Audit Interpretation of Presidential and Vice-Presidential Campaign Finance Reports
DOI:
https://doi.org/10.12928/jreksa.v12i2.13949Keywords:
Campaign finance audit, electoral transparency, credibility theory, Indonesian presidential electionAbstract
This study critically examines the implementation and interpretation of campaign finance audits in Indonesia’s 2024 presidential and vice-presidential elections. The evaluation is grounded in KPU Regulation No. 18 of 2023 and Assurance Engagement Standard SPA 3000 (Revised 2022) to assess compliance, ensure audit rigor, and enhance public assurance outcomes. Employing a descriptive qualitative approach, the study integrates document analysis, normative review, and comparative evaluation, drawing on audit reports, civil society findings, and international benchmarks. The findings reveal that although all candidate pairs received “Compliant Opinions,” significant deficiencies persist in audit planning, materiality assessment, and evidence collection. Public accounting firms demonstrated limited professional skepticism regarding unreported digital advertising expenditures. These gaps undermine the credibility and transparency expected of campaign audits and diminish their assurance value. Applying credibility theory, this study finds that current audit practices comply with formal regulations but fail to provide substantive public assurance. Limited public access to audit reports weakens democratic accountability, while comparative insights from U.S. practices highlight the need for digital verification, extended timelines, and full disclosure. The study contributes theoretically by extending credibility theory to political finance auditing and practically by offering policy recommendations to strengthen electoral audit credibility in emerging democracies.
References
Arsyad. (2024). Analysis of fulfillment of auditor requirements in conducting audits of election participants’ campaign fund reports. AKUNSIKA: Jurnal Akuntansi dan Keuangan, 5(2), 1–10. https://doi.org/http://dx.doi.org/10.31963/akunsika.v5i2.4635
Arsyad, M., & Natsir, S. (2024). The role of forensic accounting in improving audit quality. Proceedings of the International Conference on Applied Science and Technology on Social Science 2023 (iCAST-SS 2023). 903–908. https://www.atlantis-press.com/proceedings/icast-ss-23/125998215
Arsyad, M., Natsir, S., & Abidin, D. (2025). The analysis of audit procedures for the 2024 election contestants’ campaign fund reports. OPSearch: American Journal of Open Research, 4(7). https://doi.org/10.58811/opsearch.v4i7.200
Bowen, G. A. (2009). Document analysis as a qualitative research method. Qualitative Research Journal, 9(2), 27–40. https://doi.org/10.3316/QRJ0902027
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa
Cohen, L., Manion, L., & Morrison, K. (2007). Research methods in education. Routledge. https://doi.org/10.4324/9780203029053
Cordery, C., Arora, B., & Manochin, M. (2023). Public sector audit and the state’s responsibility to “leave no-one behind”: The role of integrated democratic accountability. Financial Accountability and Management, 39(2). https://doi.org/10.1111/faam.12354
Council of Europe. (2022). Tackling the risk for democracy of digital political campaigning: Council of Europe issues guidelines. https://www.coe.int/en/web/portal/-/tackling-the-risks-for-democracy-of-digital-political-campaigning-council-of-europe-issues-guidelines
De Simone, L. , Ege. M. S. , & Stomberg, B. (2015). Internal control quality: the role of auditor-provided tax service. The Accounting Review 90 (4): 1469–1496. https://doi.org/10.2308/accr-50975
Denzin, N. K. (2017). Sociological Methods. Routledge. https://doi.org/10.4324/9781315129945
Djuyandi, Y., & Herdiansah, A. G. (2018). Political participation of youth in the West Java regional election (pilkada) in 2018. Jurnal Bina Praja, 10(2 SE-Articles), 195–207. https://doi.org/10.21787/jbp.10.2018.195-207
Edelson, L., Sakhuja, S., Dey, R., & McCoy, D. (2019). An analysis of United States online political advertising transparency. https://arxiv.org/abs/1902.04385
Federal Election Commission. (2024). Introduction to campaign finance. https://www.fec.gov/introduction-campaign-finance/
Griffith, E. E., Hammersley, J. S., Kadous, K., & Young, D. (2015). Auditor mindsets and audits of complex estimates. Journal of Accounting Research, 53(1). https://doi.org/10.1111/1475-679X.12066
Handayati, P., Tham, Y. H., Yuningsih, Y., Rochayatun, S., & Meldona. (2022). Audit quality, corporate governance, firm characteristics, and CSR disclosures—Evidence from Indonesia. Journal of Corporate Accounting & Finance, 33(3), 65–78. https://doi.org/10.1002/jcaf.22548
Haruna, H., & Madalina, M. (2023). Analisis implementasi anggaran pendapatan dan belanja negara (APBN) sebagai sumber keuangan utama dalam pendanaan kampanye partai politik peserta pemilihan umum. Res Publica: Jurnal Hukum Kebijakan Publik, 7(2). https://doi.org/10.20961/respublica.v7i2.51859
Hayes, R., Dassen, R., Schilder, A., & Wallage, P. (2005). Principles of auditing: An introduction to international standards on auditing. www.booksites.net/hayes
IAASB. (2021). International Standard on Assurance Engagements (ISAE) 3000 (Revised). In International Auditing and Assurance Standard Board. Internal Federation of Accountant (IAFC).
