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Abstrak :
Penelitian kali ini menginvestigasi pengaruh kebijakan pengelolaan modal kerja terhadap profitabilitas dan nilai pasar sebuah perusahaan. Dengan menggunakan data panel untuk periode tahun 2008-2011, penulis akan mengevaluasi bagaimana pengaruh agresivitas kebijakan investasi dan pendanaan modal kerja terhadap return on assets dan Tobin?s q yang merupakan ukuran profitabilitas dan nilai pasar perusahaan. Hasil penelitian menunjukkan bahwa perusahaan yang menggunakan pendekatan konservatif dalam kebijakan investasi modal kerja memiliki tingkat profitabilitas, sedangkan kebijakan pendanaan yang konservatif nilai pasar ternyata lebih disukai oleh investor. Sementara kebijakan investasi modal kerja dinyatakan tidak memiliki pengaruh yang signifikan terhadap nilai pasar perusahaan, sebagaimana kebijakan pendanaan modal kerja yang tidak berpengaruh terhadap profitabilitas. ......The present study investigates the impact of working capital management policies to profitability and firm?s value. Using the panel data set for the period of 2008-2011, we will evaluate how aggressiveness of working capital investment and financing policy influence the the return on assets and Tobin's q which is the measurement of profitability and company's market value. The results show that companies using a conservative approach in working capital investment policy has a higher level of profitability, whereas a conservative financing policy was more favored by the investors. While the working capital investment policy doesn?t have a significant effect on the market value of the company, as well as working capital financing policy that has no significant effect on profitability.

Abstrak :
Penelitian ini bertujuan untuk mengevaluasi efektivitas pengawasan PPPK terhadap Akuntan Publik (AP) dan Kantor Akuntan Publik (KAP), dan untuk mengetahui apakah pedoman pengawasan PPPK telah memadai dibandingkan dengan Public Company Accounting Oversight Board (PCAOB) dan Accounting and Corporate Regulatory Authority (ACRA). Penelitian ini dilatarbelakangi oleh adanya pelanggaran yang dilakukan oleh AP terkait laporan auditor independen yang tidak didukung dengan kertas kerja dan peningkatan jumlah temuan atas ketidakpatuhan AP dan KAP terhadap peraturan perundangan dan standar profesi, padahal AP dan KAP telah diawasi oleh Pusat Pembinaan Profesi Keuangan (PPPK) selaku regulator AP. Metode penelitian yang digunakan adalah metode kualitatif deskriptif melalui observasi dokumen, wawancara dan studi literatur. Penelitian ini menyimpulkan bahwa secara umum efektivitas pengawasan PPPK terhadap AP dan KAP cukup efektif, namun diperlukan penyempurnaan dan implementasi atas pedoman pemeriksaan, di antaranya pertimbangan analisis resiko AP dan KAP melalui hasil pemeriksaan dan perbaikan atas implementasi monitoring tindak lanjut action plan. Peneliti juga menyimpulkan bahwa pedoman pemeriksaan PPPK cukup memadai dibandingkan dengan PCAOB dan ACRA. Selain itu Penelitian ini juga menemukan adanya overload tenaga pemeriksa PPPK dalam melakukan pemeriksaan terhadap AP dan KAP. ......This study aims to evaluate the effectiveness of PPPK supervision of the Public Accountant (Akuntan Publik/AP) and Public Accounting Firm (Kantor Akuntan Publik/ KAP), and to find out whether the PPPK supervision guidelines are adequate compared to the Public Company Accounting Oversight Board (PCAOB) and the Accounting and Corporate Regulatory Authority (ACRA). This research is motivated by the existence of violations committed by AP related to independent auditor's report which is not supported by work papers and increasing number of findings on non-compliance of AP and KAP to the regulation and professional standard, whereas AP and KAP have been supervised by Centre of Financial Profession Development (Pusat Pembinaan Profesi Keuangan/PPPK) as AP regulator. The research method used in this study is descriptive qualitative method through document observation, interview and literature study. This study concludes that in general the effectiveness of PPPK supervision on AP and KAP is effective enough, but it is necessary to improve and implement the inspection guidelines, such as consideration of risk analysis of AP and KAP through the results of inspection and improvement on the implementation of follow-up monitoring of action plan. The researcher also concludes that the guidelines for PPPK examination are adequate enough compared to PCAOB and ACRA. In addition, this study also found the overload of inspectors in the PPPK examination of AP and KAP.

