COSO Internal Control Implementation and Its Influence on Financial Reporting Reliability: Perceptions from Accounting Professionals in Bangkok, Thailand
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Abstract
This research aims to study the relationship between internal control based on the COSO framework and financial reporting reliability from the perspective of accountants in Bangkok, Thailand, as quantitative research. The COSO internal control framework includes the control environment, risk assessment, control activities, information and communication, and monitoring. The study's population comprised accountants in Bangkok, Thailand, with a sample size of 110 participants from the calculation of the 150 participants using the Taro Yamane formula at an error level of 0.05 from accidental sampling. The research instrument was a questionnaire. The statistical analysis included descriptive statistics, including percentages, means, standard deviations, correlation coefficient analysis, and multiple regression analysis at a statistical significance level of 0.05.
The research results found that 1) internal control based on the COSO framework in the aspects of control environment and monitoring positively affected financial reporting reliability, and 2) risk assessment, control activities, and information and communication had no statistically significant relationship with financial reporting reliability. This research provides guidance for organizations to understand internal control based on the COSO framework that affects the reliability of financial reporting by accountants. Organizations can use this information for appropriate human resource development planning and as a guideline for accountants to improve their performance.
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