Analysis of the Internal Control System for Cash and Cash Equivalents at the Adi Jaya MSME Shop in Takalar Regency
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Micro, Small, and Medium Enterprises (MSMEs) play a strategic role in Indonesia’s economy; however, weak internal control over cash and cash equivalents remains a significant challenge that threatens financial accountability and business sustainability. This community engagement study aimed to analyze the effectiveness of the internal control system for cash and cash equivalents at Adi Jaya MSME Shop in Takalar Regency and to formulate practical recommendations for improving financial governance. A qualitative case study approach was employed through observation, semi-structured interviews, and document analysis involving cash records, transaction evidence, and operational procedures. Data were collected during a six-day field assistance program and analyzed using descriptive analysis based on internal control principles, including segregation of duties, authorization procedures, documentation, and monitoring mechanisms. The findings revealed that cash management was still conducted through a centralized process without adequate segregation of responsibilities between cash receipt, custody, and recording functions. Transaction documentation was largely manual and inconsistent, while formal authorization procedures and periodic cash reconciliations had not yet been implemented. These conditions increase the risk of recording errors, cash discrepancies, and potential fraud. Nevertheless, the enterprise demonstrated a strong commitment to improving its financial administration and showed readiness to adopt recommended practices. The study proposes practical improvements, including the implementation of segregation of duties, standardized cash recording procedures, routine cash reconciliation, and the adoption of SAK EMKM-based financial reporting supported by digital payment systems. These recommendations are expected to strengthen internal control, enhance financial transparency, and improve the long-term sustainability of MSMEs.
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