The prevention and control of corporate insolvency ensures that the financial, managerial and informational operations reported inner and outer is accurate, reliable and timely; plans and corporate objectives are achieved and satisfied; management actions of the corporation are in accordance with government policies, plans, standards, procedures and nowadays legislation, that all material resources are fully protected, purchased economically and efficientely used in order to prevent corporate insolvency and later, bankruptcy. The effective activities of control helps to identify and evaluate the management of risks and to prevent corporate insolvency. They are developed after the development of control strategies and risk assessments. All this, however, in the context in which are correlated with corporate governance principles that are found in procedures, standards, formalization, harmonization, good practices applied and verified at European level and in Romania provided to reconsider the historical and socio-economic realities.