Internal Control In SMEs: Case of the Noble Company L.G.A.

Abstract

Internal control is of vital importance in the business field given its positive impact that it can generate within an organization, this research will aim to evaluate internal control in achieving the objectives of the company "Ferretería Noble L.G.A;" of the La Maná canton classified within SMEs, the methodology used was based on a qualitative study and a descriptive and bibliographic design, the population was made up of all staff, The company is under the family management and the results obtained determine that they do not have of a formal organizational structure, as well as the absence of a manual of functions, policies and procedures, which allow the fields of action of the collaborators to be delimited and which contribute to the orderly integration of activities and standards to achieve business goals and objectives, in addition to a high component risk level and a low confidence level. It is concluded that it is important to have an adequate internal control system, it depends on avoiding or reducing risks and fraud within the organization and that its implementation is the responsibility of the administration and that it must be applied without considering the size, activity, assets or structure of the same that allows to achieve reasonable security in financial information, decision-making, the development of its activities, and compliance with the legal regulations in force in the country.