Enhancing Internal Control at an Indonesian Cooperative

Rahmialawati Rahmialawati, Indah Melati

Abstract


This study examines the internal control system of Koperasi XYZ, an Indonesian saving and loan cooperative, focusing on its revenue cycle. The analysis reveals critical weaknesses, particularly a lack of segregation of duties. The findings highlight the urgent need for Koperasi XYZ to conduct a comprehensive evaluation of its internal controls to ensure transparency and accuracy in financial reporting. The study uses the COSO Internal Control-Integrated Framework to identify areas for improvement. The results suggest the need for strengthened internal controls, including better segregation of duties, enhanced risk management practices, and ongoing staff training. The recommendations emphasize the importance of a strategic approach to mitigate risk impacts and foster a more transparent and accountable cooperative environment. This study provides valuable insights for Koperasi XYZ and other cooperatives to improve operational efficiency and adapt best practices.

Keywords


Cooperative; Fraud Prevention; Internal Control; Revenue Cycle

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References


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DOI: https://doi.org/10.17509/jrak.v13i2.83494

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