Analysis Of The Internal Control System For Credit Sales Of Crude Palm Oil (CPO) At PT Sumber Sawit Makmur

Abstract

This study aims to analyze the implementation of the sales internal control system at PT Sumber Sawit Makmur, focusing on its compliance with the internal control components established by the Committee of Sponsoring Organization of the Treadway Commission (COSO). this research uses primary data and secondary data. The data collection methods used include interviews with company personnel and analysis of relevant documentation. All data collected was then processed with descriptive qualitative using the Miles and Huberman model. The results of data processing show that in general, PT Sumber Sawit Makmur has implemented an internal control system for credit sales that is largely in accordance with COSO standards. However, this study also revealed several components and subcomponents that were not appropriate. There is a discrepancy in the risk assessment component, where PT Sumber Sawit Makmur has not established a strict policy or Standard Operating Procedure (SOP) regarding the provision of credit limits to customers. The absence of a clear policy in this regard can increase the risk of bad debts, which can disrupt the company's cash flow and have a negative impact on liquidity and overall financial performance. In addition, the non-conformity of the subcomponent of control activities, namely in terms of separation of duties, where PT Sumber Sawit Makmur has not made an adequate separation between the sales function, credit function, collection function, and sales recording function. This lack of segregation of duties can create gaps that can potentially be exploited for fraud or misappropriation of assets, especially in the form of deliberate manipulation of receivables. This situation can result in significant financial losses for the company if not properly addressed.