International Journal of Business Marketing and Management (IJBMM)

Volume 7 Issue 3 May-June 2022, P.P. 51-58

ISSN: 2456-4559
www.ijbmm.com

The Role of the Reputation of the Public Accountant Firm

in Reducing Audit Delays in Companies Listed On the
Indonesia Stock Exchange
Heru Sulistiyo1 , Endah Susanti2 , & Agus Hariyanto3
1, 2 & 3
STIE Dharmaputra Semarang, Indonesia

Abstract: Late issuer conveys report finance audited on the Indonesia Stock Exchange in 2018-2020
experienced improvement, though there is policy add period time reporting. That is interesting for research to
find possible solutions to overcome problems. Study this aim test role moderation the reputation of public
accountant firm in reducing audit delay. The population study was companies listed on the Indonesia Stock
Exchange (IDX) in 2019-2020. Sample numbered 169 determined based on formula Slovin, with purposive
sampling technique. The analysis technique was used in moderated regression analysis with SPSS’22 program
assistance. The results show a moderation reputation of public accountant firm to size company no capable
reduces audit delay. Moderation of reputation of public accountant firm to profitability and solvency capable
reduce audit delay.

Keywords: Audit Delay, Profitability, Size, Solvency

I. INTRODUCTION
On the situation pandemic covid 19, Indonesian Stock Exchange issuers must convey report finance
audited no later than April 30 to June 30 the following year (OJK, 2020). Even though there is additional time,
the phenomenon of enhancement lateness delivery of report finance auditing still occurs. In 2018 26 companies
were late (IDX, 2019); in 2019, 42 companies were late (IDX, 2020), and in 2020 52 companies were late (IDX,
2021).
Audit delay in the whole day from end yearbook fiscal until with date audit reports (Ashton et al.,
1987). Research results before not yet give a conclusion general about factors that affect audit delay.
Akingunola et al. (2018), Fanny et al. (2019), Ustman (2020), and Laia et al. (2021) disclose the size company's
influential negative significance against audit delays. The bigger company will have more own source available
power used for processing information faster, so they do not experience obstacles in reporting, and then the
audit delay decreases. However, Bahri and Amnia (2020), Yuliastuty et al. (2018), Syachrudin and Nurlis
(2018), and Putra and Wilopo (2017) disclose size company does not influence audit delays.
Laia et al. (2021), Su'un et al. (2020), Fanny et al. (2019), and Syachrudin and Nurlis (2018) disclose
influential profitability negative against audit delays. Enhancement ability get profit (profitability) company will
respond positive market, so that management will attempt as soon as possible publish, then the audit delay
decreased. However, Akingunola et al. (2018) revealed that profitability is an influential positive to audit delays,
while Bahri and Amnia (2020) disclose that profitability is not influential against audit delays.
Primasari and Ghofirin (2021), and Bahri and Amnia (2020) disclose solvency's influential negative
significance against audit delays. Enhancement ability pay debt (solvability) will respond positive market
(Owolabi and Inyang, 2013), so management will attempt as soon as possible publish, with that is, the audit
delay could decrease. However, Riani and Wujarso (2021), Su'un et al. (2020), and Saragih (2019) are positive
significant, while Elani et al. (2021), Ustman (2020), Fanny et al. (2019), Syachrudin and Nurlis (2018), Putra
and Wilopo (2017) solvency no influential against audit delays.
Based on the phenomenon of lateness submission of audited financial reports and different research
results, interesting carried out research again and finding solutions to overcome these problems. This research
will propose moderating the reputation of public accountant firms. Connection proposed logic is a company
with increasing size, profitability and solvency of those audited by a reputable public accounting firm; the audit
delay will decrease. In general, reputable public accounting firms have adequate resources to conduct audits in a
timely and quality manner. The logic connection is also based results study before as follows:

