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All Journal Journal of Accounting, Finance, and FinTech Advancements
Adam Zakaria
Master of Accounting Study Program, Faculty of Economics, Universitas Negeri Jakarta, Indonesia
Economics, Econometrics & Finance

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Design of an Internal Control System Evaluation Instrument Based on the COSO Framework: A Study of State Owned Insurance Ari Permana; Adam Zakaria; Ayatullah Michael Musyaffi
Journal of Accounting, Finance, and FinTech Advancements Vol. 1 No. 3 (2025): September
Publisher : CV. Proaksara Global Transeduka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70865/jaffa.v1i3.184

Abstract

The growing complexity of governance and regulatory demands in state-owned enterprises necessitates robust and measurable internal control systems to ensure accountability and long-term sustainability. This study aims to design a comprehensive internal control system evaluation instrument based on the COSO Internal Control–Integrated Framework (2013) to support governance effectiveness and organizational sustainability in state-owned social insurance enterprises. Despite regulatory requirements mandating periodic internal control evaluations, many state-owned enterprises still lack standardized and measurable evaluation tools, resulting in fragmented and partial assessments. Addressing this gap, this research develops a COSO-based evaluation instrument integrated with national governance regulations and risk maturity principles. Using a project-based research design, data were collected through triangulation methods, including interviews, observations, documentation analysis, and questionnaires involving internal auditors and employees across head office and branch units. The instrument was constructed based on five COSO components, seventeen principles, and eighty points of focus, supported by a structured scoring system to assess both the existence (present) and effectiveness (function) of internal controls. This study contributes to the literature on internal control and sustainability governance by providing a replicable and context-sensitive evaluation framework for public sector and social insurance organizations in emerging economies. Practically, the proposed instrument offers internal auditors and regulators a structured tool to enhance accountability, risk management, and long-term organizational sustainability.
Role Clarity and the Accountability Paradox in the Three Lines Model: Evidence from the Indonesian Public Sector Mohammad Suharyadi Aryanto; Adam Zakaria; Marsellisa Nindito
Journal of Accounting, Finance, and FinTech Advancements Vol. 1 No. 3 (2025): September
Publisher : CV. Proaksara Global Transeduka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70865/jaffa.v1i3.201

Abstract

Public institutions in Indonesia have emphasized internal control reform, yet the role of role clarity in strengthening governance effectiveness remains underexplored. This study examines the effect of role clarity on the effectiveness of the Three Lines Model in the Indonesian public sector. The study is motivated by the need to strengthen accountability and clearly allocate responsibilities across operational, oversight, and assurance functions. Although the Three Lines Model is intended to define governance roles, empirical evidence on the contribution of role clarity remains limited.A quantitative explanatory research design was employed. Data were collected through an online questionnaire from employees involved in implementing the Three Lines Model at the Directorate General of State Assets, Ministry of Finance, Indonesia. A total of 172 valid responses were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0.The results show that role clarity does not have a statistically significant effect on the effectiveness of the Three Lines Model. This finding suggests that a clear understanding of formal responsibilities alone is insufficient to improve governance effectiveness in highly formalized public sector organizations. Governance roles may already be institutionalized through regulations and hierarchical control systems, resulting in a standardized understanding of responsibilities among employees.This study contributes to the literature by highlighting that role clarity, while essential for accountability, may not independently enhance governance effectiveness. The findings also offer practical implications by emphasizing that successful implementation of the Three Lines Model requires not only clearly defined roles but also supportive organizational practices and governance mechanisms.
Co-Authors Ari Permana Ayatullah Michael Musyaffi Marsellisa Nindito Mohammad Suharyadi Aryanto