Effects of the tax on foreign exchange outflows on foreign investment in Ecuador [Efectos del impuesto a la salida de divisas en la inversión extranjera en el Ecuador]

Abstract

This study in the food industry in Ecuador examined the evolution of internal control and financial management towards key strategic roles, assessing their impact on financial integrity and business competitiveness. Using structured surveys, it analysed organisational roles, financial practices and challenges faced by companies in the sector. A clear hierarchical structure was found in the accounting department, with a predominance of roles such as General Accountant and Assistant Accountant, and a high adoption of detailed annual budgets and monthly analysis of operating costs. However, challenges such as lack of financial resources and trained staff were identified, as well as regulatory obstacles and resistance to change. It is concluded that companies need to improve resource allocation, strengthen staff training and address regulatory complexity to optimise financial management and internal control, thereby strengthening long-term business stability and competitiveness.