Audit Opinion: Model Value of the Firm State-Owned Business Enterprises Indonesia

Abstract

This study aimed to assess and analyzed the influence of micro and macro fundamental, ownership structure, financial performance, and auditor's opinion on the value of the company in State Owned Enterprises considering that 51% of shareholding is fully owned and controlled by the government so management has some rights in decision making. The interest of researchers in observing State Owned Enterprises on interest ownership interest in investors and potential investors compared to private companies that fluctuate in accordance with state economic conditions and government decisions that provide sentiment for stocks. Research population at 20 State Owned Enterprises listed on Indonesia Stock Exchange. This research method used purposive sampling with 12 companies in 2010-2015. Data analysis techniques in this study used Partial Least Square consists of Inner model, Outers model, and Weight relation. The result of analysis of hypothesis test of research showing all test accepted with significant level 5% influence equal to 1.960 except macro fund influence 0.0031421 and not significant equal to 1.914374 so rejected (H5) and macro fundamentals have effect 0.040271 and not significant equal 1.674420 thus rejected (H7).

Internal Audit of Cupak Village Fund Budgetting Process, Nguskan, Jombang

“…(6) The remaining Village Funds for the 2021 fiscal year in the RKD as referred to in paragraph {l) letter e, are budgeted again in the next fiscal year by the Village head and recorded by the regent/mayor in the online monitoring application for the state treasury and budget system. (7) In the event that re-budgeting by the Village head and recording by the regent/mayor as intended in paragraph ( 6) is not implemented, the remaining Village Funds for the 2021 fiscal year in the RKD as intended in paragraph 1 letter c are taken into account in the distribution of Village Funds phase II and /or phase III for the 2022 fiscal year. (8) In the event that the Village Fund phase II for the 2022 fiscal year as referred to in paragraph (2) and paragraph ( 7) is insufficient, the remaining difference in Village Funds is calculated in the distribution of Village Funds for phase II and/or phase III for the 2023 fiscal year.…”

“…(7) In the event that re-budgeting by the Village head and recording by the regent/mayor as intended in paragraph ( 6) is not implemented, the remaining Village Funds for the 2021 fiscal year in the RKD as intended in paragraph 1 letter c are taken into account in the distribution of Village Funds phase II and /or phase III for the 2022 fiscal year. (8) In the event that the Village Fund phase II for the 2022 fiscal year as referred to in paragraph (2) and paragraph ( 7) is insufficient, the remaining difference in Village Funds is calculated in the distribution of Village Funds for phase II and/or phase III for the 2023 fiscal year. (9) The remaining amount of Village Funds for the 2022 budget year in the RKD as referred to in paragraph (1) letter f, can be budgeted again in the next budget year by the Village head and recorded by the regent/mayor in the online monitoring application for the state treasury and budget system.…”