Factors Affecting the Efficiency of the Internal Control System, Impact on the Competitiveness of Vietnam Businesses. Case Study in Binh Duong Province

Author:

Long Nguyen Vuong Thanh1,Phu Nguyen Huu2,Nhi Vo Van3,Toan Le Duc4,Son Nguyen Phi2

Affiliation:

1. Economics Faculty, Thu Dau Mot University, 06 Tran Van on Street, Binh Duong Province, 820000, VIETNAM

2. Board of Provost, Graduate School, Duy Tan University, 03 Quang Trung Street, Da Nang City, 550000, VIETNAM

3. Accounting Faculty, University of Economics Ho Chi Minh City, 59C Nguyen Dinh Chieu Street, Ho Chi Minh City, 70000, VIETNAM

4. Socio – Eco Research Institute, Graduate School, Duy Tan University, 03 Quang Trung Street, Da Nang City, 550000, VIETNAM

Abstract

The article presents research on the factors affecting the effectiveness of the internal control system, thereby finding out the relationship between the effectiveness of the internal control system and the competitiveness of enterprises. The data was surveyed at 150 enterprises in Binh Duong province and processed through SPSS 20.0 software. The results show that there are 6 factors affecting the effectiveness of the internal control system. The control environment is a factor that strongly influences the effectiveness of internal control. The effectiveness of the internal control system affects the competitiveness of the enterprise. From the research results, the article has proposed some managerial implications for the relevant units.

Publisher

World Scientific and Engineering Academy and Society (WSEAS)

Subject

Economics and Econometrics,Finance,Business and International Management

Reference25 articles.

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3. Ariapollo, S. (2014). The Influence of External And Internal Environment on the Competitive Strategy and the Partnership Strategy and Its Impact on the Competitive Advantage and Its Implication on the Performance of Small and Medium Enterprises in West Sumatra.

4. Badara, M. A. S., & Saidin, S. Z. (2013). Impact of the effective internal control system on the internal audit effectiveness at local government level. Journal of Social and Development Sciences, 4(1), 16-23

5. Bader Mustafa, MA, & Zaher Abdel, FA-S. (2019). The Effect of Internal Control on the Competitive Advantage of the Bank. International Journal of Business and Management, 14 (9), 91. https://doi.org/10.5539/ijbm.v14n9p91

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