ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI PENERIMAAN OPINI GOING CONCERN PADA PERUSAHAAN MANUFAKTUR YANG MENGALAMI FINANCIAL DISTRESS DI BURSA EFEK JAKARTA

Abstract

The main purpose of this study is to examine the role of outside director audit committee in mitigat¬ing the independence of external auditor, basically in issuing the going concern audit report. In financial distress' company, the study found many indicator potentially going concern problem. Factors that were analyzed are the effect of outside director audit committee. debt default, financial condition. previous audit report. size and auditor scale on the probability of receiving going concern audit report in the financial distress company. Sample were gathered from 86 manufacturing companies which had financial distress that were pubficy listed in JSX in 2002 reporting period. 35 companies received going concern audit report (GC) and the rest. 51 companies received non going concern audit report (NGC). Zscore developed by Altman (1984) was used to calculate the extent of financial condition. Logistic regression was used to examine the factors that are predicted to affect the probability of receiving going concern audit report. This study reveals that debt default, financial condition and previous audit report are significantly affect the probability of receiving going concern audit report. The result is consistent with previous re-search (Careen° and Neal 2000: Chen and Church 1992) and also support the interview by Mulchler (1984) with auditors about debt default status as problematical indicators of going concern problem. However, the result of this study can not explain the presence of outside director audit committee in assisting the auditors to issue going concern audit report. This study contributes to the Bapepam in order to force the audit committee to be more independent in monitoring management's financial reporting process. Key words : Going concern audit report, outside director audit committee, financial distress, Zscore Altman. debt default.