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1. The reputation of public accountant firms moderates influences the size company to audit delay with
direction negative (Astuti and Puspita, 2020; Rosalia et al., 2019; and Ratnasari, 2018). Direction negative
indicates that auditor reputation can reduce the effect of firm size on audit delay.
2. The reputation of public accountant firms moderate influences profitability against audit delay with
direction negative (Elvienne and Apriwenni, 2020; Astuti and Puspa, 2020). The negative direction
indicates that the auditor's reputation can reduce the effect of profitability on audit delay.
3. The reputation of public accountant firms moderates influences solvency against audit delay with direction
negative (Elvienne and Apriwenni, 2020). The negative direction indicates that the auditor's reputation can
reduce the effect of solvency on audit delay.
Based on the phenomenon and research gap or different results studied before. Problems that will test
return is " what " reputation of public accountant firm capable moderate influence size company, profitability
and solvency, so the audit delay decreased?”.

II. REVIEW OF LITERATURE AND COLLECTING HYPOTHESES

2.1. The Effect of Firm Size on Audit Delay.
If the larger the company's size, the greater the resources (Choi et al., 2013). Company resources are
tangible and intangible assets (Wernerfelt, 1984). Resources: sophisticated information technology and
operating systems and skilled personnel are resources that allow the processing and producing information
quickly and accurately. So that business reporting can be presented in real-time. On the other hand, investors
closely monitor large-scale companies (Gustini, 2020). These two conditions make large companies publish
information about their performance quickly. The explanation this in line with study Akingunola et al. (2018),
Fanny et al. (2019), Ustman (2020), and Laia et al. (2021), who revealed that the size of a company is influential
negative significant in delaying audits. Connection negative indicates that the more big size company, then the
audit delay decreases because of the more big company own source sufficient power in processing information.
On base prediction, hypothesis 1(H1): size company influential negative to delay audits.
2.2. Effect of Profitability on Audit Delay.
Profitability reflects net return from all policy financing and decisions operations (Brigham and
Houston, 2009). Profitability tall is news good to interested parties because that information the will be
delivered more quickly (Fanny et al., 2019). Opinion the per results research by Laia et al. (2021), Su'un et al.
(2020), Fanny et al. (2019), and Syachrudin and Nurlis (2018) stated that profitability influential negative
significant against audit delays. Connection negative indicates enhancement profitability impact reduce audit
delay. Based on that, hypothesis 2 (H2): profitability is an influential negative to delaying audits.
2.3. The Effect of Solvency on Audit Delay.
Solvency is the company's ability to meet short- and long-term obligations (Jeleel and Olayiwola,
2017). Publishing debt in total big show signal positive investor confidence (Owolabi and Inyang, 2013), and
because of that, management will publish appropriate time. Explanation the in line with research conducted by
Primasari and Ghofirin (2021), and Bahri and Amnia (2020), which states that solvency influences negative
significant to delaying audits. Connection negative indicates enhancement solvency will reduce audit delay.
Based on that, hypothesis 3 (H3), solvency is an influential negative to delaying audits.
2.4. Reputation of Public Accountant Firm Moderate Influence Size Company Against Audit Delay.
Public accountant firms (PAF) whose own reputation will reduce the length of audit delay because they
own good finance to obtain material and human resources in completing audit procedures (Elvienne and
Apriwenni, 2019), so that report auditing can finish on time. On the other hand, more big companies will speed
up the drafting process of reporting finance audits because they are controlled strictly by investors and
authorities. So that the more big size company audited by the PAF reputable, then the audit delay will be the
more decreased. Prediction of the results of research by Astuti and Puspita (2020), Rosalia et al. (2019), and
Ratnasari (2018) reveal that PAF reputation moderates the effect of firm size on audit delay in a negative
direction. A negative direction indicates that PAF's reputation is capable lower the effect of firm size on audit
delay. On base prediction, then hypothesis 4 (H4): the reputation of a public accountant firm capable of
moderate influence size company to delay audits.
2.5. Reputation of Public Accountant Firm Moderate Influences Profitability Against Audit Delays.
Companies with high levels of profitability have high incentives to complete audit reports on their
finances fast. A company with the level of profitability tall could use an office accountant reputable public fine,
so it could complete more audits fast because the audit delay is reduced.
Election service PAFs reputed tend to be trusted by investors because they will do more audits good.
Research conducted by Elvienne and Apriwenni (2019) shows that with the use of reputable PAF services, time
faster audit completion. So that it can increase the impact of profitability on audit delay. Elvienne and

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The Role of The Reputation of The Public Accountant Firm In Reducing Audit Delays In Comp..