IAPI. (2022). Standard Perikatan Asurans (SPA) 3000 Revisi. Institut Akuntan Publik Indonesia. http://www.iapi.or.id
ICW, P. (2023). (Masih) Basa basi laporan awal dana kampanye Indonesia corruption watch (icw) perkumpulan untuk pemilu dan demokrasi perludem. https://antikorupsi.org/sites/default/file/dokument/201223
Idowu, E., & Patani, E. (2021). Audit and the role of auditing: An exposition of the underpricing theories. Test Engineering and Management, 84, 226–248. https://www.researchgate.net/publication/360720143_Audit_and_the_Role_of_Auditing_An_Exposition_of_the_Underpinning_Theories
Ilham, & Hasba, I. B. (2023). Sumbangan dana kampanye pada pemilu 2024 (analisis regulasi kepemiluan di indonesia). UNES Law Review, 6(1). http://etheses.uin-malang.ac.id/60280/2/200203110007.pdf
Indonesian Public Accountant Professional Standards Council. (2022). Standar Perikatan Asurans (SPA) 3000 (Revisi 2022) “Perikatan Asurans Selain Audit atau Reviu atas Informasi Keuangan Historis” – IAPI. https://iapi.or.id/spa3000-revisi2022/
Kurniawan, B. (2023). The role of regional general election commission to prevent null vote: challenges and opportunities. Jurnal Kajian Pembaruan Hukum, 3(2). https://doi.org/10.19184/jkph.v3i2.42103
Novianty. (2020). Sebuah jurnal audit audit plan, audit program dan audit prosedur pada harta, utang dan modal. Jurnal Akuntansi Kajian Ilmiah Akuntansi (JAK), 7(2). https://doi.org/10.30656/jak.v7i2.2204
Nugraha, W. (2023). Legal protection of candidate head of regions in the general election process based on supreme court decision number 1 P/PAP/2021. Journal of Social Research, 2(9), 3275–3290. https://doi.org/10.55324/josr.v2i9.1389
OECD. (2022). Ensuring transparency and integrity in public decision making and electoral processes in the State of Mexico. In OECD Working Papers on Public Governance. https://doi.org/10.1787/1e941710-en
PKPU Number 18 of 2023 Concerning general election campaign funds, komisi pemilihan umum 397 (2023). https://jdih.kpu.go.id/data/data_pkpu/2023pkpu018.pdf
Rajab, A. (2018). Act Number 7 Of 2017 on General election for securing free, fair, and peaceful general election for national stability and prosperity. Indonesian Law Journal, 11(7), 45–62. https://ejournal.bphn.go.id/index.php/ILJ/article/view/39%0Ahttps://ejournal.bphn.go.id/index.php/ILJ/article/download/39/18
Ramadhan. (2023). Faktor-faktor yang mempengaruhi kualitas audit dana kampanye partai politik. Jurnal Pendidikan Tambusai, 7(3), 26930–26943. https://doi.org/https://doi.org/10.31004/jptam.v7i3.10970
Rezaee, Z. (2005). Causes, consequences, and deterrence of financial statement fraud. Critical Perspectives on Accounting, 16(3). https://doi.org/10.1016/S1045-2354(03)00072-8
Said, A., Herawati, R., & Diponegoro, U. (2024). Development of regulations on factual actions post-law on government administration: 2024 election process dispute study in casu prima political party. Yudisia 15 (1) 46–59. https://doi.org/http://dx.doi.org/10.21043/yudisia.v15i1.22110
Sanjaya, A. W. (2023). Intersect of money laundering and electoral crimes in the context of election campaign finance. The Intersect of Money Laundering and Electoral Crimes in the Context of Election Campaign Finance, 2(1), 35–44. https://doi.org/10.59593/amlcft.2023.v2i1.70
Setiawan, H. B., & Maryanah, T. (2022). Optimalisasi laporan dana kampanye untuk meningkatkan transparansi dan akuntabilitas dalam pemilihan serentak tahun 2024. Nusantara: Jurnal Ilmu Pengetahuan Sosial, 9(4).
Setiawan, S., Carolina, Y., Kristiani, A., & Maranatha, U. K. (2020). The effect of auditor’s competence and independence on information system audit quality. asia pacific fraud journal, 5(2), 183–190. https://doi.org/10.21532/apfjournal.v5i2.155
Sugiyono. (2022). Metode Penelitian kualitatif (untuk penelitian yang bersifat: eksploratif, enterpretif, interaktif dan konstruktif). Metode Penelitian Kualitatif. opac.stainkepri.ac.id/index.php?p=show_detail&id=4604
Suwarno, T. E., Laoli, V., Prabowo, K. T., Rizka, N. R., & Ulfida, D. (2025). A Meta-analytic study on audit fees and audit quality in Indonesia. Quantitative Economics and Management Studies, 6(2), 166–175. https://doi.org/10.35877/454RI.qems3843
Taufan, S., & Pujiyanto, R. (2019). Direct election of president and vice president in a Pancasila perspective. Jurnal Cita Hukum, 7(3), 417–430. https://doi.org/10.15408/jch.v7i3.13720
U.S. Office of Government Ethics. (2024). Financial disclosure resources for presidential and vice presidential candidates. https://www.oge.gov/web/oge.nsf/resources_presidential_vp_candidates
Usman, A. S., & Audu, P. (2021). Triangulation approach to research in accounting and finance. International Journal of Accounting Research, 6(2), 55–57. https://doi.org/10.12816/0061254
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Muhammad Arsyad, Sukriah Natsir, Zoel Dirga Dinhi
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
- Authors retain copyright and grant the JURNAL REKSA right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share (copy and redistribute the material in any medium or format) and adapt (remix, transform, and build upon the material) the work for any purpose, even commercially with an acknowledgment of the work's authorship and initial publication in JURNAL REKSA.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in JURNAL REKSA.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
