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Academic literature on the topic 'Audit committee characteristics'
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Journal articles on the topic "Audit committee characteristics"
1
Braswell, Mike, Roger B. Daniels, Mark Landis, and Chun-Chia (Amy) Chang. "Characteristics Of Diligent Audit Committees." Journal of Business & Economics Research (JBER) 10, no. 4 (2012): 191. http://dx.doi.org/10.19030/jber.v10i4.6895.
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The mounting attention given to audit committees following a series of corporate financial reporting failures has resulted in numerous provisions within Sarbanes Oxley Act (SOX hereafter) of 2002. The SOX addresses aspects of the audit committee, including its authority and composition characteristics, but the requirement for minimum meeting frequency for the audit committee member was absent from the final SOX provision despite the recommendations of regulators. Since audit committee activity, or degree of audit committee diligence, is determined by the audit committee itself, we investigate various firm-level and governance attributes that likely influence audit committees choice to meet more often than anticipated. After analyzing a sample of 2,715 firm-year observations spanning fiscal years 1998-2003, we find that audit committee diligence is positively associated with audit committee attributes such as financial expertise, but negatively association with audit committee tenure, suggesting that efficiency gains are enjoyed by audit committees as they become more familiar with firm-specific reporting issues. We also document positive associations between audit committee diligence and both governance and agency cost variables. Finally, we document a significant increase in audit committee diligence in the years following the implementation of the SOX 2002 provisions.
2
Setiyani, Duwi. "DETERMINASI KARAKTERISTIK KOMITE AUDIT DALAM MEMPREDIKSI KONDISI FINANCIAL DISTRESS STUDI EMPIRIS PERUSAHAAN SEKTOR JASA YANG TERDAFTAR DI BEI TAHUN 2010-2012." Jurnal Akuntansi Indonesia 3, no. 1 (2016): 29. http://dx.doi.org/10.30659/jai.3.1.29-46.
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Financial distress is a condition where a company cannot meet or has difficulty paying off its financial obligations to its creditors. In financial case, corporate governance parties who had an effect on financial distress is the audit committee. This study investigates the impact audit committee characteristic on financial distress. The audit committee characteristics that use in this study are size of audit committee, independence of audit committee, frequency of audit commitee meeting, competence of audit committee, female audit committee, and audit committee nationality, this study use two control variable is sales growth and KAP reputation. The data being used is from annual report serices company which is listed in BEI in 2010-2012 period. Data collecting method which used in this research is metod purposive sampling. Based on the method purposive sampling, research sample total is 80 companies. Data analysis using logistic regression with SPSS 17. The result show that independence ofaudit committee, frequency of audit commitee meeting, female audit committee, and audit committee nationality has negative affect with financial distress. Size of audit committee and competence of audit committeem has not negative affect with financial distress.
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Supriyaningsih, Supriyaningsih, and Fuad Fuad. "THE INFLUENCE OF AUDIT COMMITTEE CHARACTERISTICS ON REAL EARNINGS MANAGEMENT." JURNAL AKUNTANSI DAN AUDITING 13, no. 1 (2016): 61–79. http://dx.doi.org/10.14710/jaa.13.1.61-79.
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Current study tests the impact of audit committees to the real earnings management.Using the manufacturing public listed companies from Indoensia Stock Exchange from 2012 until 2014, we found that that financial and accounting expertise of audit committee members and audit committee size have positive effect on real earnings management. Furthermore, we also found that the dual positions of the audit committee chairman have a negative effect on earnings management. The Tenure of audit committee chairman however, has no impact on real earnings management.
4
Yustrida Bernawati, Paradisa Sukma,. "The Impact of Audit Committe Characteristics on Audit Quality." Jurnal Akuntansi 23, no. 3 (2020): 363. http://dx.doi.org/10.24912/ja.v23i3.602.
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This research was conducted to investigate the effect of audit committee characteristics on audit quality. The characteristics of the audit committee used in this study are the number of audit committees, number of audit committee meetings, audit committee education background, and audit committee experience while audit quality is measured using audit fees. This study uses manufacturing companies listed on the Indonesia Stock Exchange in 2016 - 2018 with 70 observation data and uses OLS regression. The results of this study indicate all four Audit Characteristics, only size and experience significantly influence audit quality. While audit meetings and education do not significantly affect audit quality. Likewise with the education that can not ensure the capabilities possessed by members of the audit committee. Overall, the effectiveness of the audit committee has no significant effect on audit quality.
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Martinov-Bennie, Nonna, Dominic S. B. Soh, and Dale Tweedie. "An investigation into the roles, characteristics, expectations and evaluation practices of audit committees." Managerial Auditing Journal 30, no. 8/9 (2015): 727–55. http://dx.doi.org/10.1108/maj-05-2015-1186.
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Purpose – This paper aims to investigate how the roles, characteristics, expectations and evaluation practices of audit committees have adapted to regulatory change and what practices are most conducive to effective audit committees. Design/methodology/approach – This paper uses semi-structured interviews with audit committee chairs and chief audit executives. Findings – While new regulation is a primary driver of changes in the roles of audit committees, the audit committee’s role has evolved beyond regulatory requirements. Audit committees are taking a more active role in organisational governance and performance in key areas such as risk management. However, while audit committees have a clear concept of what characteristics committee members require, conceptual frameworks and mechanisms for evaluating the performance of committees and their members remain underdeveloped. Research limitations/implications – The responses of audit committees in Australia to broader regulatory trends suggest that more research is required into how audit committees function in practice, and into developing new frameworks for evaluating the committees’ performance. This paper provides an in-depth exploration of key areas of audit committee performance, and identifies aspects that might be further investigated. Practical implications – The paper identifies key attributes of effective audit committees and especially the characteristics of audit committee members. The paper also identifies a need to improve – and in many cases create – performance evaluation frameworks and mechanisms. Given the international regulatory trend towards greater reliance on audit committees to improve governance, more policy attention is required on developing guidelines and assessment processes that evaluate whether audit committees are fulfilling their legislative mandate in practice. Originality/value – The paper contributes to the relatively new and more specific discussion on reviewing and evaluating the performance of the board and its subcommittees.
