2014–2023. The variables examined include current assets, total liabilities, and net income after tax. Purposive sampling was applied to ensure the selection of relevant and complete data, while data analysis was conducted using SPSS software with a 5% significance level. The results reveal that CR and DAR, individually, do not significantly influence NPM. Furthermore, simultaneous testing confirms that both ratios collectively have no significant impact on profitability. The findings suggest that short-term liquidity and leverage are not primary determinants of net profit performance in PT Hutama Karya (Persero) during the observed period. This outcome may be attributed to the company’s long-term project investments, government-backed financing schemes, and operational strategies that prioritize large-scale infrastructure development over liquidity optimization. The study highlights the need for management to focus on operational efficiency, cost control, and effective project execution to enhance profitability. For future research, it is recommended to examine additional financial and operational variables, such as Return on Equity (ROE), Debt to Equity Ratio (DER), and Working Capital Turnover (WCT), to provide a more comprehensive understanding of profitability determinants in state-owned construction enterprises. These insights contribute to both academic literature on financial performance and practical decision-making in managing complex SOEs engaged in strategic national projects.
Evaluation of Debt Payment Procedures through Domestic Documentary Credit (SKBDN): A Case Study of PT Varia Usaha Beton
This study investigates the implementation of vendor debt payment procedures through Domestic Documented Credit Letters (SKBDN) at PT Varia Usaha Beton Sidoarjo. The purpose is to evaluate the effectiveness, efficiency, and challenges of SKBDN in supporting corporate payment systems. Data collection methods included observation, documentation, and semi-structured interviews with key personnel from the Treasurer Division. The findings show that SKBDN follows a structured process, beginning with document preparation, internal verification, managerial approval, and subsequent submission to the bank. This system provides a strong payment guarantee and strengthens internal financial control. However, its practical application remains less effective because fund disbursement requires up to six months, leading to delays in vendor transactions. The delays are primarily caused by document complexity, multi-level verification, and extended coordination between parties. Despite these drawbacks, SKBDN offers financial advantages since administrative costs and penalties are shifted to vendors, creating cost efficiency for the company. As a response to prolonged payment timelines, PT Varia Usaha Beton has considered adopting Supply Chain Financing (SCF), even though it involves higher costs. This study provides valuable insights for organizations evaluating debt payment systems, highlighting the importance of balancing timeliness, cost efficiency, and operational effectiveness.
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Digital Transformation of Public Sector Accounting: A Literature Review on Technology Adoption in Government Financial Reporting
The digital era has transformed public sector accounting, offering opportunities to enhance the quality, transparency, and accountability of government financial reporting through technologies such as artificial intelligence, blockchain, big data analytics, and cloud computing. Despite its potential, research gaps remain regarding the adoption and implementation of these technologies within the public sector. This study aims to examine the development of digital technology in government financial reporting, identify key challenges, and evaluate the impact of emerging technologies on accounting transformation. Using a qualitative approach, a systematic literature review was conducted covering studies published between 2020 and 2025 in Scopus, Web of Science, Google Scholar, and ScienceDirect. Thematic analysis was employed to identify patterns and trends. The findings highlight that technology adoption enhances efficiency, participation, and accountability but faces barriers such as system incompatibility, limited technical capacity, regulatory misalignment, and organizational resistance. The study concludes that digital transformation creates a disruptive yet strategic opportunity for public sector accounting, requiring a gradual and holistic approach. Policy implications include the need for regulatory harmonization, sustainable infrastructure investment, capacity-building programs, and a clear roadmap for technology adoption. This research contributes to the literature by providing an integrated framework for understanding digital transformation in government financial reporting.
Evaluating the Effect of Innovation Strategy on Customer Interest through the Memberku Application in Bakti Huria Syariah Cooperative
This study explores the implementation of innovation strategies at Bakti Huria Syariah Makassar Cooperative and examines their impact on members’ interest in using the Memberku digital application. The research focuses on three core aspects: the application of innovation strategies in developing the Memberku application, the supporting and inhibiting factors influencing implementation, and the effectiveness of these strategies in encouraging members to adopt digital cooperative services. A qualitative descriptive approach was employed to gain in-depth insights into these processes. Data were collected through observation, semi-structured interviews, documentation, and a comprehensive literature review. The IT Division of the cooperative served as the primary data source, providing critical information regarding system updates, user growth, and operational challenges. Data analysis was conducted in three systematic stages: data reduction, data presentation, and conclusion drawing. The findings indicate that the innovation strategy has been relatively effective in enhancing member engagement and promoting digital service adoption. Following a major system update in 2023, the cooperative recorded an increase of 300 new users, while the marketing team was tasked with acquiring at least ten additional users each month. Success was assessed through two key performance indicators: the number of active users and the volume of transactions through the application, both of which demonstrated significant growth. These results underscore the effectiveness of innovation strategies in driving the digital transformation of cooperative services.
