Abstract
<p>The purpose of this research was to determine the factors that affect effectiveness of internal control systems in commercial banks in Vietnam. Through the method of qualitative research and quantitative based on reliability Cronbach's Alpha, exploratory factor analysis (EFA) and multiple regression analysis (MRA). According to the report of COSO, BASEL organizations and the other authors, control environment; risk assessment; information and communication; control activities and monitoring could affected the effectiveness of internal control systems in commercial banks. In addition, this research has indicated that there are two new factors have an impact on the effectiveness of internal control systems in commercial banks in Vietnam: political institutions and interest groups.</p>
Highlights
There were many researches on internal control system, the effectiveness of internal control system as well as factors affecting the effectiveness of internal control system
This study will focus on the effectiveness of internal control system as well as factors affecting them in commercial banks in Vietnam
After successfully developing the model of factors that affect the effectiveness of internal control systems in commercial banks in Vietnam, we processed to assess this model by Multiple Regression Analysis (MRA) model to test its appropriateness and to examine the extent to which these factors influence the effectiveness of internal control systems
Summary
There were many researches on internal control system, the effectiveness of internal control system as well as factors affecting the effectiveness of internal control system. Some researches on factors affecting the effectiveness of internal control system were Ramos (2004), Rae & Subramaniam (2006), Lannoye (1999), Walker (1999), Steihoff (2001), Hevesi ( 2005), Jenkinson (2008), Springer (2004), Muhota (2005), Diamond (1984), Calomiris & Kahn (1991). There had not been any research on factors affecting the effectiveness of internal control system in commercial banks in Vietnam.
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