Evaluation Internal Control System of Cash Spending Based on the Framework COSO

This study is aim to evaluate the application of internal control system of cash disbursement toward PT XYZ. The study is a qualitative study that using descriptive analytic method. Data collection techniques used are interviews, observations, and documentations. The data sources used are primary data and secondary data which obtained through the employee of PT. XYZ. Data analysis tool that was used is control matrix based on COSO Framework. The result of this study is showed that the application of internal control system of cash disbursement is good and suitable with COSO Framework, but there are few elements that have not applied yet by the company, such as not raining to improve employee competence, the organization structure has not been upgrade frequently, the accounting and finance division have not estimate a risk that could happen in the process of cash disbursement, no prevention from noncompliance cash disbursement's SOP, operating result of cash disbursement have not evaluated and compared with periodic budget, no meeting and surveillance by management in every division to communicate cash disbursement problem and internal control, and there are no daily direct monitoring toward the employees.