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Internal control weaknesses in a cooperative body: Malaysian experience

The purpose of this study is to examine the current state of the internal control practices in the cooperative body, an organisation area that has always been neglected in governance empirical research. This study also provides recommendations to overcome those weaknesses. A case study approach was...

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Main Authors: Shamsul Anuar, Abd Rahim, Anuar, Nawawi, Ahmad Saiful, Azlin Puteh Salin
Format: Article
Language:English
Published: Inderscience Enterprises Ltd. 2017
Subjects:
H Social Sciences (General)
HD28 Management. Industrial Management
HF5601 Accounting
Online Access:http://ir.unimas.my/id/eprint/42770/3/Internal.pdf
http://ir.unimas.my/id/eprint/42770/
https://www.inderscienceonline.com/doi/abs/10.1504/IJMP.2017.083082
https://doi.org/10.1504/IJMP.2017.083082
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spelling my.unimas.ir.427702023-09-11T03:07:50Z http://ir.unimas.my/id/eprint/42770/ Internal control weaknesses in a cooperative body: Malaysian experience Shamsul Anuar, Abd Rahim Anuar, Nawawi Ahmad Saiful, Azlin Puteh Salin H Social Sciences (General) HD28 Management. Industrial Management HF5601 Accounting The purpose of this study is to examine the current state of the internal control practices in the cooperative body, an organisation area that has always been neglected in governance empirical research. This study also provides recommendations to overcome those weaknesses. A case study approach was selected for this study by selecting one cooperative body as a case. This study employed document analysis as the method of data collection and the data were analysed by using the latest COSO Internal Control – Integrated Framework. This study found that the selected cooperative body had very poor internal control. There was low data integrity where too many errors were detected in both the financial and non-financial data, while its daily transactions were recorded by using manual tools but without proper security leading to possible fraud. Furthermore, the effort to automate the system by acquiring a new software program has miserably failed due to incompetency of the workforce. To worsen matters, the employees also did not appreciate the importance of internal control. Inderscience Enterprises Ltd. 2017 Article PeerReviewed text en http://ir.unimas.my/id/eprint/42770/3/Internal.pdf Shamsul Anuar, Abd Rahim and Anuar, Nawawi and Ahmad Saiful, Azlin Puteh Salin (2017) Internal control weaknesses in a cooperative body: Malaysian experience. International Journal Management Practice, 10 (2). pp. 131-151. ISSN 1477-9064 https://www.inderscienceonline.com/doi/abs/10.1504/IJMP.2017.083082 https://doi.org/10.1504/IJMP.2017.083082
institution Universiti Malaysia Sarawak
building Centre for Academic Information Services (CAIS)
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sarawak
content_source UNIMAS Institutional Repository
url_provider http://ir.unimas.my/
language English
topic H Social Sciences (General)
HD28 Management. Industrial Management
HF5601 Accounting
spellingShingle H Social Sciences (General)
HD28 Management. Industrial Management
HF5601 Accounting
Shamsul Anuar, Abd Rahim
Anuar, Nawawi
Ahmad Saiful, Azlin Puteh Salin
Internal control weaknesses in a cooperative body: Malaysian experience
description The purpose of this study is to examine the current state of the internal control practices in the cooperative body, an organisation area that has always been neglected in governance empirical research. This study also provides recommendations to overcome those weaknesses. A case study approach was selected for this study by selecting one cooperative body as a case. This study employed document analysis as the method of data collection and the data were analysed by using the latest COSO Internal Control – Integrated Framework. This study found that the selected cooperative body had very poor internal control. There was low data integrity where too many errors were detected in both the financial and non-financial data, while its daily transactions were recorded by using manual tools but without proper security leading to possible fraud. Furthermore, the effort to automate the system by acquiring a new software program has miserably failed due to incompetency of the workforce. To worsen matters, the employees also did not appreciate the importance of internal control.
format Article
author Shamsul Anuar, Abd Rahim
Anuar, Nawawi
Ahmad Saiful, Azlin Puteh Salin
author_facet Shamsul Anuar, Abd Rahim
Anuar, Nawawi
Ahmad Saiful, Azlin Puteh Salin
author_sort Shamsul Anuar, Abd Rahim
title Internal control weaknesses in a cooperative body: Malaysian experience
title_short Internal control weaknesses in a cooperative body: Malaysian experience
title_full Internal control weaknesses in a cooperative body: Malaysian experience
title_fullStr Internal control weaknesses in a cooperative body: Malaysian experience
title_full_unstemmed Internal control weaknesses in a cooperative body: Malaysian experience
title_sort internal control weaknesses in a cooperative body: malaysian experience
publisher Inderscience Enterprises Ltd.
publishDate 2017
url http://ir.unimas.my/id/eprint/42770/3/Internal.pdf
http://ir.unimas.my/id/eprint/42770/
https://www.inderscienceonline.com/doi/abs/10.1504/IJMP.2017.083082
https://doi.org/10.1504/IJMP.2017.083082
_version_ 1778166708402388992
score 13.211869

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