Apriwenni (2020) also revealed that PAF reputation moderates influence profitability against audit delay with
direction negative. A negative direction indicates PAF's reputation is capable lower the effect of profitability on
audit delay. On base prediction that then hypothesis 5 (H5): reputation of public accountant firm capable
moderate influence profitability to delay audits.
2.6. Reputation of Public Accountant Firm Moderate Influences Solvency Against Audit Delays.
Companies with a high solvency risk financial consequences and difficulty finance, so election PAF is
reputable to complete the audit report finance can be done effectively and efficiently. Besides, it has more
flexibility big for reducing untimely publishing report finance auditing. Elvienne and Apriwenni (2019) reveals
that the use of service office accountant reputable (PAF) could weaken the impact of solvency on audit delay.
Elvienne and Apriwenni (2020) disclose that PAF's reputation moderates the effect of solvency on audit delay.
The negative direction indicates that the auditor's reputation can reduce the effect of profitability on audit delay.
On base prediction then, hypothesis 6 (H6): the reputation of public accountant firm capable of moderate
influence solvency to delay audits.

Based on the above description, then could depict the framework think study as follows:
Figure 1. Research Framework
H1-
Size

H2-
Profitability (ROA) Audit Delay (AD)

H3-
Solvency (DER)
H4 - H5- H6-

Reputation PAF (REP)

Source: developed in the study this (2021)

III. RESEARCH METHOD.

Population in a study is companies listed on the Indonesia Stock Exchange (IDX) in 2019 amounted to
796 companies, and in 2020 there were 786 companies. Sample the number of 180 is determined based on
formula Slovin, while method take it with purposive sampling. However, after processing, 11 data were deleted
because they were categorized as extreme, so the last number that was processed was 169 samples.
Data obtained from publication reports on finance companies listed on the Indonesia Stock Exchange
(IDX) are accessed through IDX (Indonesia Stock Exchange), namely: www.IDX.co.id. The method used to
collect data in a study is documentation or studies library. As for technique analysis used is a pure moderated
interaction model and formulated as follows:
AD= α+β1 Size+β2 ROA+β3 DER+β4 Size*REP+β5 ROA*REP+β6 DER*REP+e
Description :
AD : Delay Audits, period time completion of the audit, from date year, closed book until
publication report finance audited by auditors (Ashton et al., 1987)
Size : Ln Assets (Akingunola, et al., 2018)
ROA : Profitability proxied Return On Assets (ROA)= profit divided by total assets in
percentage (Brigham & Houston, 2009)
DER : Solvency proxied Debt to Equity Ratio (DER)= debt shared equity (Brigham & Houston,
2009)
REP : The reputation of a Public Accountant Firm, measured with a dummy variable, to which
PAF is affiliated with PAF The Big Four given code 1, while PAF Non-Big Four given
code 0 (Aronmwan et al., 2013).
UP * REP : Interaction Among size companies with PAF's reputation
ROA * REP : Interaction Between profitability with PAF's reputation
DER * REP : Interaction Between solvency with PAF's reputation

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The Role of The Reputation of The Public Accountant Firm In Reducing Audit Delays In Comp..

IV. RESULTS AND DISCUSSION.

4.1. Assumption Test Results Classic Multiple Linear Regression.
Assumption tests for classic multiple linear regression include normality test, heteroscedasticity test,
multicollinearity test and autocorrelation test (Ghozali, 2018). Test the normality of the data using a histogram
graph with normal criteria; if the bar chart data is within the arch curve (Ghozali, 2018) results, the histogram
graph in figure 2 shows criteria so that the research data is normal.