The Influence of Distribution and Pricing on Purchase Decisions at the Sari Roti Outlet of PT Indosari Niaga Nusantara in Parepare
This study aims to determine whether Distribution and Price have a partial and simultaneous effect on the Purchase Decision of Sari Roti outlets at PT INDOSARI Niaga Nusantara Parepare. In this study, the population sampled consisted of 45 people. The research method used is data description with the help of Statistical Product and Service Solutions (SPSS) software version 25.The data collection methods used include Interviews, Documentation, and Observation. This research involves several tests, including Validity Test, Reliability Test, Multiple Linear Regression Analysis, as well as t-test (partial), F-test (simultaneous), and Coefficient of Determination (R²). These results indicate that Distribution (X1) has a significant partial effect on the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the t-count value of 2.677 > t-table value of 2.018 and a significance value smaller than 0.05 (0.000 ≤ 0.05). Price (X2) has a significant partial effect on the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the t-count value of 5.648 > the t-table value of 2.018 and a significant value of 0.000 ≤ 0.05. Distribution and Price simultaneously affect the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the calculated F value of 62.069 > the table F value of 2.83 with a significance value of 0.000 < 0.05.
Audit Fee Stickiness, CEO Narcissism, and Tax Avoidance in IDX-Listed Manufacturing Firms (2020–2022)
This study examines the relationship between audit fee stickiness, CEO narcissism, and tax avoidance in manufacturing firms listed on the Indonesia Stock Exchange (IDX) from 2020 to 2022. Audit fee stickiness occurs when changes in expected audit fees do not align proportionally with actual audit fee changes. CEO narcissism, characterized by excessive self-admiration and a strong desire for dominance, can influence corporate decision-making, including tax avoidance strategies. Tax avoidance, often viewed as strategic tax planning, aims to minimize corporate tax liabilities while complying with tax regulations. Using a quantitative approach, this study employs multiple regression analysis to assess the impact of CEO narcissism on tax avoidance and the moderating effect of audit fee stickiness. The findings indicate that narcissistic CEOs tend to engage in aggressive tax planning, increasing the likelihood of tax avoidance. Additionally, audit fee stickiness moderates this relationship, as firms with high audit fee stickiness exhibit lower levels of tax avoidance due to stronger auditor oversight. The study further reveals that tax savings from avoidance strategies affect cost stickiness, with implications for managerial decision-making. These results highlight the importance of understanding CEO personality traits in corporate governance and tax strategies. Regulators and auditors should consider CEO psychological factors when assessing tax compliance risks. Furthermore, firms should balance cost efficiency and ethical financial practices to maintain long-term sustainability and corporate reputation. This study contributes to the literature on tax avoidance, audit fee behavior, and the role of executive characteristics in financial decision-making.
TCWG on Cost of Equity with Audit Opinion as a Moderating Variable
This study examines the impact of the audit committee (AC) on the cost of equity (COE), with audit opinion (AO) as a moderating variable, in hotel and property sector companies listed on the Indonesia Stock Exchange from 2019 to 2023. Using a quantitative approach with panel data regression, the findings indicate that the number of audit committee members does not significantly affect COE. Furthermore, audit opinion fails to strengthen the relationship between the audit committee and COE, suggesting that investors do not fully consider these factors when assessing risks and expected returns. These results highlight the need for improving the quality and effectiveness of audit committees in overseeing financial reporting processes to enhance transparency and investor confidence. Additionally, firms should ensure that their financial statements reflect accurate and reliable information to mitigate investment risks. The study contributes to the literature on corporate governance by providing empirical evidence on the limited role of audit committees and audit opinions in influencing the cost of equity. From a practical perspective, regulators and corporate decision-makers should emphasize strengthening governance mechanisms beyond mere compliance with regulatory requirements. Enhancing financial disclosures and reinforcing the credibility of audit committees may help reduce perceived risks among investors, leading to lower capital costs. This study underscores the importance of transparency in financial reporting and the role of governance structures in shaping investor perceptions. Future research should explore other governance attributes, such as board independence and financial expertise, in influencing COE to provide a more comprehensive understanding of the determinants of equity financing costs.
Analysis of ESG Disclosure on the Firm Value in Banking Sector IDX 2020-2023
This study examines the impact of Environmental, Social, and Governance (ESG) disclosure on firm value in the banking sector listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023. Utilizing a quantitative approach, this research employs secondary data collected through purposive sampling, resulting in a sample of 80 banking companies that met specific ESG disclosure and financial reporting criteria. ESG disclosure data were obtained based on the Global Reporting Initiative (GRI) Standards, specifically GRI 300 (Environmental), GRI 400 (Social), and GRI 2 (General Disclosures), while firm value was measured using the Price-to-Book Value (PBV) ratio. Multiple regression analysis was conducted to assess the relationship between ESG disclosure and firm value. The findings reveal that environmental, social, and governance factors do not have a significant effect on firm value. This suggests that ESG disclosure in the Indonesian banking sector has not yet been a primary determinant of firm valuation, potentially due to factors such as limited investor awareness, weak regulatory enforcement, or prevailing market skepticism regarding the financial relevance of ESG initiatives. These results contribute to the existing discourse on sustainable banking by providing empirical evidence on the limited impact of ESG disclosure on firm value within the Indonesian banking sector. Furthermore, this study underscores the importance of regulatory bodies in promoting ESG disclosure as a key performance indicator for banking institutions. Future research could examine moderating factors such as financial performance, risk management strategies, or the effectiveness of corporate governance frameworks in strengthening the relationship between ESG disclosure and firm value. These insights are valuable for investors, policymakers, and banking institutions in optimizing ESG strategies to maximize firm value and ensure sustainable financial growth.