The Influence Of The Audit Committee On The Internal Audit Department In The System Of Corporate Governance In Ghana
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| Author | : Wiredu Richard |
| Publisher | : GRIN Verlag |
| Total Pages | : 34 |
| Release | : 2020-06-04 |
| Genre | : Business & Economics |
| ISBN | : 3346176290 |
Academic Paper from the year 2020 in the subject Business economics - Accounting and Taxes, grade: 1.00, Kwame Nkrumah University of Science and Technology, language: English, abstract: The study seeks to ascertain the practices of the audit committee and internal audit improving corporate governance among companies in Ghana, with specific attention to analysing the audit committee's impact on improving internal audit operations, identifying the relationship between the internal audit unit and the audit committee members. Moreover, the author analyzes the impact of the internal audit department and audit committee members on the risk management strategy of companies. The author aims to exam the relationship that exists among the audit committee, internal audit, and its part in the corporate governance system. A critical analysis of the circumstances leading to the collapse of businesses shows that the majority of these corporate failures could be avoided if effective audit committees and internal audit departments are in place to check management activities, especially concerning financial reporting and other accounting practices. The study results were obtained by using data gathered from the internal auditors and audit committee members through the questionnaire survey method.
| Author | : Rita Hanna Mansour |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
At the end of the nineteenth century, a loss of confidence in financial statements was observed in response to the corporate frauds that took place in many recognized corporations worldwide as Parmalat, Enron, and Worldcom. Corporate governance and internal auditor independence had become two concepts of major concern. The importance of the role of corporate governance in the guarantee of the quality of financial reporting is recognized. Audit committee, external auditors and management ownership are essential components in the corporate governance mosaic that are given high importance in this study and their influence on the effectiveness on internal audit function is deeply illustrated. In order to go beyond the theoretical link between corporate governance and internal auditor effectiveness, this study will illustrate through a survey using a quantitative methodology, the real impact of corporate governance components on internal audit effectiveness in the Lebanese firms. Primary data is collected through a questionnaire filled by auditors, members of audit committees and managers from a sample of selected Lebanese firms. The questionnaire was sent to 50 persons from whom 41 responded. The results originated from our study provide a response to the research question and confirm the hypotheses based on the previous literature. We have concluded that, in Lebanon, qualifications, effectiveness of audit committee and interaction with internal auditors have a positive influence on internal audit effectiveness. In addition to that, we can confirm that communication between internal and external auditors enhance internal audit effectiveness. However, managers holding a high percentage of shares may impair internal auditor independence which constitutes a component of internal audit effectiveness.
| Author | : Shakir Al-ghalayini |
| Publisher | : GRIN Verlag |
| Total Pages | : 72 |
| Release | : 2015-04-15 |
| Genre | : Business & Economics |
| ISBN | : 3656943044 |
Bachelor Thesis from the year 2013 in the subject Business economics - Investment and Finance, , course: Faculty of Commerce - Department of Accounting, language: English, abstract: It was clear from the recent financial scandals and fraud law suits in the international and regional firms that the internal control in general isn't as strong as should and that there are some weaknesses that led to this outcome and that why we are interested to investigate the internal control and the internal observation systems in the listed Palestinian corporations to put the lights on the real reasons and causes for such problem. Many researchers and observers believe that one of the main reasons for such problem is the insufficient reliance on the function of the internal auditor and not assigning this function with its real importance in the companies, especially if we consider how significant is this function becomes as the companies are getting larger and the operations are extending to be more in terms of the volume and the complexity and more importantly the competition is getting tougher among the companies. The internal audit is consider to be a type of the observational procedures that can be used to assess the effectiveness of the other observational and audit procedures and that is why many researchers consider it as the core of concentration in the audit hierarchy that supplement the other tools in ensuring these tools ability to safeguard the companies' assets, make sure about the fairness of the financial data and encourage the commitment in the managerial policies. [...]
| Author | : Laura F. Spira |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 191 |
| Release | : 2002-01-31 |
| Genre | : Business & Economics |
| ISBN | : 0792376498 |
Many in the UK have been patched together to meet regulatory requirements and their operation is poorly understood because few people other than their members have access to their deliberations. In this account of the world of audit committees the practitioner should find the ethnographical perspectives on ceremonial performance, consensus, independence, and comfort both familiar and different.
| Author | : Abdullfatah Sartawe |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Purpose - this paper aims to offer an empirical evidence about the effect of internal audit and audit committee interaction of enhance the corporate governance on listed Palestinian companies. Design/methodology/approach - a number of questionnaires were sent to chef internal audit executives of 44 listed Palestinian companies, and to enhance the depth of variables measurement tools the questionnaire was sent to 3 accounting professors and high experienced internal auditor at big Palestinian companies to take there feedback about the questions included in questionnaire. Finding - this paper found that the interaction between audit committee and internal audit have significant positively effect to enhance the corporate governance. And 97% of study sample agreed the direct line of access for internal auditor to audit committee that enhance the corporate governance, at the same percentage the sample was agree that the (the review of internal audit work result, and plane of internal audit by the audit committee was effect the corporate governance). Value and contribution - to the best of the authors knowledge, this paper fill one of the major topics of auditing literature. This the interaction role between audit committee and internal audit as an institution of internal auditor IIA require. And to measure this interaction on corporate governance.
