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Sahmin Noholo
Gorontalo State University
Religion Humanities Earth & Planetary Sciences Education Other

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IMPROVING ANALYSIS OF FINANCIAL DISTRESS USING THE SPRINGATE SCORE METHOD AT PT PERTAMINA PATRA NIAGA PERIOD 2019–2023 Salmi Qauly K. Pakaya; Sahmin Noholo; Muliyani Mahmud
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 1 (2026): Vol. 3 No. 1 Edisi Januari 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i1.1641

Abstract

This study aims to analyze the financial distress condition of PT Pertamina Patra Niaga during 2019–2023 using the Springate Score (S-Score) model. Financial distress is a critical stage preceding potential bankruptcy, commonly detected through declining liquidity, profitability, and operational capability. This study employed a quantitative descriptive approach using secondary data sourced from audited financial statements. The Springate model, consisting of four key ratios (working capital to total assets, EBIT to total assets, EBT to current liabilities, and sales to total assets), was applied to evaluate the company’s financial stability. The results show fluctuating financial performance. PT Pertamina Patra Niaga was categorized as financially healthy (safe zone) in 2019, 2020, 2021, and 2023, but experienced financial distress in 2022 due to severe liquidity pressure and increased short-term liabilities. The overall average S-Score of 0.9453 places the company in the grey area, indicating potential vulnerability to financial instability. The findings highlight the importance of improving liquidity management, strengthening working capital, and increasing operational efficiency to prevent future distress. Distress dengan Metode Springate Score pada PT Pertamina Patra Niaga Periode 2019–2023
ACCOUNTANTS' READINESS IN IMPLEMENTING SAK-EP: A CASE STUDY OF THE PONUWA COOPERATIVE AT GORONTALO STATE UNIVERSITY Cintya Azhari Rauf; Denis D. Naru; Riby Tri Hamdoko; Mohammad Agung Tuki; Gufran Djalali; Adi R. Manggi; Sahmin Noholo
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 1 (2026): Vol. 3 No. 1 Edisi Januari 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i1.1762

Abstract

This study examines the readiness of accountants in implementing the Financial Accounting Standards for Private Entities (SAK EP) at the Ponuwa Cooperative of Gorontalo State University using a descriptive qualitative approach through in-depth interviews, observation, and documentation. The results show that the cooperative is administratively ready to prepare financial statements in the form of Business Income (PHU), capital change reports, and balance sheets in accordance with the SAK EP, which is mandatory under Permenkop UKM No. 2 of 2024. Accountants have accounting competencies and practical experience, supported by local IT systems and Excel, as well as internal supervision from supervisory bodies and university facilities. The main obstacles include uncollectible receivables due to double borrowing by members and a tax system based on the previous year's PHU. Overall, the implementation of SAK EP has effectively improved the transparency and accountability of small savings and loan cooperative financial management.
GOVERNANCE FAILURE AS A TRIGGER OF FRAUD IN INVESTMENT MANAGEMENT: A CASE STUDY OF PT ASABRI Fitri Nurhayati M; Tiara Abdurahman; Sahmin Noholo
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 1 (2026): Vol. 3 No. 1 Edisi Januari 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i1.1772

Abstract

This study aims to analyze how governance failure became a trigger for fraud in investment management at PT ASABRI. The research employs a literature study approach. The results indicate that fraud at PT ASABRI was driven by the weak implementation of corporate governance principles, particularly in terms of transparency, accountability, and independence. In addition, violations of the prudential principle and weak internal controls led to investment decisions being made without adequate risk considerations and opened opportunities for collusion between internal and external parties of the company. The findings of this study emphasize that fraud is a direct consequence of governance system failure rather than merely the actions of individuals. Therefore, this study recommends the need for comprehensive governance reform through strengthening risk management, enhancing the transparency of investment reporting, and implementing independent oversight mechanisms to prevent similar cases in the future.
THE ROLE OF CORPORATE GOVERNANCE IN STRENGTHENING ORGANIZATIONAL RISK MANAGEMENT: A Systematic Literature Review Fardhan M Nur Poloalo; Fityan Halid; Sahmin Noholo
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 1 (2026): Vol. 3 No. 1 Edisi Januari 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i1.1957

Abstract

The increasing complexity and uncertainty of the organizational environment demands a management system capable of anticipating various risks in a structured manner. Enterprise Risk Management (ERM) is a comprehensive approach to managing organizational risk, but its implementation often fails to run optimally without the support of strong corporate governance. This study aims to examine the role of corporate governance in strengthening organizational risk management through a systematic literature review. The research method used is a Systematic Literature Review (SLR) of relevant national and international journals. The results of the study indicate that corporate governance plays a strategic role in ensuring the effectiveness of ERM implementation through oversight mechanisms, clarity of responsibilities, and the integration of risk into strategic decision-making. This study provides a conceptual contribution by presenting a synthesis of the literature on the relationship between governance and risk management as a basis for developing more transparent and accountable organizational practices.
THE INFLUENCE OF LOCUS OF CONTROL AND INDEPENDENCE ON THE PERFORMANCE OF INTERNAL AUDITORS AT THE REGIONAL INSPECTORATE OF BONE BOLANGO REGENCY Vidya Vanessa Toloh; Sahmin Noholo; Hendra Pratama Danial
Multidisciplinary Indonesian Center Journal (MICJO) Vol. 3 No. 2 (2026): Vol. 3 No. 2 Edisi April 2026
Publisher : PT. Jurnal Center Indonesia Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62567/micjo.v3i2.2400

Abstract

This study aims to analyze the influence of locus of control and independence on the performance of internal auditors at the Regional Inspectorate of Bone Bolango Regency. This research employs a quantitative approach with a causal research design. The population and sample consist of 38 internal auditors, using a total sampling technique. Data were collected through questionnaires and analyzed using multiple linear regression with the assistance of SPSS software. The results show that partially, locus of control does not have a significant effect on internal auditor performance, while independence has a positive and significant effect. Simultaneously, locus of control and independence significantly influence internal auditor performance. The coefficient of determination indicates that 55.1% of the variation in internal auditor performance can be explained by locus of control and independence, while the remaining 44.9% is influenced by other factors outside the research model. These findings indicate that internal auditor performance is more strongly influenced by professional factors such as independence than by psychological factors such as locus of control. Therefore, efforts to improve internal auditor performance should focus on strengthening auditor independence to ensure objective and professional audit practices.
Co-Authors Adi R. Manggi Cintya Azhari Rauf Denis D. Naru Fardhan M Nur Poloalo Fitri Nurhayati M Fityan Halid Gufran Djalali Hendra Pratama Danial Mohammad Agung Tuki Muliyani Mahmud Riby Tri Hamdoko Salmi Qauly K. Pakaya Tiara Abdurahman Vidya Vanessa Toloh