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Abbott, Lawrence J., and Susan Parker. "Auditor Selection and Audit Committee Characteristics." AUDITING: A Journal of Practice & Theory 19, no. 2 (2000): 47–66. http://dx.doi.org/10.2308/aud.2000.19.2.47.
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The role of the audit committee in corporate governance is the subject of increasing public and regulatory interest. We focus on one frequently noted function of the audit committee: auditor selection. We argue that independent and active audit committee members demand a high level of audit quality because of concerns about monetary or reputational losses that may result from lawsuits or SEC sanction. Auditors who specialize in the client's industry are expected to provide a higher level of audit quality than do nonspecialists. Thus, we predict that firms with audit committees that are both independent and active are more likely to employ an industry-specialist auditor. We find that firms with audit committees that do not include employees and that meet at least twice per year are more likely to use specialists. This study contributes to our understanding of audit committee functions and provides evidence that industry specialization is an important element of auditor selection.
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Alzeban, Abdulaziz. "Influence of audit committees on internal audit conformance with internal audit standards." Managerial Auditing Journal 30, no. 6/7 (2015): 539–59. http://dx.doi.org/10.1108/maj-12-2014-1132.
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Purpose – This study aims to provide empirical evidence of the association between audit committee characteristics and internal audit conformance with the International Standards for the Professional Practice of Internal Auditing (ISPPIA). Design/methodology/approach – Seventy-four usable responses were received from a survey of chief internal auditors (CIAs) from Saudi companies listed on the Saudi Stock Exchange. Findings – The results indicate that audit committee characteristics (the presence of independent members on the committee, members’ expertise in auditing and accounting and meeting with the CIA) influence internal audit conformance with the ISPPIA. Additionally, they demonstrate that such conformance is also influenced by CIA tenure. Practical implications – The findings of this study also have significant implications for audit committees wishing to improve their overall effectiveness, by identifying the impact of the committee’s characteristics on internal audit conformance with the ISPPIA. Originality/value – The results add to the literature on internal audit standards by introducing a Middle Eastern perspective and simultaneously providing insights for companies in their attempts to adhere to the international standards, hence, supporting efforts towards good corporate governance.
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Abbott, Lawrence J., Susan Parker, Gary F. Peters, and K. Raghunandan. "The Association between Audit Committee Characteristics and Audit Fees." AUDITING: A Journal of Practice & Theory 22, no. 2 (2003): 17–32. http://dx.doi.org/10.2308/aud.2003.22.2.17.
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This study examines the association between audit committee characteristics and audit fees, using data gathered under the recent SEC fee disclosure rules. We hypothesize that audit fees will be positively associated with audit committee independence, financial expertise, and meeting frequency. We examine a sample of 492 nonregulated, Big 5-audited firms that filed proxy statements with the SEC in the period from February 5, 2001 to June 30, 2001. We find that audit committee independence (defined as an audit committee comprised entirely of outside, independent directors) and financial expertise (defined as an audit committee containing at least one member with financial expertise) are significantly, positively associated with audit fees. This is in contrast to the findings of Carcello et al. (2002a), who find that audit committee characteristics are not significant in the presence of board-related variables. Meeting frequency (defined as an audit committee that meets at least four times annually) was not associated with higher audit fees at conventional levels. This evidence is consistent with audit committees taking actions within their span of control to ensure a higher level of audit coverage.
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Abbott, Lawrence J., Susan Parker, and Gary F. Peters. "Audit Committee Characteristics and Restatements." AUDITING: A Journal of Practice & Theory 23, no. 1 (2004): 69–87. http://dx.doi.org/10.2308/aud.2004.23.1.69.
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This study addresses the impact of certain audit committee characteristics identified by the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees (BRC) on the likelihood of financial restatement. We examine 88 restatements of annual results (without allegations of fraud) in the period 1991–1999, together with a matched pairs control group of firms of similar size, exchange listing, industry and auditor type. We find that the independence and activity level (our proxy for audit committee diligence) of the audit committee exhibit a significant and negative association with the occurrence of restatement. We also document a significant negative association between an audit committee that includes at least one member with financial expertise and restatement. To test the robustness of the results we also consider a sample of 44 fraud and no-fraud firms and arrive at largely similar findings. Our results underscore the importance of the BRC's recommendations as a means of strengthening the monitoring and oversight role that the audit committee plays in the financial reporting process.
10
Al-Jalahma, Abdulla. "Impact of audit committee characteristics on firm performance: Evidence from Bahrain." Problems and Perspectives in Management 20, no. 1 (2022): 247–61. http://dx.doi.org/10.21511/ppm.20(1).2022.21.
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The purpose of this study is to analyze the relationship between different audit committee attributes and company performance in Bahrain. This paper investigates the impact of audit committee independence, size, and meeting frequency on company performance (employing ROE, ROA, and Tobin’s Q). Data from all 14 non-financial publicly listed companies on Bahrain Bourse during 2005–2019 were used. The results revealed that companies with independent audit committees and big audit committees in terms of size are performing poorly. It is also shown that the number of audit committee meetings does not affect company performance. Further, this study failed to find any association between the number of audit committee meetings and company performance. The findings show that shareholders might lack knowledge of the importance of corporate governance mechanisms. The results of this study should be of potential interest to different stakeholders, including regulators, investors, and auditors, in their attempts to improve company performance and monitoring mechanisms in emerging economies.