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Bubilek, O. (2017). Importance Of Internal Audit And Internal Control In An Organization-Case Study


- The Bank needs to develop measures to control the unit's activities such as controlling the implementation of control procedures, controlling the implementation of the unit's objectives, controlling the information processing process and controlling the implementation of financial and accounting work in accordance with the provisions of law and the Bank, through the unit's internal control department.

5.2.3. For DGRR

According to Dao Minh Phuc (2012), " Banking business is a special business sector, extremely sensitive to fluctuations in the economic environment and facing many types of risks such as financial risks, operational risks, business market risks and other unusual risks with increasingly complex nature and levels ". Therefore, to achieve the harmonization of business activities, banks need to have specific measures to improve risk assessment activities as follows:

- The Bank's Board of Directors establishes clear operational and control objectives. In addition, the Bank must regularly assess the risks that threaten the achievement of its objectives in order to take timely measures to limit and prevent risks.

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- Banks need to build a risk identification mechanism within the bank and must regularly adjust business processes to identify, evaluate and promptly respond to new risks arising in the bank's operations in accordance with changes in the business environment.

5.2.4. For TT & TT

Bubilek, O. (2017). Importance Of Internal Audit And Internal Control In An Organization-Case Study

- Regarding internal information and communication work within the Bank: The Bank needs to publicize and make information transparent within the Bank by applying and maintaining the following measures:

+ Periodically, the Bank must disseminate to the Bank's employees documents on policies, regulations, procedures of the Bank as well as instructions from superiors to all employees to help them understand the information and comply with the regulations. The most effective way to disseminate information in a commercial bank is to notify all departments, divisions, and branches and request the department heads to hold meetings to disseminate important contents. For other contents, employees must read in writing and must sign on the document to confirm that they have read it.


and understand those regulations. In addition, the bank should also provide information to employees about the bank's activities through internal newsletters or through its internal website.

+ The information technology department of the bank must regularly upgrade application software, fully update system programs, quickly fix errors and problems that occur during operations, speed up data processing to meet reporting needs, and provide information quickly and promptly.

- For information and communication work outside the bank: commercial banks need to focus on information communication and receiving feedback from external parties, specifically:

+ Feedback from individual and corporate customers coming to transact at the bank; building a suggestion box and hotline to help support and resolve customer problems as quickly as possible.

+ Create a website of the bank to record the image and all necessary information of the bank, especially continuously update news about the bank such as awards and titles that the bank has achieved, incentives for the bank's products and services, promotional programs, etc.

+ Publicly disclose financial reports or reports on the bank's operations in newspapers, magazines, and websites; ensure that the information provided is honest and reliable to increase outside trust, especially customer trust.

+ The Bank's management and staff must regularly listen to and receive feedback from customers and external parties. From there, the Bank will consider improving the service style of its employees, regularly improving the Bank's business processes to ensure both good service to customers and risk control, helping to perfect the Bank's internal control system.

5.2.5. For GS

GS activity is also a component of internal control, so it also contributes an important part to the harmonization of business activities at commercial banks, helping banks operate better.


There should also be measures to help GS work more effectively and efficiently as follows:

- The Bank's Board of Directors must regularly strengthen and improve the inspection and supervision work in all professional fields inside and outside the Bank to detect any inconsistencies in the system and take timely measures to adjust to the actual situation at the unit in order to proactively detect, warn and prevent violations in management work at the Bank.

- Commercial banks need to build a regular audit process that combines periodic audits at all stages of the bank's operational processes and is carried out by internal auditors with background knowledge in the operations to provide independent and objective assessments of the internal control system. In addition, banks need to hire independent auditors from reputable companies to evaluate and contribute to the improvement of the internal control system of commercial banks.

5.3. Limitations of the topic and future research directions

In addition to the above achievements, research always has limitations. This study is no exception, the limitations come from the limitations of time, cost and resources.

Firstly , the study was limited in the number of samples in the study area and in the same bank, surveying many samples for many different subjects inevitably led to conflicts. Therefore, subsequent studies can expand the scope of the study to assess the impact of factors on the profitability of business activities at commercial banks in Vietnam in a more comprehensive manner.

Second , this study only determines the level of influence of each component in internal control on the integrity of business operations at commercial banks in Vinh Long province without going into detailed analysis of how each component affects the integrity of commercial banks' operations. Therefore, this could be one of the future research directions.


CHAPTER 5 CONCLUSION

In this chapter 5, the author has drawn conclusions about the results of the research that there are 5 factors that have affected the harmonization of business activities at commercial banks in Vinh Long province with the level of influence from high to low, which are MTKS, HĐKS, DGRR, TT & TT and GS. Besides, the author also proposed some recommendations to improve the harmonization of business activities at commercial banks in Vinh Long province. In addition, the author also presented the limitations of the topic and the next research direction in the future.


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