Main Article Content
Many constructing enterprises in Vietnam, especially constructing small and medium enterprises (SMEs), have been facing stiff competition to survive and develop. This research investigates what factors influence the effectiveness of the internal control systems of these enterprises in the Ba Ria-Vung Tau Province. Both quantitative and qualitative methods were used based on the COSO Framework 2013 and several hypotheses were proposed. In addition, data were collected using questionnaires from 304 constructing small and medium enterprises. The results of the multiple regression test revealed a positive impact of five factors comprising internal control; risk assessment; control activities; information and communication; and monitoring on the systematic effectiveness, in which the monitoring factor illustrated the strongest affection and control activities factor demonstrated the least effect on the effectiveness. Furthermore, the legal sanction policy factor did not evidence a relationship with the effectiveness of the internal control system. Hence, the researchers suggested several recommendations to enhance awareness about the importance of internal control systems to the managers of these construction SMEs and leaders of local governmental institutions in the Vung Tau province, Vietnam.
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