Analisis Penerapan Sistem Pengendalian Internal Berdasarkan Kerangka COSO Pada Koperasi Karyawan GMF

Abstract

Main Purpose - This study aims to analyze the implementation of the internal control system based on the COSO framework in the management of financing at the GMF Employee Cooperative. Method - This study employed a qualitative research design with a descriptive approach. Data were collected through interviews, observations, and documentation, while data analysis employed the Miles and Huberman model, including data reduction, data display, and conclusion drawing. Main Findings - The findings indicate that the implementation of the internal control system in financing management has incorporated the five components of COSO. However, inconsistencies were still identified in the implementation of procedures through the disposition mechanism for members who had not fulfilled the administrative requirements, as well as suboptimal communication regarding members' plans to resignation or retirement. Theory and Practical Implications – The effectiveness of internal control depens not only on the presence of the five COSO components but also on the consistency of their implementation and the effectiveness of communication. The cooperative needs to strengthen its financing procedures and risk mitigation, particularly regarding procedures for member resignation. Novelty - The novelty of this study lies in its analysis of the implementation of an internal control system based on the COSO framework in financing management at the GMF Employee Cooperative, which applies a payroll deduction system as its installment repayment mechanism.