Assessing an Indonesian Credit Union’s Internal Control Using COSO ERM Framework: A Case Study at Credit Union Kridha Rahardja
Journal Title: International Journal of Current Science Research and Review - Year 2023, Vol 6, Issue 12
Abstract
COSO ERM framework has been widely used for assessing the quality of internal control in many forprofit companies. However, there is still limited application of COSO ERM Framework for non-profit organizations and social enterprises with dual objectives like credit unions. This research evaluates how effective and comprehensive the implementation of internal controls is within a Credit Union in Indonesia, a member-based social enterprise offering financial services to middle-low-income groups. This is a collaborative case study of the researcher and the practitioners of the credit union. Participants shared their perspectives through questionnaire feedback, interviews, and focus group discussions, to examine the control activities within the organization and identify risks that may impact the organization’s goals. The findings suggest a critical demand for forming an operational manual with detailed structures and policies. Furthermore, the sense of loyalty is the key to enhancing members’ participation in various activities within the organization.
Authors and Affiliations
Nita Hidajat, FX Kurniawan Tjakrawala,
Keywords
Related Articles
- EP ID EP725820
- DOI 10.47191/ijcsrr/V6-i12-104
- Views 66
- Downloads 0
Data Analytics for Decision-Making in Evaluating the Top-Performing Product and Developing Sales Forecasting Model in an Oil Service Company
This study addresses the strategic challenges faced by a company specialising in the manufacture of oil and gas equipment. Following organisational restructuring, which involved the dissolution of one business unit and t...
Evaluation of Environmental and Social Safeguards Performance Assessment Method using Corrective Action Plan Compliance Rate in Financing and Investment
This study evaluates the environmental and social safeguards (ESS) performance assessment method of PT Sarana Multi Infrastruktur (Persero) (PT SMI), focusing on the corrective action plan (CAP) compliance rate in financ...
Improving Students’ Reading Comprehension by Using Integrated Multimedia in MAN 1 Bandar Lampung
This study examined the impact of integrated multimedia instruction on students’ reading comprehension achievement compared with the traditional print-based instruction. This research applied a quasi-experimental design...
Use of Sustainable Energy Sources and Technologies in Primary and Secondary School Buildings in Greece. Can They Eliminate their Carbon Footprint?
School buildings consume energy covering their energy demand. The most of them utilize fossil fuels and grid electricity while the use of renewable energies is rather limited. School buildings should eliminate their carb...
Cancel Culture: Unveiling the Dark Side of Social Media for Brands – A Systematic Literature Review
The phenomenon and terminology of cancel culture are proliferating with the increasing use of social media in Indonesia. Through these platforms, the cancel culture movement is widespread and poses a significant threat t...