Pengaruh Hal Audit Utama terhadap Risiko Financial Distress dengan Manajemen Risiko Menjadi Variabel Moderasi

Ignatius Loyola Galih Lintang Ardhyanta; Hendi Subandi

doi:10.30640/inisiatif.v5i2.6329

Authors

Ignatius Loyola Galih Lintang Ardhyanta Universitas Brawijaya
Hendi Subandi Universitas Brawijaya

DOI:

https://doi.org/10.30640/inisiatif.v5i2.6329

Keywords:

Agency Theory, Financial Distress, Key Audit Matters, Risk Management, Signaling Theory

Abstract

This study aims to analyze the effect of Key Audit Matters (KAM) on Financial Distress and to examine the role of risk management as a moderating variable in financial service sector companies listed on the Indonesia Stock Exchange (IDX) for the period from 2022 to 2023. KAM is expected to serve as a risk signal that reflects significant risks faced by companies. In contrast, risk management refers to the extent to which companies can identify and man-age risks in a systematic manner. Using a quantitative approach with purposive sampling, this study gathered 162 observations from 81 companies. Financial Distress was measured using the Grover model and analyzed through moderated regression analysis (MRA). The results indicate that KAM has a significant positive effect on Financial Distress, suggesting that the number of KAM disclosures is a reflection of the risk of corporate financial failure. However, the findings also reveal that risk management does not moderate the relationship between KAM and Financial Distress. This suggests that the KAM signal from auditors remains a strong indicator of potential Financial Distress, regardless of the level of risk management disclosure.

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