Factors affecting the assessment of internal control in the audit of financial statement at small companies in Viet Nam

• Main Author: Bui, Dinh Son
• Other Authors: Ngo, Tri Trung
• Format: Final Year Project (FPY)
• Language: English
• Published: 2020
• Subjects: Internal control assessment; Small companies; Internal factors; The process conduct audits
• Online Access: http://repository.vnu.edu.vn/handle/VNU_123/95151
• Institution: Vietnam National University, Hanoi

Currently, the annual audit of financial statements becomes more and more common for businesses. But the identification of factors affecting the audit process has not been widely exploited, especially at small companies. Therefore, in this study, I have sought to identify the factors affecting the assessment of internal control in auditing financial statements at small companies, in order to contribute a different perspective to the audit work. In this thesis, I apply the qualitative research method and use questionnaire related to internal control evaluation in the auditing of financial statements to explore and describe the outstanding influence factors. Besides, the random sample selection among auditors helps to make the answers more objective and diverse. With the survey results obtained from the auditor's responses, the assessment of internal control in small companies is influenced by many factors, mainly in internal factors and the process conduct audits. The identified influencing factors will contribute to some practical experience in the audit work as well as novice auditors. Thereby, understanding these factors will limit the inadequacies and increase the quality of the audit of financial statements when auditing small companies. Finally, this topic has contributed a part of the view to research topics related to internal control audits and has become a material that can be useful to other researchers.