Abstrak :
[ABSTRAK
Penelitian ini bertujuan untuk mengetahui pengaruh pergantian kantor akuntan publik, ukuran kantor akuntan publik, dan penerapan good corporate governance (yang terdiri dari ukuran dewan komisaris, proporsi komisaris independen, jumlah rapat dewan komisaris, ukuran komite audit, kompetensi komite audit, dan jumlah rapat komite audit) terhadap audit report lag. Penelitian ini juga menggunakan empat buah variabel kontrol, yaitu: profitabilitas perusahaan, ukuran perusahaan, opini going concern, dan jenis industri. Pengujian hipotesis dilakukan dengan menggunakan uji regresi linier berganda terhadap 331 perusahaan yang tercatat di Bursa Efek Indonesia per 31 Desember 2013. Sampel penelitian diperoleh melalui metode purposive sampling. Penelitian ini memberikan bukti empiris bahwa ukuran dewan komisaris, jumlah rapat dewan komisaris, ukuran komite audit, jumlah rapat komite audit, profitabilitas perusahaan, dan jenis industri berpengaruh negatif terhadap audit report lag. Penelitian ini juga memberikan bukti empiris bahwa ukuran perusahaan dan opini going concern berpengaruh positif terhadap audit report lag. Namun demikian, penelitian ini tidak dapat memberikan bukti yang cukup untuk menjelaskan pengaruh dari pergantian kantor akuntan publik, ukuran kantor akuntan publik, proporsi komisaris independen, dan kompetensi komite audit terhadap audit report lag.

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ABSTRACT
The objective of this research is to examine the effect of audit firm changes, audit firm size, and good corporate governance implementation (which consists of the board of commissioner size, independent board of commissioner proportion, number of board of commissioner meetings, audit committee size, audit committee?s competence, and number of audit committee meetings) on audit report lag. This research also uses four control variables: the profitability of the company, the size of the company, going concern opinion, and the type of industry. The hypotheses testing is done by using multiple linear regression of 331 listed companies in the Indonesia Stock Exchange of December 31, 2013. The samples are taken by using purposive sampling method. The research provides empirical evidence that board of commissioner size, number of board of commissioner meetings, audit committee size, number of audit committee meetings, the profitability of the company, and the type of industry have a negative effect on audit report lag. This research also provides empirical evidence that the size of the company, and going concern opinion have a positive effect on audit report lag. However, this research can not provide sufficient evidence to explain the effect of audit firm changes, audit firm size, independent board of commissioner proportion, and audit committee?s competence on audit report lag., The objective of this research is to examine the effect of audit firm changes, audit firm size, and good corporate governance implementation (which consists of the board of commissioner size, independent board of commissioner proportion, number of board of commissioner meetings, audit committee size, audit committee’s competence, and number of audit committee meetings) on audit report lag. This research also uses four control variables: the profitability of the company, the size of the company, going concern opinion, and the type of industry. The hypotheses testing is done by using multiple linear regression of 331 listed companies in the Indonesia Stock Exchange of December 31, 2013. The samples are taken by using purposive sampling method. The research provides empirical evidence that board of commissioner size, number of board of commissioner meetings, audit committee size, number of audit committee meetings, the profitability of the company, and the type of industry have a negative effect on audit report lag. This research also provides empirical evidence that the size of the company, and going concern opinion have a positive effect on audit report lag. However, this research can not provide sufficient evidence to explain the effect of audit firm changes, audit firm size, independent board of commissioner proportion, and audit committee’s competence on audit report lag.]