Internal Control in Indonesia

INTERNAL CONTROL IN INDONESIA Internal tames, as we knows in accounting and auditing theory, are the feels that an entity takes to provide conjectural bureau that the entitys objectives are achieved through effective and cost-efficient operations, documentary financial reporting and compliance with applicable laws and regulations. There is a widely-use frame of referencework of inherent book under a consignment named Committee of Sponsoring Organizations of the Treatway Commission (COSO). COSO defines five internal control components, i.e. control environment, risk measurement, information and communication, control chipivities, and monitoring. coer environment is a timbre which is influencing the control consciousness of the people in an entity. It is the understructure for on the whole other components of internal control. Risk assessment is a step of identification and analysis of relevant risks to the achievement of objectives, forming a put upside for how t he risks should be managed. Information and communication are the processes that aliment the identification, capture, and alternate of information in a form and eon frame that enable people to carry out their responsibilities. Control activities are the steps in making the policies and procedures that help fasten way directives are carried out.

Monitoring is a process used to assess the quality of internal control performance over time. The COSO internal control framework is also used in a state governance, such as state government of Indonesia. In Indonesia, there is an act regulating internal control, th at is to say governances System of Internal! Control (PP 60/2008). This act defines that internal control is the integral process on the actions and activities undertaken always by the leadership and the entire employees to provide reasonable presumption for the achievement of organizational objectives through effective and efficient activities, the dependableness of financial report, the security of state assets, and compliance...If you want to pay back a full essay, order it on our website: OrderCustomPaper.com

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