Issue #2 (Volume 7 2026)

Type of the article: Research Article

In the dynamic landscape of emerging economies like Vietnam, digital transformation is increasingly recognized as a strategic imperative for enhancing corporate governance and transparency. This study aims to evaluate the direct impact of technological integration on internal control effectiveness and investigate the moderating mechanism of firm size in this relationship. To ensure representativeness across small, medium, and large organizational scales, a stratified random sampling technique was employed. The quantitative data were collected over a six-month period from October 2024 to March 2025. A structured questionnaire, validated by experts and utilizing a 5-point Likert scale, was distributed via email to key personnel in Vietnamese enterprises, resulting in 452 valid responses. The partial least squares structural equation modeling method was applied to analyze the data, specifically chosen for its suitability with non-normal distributions. The results demonstrate that digital transformation exerts a substantial positive influence on internal control effectiveness (β = 0.424, p-value < 0.001), confirming that digitization significantly bolsters risk management capabilities. Crucially, the analysis identifies a statistically significant negative moderating effect of firm size (β = –0.190, p-value < 0.001). These findings indicate that the positive impact of digitalization on internal control diminishes as organizational scale increases. The study concludes that while large corporations face structural inertia, small and medium-sized enterprises leverage their agility to achieve superior control outcomes, necessitating tailored strategies for different enterprise scales.

Type of the article: Research Article

In contemporary corporate governance, rigorous expenditure control is essential for financial stability and for mitigating agency costs. This article investigates the influence of financial management information system functional maturity and internal audit effectiveness on expenditure control efficiency and examines the mediating role of financial information quality in Vietnamese listed companies. A quantitative approach was employed using partial least squares structural equation modeling (PLS-SEM) to analyze data collected from 258 respondents, each representing a distinct listed enterprise during the first half of 2025. The results provide quantitative evidence supporting all hypotheses. Specifically, financial management information system maturity positively influences financial information quality (β = 0.400) and expenditure control efficiency (β = 0.349). Internal audit effectiveness also positively influences information quality (β = 0.265) and control efficiency (β = 0.208). Furthermore, financial information quality directly enhances control efficiency (β = 0.399) and significantly mediates the relationships between system maturity (indirect effect = 0.160) and internal audit effectiveness (indirect effect = 0.106) on expenditure control. The model explains 46.8% of the variance in expenditure control efficiency. These findings conclude that technological infrastructure and independent oversight optimize governance performance primarily through producing highly reliable financial data, offering vital insights for executives to standardize internal control protocols in volatile markets.