The Adoption of Revenue Internal Control in the Event Organizer Company

Abstract

This research aimed to identify potential risks in revenue cycle and how company manage it, analysis of COSO’s elements implemented in the current company’s internal control and its effectiveness, and suggest improvement as needed based on COSO’s internal control framework. The method of data collection was obtained from interview and observation. Results obtained are internal control in the revenue cycle applied to the company in general is weak, and there is ineffective implementation of internal control which can lead to the possibility of fraudulent act in the company. Hence, as the company’s business keeps growing, it is important to focus more on its revenue cycle system as well as the internal control in order to achieve the most effective and efficient methods in operating the business.