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Internal Control and Accountability of Credit Cooperatives

Author

Listed:
  • Jessa Q. Beloy

    (The University of Mindanao)

Abstract

This study aims to guide not only credit cooperatives but all financial institutions in improving accountability by establishing and implementing an effective and well-organized system of internal control. This study determined which domain of internal control best influenced the accountability of credit cooperatives in Panabo City. It applied the quantitative, non-experimental research design utilizing correlational technique, with 108 employees of credit cooperatives as the respondents selected through total population sampling. The researcher adapted and modified questionnaires to measure internal control and accountability. The Mean, Pearson r, and Regression Analysis were used as statistical treatments. Results revealed that the level of internal control of credit cooperatives was very high across all indicators. Similarly, the study revealed a very high level of accountability among credit cooperatives as perceived by the employees. Based on the findings of the study, it showed that internal control is significantly correlated to the accountability of credit cooperatives, with a p-value less than the level of significance. The overall result disclosed that internal control has significant influence on the accountability of credit cooperatives. Control activities was the domain of internal control that best predicts accountability of credit cooperatives.

Suggested Citation

  • Jessa Q. Beloy, 2021. "Internal Control and Accountability of Credit Cooperatives," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(6), pages 445-452, June.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:6:p:445-452
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    References listed on IDEAS

    as
    1. Cecilia Lelly Kewo & Cecilia Lelly Kewo, 2017. "The Influence of Internal Control Implementation and Managerial Performance on Financial Accountability Local Government in Indonesia," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 293-297.
    2. Theofanis Karagiorgos & George Drogalas & Nikolaos Giovanis, 2011. "Evaluation of the Effectiveness of Internal Audit in Greek Hotel Business," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 4(1), pages 19-34, March.
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