Effect of Financial Distress, Debt Default, Audit Delay and Leverage on Going Concern Audit Opinions on Textile and Garment Subsector Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2017-2019 Period

This study examines effect of financial distress, debt default, audit delay and leverage on going concern audit opinions on Textile and Garment Subsector Manufacturing Companies listed on the Indonesia Stock Exchange for the 2017-2019 period. This research uses descriptive quantitative research. The sample of this research is 51 samples. Data processing using logistic regression analysis. The results of the research show that financial distress, debt default, audit delay and leverage have no effect on going concern audit opinions on Textile and Garment Subsector Manufacturing Companies listed on the Indonesia Stock Exchange for the 2017-2019 period. Keywords: Financial Distress, Debt Default, Audit Delay, Leverage, Going Concern Audit Opinions.

The Effect of Company Size, Company Growth, Financial Conditions, Debt Default And Audit Opinion 2016-2019 on Going Concern Audit Opinions (Empire Study of Trading Companies Listed on The Indonesia Stock Exchange)

The purpose of this study is to see the effect of company size, company growth, financial condition and debt default on going concern audit opinions in 2016-2019 on trading companies listed on the Indonesia Stock Exchange, both partially and simultaneously. Every company has financial statements that aim to provide information regarding the financial position of a company that is useful for a large number of users of financial statements in making economic decisions which are prepared periodically for interested parties. The population in this study has all trading companies listed on the IDX for the 2016-2019 period, which are 47 companies and the sample is 100 units of analysis. The research method applies multiple logistic regression analysis techniques. The results of the study show that the company size variable partially influences the going concern audit opinion on trading sector companies listed on the Indonesia Stock Exchange for the 2016-2019 period. Variables of company growth, financial condition and debt default partially do not affect going concern audit opinion on trading sector companies listed on the Indonesia Stock Exchange for the 2016-2019 period. Variables Company Size, Company Growth, Financial Condition and Debt Default together affect the going concern audit opinion on trading sector companies listed on the Indonesia Stock Exchange for the 2016-2019 period.

Research on the Debt Default Risk of Guangyi Technology

In the process of production and operation, the funds held by enterprises often do not meet the needs of the expanding production scale, so enterprises usually obtain the required funds by borrowing. However, the financing mode of enterprises is not only limited to borrowing from banks or other financial institutions. With the rapid economic development and the continuous activity of the capital market, the bond market has gradually become an important channel for enterprise financing [1]. In order to improve the layout of the industrial chain, Guangyi Technology has carried out continuous mergers and acquisitions (M&A) since 2013. Due to its limited funds, Guangyi Technology acquired a large amount of funds required for M&A by means of equity pledge. However, the copyright cloud project invested in M&A in the early stage did not achieve the expected results, leading to a frequent breach of equity pledge, which evolved into debt defaults. Therefore, this article takes Guangyi Technology as the research subject and puts forward relevant avoidance suggestions through the evaluation of its debt default risk.

The Corporate Rescue for Companies during the COVID-19 Pandemic in Indonesia: Prospects for the Concept of Deeds of Arrangement and Administration Order

The COVID-19 pandemic has an impact to all countries, including Indonesia. This raises the problem of debt default. Rather than bankruptcy and suspension of payment (PKPU), it is better to look an alternative that become a savior for the company. This research explores the concept of Deeds of Arrangement and Administration Order according to United Kingdom law, and looking at the prospects for the concept of Deeds of Arrangement and Administration Order for Indonesia. It is a normative juridical research, and it was processed with a qualitative approach supported by a comparative legal analysis. The conclusions of this research show that the concepts of the Deeds of Arrangement and Administration Order are similar to the bankruptcy and PKPU schemes also have differences. The differences on the Deeds of Arrangement are how to register, the agreement is passed on a non-litigation basis and determined by the court, and no publication is required. The differences on the Administration Order is the mandatory debtor's company management taking-over, the applicants, the administrators which can be appointed outside the court without court approval, and the administrator will make a corporate rescue proposal. The concept of the Deeds of Arrangement which is a contractual non-litigation and the Administration Order which provides a better corporate management role, is the right solution during the COVID-19 pandemic rather than bankruptcy and PKPU, as well as other litigation. The temporary character of the COVID-19 pandemic condition is the basis of this thought, so a solution concept that leads to maximization of the corporate rescue rather than liquidation, is needed.

Effect of Debt Default, Disclosure, and Financial Distress on the Receiving of Going Concern Audit Opinions

The research aimed to investigate the impact of debt default, disclosure, and financial distress on the acknowledgment of going concern audit opinion in manufacturing companies. The research uses a quantitative type of data complimented with secondary data retrieved from the official website of Indonesia Stock Exchange. The data used in this research from the purposive sampling method with 108 samples, consisting of 36 manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018. The research uses the logistic regression as the data analysis method with several statistical tests which include descriptive statistics, multicolinearity, fit test goodness, etc. The results show that only financial distress influences the acknowledgment of going concern audit opinion, while other independent variables such as debt default and disclosure do not affect the acceptance of going concern audit opinion. The research is limited since it only refers to the manufacturing industry sector. Therefore, it is suggested that future research expand the scope by obtaining more firms’ sample from industrial sectors and using other independent variables to achieve a more accurate results.

PENGARUH FINANCIAL DISTRESS, DEBT DEFAULT, DAN AUDIT TENURE TERHADAP PENERIMAAN OPINI AUDIT GOING CONCERN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) TAHUN 2015-2017

Manufacturing companies are a sector that is quite important for the development of the country's economy. In Indonesia, there are more companies in the manufacturing sector listed on the Indonesia Stock Exchange (IDX). With this larger number of companies, companies in the manufacturing sector have significant industrial influence as well as significant stock fluctuations on the IDX. The purpose of this study aims to analyze the effect of financial distress, debt default, and audit tenure on going concern audit opinion. To support this research, the author uses a sample of manufacturing companies listed on the Stock Exchange as the object of research. From the results of observations for 3 years, namely from 2015 - 2017, 28 samples were obtained to be studied according to the observation period so that the number of units of analysis was equal to 84. Based on tests carried out using logistic regression, empiricalevidence was obtained that the financial distress variable had a positive influence. which is significant to the acceptance of going concern audit opinion. The debt default variable has no significant effect on the going concern audit opinion acceptance. The Audit Tenure variable does not have a significant effect on the going concern audit opinion acceptance.

Analysis of Factor Affecting Going Concern Audit Opinion on Manufacturing Companies Sub Sector Food and Beverage Listed on the Indonesia Stock Exchange 2015-2019

This research aims to investigate the analysis of variables influencing the audit views on food and beverage manufacturing firms listed on the Indonesia Stock Exchange in 2015-2019. The study is proxied into five variables, namely debt default, corporate financial situation, corporate growth, corporate size, and audit quality. There were 31 food and beverage sub- sector manufacturing firms listed on the Indonesia Stock Exchange in 2015-2019. With purposeful sampling, the research sample became 16 companies with the following criteria: food and beverage sub-sector manufacturers listed on the Indonesia Stock Exchange for the period 2015-2019 and not listed after 1 January 2015, food and beverage sub-sector manufacturers whose financial statements were audited during the period 2015-2019 and an independent auditor was appointed. The research technique utilizes a quantitative way to analyze logistic regression. The findings revealed that a continuing financial situation influenced audit opinion, whereas debt default, business growth, company size, and audit quality had no ongoing impact on audit opinion. Simultaneously, debt default, financial situation, growth, size, quality have a major continuous impact on the audit opinion.