This study aims to analyse the factors that may influence fraudulent financial reporting using the fraud hexagon model. The subjects of this study are the infrastructure sector companies listed on the stock exchanges of every ASEAN country for the period of 2019-2021. This study uses logistic regression with F-Score as the measurement for the dependent variable. The result of this study suggests that financial target, change in BOD, and CEO’s education affect fraudulent financial reporting. While financial stability, external pressure, e-procurement, electronic whistle blowing system, change in auditor, and CEO’s military or political connection do not affect fraudulent financial reporting. This study advances the knowledge of variables that may influence fraudulent financial reporting using a few new proxies for the fraud hexagon’s element, namely the e-procurement, electronic whistle blowing system, CEO’s education, and CEO’s military or political connection. The findings of this study have provided severalpractical implications for the company’s stakeholders to prevent fraudulent financial reporting. In the context of the fraud hexagon, this research is the first study to date that can show the significant and positive relationship between CEOs’ education and fraudulent financial reporting. The limitations of this study are the short observation period and the low R-square of the model.

Highlights

• Using logistic regression, this study examine ASEAN listed infrastructure companies with the fraud hexagon theory. This study advances the knowledge of variables that may influence fraudulent financial reporting using a few new proxies for the fraud hexagon’s element, namely the e-procurement, electronic whistle blowing system, CEO’s education, and CEO’s military or political connection.