Article Sidebar

Download
Download Article

Main Article Content

Abstract

This study analyzes the organizational performance of Indonesia's Financial Services Authority (OJK) in 2019 from the perspective of the Management Control System. Drawing on a document analysis of the OJK 2019 Performance Report, the research evaluates the effectiveness of the integration of strategy, budget, and performance through the Management, Strategy, Budget, and Performance System (MSAK), which is rooted in the Balanced Scorecard (BSC) framework. The findings indicate that OJK's Management Control System successfully maintained financial sector stability amidst global economic slowdown. External performance indicators remain robust, with banking credit growth reaching 7.05% (YoY) and the net Non-Performing Loan (NPL ratio) contained at a healthy 1.20%. Furthermore, foreign investors recorded a net buy of IDR 49.2 trillion in the capital market. Internally, OJK significantly strengthened its control mechanisms by implementing Integrated Governance, Risk, and Compliance (GRC) and using Supervisory Technology (SupTech) such as OJK-BOX and Continuous Audit Continuous Monitoring (CACM). This control environment resulted in the organization achieving an Unqualified Opinion on its financial statements. The study concludes that OJK's successful performance relied on an adaptive, risk-based Management Control System that strategically leveraged digital transformation.

Keywords

Management Control System Otoritas Jasa Keuangan Financial Performance Report Organizational Performance Analysis Digital Transformation Strategy

Article Details

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite
Hasanah, N. R., Rismawati, B., Hanifah, R. N., Kusnaedi, S. P., & Pardede, T. E. N. (2026). Analysis of Company Performance Through a Management Control System Approach: A Study of Financial Services Authority Documents in 2019. Golden Ratio of Data in Summary, 6(1), 344–353. https://doi.org/10.52970/grdis.v6i1.2022
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Anggraini, N. S., Kuntadi, C., Bhayangkara, U., Raya, J., Pramukty, R., Raya Perjuangan, J., Utara, B., Bekasi, K., & Barat, J. (2023). Pengaruh teknologi informasi, pengendalian internal dan kompetensi pengguna terhadap kualitas sistem informasi akuntansi. 1(3), 28–39. https://doi.org/10.55606/makreju.v1i1.1599
  2. Anthony, R. N., & Govindrajan, V. (2012). Management control systems. www.lpude.in
  3. Bhimani, A., & Willcocks, L. (2014). Digitisation, ‘big data’ and the transformation of accounting information. Accounting and Business Research, 44(4), 469–490. https://doi.org/10.1080/00014788.2014.910051
  4. Rifa Qothrun, N., Dini Sofia, L., & Sabina Syaharani, N. (2024). Peran strategis Otoritas Jasa Keuangan dalam pengawasan hukum terhadap kesehatan perbankan di Indonesia. http://jurnal.kolibi.org/index.php/neraca
  5. Fitriani, Sandy, K. N., Amiruddin, & Syamsuddin. (2025). Governance, risk, and compliance: Pilar utama untuk audit berbasis nilai tambah. Jurnal Akuntansi dan Keuangan Kontemporer (JAKK), 7(2).
  6. Fitrianingsih. (2025). An empirical study on the determinants of bank financial stability: The moderating role of bank size in the relationship between financial performance. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 8(3).
  7. Hansen, S. C., & Van der Stede, W. A. (2004). Multiple facets of budgeting: An exploratory analysis. Management Accounting Research, 15(4), 415–439. https://doi.org/10.1016/j.mar.2004.08.001
  8. Kencana, K. C., & Purwanti, T. (2022). Manajemen sumber daya manusia sebagai bentuk pengendalian internal atas efektivitas dan efisiensi biaya operasional perusahaan.
  9. Khaliq, A. (2025). The impact of COVID-19 on FinTech lending in Indonesia: Evidence from interrupted time series analysis.
  10. Kondoy, E. I., & Soewignyo, F. (2023). Intellectual capital and firm performance of banking sector in Indonesia. Jurnal Terapan Ilmu Manajemen dan Bisnis, 6(1), 65–82. https://doi.org/10.58303/jtimb.v6i1.3038
  11. Kristianti, I. (2025). Literatur review: Dampak implementasi internal control over financial reporting, whistleblowing system dan internal audit terhadap fraud prevention. Desember, 10(2). http://journal.uta45jakarta.ac.id/index.php/MAP
  12. Maulani, D., & Octavya, V. D. (2021). Peran Otoritas Jasa Keuangan (OJK) dalam perlindungan konsumen. Moneter: Jurnal Keuangan dan Perbankan, 9(1), 25. https://doi.org/10.32832/moneter.v9i1.5762
  13. Muttaqien, A. A., Jamaluddin Majid, & Nur Rahma Sari. (2024). Pengaruh kompetensi sumber daya manusia dan sistem pengendalian internal terhadap akuntabilitas pengelolaan keuangan daerah dengan komitmen organisasi sebagai variabel moderating. Indonesian Journal of Taxation and Accounting, 12–27. https://doi.org/10.61220/ijota.v2i1.249
  14. Niven, P. R. (2006). Balanced scorecard step-by-step: Maximizing performance and maintaining results (2nd ed.).
  15. Organisation for Economic Co-operation and Development (OECD). (2015). Policy framework for investment, 2015 edition. OECD Publishing. https://doi.org/10.1787/9789264208667-en
  16. Otoritas Jasa Keuangan (OJK). (2020). Laporan kinerja 2019.
  17. Rachman, G. G., & Nuraeni, S. (2020). The influence of information technology and management control systems on employee performance. Audit dan Sistem Informasi Akuntansi, 4(3).
  18. Rasyid, S., Darmawati, D., Tandilino, C., & Irianto, L. B. W. (2025). Reaksi pasar modal terhadap fluktuasi nilai tukar rupiah dan US Dollar di sektor perbankan. Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS), 6(3). https://doi.org/10.47065/ekuitas.v6i3.6391
  19. Setia Ningsih, R., Febrianti Purba, N., Darma, J., Kunci, K., Pengendalian Manajemen, S., & Digital, E. (2026). Strategi sistem pengendalian manajemen di era digital: Kajian literatur. 7(1), 1–10. https://doi.org/10.53697/emak.v7i1.3169
  20. Veronika, Y., & Efendi, B. (2025). The effectiveness of monetary, macroprudential, and microprudential policies on financial stability in Indonesia during and post-COVID-19. Golden Ratio of Data in Summary, 5(4), 797–808. https://doi.org/10.52970/grdis.v5i4.1663
  21. Wulandari, I., & Hwihanus. (2025). Determination of financial stability of banks in Indonesia. Menur Pumpungan, Kec. Sukolilo, 45, 60118. https://doi.org/10.26486/jramb.v11i2.4926

Similar Articles

<< < 2 3 4 5 6 7 8 9 10 11 > >> 

You may also start an advanced similarity search for this article.