| Author | : Marc Eulerich |
| Publisher | : |
| Total Pages | : 11 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
The effectiveness and efficiency of the internal corporate governance structure depends on different governance bodies within the organization. As crucial parts of good governance they provide constituting, monitoring and controlling tasks concerning the risk management and internal control system. Hence, these corporate governance mechanisms include the internal control function (IAF) resp. the members of the internal auditing (IA) and the audit committee (AC) that supervise the risk management and internal control system. Our study explores empirically what internal auditors perceive as the IAF's contribution to these aspects of corporate governance. Based on a dataset of 550 responses from U.S. internal auditors, our results suggest that IA's self-perception is characterized as a central element of the governance structure. A significant interaction between the IAF and the AC is positively linked with the efficiency and effectiveness of the governance processes, internal controls and risk management.
| Author | : Abdulfattah Saeed Sartawi |
| Publisher | : |
| Total Pages | : |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Purpose - This paper aims to offer an empirical evidence about the effect of internal audit and audit committee interaction of enhance the corporate governance on listed Palestinian companies. Design/Methodology/Approach - A number of questionnaires were sent to chef internal audit executives of 44 listed Palestinian companies, and to enhance the depth of variables measurement tools the questionnaire was sent to 3 accounting professors and high experienced internal auditor at big Palestinian companies to take their feedback about the questions included in questionnaire. Finding - This paper found that the interaction between audit committee and internal audit have significant positively effect to enhance the corporate governance. And 97% of study sample agreed the direct line of access for internal auditor to audit committee that enhance the corporate governance, at the same percentage the sample was agree that the (the review of internal audit work result, and plane of internal audit by the audit committee was effect the corporate governance).Value and Contribution - To the best of the authors knowledge. This paper fill one of the major topics of auditing literature. This the interaction role between audit committee and internal audit as an institution of internal auditor IIA require. And to measure this interaction on corporate governance.
| Author | : Adel Boubaker |
| Publisher | : |
| Total Pages | : 22 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
The role of the audit committee and the internal audit function in corporate governance has grown in recent years. In that context, the audit literature and practice has underlined the increasingly important role of support and interaction between the audit committee and the internal audit with the aim to improve the corporate governance quality.The purpose of this paper is to examine the relationship between the audit committee and the internal audit function as well as the impact of audit committee characteristics on this relationship in the Tunisian context.Data were collected by means of a questionnaire addressed to chief internal auditors of 50 Tunisian firms. The regression results suggest that the expertise and frequency of meetings of the audit committee have a positive impact on audit committee interaction with internal audit, while the size of the audit committee affects negatively this interaction. However, audit committee independence has no effect on audit committee relation with the internal audit function.
| Author | : Plamena Nedyalkova |
| Publisher | : Springer Nature |
| Total Pages | : 266 |
| Release | : 2019-10-17 |
| Genre | : Law |
| ISBN | : 3030293297 |
This book examines key methodological and organizational questions with regard to assessing the quality of internal audits. By studying the status quo of these audits in the public sector, including municipalities, it identifies relevant weaknesses, loopholes and issues. In addition, the book assesses the strengths and weaknesses of the approved control system to explain the reasons why, and conditions under which, internal audits are ineffective, and proposes new metric and non-metric indicators to improve the quality of internal auditing. Given its scope, the book offers a valuable guide for anyone responsible for financial controls and internal audits, and will appeal to students and financial practitioners alike.
| Author | : May Said Assaf |
| Publisher | : |
| Total Pages | : 132 |
| Release | : 2005 |
| Genre | : |
| ISBN | : |
The recent demise of the U.S. equity markets and the corporate reporting system have undergone superb scrutiny and discontent from regulatory bodies as the Secu rities and Exchange Commission (the SEC), and stock exchanges as the New York St ock Exchange (NYSE), the NASDAQ, and the American Stock Exchange (Amex), and the public at large. Never before has there been such a supreme focus on internal c ontrol and risk management systems, governance practices, and the interactive ro les of such players as the audit committees, the internal auditors and the exter nal auditors. Not surprisingly, it has been noted that multiple instances of neg ligence in any or all of the constituencies above in properly carrying out their duties lay at the core of these corporate downfalls. Cases of fraud, material m isstatements, material omissions, restatement of multiple prior years' earnings because of accounting oversights or improprieties, or maybe just aggressive acco unting have been recently called to the SEC's and the public's attention. As a result, such corporate failures have pointed out the need for substantial i mprovements in the existing governance systems and re-defined the roles and inte ractions between internal auditors, external auditors, and corporate directors, to improve the quality and transparency of the financial reporting system practi ced by publicly traded companies. The underpinnings of such corporate failures have not only affected the U.S., bu t also have reverberated across the corporate boardrooms in Europe and the Pacif ic. Consequently, this has prompted worldwide attempts to restructure existing c orporate systems and to ensure sturdy grounds that define the interactions and r oles of other players in the corporate system. Despite the fact that such initia tives are all steps in the right direction, the primary most effective mechanism against corporate subterfuge and misrepresentations reside within the companies themselves, particularly in the hands of an effective corporate governance syst em enacted by the directors' board and the audit committee.
