. The influence of company size, profitability, solvency, and audit opinion on audit delay in Coal Mining Companies listed on the Indonesia Stock Exchange for the years 2018-2021

This study aims to investigate the effects of Company Size, Profitability, Solvency, and Audit Opinion on Audit Delay among coal mining companies listed on the In-donesia Stock Exchange from 2018 to 2021. The purposive sampling technique was employed, selecting from specific criteria to yield 40 samples. Secondary data on financial reports from the Indonesia Stock Exchange for the specified period were analyzed using linear regression with SPSS software. The data analysis methods included descriptive statistics, classical assumption tests, and multiple and simultaneous F regression analyses. The findings indicate that Company Size has a significant impact on Audit Delay, as evidenced by a t-value significantly higher than the t-table value. Profitability negatively and significantly affects Audit Delay, with a t-value also exceeding the t-table value. However, Solvency and Audit Opinion were found not to have a significant effect on Audit Delay, as their t-values did not surpass the critical t-table values.


Introduction
The financial report is disclosed to the Indonesia Stock Exchange to provide essential information about the financial status, budget execution, budget surplus, cash flow, and changes in equity of a unit useful for users in making and evaluating decisions regarding resource allocation.The Stock Exchange is the entity that organizes and provides a system or means to bring together offers to sell and buy securities from parties wishing to trade them.The role of the Indonesia Stock Exchange is to protect investors, adjusted in accordance with the principle of transparency by monitoring these reports.The auditing process will yield a quality financial report so that decisionmaking will be of high quality because those decisions are based on reliable information.The results of an audit have significant consequences and responsibilities, demanding an auditor to work more professionally.One criterion of an auditor's professionalism is the timeliness in delivering their audit report.Company size is a scale by which the magnitude of a company can be classified, measured by total assets, sales volume, share value, and so on (Putu Ayu and Gerianta, 2018).Larger companies will complete their audit process faster compared to smaller companies, due to several factors such as management in large-scale companies tends to be incentivized to reduce audit delays because such companies are closely monitored by investors, capital supervisors, and the government.
According to Hery (2018:192), the profitability ratio is a ratio that illustrates a company's ability to generate profit through all capabilities and resources it possesses, which come from sales activities, asset use, and capital use.Companies with high profitability generally want to quickly publish their financial reports to enhance their value in the eyes of stakeholders.However, companies with low profits tend to lag in the publication of financial reports.According to Kasmir (2019: 150), the solvency ratio is used to measure the extent to which a company's assets are financed by debt.Broadly speaking, the solvency ratio is used to measure a company's ability to pay off all shortterm and long-term obligations if the company were liquidated.An audit opinion is a conclusion about the fairness of the audited information (Halim, 2015).The opinion of auditors who examine the presentation of a company's financial statements refers to the basic financial accounting standards that apply.The time taken to complete an audit can affect audit delays in delivering audited financial reports, negatively impacting market reactions and creating uncertainty in decision-making.Delayed publication of financial reports may be a sign of problems within the company's financial reports, thus requiring more time for auditors to complete their examinations.The occurrence of issues related to delays in publishing financial reports by companies on the Indonesia Stock Exchange and various differences in research findings regarding the variables suspected to be the cause of these delays have sparked researchers' interest in conducting this study.

Theory of Company Size Influence on Audit Delay
Company size is defined as the average of total net sales for the relevant year up to several years.In this context, higher sales and fixed costs can generate a substantial amount of profit and pre-tax income.Conversely, a company suffers a loss if sales fall below total variable and fixed costs.Therefore, the samples and evidence that auditors need to collect also increase to adequately represent the population (Saskya Clarisa and Sonny Pangerapan, 2019).

Theory of Profitability Influence on Audit Delay
The profitability ratio is a metric used to measure a company's ability to generate profit from its normal business activities.The level of a company's profitability can facilitate the audit process for auditors as it reduces litigation risk pressure (Pramaharjan, 2015).The higher the profitability of a company, the shorter the audit delay, and the lower the profitability, the longer the audit delay will be (Romasi Lumban Gaol & Krista Srikandi Duha, 2021).

Theory of Solvency Influence on Audit Delay
Solvency is a ratio used to measure how far a company's assets are financed by debt (Kasmir, 2019: 150).A high level of debt indicates a delay in the preparation of audit reports because excessive debt can suggest that the company is facing problems and not operating effectively, thereby extending the audit delay (Muhammad Rizal Saragih, 2018).

Theory of Audit Opinion Influence on Audit Delay
According to Lubis and Dewi (2020), an audit opinion is the auditor's view on the financial statement presentation.An unusual opinion without exceptions indicates that the auditor has found issues that must be consulted with a senior auditor and negotiated with management, as well as a need for an extended scope of audit.Conversely, an unqualified opinion indicates that the financial statements are presented in accordance with applicable regulations and do not require many corrections (Imelda Siahaan, R. Adri Satriawan Surya, and Arumega Zarefar, 2019).

