Journal de Stock & Forex Trading
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Internal Control and Accountability of Credit Cooperatives in Panabo City

Jessa Q. Beloy

In broad sense, internal control refers to set of processes and standards set by the management providing reasonable assurance that goals and objectives of an organization are achieved while accountability refers to the obligation of an organization or individual to account for its actions and decisions, accept responsibilities for such and disclose it to other parties who have given them the power to act in behalf of the latter. This study determined which domain of internal control best influenced the accountability of credit cooperatives in Panabo City. It applied the quantitative, non-experimental research design utilizing correlational technique, with 108 employees of credit cooperatives as the respondents selected through total population sampling. The researcher adapted and modified questionnaires to measure internal control and accountability. The Mean, Pearson r, and Regression Analysis were used as statistical treatments. Results revealed that the level of internal control of credit cooperatives was very high across all indicators. Similarly, the study revealed a very high level of accountability among credit cooperatives as perceived by the employees. Based on the findings of the study, it showed that internal control is significantly correlated to the accountability of credit cooperatives, with a p-value less than the level of significance. The overall result disclosed that internal control has significant influence on the accountability of credit cooperatives. Control activities was the domain of internal control that best predicts accountability of credit cooperatives.