Professional Documents
Culture Documents
Third, control activities are actions taken to identify, prevent and minimize risk. The
researcher asked the question as to whether the control activities are implemented or not in the
cooperative. Based on the interviews conducted, the control activities are implemented because
according to respondents, the management is still able to control all the activities of the
cooperative as they will inform immediately all members, employees and stockholders regarding
Golden Group Cooperative control its activities by informing, guiding and leading its
members about the procedures in making their shares grow. You will not become a member of
cooperative if you have not attended the seminar. When the accountants reconcile the balance of
each branch, they give the file to each representative of branch to continue there the encoding of
receipts. The following are the cooperative’s way of implementing control activities by type:
As per control activities are the policies and procedures put into place to run operations,
accomplish goals, and prevent fraud, these are the basic internal control methods in control
activities aspect:
Establish responsibility:
Golden Group Gabay Puhunan Brother Cooperative assigns each task to only one person.
Thus, the cooperative do not make one employee responsible for all parts of a process.
work.
Restrict Access:
The Gabay Group Puhunan Brother Cooperative do not provide access to systems,
information, assets, etc., unless needed, to others which are not responsible for inputting
Thus, as what was said in the later, the cooperative is following the standard of internal
control, (2.4.1), saying that, the accounts receivable records should be maintained b an
individual who does not have access to billing documentation or cash remittances.
They have policies and procedures when it comes to access of information in transactions
They assure controls cover all areas of compliance in the cooperative, assets and
The cooperative has documents for all expenditures and other transactions which can be
seen in their system on the part where they record each transaction, and the justifications
achievement of objectives, no matter how well considered and executed. Limitations inherent in
all control systems, such as judgment, breakdowns, management override, collusion, and costs
https://www.hudoig.gov/sites/default/files/Internal%20Controls%20Integrity%20Bulletin
%20CPD.pdf