The Influence of Audit Quality, Financial Distress, Audit Tenure, Debt Default, and Audit Delay on Going Concern Audit Opinion (A Case Study on Transportation and Logistics Service Companies Listed on the Indonesia Stock Exchange in 2018-2022)

This research aims to examine the influence of Audit Quality, Financial Distress, Audit Tenure, Debt Default and Audit Delay on Going Concern Audit Opinions simultaneously and partially. This research is quantitative research. The population in this research is the Transportation and Logistics Sector Services companies listed on the Indonesia Stock Exchange (BEI) for the 2018-2022 period which have been audited totaling 36 companies. The sampling method was carried out using a purposive sampling method. The sample in this study was 17 companies over 5 years, so the total sample in this study was 85. The data analysis method used to test the hypothesis was descriptive statistics and logistic regression analysis using SPSS version 26 software. The results of this study indicate that Audit Quality, Financial Distress, Audit Tenure, Debt Default and Audit Delay simultaneously influence the Going Concern Audit Opinion. Meanwhile, partially Audit Quality and Audit Delay influence the Going Concern Audit Opinion. Financial Distress, Audit tenure, and Debt Default have no effect on Going Concern Audit Opinion.


Introduction
A going concern opinion is an opinion issued by an auditor to determine whether the company can continue as a going concern.Audit opinion on financial statements is one of the considerations for investors when making investment decisions.The assumption of business continuity or going concern is one of the assumptions that must be used by management in preparing and presenting financial reports.The financial condition of a company can reveal its true level of security, users of financial reports can analyze the financial health of a company and make predictions about the continuity of its business in the future.The company's financial condition influences the going concern audit opinion (Putra, Astuty and Sari, 2021).
Cases regarding going concern audit opinions occurred in the transportation sector in Indonesia, one of which was PT AirAsia Indonesia Tbk (CMPP), a transportation company in Indonesia which faced serious challenges in obtaining going concern audit opinions.The independent auditor's reports for 2019 and 2020 for PT AirAsia Indonesia Tbk (CMPP) indicate the existence of material uncertainties that could create significant doubt regarding the group's ability to maintain its operational continuity (Fitrawansyah, et al., 2023).
The going concern audit opinion was also experienced by one of the airline companies, namely Merpati Nusantara Airlines (Persero).After being declared bankrupt, PT Merpati Nusantara Airlines (Persero) or known as Merpati Airlines, was recorded as having debts worth IDR 10.9 trillion with negative equity reaching IDR 1.9 trillion based on the results of the 2020 financial report audit.This company was finally declared bankrupt by the Surabaya Commercial Court on June 2 nd , 2022 (Faruqi, 2022).
A similar phenomenon was also experienced by one of the largest transportation companies in Indonesia, namely PT.Garuda Indonesia.Tbk.It is recorded that many parties with debt claims have filed lawsuits against Garuda Indonesia in court due to several obligations that have not been settled for payment.Without reaching any agreement, Garuda's financial status could be at risk of bankruptcy and and possibly lead to insolvency (Idris, 2022).
Based on the results of research that has been done before, as well as the non-uniformity of the results of the research above, this study aims to examine more deeply the effect of audit quality, financial distress, audit tenure, debt default dan audit delay on going concern audit opinion on transportation and logistics service companies listed on the Indonesia Stock Exchange in 2018-2022.

Agency Theory
Agency theory is a contractual relationship where one or more shareholders (principal) ask management (agent) to carry out a number of tasks on behalf of the principal which involves delegation of authority and business decision making by management (Hamza et al., 2023).In agency relationships, problems arise, namely information asymmetry, information imbalance occurs because the agent as the manager of the company has more complete information than the principal (Jensen and Meckling, 1976).

Going Concern Audit Opinion
According to SPAP (2011), a going concern audit opinion is an audit opinion issued by the auditor because there is great doubt regarding the entity's ability to maintain its survival.The going concern opinion in the auditor's report is always the center of attention (Pratiwi et al., 2024).The main reason is already known business failure (i.e.bankruptcy) of companies that recently audited.This event has generated various proposals that could change auditing, national audit regulations, and the auditing market (Schaub, 2022).

