Internal Control Factors Affecting Business Performance of Vietnam Telecommunications Enterprises

Production and commercial operations became more challenging following the Covid-19 outbreak, and many companies filed for bankruptcy. Today, the main objective of enterprises is to continue to exist. Establishing an internal control system that works can help firms thrive and expand in a sustainable manner.

Internal control aims to limit potential risks and protect assets and business information. In the context of the current explosive digital revolution, concepts of internal control have new approaches. The research is based on 5 elements of internal control in enterprises according to COSO 2013: (1) Control environment, (2) Risk assessment, (3) Control activities, (4) Information and Communication, (5) Supervision. Using qualitative and quantitative research methods, the study has shown the impact of these factors on the performance of Vietnamese telecommunications enterprises. Research results help Vietnamese telecommunications businesses adjust deficiencies in the internal control system and improve the unit's operating efficiency based on available resources in an appropriate manner.