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All Journal JRAP (Jurnal Riset Akuntansi dan Perpajakan) Innovation Business Management and Accounting Journal
Ratih Rakhmawati
Institut Teknologi dan Sains Mandala
Economics, Econometrics & Finance

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Application of the COSO Framework in Internal Control of University Cooperatives: A Comparative Case Study in Indonesia Ihrom Caesar Ananta Putra; Rr. Tiara Amelia; Ratih Rakhmawati
Innovation Business Management and Accounting Journal Vol. 5 No. 1 (2026): January - March
Publisher : Trescode Green Organization

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56070/ibmaj.v5i1.350

Abstract

This study aims to explore the application of COSO framework-based internal control in university cooperatives in Indonesia. This study uses a qualitative approach with a comparative case study strategy in three university cooperatives. Data were collected through in-depth interviews, participatory observation, and document analysis, then analyzed using thematic analysis to identify patterns, compare practices between cooperatives, and interpret internal control dynamics. Validity was strengthened through triangulation of sources and methods, member checking, and audit trails. Findings indicate variations in the implementation of internal controls. The STIE Mandala Cooperative still faces fundamental weaknesses, particularly in risk assessment and control activities, which are more administrative than substantive in nature. In contrast, the Artha STIESIA Employee Cooperative demonstrates good practices with the involvement of professionally competent supervisors, resulting in more substantive risk assessment and monitoring. The Muhammadiyah University Jember Employee Cooperative exhibits more systematic governance through formal document validation, competency-based personnel placement, and performance-based monitoring. This study confirms that effective internal control in university cooperatives requires a combination of a healthy organizational culture, formal document-based governance, expert involvement, and an integrated information system. The practical implication is the need to strengthen cooperative governance through document validation, utilization of competent human resources, and implementation of performance-based monitoring mechanisms to improve transparency and accountability. This study makes an original contribution by examining the application of the COSO framework in the context of university cooperatives in Indonesia, which has been relatively rarely studied. The comparative qualitative approach allows for an in-depth exploration of social and institutional dynamics, thereby broadening theoretical understanding and offering practical recommendations for strengthening member-based cooperative governance.
COSO Framework-Based Internal Control in University Cooperatives and Its Impact on Financial Statement Quality Ihrom Caesar Ananta Putra; Ratih Rakhmawati
JRAP (Jurnal Riset Akuntansi dan Perpajakan) Vol. 12 No. 2 (2025): July - December
Publisher : Magister Akuntansi Universitas Pancasila

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65179/jrap.2025.9370

Abstract

Purpose: This study investigates the influence of COSO-based internal control components on the quality of financial statements in higher education cooperatives and explores implementation practices through quantitative and qualitative approaches. Methodology: A mixed-method design with a sequential explanatory strategy was employed. The quantitative phase applied SEM-PLS using SmartPLS 4.0 on 66 members of the STIE Mandala Cooperative. Exogenous variables included the control environment, risk assessment, control activities, information and communication, and monitoring, while the endogenous variable was financial statement quality. The qualitative phase involved in-depth interviews with supervisors, chairpersons, and treasurers, complemented by benchmarking with other university cooperatives. Finding: Quantitative results indicate that the control environment and monitoring significantly affect financial statement quality, whereas risk assessment, control activities, and information and communication show no significant effect. Qualitative insights reveal weak internal control implementation due to a trust-based culture, limited resources, and administrative procedures. Benchmarking highlights good practices such as stronger supervisory roles, formalized documentation, and the use of information technology to enhance control effectiveness. Implication: Strengthening the control environment and monitoring mechanisms is essential to improving cooperative financial reporting, supported by systematic risk management, consistent control activities, and effective communication. Originality: By integrating SEM-PLS analysis with qualitative insights and benchmarking, this study provides a comprehensive understanding of COSO Framework-based internal control effectiveness in university cooperatives.
Co-Authors Putra, Ihrom Caesar Ananta Rr. Tiara Amelia