The importance of the purpose and scope of internal control during the COVID-19 pandemic

The Covid-19 pandemic has increased the importance of risk management and internal control systems in strategic management practices by affecting the economic, social and managerial processes of enterprises. Businesses need to develop more effective control mechanisms to adapt to the sudden conditions during the pandemic period. This study aims to evaluate the purpose and scope of internal control systems in terms of managing the sudden risks faced by businesses during the pandemic and ensuring sustainability. Within the framework of literature review and national-international developments, the study examined the aspects of internal control systems such as protecting business assets, providing transparent financial reporting, identifying and preventing risks, and enabling management policies. The results show that internal control systems have a critical role in ensuring business continuity and developing resilience against economic challenges. Especially during the pandemic period, it has been revealed that businesses can increase their success in protecting their assets and maintaining their strategic goals by rapidly adapting to changing conditions and strengthening their internal control processes. In this context, it is concluded that the Covid-19 pandemic once again emphasizes the necessity of renewing and improving internal control systems for businesses.