Audit Quality
Audit quality is defined as the level of auditor's understanding capability in analyzing the client's company (Tarfin et al., 2023).High audit quality will assist financial statement users in making decisions because the information presented by the auditor is relevant, valid and reliable.Auditors are responsible for conveying information of the highest quality.Highquality auditors will confidently provide audit opinions that are of concern to companies experiencing issues related to business continuity uncertainty (Rahmawati and Darsono, 2022).

Financial distress
Financial distress can be defined as a complete display or condition of a company's finances during a certain period, described by experiencing negative net profit for several years which will ultimately lead to bankruptcy.Financial distress conditions in a company lead to negative cash flow, poor financial ratios, and failure to pay debts (Senjaya and Budiartha, 2022).

Audit Tenure
Audit tenure is the length of engagement between the auditor and the client company.Based on Government Regulation No.20 of 2015 and OJK No. 13/POJK.03/2017, it is stated that the KAP's engagement/contract period with clients is not limited.There are concerns about the disruptionof auditor independence if there is too much comfort between the auditor and the client during the engagement period, which could lead to a decline in auditor quality (Sari and Satyawan, 2022).

Debt default
Debt default is defined as the failure of the debtor (company) to repay principal and/or interest on time.The benefits of debt default status have been previously studied by Chen and Church (1992) who found a strong relationship between default status and going concern audit opinion.When the company's debt is very large, a lot of the company's cash flow will be allocated to cover its debt, which will disrupt the continuity of the company's operations.If the debt cannot be repaid, the creditor will grant default status.Default status can increase the possibility of the auditor issuing a going concern report (Agustina, 2020).

Audit Delay
Audit delay is a delay in completing the audit process, which is calculated from the closing date of the financial year to the signing of the audit report by the auditor.This delay has an impact on delays in the publication of audited Financial Reports, which can affect investors' perceptions of the company's condition (Chikita, et al., 2022).

Research Method
The type of research used in this research is quantitative.Quantitative methods are research methods that use data in the form of numbers and the collected data is analyzed using statistical formulations (Ghozali, 2021)..This research uses the literature study method and documentation method by collecting and reviewing secondary data in the form of financial reports of companies in the Transportation and Logistics sector services listed on the IDX for the 2018-2022 period.The population of this research was 36 companies.After carrying out the purposive sampling method, the research sample was 17 companies with 5 years of research.Therefor, the total sample is 85 samples.
The following is a table of operational variables in this research: Measured by the benchmark earnings surprise proxy: μσ < ROA < μ + σ  KA=1, if it meets the benchmark  KA=0, if it does not meet the benchmark The data analysis technique will be carried out using the logistic regression equation.Logistic regression is a type of regression that connects one or more independent variables with a dependent variable.This data analysis technique does not use normality tests and classical assumption tests on independent variables (Ghozali, 2021).

Descriptive Statistical Analysis
Descriptive statistical analysis is a test used to see statistical description of the independent variables and the dependent variable on a study.This analysis includes the number of samples (N), minimum value, value maximum, mean (mean), and standard deviation and frequency distribution for each variable used in the study.Source: Data processed by SPSS 26, 2024

Descriptive Statistical Test Results
The table above explains the results of descriptive statistical tests with an explanation of each variable as follows: 1.The average value of going concern audit opinion is 0.41 with a standard deviation of 0.495.This average value means that the number of companies experiencing a going concern audit opinion is 44%.The standard deviation value is 0.495, which means that the level of data distribution for the audit quality variable is 0.495 2. The average audit quality score is 0.41, which indicates that most of the sample companies in this study tend to have high audit quality scores.The standard deviation value of 0.495 is greater than the average value, so it can be concluded that the audit quality data is homogeneous.3. The financial distress variable has a minimum value of 0, which is a company with an S-Score > 0.862, while the maximum value for the financial distress variable is 1, which is a company with an S-Score < 0.862.The average financial distress calculation is 0.75, which is smaller than the standard deviation value of 0.434.4. The average audit tenure value in the table is 2.47 with a standard deviation of 1.368.The average audit tenure value is 2.47.This value means that the audit engagement period for the sample company is 2.47 or 2 years.The standard deviation value of 1.318 is smaller than the average value.5. Debt default has a minimum value of 0, and a maximum value of 1.This is because this variable is measured using a dummy variable with a value of 0 if the company does not experience a debt default and a value of 1 if the company experiences a debt default.The average value is 0.61, and has a smaller standard deviation value of 0.490.6.The minimum value of the audit delay variable is 33, while the maximum value of audit delay is 210.Based on the table, the average audit delay value is 101.72, which shows that the average company in the transportation and logistics sector experiences an audit delay of around 102 days.The standard deviation value of the audit delay variable is 31.635.
Because the average value is greater than the standard deviation, this result shows that there is good data distribution.