Theory of Audit Delay
According to Wulandari and Wiratmaja (2017), audit delay is the time span needed by auditors to audit the financial statements from the closing date of the fiscal year to the publication date of the audited financial report.The longer the audit delay, the longer it takes to complete the financial report audit, resulting in a delay in the publication of the financial statements.

Conceptual Framework
The purpose of the conceptual framework is to demonstrate the relationships between the four independent variables Company Size, Profitability, Solvency, and Audit Opinion and the dependent variable, Audit Delay.

Methodology
This research method employs a quantitative approach.A quantitative method is a research methodology that is positivistic in nature (concrete data), using numbers as research data which are measured using statistics as a tool for calculation tests, related to the issue being studied to produce a conclusion (Sugiyono, 2018;13).

Data Type
According to Sugiyono (2018:456), secondary data refers to data sources that do not directly provide data to the data collector, for example through other people or documents.Additionally, the data taken for this study comes from journals, articles, and previous research.The data are derived from published financial reports.

Population and Sample
The data collection method used is purposive sampling, which involves selecting a number of elements from the population under study to serve as a sample and to understand various characteristics or traits of the subjects sampled, which can then be generalized from the population elements (Handayani;2020).The data analysis technique used is quantitative, involving testing and analyzing data with numerical calculations and then drawing conclusions from the test results.Data collection is conducted through literature study, i.e., collecting data relevant to the research topic.The criteria for the sample used are as follows:

Operational Definitions of Research Variables
Operational definition refers to defining variables operationally based on observed characteristics that allow researchers to perform precise observations or measurements of an object or phenomenon (Nurdin et al., 2019).

Classical Assumption Test
According to Ghozali (2018), the classical assumption test is the initial stage used before conducting multiple linear regression analysis.This testing is essential to ensure that the regression coefficients are unbiased, consistent, and precise in estimation.The classical assumption test consists of the Normality Test, Multicollinearity Test, Autocorrelation Test, and Heteroscedasticity Test.

Ratio
Ratio

Normality Test
The Normality Test aims to determine whether the residuals in a regression model are normally distributed or not.According to Ghozali (2017:127), there are two methods to assess whether residuals are normally distributed: graphical analysis and statistical analysis.

Multicollinearity Test
The Multicollinearity Test examines the linear relationships among independent variables.Ghozali (2017:71) states that this test aims to determine whether there is high or perfect correlation among the independent variables within a regression model.

Autocorrelation Test
According to Ghozali (2017:121), the Autocorrelation Test is conducted to determine if there is a correlation between the errors of one period and the errors of the previous period (t-1) within a linear regression model.

Heteroscedasticity Test
According to Ghozali (2017:47), heteroscedasticity means that the variances of the variables in the regression model are not equal.If the variances are equal across the regression model, it is referred to as homoscedasticity.

Regression Model
According to Ghozali (2016), multiple linear regression analysis is a method used to test the impact of two or more independent variables on one dependent variable.The formula is as follows: Y = a + b1X1 + b2X2 + b3X3 + b4X4 + e Explanation: • Y: Audit Delay • X1: Company Size • X2: Profitability

Determination Analysis (R2)
The Determination Analysis (R2) measures how well the model explains the variation in the dependent variable.The coefficient of determination values range from 0 to 1.A small R2 value indicates limited explanatory power of the variables.
According to Ghozali ( 2018), the coefficient of determination (R2) is used to measure the extent to which the model explains the variation in the dependent variable.

Partial Test (T-Test)
According to Ghozali (2017:56), the t-test assesses the impact of one independent variable on the dependent variable, assuming that the other independent variables are constant.This test is based on a significance level of 0.05.The hypothesis testing criteria are conducted with a t-test by comparing t_calculated and t_table with α = 5% as follows: • If t_calculated > t_table or Sig value < 0.005, then H0 is accepted.

F-Test
According to Ghozali (2016:97), the F-test is used to determine whether there is a significant joint effect of the independent variables on the dependent variable.The criteria for the F-test, according to Ghozali (2016), are as follows: if the significant F value is < 0.05, then H0 is rejected and H1 is accepted, indicating that all independent variables significantly influence the dependent variable.Source: SPSS Processing Results From the table above, the standard deviation is 19.955 with an average value of 82.10 for the years 2018-2021.The Company Size variable has a minimum value of 13.18004 and a maximum value of 21.61268 with an average of 18.8590268 and a standard deviation of 2.38447916.The Profitability (ROA) variable has a minimum value of 0.00194 and a maximum of 0.52018 with an average of 0.1534633.The Solvency (DAR) variable has an average of 0.4021715, a minimum value of 0.08804, and a maximum of 0.65598.The Audit Opinion variable has a minimum value of 0 and a maximum of 1 with an average value of 0.97.Audit Delay has an average of 82.10, a minimum value of 50, and a maximum of 151.

