THE EFFECT OF INTERNAL AUDIT EFFECTIVENESS ON COOPERATIVE FINANCIAL PERFORMANCE IN BOALEMO REGENCY
Abstract
This study aims to examine the effect of internal audit effectiveness on the financial performance of Savings and Loans Cooperatives in Boalemo Regency. Effective internal auditing is important in strengthening internal control, ensuring compliance with established procedures, identifying financial risks and irregularities, and supporting accountable financial management. This study employed a quantitative approach using a survey method. Primary data were collected through structured questionnaires from 43 respondents selected using purposive sampling based on their involvement in cooperative financial management, supervision, and internal audit activities. The data were analyzed using descriptive statistics and simple linear regression to examine the effect of internal audit effectiveness on cooperative financial performance. Financial performance was assessed through liquidity, solvency, and profitability indicators, while internal audit effectiveness was associated with assurance, internal control evaluation, compliance assessment, risk identification, and recommendations for improvement. The descriptive results indicate a highly positive assessment, with a mean score of 4.642 and a standard deviation of 0.501. The regression analysis shows that internal audit effectiveness has a positive and significant effect on financial performance, with a regression coefficient of 0.671, a t-value of 6.471, and a significance value of 0.000. These findings indicate that strengthening the effectiveness of internal audit can contribute to improving the financial performance of Savings and Loans Cooperatives in Boalemo Regency. Therefore, cooperatives should strengthen the competence, objectivity, independence, documentation, and systematic follow-up of internal audit findings to support more accountable, transparent, and sustainable financial management
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