Logistic Regression Analysis
Logistic regression analysis is a test conducted to determine whether the probability of occurrence of the dependent variable can be predicted with the independent variable.In logistic regression analysis there are simultaneous and partial tests.Simultaneous testing on logistic regression, namely following the Chi-Square distribution, using the criterion of a significance value from the omnibus test of less than 0.05.Source: Data processed by SPSS 26, 2024 The table above shows that the difference value of -2 Log likelihood before the dependent variable enters the model minus -2 Log likelihood after the independent variable enters the model is 16.844 (115.174 -98.330).Chi-Square value 16.844 > Chi-Square table on df 5 (number of independent variables 5) namely 11.070 or with a significance of 0.005 < 0.05.This means that the addition of independent variables can have a real influence on the regression model, or in other words the regression model is declared fit.Thus, the variables audit quality (X1), financial distress (X2), audit tenure (X3), debt default (X4), and audit delay (X5) influence the Going Concern Audit Opinion (Y), so that H1 is accepted.
In testing the logistic regression model the independent variables are tested simultaneously, but interpretation of the model output can be done partially for each variable.Following are the results of the data significance test (partial test).Source: Data processed by SPSS 26, 2024 From testing the logistic regression equation, the following logistic regression model is obtained: Y = α + β1KA +β2FD + β3AT + β4DD + β5AD + € Y = -0,043 -1,931KA + 1,045FD -0,338AT -0,413DD + 0,016AD From the results of the regression analysis calculations, the interpretation of the regression coefficients can be explained as follows: 1.The intercept value of the regression equation above is -0.043 with an odds ratio value of 0.958.This means that the chance of a company getting a going concern audit opinion is 0.958 compared to the chance of a company not getting a going concern audit opinion assuming all independent variables have a value of 0. 2. The regression coefficient value of the audit quality variable is -1.931.This means that for every one unit increase in audit quality, the company's chance of getting a going concern audit opinion will decrease by 1.931 units assuming the other independent variables are considered constant.3. The regression coefficient value for the financial distress variable is 1.045 (positive).This means that for every one unit increase in financial distress, the company's chance of getting a going concern audit opinion will increase by 1.045 units assuming the other independent variables are 0. 4. The regression coefficient value of the audit tenure variable is -0.338.This means that for every one unit increase in audit tenure, the company's chance of getting a going concern audit opinion will decrease by 0.338 units assuming the other independent variables are considered constant.5.The regression coefficient value for the debt default variable is -0.413.This means that for every one unit increase in debt default, the company's chance of getting a going concern audit opinion will decrease by 0.413 units assuming the other independent variables are considered constant.6.The regression coefficient value of the audit delay variable is 0.016.This means that for every one unit increase in audit delay, the company's chance of getting a going concern audit opinion will increase by 0.016 units assuming the other independent variables are 0.

Conclusion
Based on the data that has been collected and the results of tests that have been carried out using the logistic regression test and the description of the discussion that has been explained previously, several things can be concluded as follows: 1. Audit quality, financial distress, audit tenure, debt default and audit delay simultaneously influence the Going Concern Audit Opinion; 2. Audit Quality influences Going Concern Audit Opinion; 3. Financial Distress has no effect on Going Concern Audit Opinion; 4. Audit Tenure has no effect on Going Concern Audit Opinion; 5. Debt Default has no effect on Going Concern Audit Opinion; 6. Audit Delay affects the Going Concern Audit Opinion.

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dummy method, Springate model calculations:  Value of 1, if S Score < 0,862 (financial distress). Value of 0, if S Score > 0,862 (not financial distress) interval scale.The first year of the engagement starts with 1 and increases by one for subsequent years.Companies with debt default status are given a dummy value of 1  Companies with no debt default status are given a value of number of days from the closing date of the financial yearthe date of publication of the independent auditor'of 0 if the company does not get a going concern opinion and 1 if the company gets a going concern opinion.NominalThis research uses a test model carried out with logistic regression analysis which is formulated as

Table of Omnibus
Tests of Model Coefficients

Table of
Variables in the Equation