Heteroscedasticity Test Coefficients
This table presents the results from a heteroscedasticity test, examining whether the variances of the residuals are equal across all levels of the independent variables.The test checks for signs of heteroscedasticity by analyzing the standardized coefficients, t-values, and significance levels.

Source: SPSS Processing Results
Based on the "Model Summary" table output from the testing above, it can be concluded that the Durbin-Watson value of 1.162 with dL of 0.3760 and dU of 1.5863 results in 4-dU of 2.4137.The condition to avoid autocorrelation is dU < d < 4-dU, thus from the table above, it can be concluded that there is no autocorrelation problem or symptom.

Multiple Linear Analysis
The goal of multiple linear regression is to determine the extent to which independent variables, namely Company Size, Profitability, Solvency, and Audit Opinion, influence the dependent variable, Audit Delay.This testing involves several stages, such as the Coefficient of Determination, Partial Test (T-Test), and Simultaneous Test (F-Test).The results of multiple linear regression analysis are as follows:

Source: SPSS Processing Results
The coefficient of determination in this research is conducted to measure how far the model can explain the variation of the independent variables, according to Ghozali (2018).Based on Table III.6, it can be concluded that the coefficient of determination value is 0.176, which means that the independent variables explain 17.6% of the dependent variable, and the remaining 82.4% is influenced by other factors.

The Influence of Company Size on Audit Delay
Based on the results above, the significance value for Company Size is 0.000 < 0.05 for Audit Delay and t_calculated 4.291 > t_table 2.57058, which means Company Size has a significant influence on Audit Delay.Previous researchers, Rini (2020) stated that Company Size has a significant negative effect on Audit Delay.However, this differs from Barjono & Mohamad Zulman Hakim (2018) who stated that Company Size does not significantly affect Audit Delay.

The Influence of Profitability (ROA) on Audit Delay
Based on the results above, the significance value for Profitability (ROA) is 0.001 < 0.05 for Audit Delay and t_calculated -3.551 > t_table 2.57058, which means Profitability (ROA) has a negative and significant effect on Audit Delay.This result aligns with Isnaini Hidayati (2020) who stated that Profitability significantly and negatively affects Audit Delay.However, this differs from Gini Sofiyanti & Sri Handayani (2022) who stated that Profitability does not partially affect Audit Delay.

The Influence of Solvency (DAR) on Audit Delay
Based on the results above, the significance value for Solvency (DAR) is 0.767 > 0.05 for Audit Delay and t_calculated 0.299 > t_table 2.57058, which means Solvency (DAR) does not significantly affect Audit Delay.This result aligns with Barjono & Mohamad Zulman Hakim (2018) regarding Audit Delay.However, this differs from Asep (2019) who stated that Solvency has a negative effect on Audit Delay.

The Influence of Audit Opinion on Audit Delay
Based on the results above, the significance value for Audit Opinion is 0.079 > 0.05 for Audit Delay and t_calculated 1.808 < t_table 2.57058, which means Audit Opinion does not significantly affect Audit Delay.This result differs from Haris Adi Nugroho (2018) who stated that Audit Opinion has a negative effect on Audit Delay and Novita Eka Paradina (2020) who stated that Audit Opinion significantly affects Audit Delay.Source: SPSS Processing Results Based on the testing results above, the significance value obtained is 0.000 < 0.005 and F_calculated 7.453 > F_table 2.64, thus it can be concluded that Company Size, Profitability, Solvency, and Audit Opinion simultaneously affect Audit Delay significantly.

Conclusion
Based on the research presented, the following conclusions can be drawn: Company Size significantly influences Audit Delay in the coal mining sector listed on the Indonesia Stock Exchange for the years 2018-2021.Profitability has a negative effect on Audit Delay in the same sector and period.Solvency does not significantly affect Audit Delay, nor does Audit Opinion significantly impact Audit Delay in the coal mining sector for the same timeframe.However, Company Size, Profitability, Solvency, and Audit Opinion together have a significant and simultaneous impact on Audit Delay in the coal mining sector listed on the Indonesia Stock Exchange from 2018 to 2021.

Recommendations
Based on the conducted research, the following suggestions can be offered: For future researchers, it is hoped that the results of this study can provide a reference to deepen knowledge using different ratios and research objects.For companies, it is advisable to focus efforts on managing company size.Enhancing operational efficiency and transparency can help reduce Audit Delay.For investors, it is recommended to consider the financial structure of companies, as an optimal financial structure can reflect good financial management.For Universitas Prima Indonesia, the results of this research are expected to serve as a reference and contribute to the existing body of scholarly work in the library.

Table 1 .
Financial Reports

Table 2 .
Data Collection

Table 5 .
One-Sample Kolmogorov-Smirnov Test Source: SPSS Processing Results Based on the Normality Test table above, the result obtained is 0.200 > 0.05 which means the data are normally distributed.

Table 8 .
Coefficient of Determination Test Model Summary

Table 9 .
T-Test for Company Size, Profitability, Solvency, and Audit Opinion Coefficients