The effectiveness of the internal control system in Vietnamese credit institutions
In the context of global economic integration, there are many opportunities for promoting economic development, but there are also challenges of complexity and risk in business activities. This always raises many questions that need to be resolved for credit institutions. The internal control system...
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2020-11-01
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doaj-7e0af0ec6d0d4c4fa0067952f838d67f2021-01-13T07:12:31ZengLLC "CPC "Business Perspectives"Banks and Bank Systems1816-74031991-70742020-11-01154263510.21511/bbs.15(4).2020.0314275The effectiveness of the internal control system in Vietnamese credit institutionsTran Quoc Thinh0https://orcid.org/0000-0003-1504-8122Ly Hoang Anh1https://orcid.org/0000-0001-8420-3910Nguyen Khanh Tuan2https://orcid.org/0000-0001-9992-4198Ph.D., Associate Professor, Faculty of Accounting and Auditing, Industrial university of Ho Chi Minh cityPh.D., Associate Professor, Faculty of Business Administration, Saigon UniversityM.Fin., Department of General Office, Banking University of Ho Chi Minh cityIn the context of global economic integration, there are many opportunities for promoting economic development, but there are also challenges of complexity and risk in business activities. This always raises many questions that need to be resolved for credit institutions. The internal control system of credit institutions has become increasingly important for the sustainable development of the national financial system. The purpose of the paper is to evaluate the effectiveness of the internal control system in the practical application of Vietnamese credit institutions. Descriptive statistics are applied to analyze data using SPSS software. The structured questionnaire is designed to collect objective opinions and purposive sampling techniques among 382 experts who are managers of credit institutions in 2020. The results show that all five components improve the effectiveness of the internal control system, and the internal control system plays a role in the safety of Vietnamese credit institutions. Thus, the Central Bank of Vietnam should improve the legal framework and related internal control provisions for credit institutions in accordance with international principles to improve the effectiveness of the internal control system.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/14275/BBS_2020_04_Thinh.pdfcontrol activitieslegal frameworkmonitoring activitiesprincipleregulationrisk assessment |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Tran Quoc Thinh Ly Hoang Anh Nguyen Khanh Tuan |
spellingShingle |
Tran Quoc Thinh Ly Hoang Anh Nguyen Khanh Tuan The effectiveness of the internal control system in Vietnamese credit institutions Banks and Bank Systems control activities legal framework monitoring activities principle regulation risk assessment |
author_facet |
Tran Quoc Thinh Ly Hoang Anh Nguyen Khanh Tuan |
author_sort |
Tran Quoc Thinh |
title |
The effectiveness of the internal control system in Vietnamese credit institutions |
title_short |
The effectiveness of the internal control system in Vietnamese credit institutions |
title_full |
The effectiveness of the internal control system in Vietnamese credit institutions |
title_fullStr |
The effectiveness of the internal control system in Vietnamese credit institutions |
title_full_unstemmed |
The effectiveness of the internal control system in Vietnamese credit institutions |
title_sort |
effectiveness of the internal control system in vietnamese credit institutions |
publisher |
LLC "CPC "Business Perspectives" |
series |
Banks and Bank Systems |
issn |
1816-7403 1991-7074 |
publishDate |
2020-11-01 |
description |
In the context of global economic integration, there are many opportunities for promoting economic development, but there are also challenges of complexity and risk in business activities. This always raises many questions that need to be resolved for credit institutions. The internal control system of credit institutions has become increasingly important for the sustainable development of the national financial system. The purpose of the paper is to evaluate the effectiveness of the internal control system in the practical application of Vietnamese credit institutions. Descriptive statistics are applied to analyze data using SPSS software. The structured questionnaire is designed to collect objective opinions and purposive sampling techniques among 382 experts who are managers of credit institutions in 2020. The results show that all five components improve the effectiveness of the internal control system, and the internal control system plays a role in the safety of Vietnamese credit institutions. Thus, the Central Bank of Vietnam should improve the legal framework and related internal control provisions for credit institutions in accordance with international principles to improve the effectiveness of the internal control system. |
topic |
control activities legal framework monitoring activities principle regulation risk assessment |
url |
https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/14275/BBS_2020_04_Thinh.pdf |
work_keys_str_mv |
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