The Prior Control exercised by the Office of the Comptroller General of the Republic on the management of funds and assets of public companies in Panama, as well as the Internal Control component called monitoring activities, are technical aspects that are related to Financial Accounting and the Audit. However, in the academic field of Financial Accounting and Auditing, research is lacking to corroborate whether prior control has a positive impact on the compliance and improvement of monitoring activities of public companies. It is for the foregoing that we present the results of an investigation that we conducted on this subject in public companies in Panama. Likewise, a brief analysis is made of the relationship between Prior Control and monitoring activities with Financial Accounting and Auditing.