Proceedings of The First International Conference on Financial Forensics and Fraud, ICFF, 13-14 August 2019, Bali, Indonesia

Research Article

Analysis of Sharia Banking Financial Fraud using Beneish Ratio and Sharia Compliance Ratio

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  • @INPROCEEDINGS{10.4108/eai.13-8-2019.2294262,
        author={Rudy Mikiyanto Kusumo and Tarjo  Tarjo and Bambang  Haryadi and Moh. Nizarul Alim and Prasetyono  Prasetyono and Rita  Yuliana and Daisar  Rahman},
        title={Analysis of Sharia Banking Financial Fraud using Beneish Ratio and Sharia Compliance Ratio},
        proceedings={Proceedings of The First International Conference on Financial Forensics and Fraud, ICFF, 13-14 August 2019, Bali, Indonesia},
        publisher={EAI},
        proceedings_a={ICFF},
        year={2020},
        month={5},
        keywords={fraud beneish sharia compliance},
        doi={10.4108/eai.13-8-2019.2294262}
    }
    
  • Rudy Mikiyanto Kusumo
    Tarjo Tarjo
    Bambang Haryadi
    Moh. Nizarul Alim
    Prasetyono Prasetyono
    Rita Yuliana
    Daisar Rahman
    Year: 2020
    Analysis of Sharia Banking Financial Fraud using Beneish Ratio and Sharia Compliance Ratio
    ICFF
    EAI
    DOI: 10.4108/eai.13-8-2019.2294262
Rudy Mikiyanto Kusumo1,*, Tarjo Tarjo1, Bambang Haryadi1, Moh. Nizarul Alim1, Prasetyono Prasetyono1, Rita Yuliana1, Daisar Rahman1
  • 1: University of Trunojoyo Madura
*Contact email: rudy.kap.er@gmail.com

Abstract

The concept of Sharia is recently growing in Indonesia. It offers sharia compliance and Islamic values in company management. Therefore, the Islamic concept applied in Islamic banks is inseparable from fraud. 99 % of BPR /BPRS liquidation cases are caused by fraud (Kompas, 2017).This research was descriptive. Data were taken from Financial Statements of Sharia Rural Banks (BPRS) HA on 2013 -2015. In addition, the data collection used documentation method while the analysis used Ratio Index. The classification of Sharia Rural Banks (BPRS) HA during 2013 to 2015 based on Beneish ratios revealed that, in that period, the Sharia Rural Banks (BPRS) HA were classified as a non-manipulator. Results of research indicate that these are classified as non-manipulators, however the DSRI, AQI, SGI, DEPI and profit sharing ratios prove that there is a fraud in the financial statements. These ratios can be used as a tool to detect fraud on Sharia Banks' financial statements.