Figure 2 Histogram Graph

Source: Secondary data processed (2021)

Free test heteroscedasticity use scatterplot graph with criteria if dot-dot spread above and below axis 0,
and not shape pattern certain, then the regression model free from the problem of heteroscedasticity (Ghozali,
2018), results in the scatterplot graph in figure 3 shows criteria, then the regression model free from the problem
of heteroscedasticity.
Figure 3: Scatterplot Graph

Source: Secondary data processed (2021)

Multicollinearity problem-free test use criteria the tolerance value is above 0.1, and the VIF value is
less than 10 (Ghozali, 2018); table 1 shows the criteria, then the regression model multicollinearity problem-
free.

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Table 1: Coefficients a

Unstandardized Standardized
Coefficients Coefficients Collinearity Statistics
Model B Std. Error Beta t Sig. Tolerance VIF
1 (Constant) 26,539 19,299 1.375 171
LN_UP .934 .723 .098 1,292 .198 .969 1.032
ROA 30,638 28,288 .088 1.083 .280 .836 1.196
DER .025 .827 .003 .030 .976 .694 1,440
UP_PAF .955 .306 .400 3.124 .002 .340 2,944
ROA_PAF -195.478 78.157 -.246 -2.501 .013 .575 1,740
DER_PAF -5.388 1,633 -.409 -3,300 .001 .361 2,771
a. Dependent Variable: AD
Source: Secondary data processed (2021)

Autocorrelation problem-free test use criteria Durbin Watson's value is between -2 and +2 (Santoso,
2018), and table 2 shows Durbin Watson's value is 1.236, so the regression model is free of autocorrelation
problems.

Table 2: Model Summary b

Adjusted R Std. An error in the
Model R R Square Square Estimate Durbin-Watson
a
1 .316 .100 .067 27,475 1,236
a. Predictors: (Constant), DER_REP, ROA_REP, LN_UP, ROA, DER, UP_REP

b. Dependent Variable: AD
Source: Secondary data processed (2021)

4.2. Model Feasibility Results.

Model feasibility test using criteria less sig value of 0.05 (Ghozali, 2018), and table 3 shows sig value
0.012 so that the regression model is worthy of using.
Table 3: ANOVA a
Model Sum of Squares df Mean Square F Sig.
1 Regression 14160,898 7 2022,985 2,676 .012 b
Residual 121727.350 161 756,070
Total 135888.249 168
a. Dependent Variable: AUDIT DELAY
b. Predictors: (Constant), DER_REP, ROA_REP, LN_UP, ROA, DER, UP_REP
Source: Secondary data processed (2021)

4.3. Hypothesis Test Results.

The MRA (Moderated Regression Analysis) test determines if variable moderation will strengthen or
weaken the connection between variable independent to variable dependent. MRA test results such as table 1
show:
1. Significance value size company (LN_UP) of 0.198 is greater than 0.05; then it is not significant, so the size
company is not influential to audit delay; thus, hypothesis 1 is rejected. This thing is because great size
company nor small have the same pressure on delivery report finance. Besides, the auditor has the
assumption that in the audit process, whatever total assets owned company will check in the same way,
appropriate with procedure auditing in Standard Professional Accountant Public (SPAP). Research results
from this are in line with research conducted by Bahri and Amnia (2020), Yuliastuty et al. (2018),
Syachrudin and Nurlis (2018), and Putra and Wilopo (2017), which state that the size company is not

