AN EVALUATION OF INTERNAL CONTROL IMPLEMENTATION: A CASE STUDY OF EXHIBITION COMPANY
DOI:
https://doi.org/10.21512/jafa.v8i1.8122Keywords:
Revenue Cycle, Internal Control, Evaluation, COSO FrameworkAbstract
This study aimed to evaluate the revenue cycle implemented in the Exhibition Company to identify the weaknesses and limitations of internal controls related to revenue cycles by referring to the COSO's Internal Control Framework. The study uses a qualitative descriptive approach by assessing the current revenue cycle implemented at the Exhibition Company and the internal control. The process of collecting data is through interviews and observation. Based on the evaluation, there are weaknesses in internal control in the revenue cycle applied by the company. This study indicates that the internal control is still not effective following the COSO framework, leading to the possibility of a fraudulent act in the company. Therefore, as its business continues growing, it is essential to focus more on its revenue cycle system and internal control to implement an effective and efficient procedure to support its operating performance. Furthermore, it suggests improvement as needed based on COSO's internal control framework to overcome the discovered potential weaknesses.
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