The Correlation of Risk Management and Internal Control in Budget RKAP 2020 PT Hutama Karya (Persero)



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Submitted Mar 23, 2022
Published Apr 13, 2022
10.24018/ejbmr.2022.7.2.1375

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The income statement performance of PT Hutama Karya (Persero) for the last five years is very volatile and tends to decline. PT Hutama Karya (Persero) has not been able to maintain sustainable profit growth even though PT Hutama Karya (Persero) has high value-added resources. In 2020 the Company recorded revenues of IDR 21,643 billion or decreased by 17.99% compared to the previous year of IDR 26,392 billion. Meanwhile, compared to the annual target that has been prepared, the Achievement of revenue has reached 88.44% of IDR 24,473, gross profit has reached IDR 1,866 billion or 66,26 % of IDR 2,816 billion. The increase in the cost of revenue from 88,49 % to 91,38 % was the primary lead of not achieving gross profit other than unachieved revenue. The achievement of the company's target at this time which is facing high uncertainty related to the disruption era and VUCA – Volatility, Uncertainty, Complexity, Ambiguity phenomenon has caused very rapid changes so that we need a principle as a foundation in RKAP implementation, namely risk management and internal control. In this study, the author has conducted a Correlation Analysis to determine whether there is a correlation between two independent variables, namely Risk Management (X1) and Internal Control (X2), and one dependent variable, namely Target Achievement, and how strong that correlation is in Hutama Karya. Data used by the author is primary data from several sources such as the company financial statements, compliance scoring of risk management and internal control, and secondary data from reliable sites. The population for this study is from 112 Hutama Karya projects in 2020. This study has determined that Risk Management (X1) has a "Medium Correlation" to Target Achievement (Y), while Internal Control (X2) has a "Strong Correlation" to Target Achievement (Y). Also, Risk Management (X1) and Internal Control (X2) are simultaneously correlated to Target Achievement at the degree of "Strong Correlation".

Keywords: Internal Control, Risk Management

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