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influential in delaying audits. However, the resulting study this opposite to research conducted by
Akingunola et al. (2018), Fanny et al. (2019), Ustman (2020), and Laia et al. (2021), which state that the
size company influences negative Delay Audits.
2. Significance value profitability (ROA) of 0.280 is greater than 0.05, then it is not significant, so profitability
is not influential to audit delay; thus, hypothesis 2 is rejected. This is because companies that have
profitability high or low no difference in audit completion. Every company will speed up publication report
finance. Because of the company's obligations and term-time same publication per set in authority. These
research results align with research conducted by Bahri and Amnia (2020), which states that audit delays do
not influence profitability. This is caused by the audit process company with a low profitability margin is
not far different from a company with high-level profitability. In other words, that achievement profitability
no becomes an obstacle in the auditing process. However, research is the opposite with research conducted
by Laia et al. (2021), Su'un et al. (2020), Fanny et al. (2019), and Syachrudin and Nurlis (2018). They
stated that profitability is an influential negative against audit delays.
3. Significance value solvency (DER) of 0.976 is greater than 0.05, then it is not significant, so solvency is not
influential to audit delay; thus, hypothesis 3 is rejected. This is because the level of debt or high obligation
no always impacts negatively to company. Because if the company could manage debt with a good,
efficient, and precise target, then the company's profit will be permanent good and not will become a
problem difficulty for internal finance company (Wardani et al., 2020). So that in the audit process carried
out, no will slow down publication report finance. The appointed auditor is already prepared enough time to
implement the audit process. Study this in line with research conducted by Elani et al. (2021), Ustman
(2020), Fanny et al. (2019), Syachrudin and Nurlis (2018), and Putra and Wilopo (2017), which states that
solvency no influential against audit delays. However, research this not in line with research conducted by
Primasari and Ghofirin (2021), and Bahri and Amnia (2020), which states that solvency is an influential
negative against audit delays.
4. Significance value interaction size company*PAF reputation (UP_REP) of 0.002 smaller than 0.05, it is
significant, however coefficient regression marked positive, so that reputation office accountant public
precisely strengthen enhancement influence size company to audit delay, with thus hypothesis 4 is rejected.
Enhancement audit delay is possible because the company scale big own complex operations and
information, then need longer audit times. Study this in line with Elvienne and Apriwenni (2020) research,
which states that PAF 's reputation cannot moderate influence the size company against audit delays.
However, the study this not in line with research conducted by Astuti and Puspita (2020), Rosalia et al.
(2019), and Ratnasari (2018), which states that PAF's reputation is capable of moderate influence the size
company against audit delays.
5. Significance value interaction profitability*PAF reputation (ROA_REP) of 0.013 more small than 0.05,
then significant, coefficient regression marked negative, so that reputation office accountant public capable
weaken influence profitability to audit delay, with thus hypothesis 5 is accepted. It has caused because a
company with profitability height also has incentive taller for complete report the audit faster. Election
office accountants the public who could give service best for guard trust and satisfied clients. Because if
profitability something company height, that is news good (good news) for holder stock, so should be
published with soon Likewise the use of office accountant reputable public will add trust user report
finance. Study this in line with research conducted by Elvienne and Apriwenni (2020), and Astuti and
Puspa (2020), which states that the reputation of office accountants is public capable of moderate influence
profitability against audit delays.
6. Significance value interaction solvency*PAF reputation (DER_REP) of 0.001 smaller than 0.05, then
significant, coefficient regression marked negative, so that reputation office accountant public capable
weaken influence solvency to Audit Delay, with thus hypothesis 6 is accepted. Publishing debt in total big
show signal positive to investor confidence, in addition to that use office accountant public give investor
confidence, because that very maybe audit delay decreased. Research results from this are in line with
research conducted by Elvienne and Apriwenni (2020) which states that the reputation of office accountants
public capable of moderate influence solvency against audit delays.

V. CONCLUSION
Conclusion: This is a partial-sized company, profitability and solvency are not influential in delaying
audits. Reputation public accountant firms are not capable of moderate influence size companies to delay audits.
Reputation public accountant firm capable of moderate influence profitability to delay audits. Reputation public
accountant firm capable of moderate influence solvency to delay audits.
Limitations of study this is period of research user only two years, namely 2019-2020, and the adjusted
R square value in the study is only 6.7%, meaning that the independent variables (company size, ROA and
DER) are only able to explain 6.7% of variation audit delay, while the remaining 93.3% is explained by other

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variables that do not include in models. Based on base limitations, the next recommended study could add
period research and other variables affecting audit delay.
Research results in this support the signalling theory, proving that the reputation of public accountant
firms capable of moderate influence profitability and solvency on audit delay so that audit delay can decrease.
Practical results in a study are expected to benefit leadership public accountant firms for guard reputation
because proven could reduce audit delays. Likewise, issuers and investors should notice the reputation of public
accountant firms in the implementation of financial statement audits.

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