Download or read book Interaction Between Internal Audit and Risk Management an Empirical Investigation of Financial Institutions written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Internal Auditors Contribution to Good Corporate Governance An Empirical Analysis for the One Tier Governance System with a Focus on the Relationship Between Internal Audit Function and Audit Committee written by Marc Eulerich and published by . This book was released on 2017 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Audit Committee Effectiveness and Internal Audit written by Fatimah Mat Yasin and published by . This book was released on 2012 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increased concerns regarding corporate accountability in various developed nations have been associated with the need for effective audit committee and internal control systems. This is due to large corporate collapses which have demonstrated problems with the quality of financial reporting and auditing. This study examines the nature and extent of the relationship between audit committee characteristics and internal audit function characteristics with audit quality whereby audit fee is used as a proxy for audit quality. The corporate governance characteristics included in this study are audit committee expertise, frequency of audit committee meetings, structure of internal audit function and size of internal audit function. This study applied the agency theory and resource dependence theory. This study also formulated eight hypotheses that guided the analysis and using publicly available information of 200 Malaysian public listed companies for the financial year end 2009 and 2010 each. This study provides recent evidence of a positive relationship between audit quality and two audit committee characteristics: audit committee with postgraduate qualification and frequency of audit committee meeting. Further, a positive relationship is found between audit quality and internal audit function characteristic, which is size of internal audit function. The results indicate firms that consist of more audit committee members with higher tertiary education and meets regularly with well-resourced internal audit units have a significant relationship with the audit quality. Apart from contributing to the literature on corporate governance and audit quality, this study may serve as an input for the regulator to encourage strict enforcement for Malaysian-listed companies to incorporate corporate governance practices especially on audit committee composition and internal audit function.

Download or read book The Effect of the Internal Auditing on Financial Performance written by Shakir Al-ghalayini and published by GRIN Verlag. This book was released on 2015-04-15 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. [...]

Download or read book Internal Auditing and Enterprise Risk Management ERM written by Mohd. Ariff bin Kasim and published by . This book was released on 2016 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the fact that there are internal auditing books in the market, these existing books are mainly written from the perspective of internal audit practitioners. Unlike books in accounting theory, the books on internal auditing lack empirical attributes. This book aims to bridge this gap in the market by incorporating research perspectives concerning internal auditing as well as new expanding roles in Enterprise Risk Management (ERM). The enhancement of accounting curricular and availability of internal auditing programs in most universities certainly demand more than practitioners' based internal auditing books. This book offers valuable insights based on research perspectives concerning internal auditing and its roles and implications towards the implementation of the ERM. It is specially designed to accommodate the needs of researchers, specifically academic research in internal auditing and ERM. It is packed with key research literature, research questions, directions and theoretical justifications that could facilitate researchers by incorporating existing relevant studies and theories. Moreover, the book could simplify and point researchers in specific directions by integrating detailed literature references, research questions and measurements procedures. Students at both postgraduate and undergraduate levels may find this book extremely useful in assisting them with their research endeavors. The initial part of the book explores the history and evolution of internal auditing as a profession followed by comprehensive theoretical justifications on its relationships with the board. The book offers a list of possible research questions at the end of each chapter that could significantly enhance its value to researchers. Moreover, it has critically analyzed various measurement instruments to assess internal audit effectiveness, internal auditors' roles in the ERM and the degree of ERM implementation. The second part of the book focuses more on issues concerning the application of ERM. Indeed, theoretical justifications that could facilitate the development of new hypotheses on various internal auditing and ERM variables using multiple-theoretical approach serves as one of the main contributions of this book. These unique features are hoped to enhance empirical studies in this new area of research. List of Key Features: *Among the first of research-based internal auditing book. *Incorporates the latest research findings and measurements scales. *Includes list of research questions at the end of each chapter to facilitate readers in determining their research directions. *Encompasses details referencing each piece of literature highlighted in the book, enabling readers to directly search the concerned articles. *Integrates detailed explanations and critically analyzed theoretical justifications which simplify and tremendously facilitate researchers (PhD, Graduate and Undergraduate levels) formulating their hypotheses. Researchers at PhD level may just enhance or perhaps modify the highlighted theoretical justification without having to spend their precious time "re-inventing the wheels.

Download or read book Earnings Management and Corporate Governance An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria written by Ademola Akinteye and published by GRIN Verlag. This book was released on 2019-12-09 with total page 862 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Investment and Finance, grade: Great Distinction, UGSM-Monarch Business School Switzerland (Accounting and Finance), course: Doctor of Philosophy in Finance, language: English, abstract: The dissertation examined Earnings Management and Corporate Governance Governance Practices of the firms that are listed on the floor of the Nigerian Stock Exchange. The researcher investigated the published financial statements of all the listed companies across all the sectors of the exchange using empirical quantitative research methods. Al the variables of earnings management were extracted from the published annual financial statements and Directors Annual Reports through Content Analysis. The paper further explored all the variables of corporate governance as published by the Directors in the Annual Reports in the Financial Statements and through a face to face recorded interviews of the members of the Board of Directors, the members of the Audit Committees and the Heads of Internal Audit Functions in the Listed Public Companies. The study documented that companies that are listed on the Nigerian Stock Exchange are involved in both the upward and downward earnings management practices. This findings cut across all the Sectors and categorization of the companies on the Nigerian Stock Exchange. The research thus recommended the need for better oversight by the Board of Directors, the Audit Committee and the Market Regulators mainly the Security and Exchange Commission and the Nigerian Stock Exchange. The findings of the Research on Corporate Governance is mixed. In certain sectors, evidence of strong corporate governance are documented as reflected in the quality of Board Members, the Quality of the deliberations at the Board meetings, the independence of the Board, the independence of the Audit Committee and the independence and effectiveness of the Head of the Internal Audit function measured by the reporting line of the holder of this role. In some sectors, the ingredients of strong corporate governance were missing thus suggesting a need for a more stricter regime of corporate governance to be implemented in these corporations.

Download or read book Proceedings of the 10th International Conference on Business Accounting Finance and Economics BAFE 2022 written by Fanyu Chen and published by Springer Nature. This book was released on 2023-02-10 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book. The Faculty of Business and Finance, Universiti Tunku Abdul Rahman (UTAR) is pleased to organize the 10th International Conference on Business, Accounting, Finance, and Economics (BAFE 2022) on 11th October 2022 in virtual mode via Microsoft Teams or Zoom platform. This conference aims to bring together researchers to present up-to-date works that contribute to new theoretical, methodological and empirical knowledge

Download or read book The Audit Committee Performing Corporate Governance written by Laura F. Spira and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do we need to understand audit committees? The Cadbury Committee recommended that UK companies should adopt them in response to financial scandals that have stemmed from dubious financial reporting practices. In other countries, similar commissions have made similar recommendations and audit committees are now a common institution. However, many practitioners doubt whether an audit committee really does much to ensure the integrity of a firm's financial statements because, as outsiders, members don't know enough to dig deeply beneath the numbers. The Audit Committee: Performing Corporate Governance argues that such criticism overlooks the ceremonial function of these committees. The audit committee is an arena where members can form and strengthen shifting and fragmentary networks with each other and with the external auditors. Within these networks, both consensus and independence are demonstrated, generating comfort, which legitimises the company and maintains its access to external sources of capital. The audit committee is a key part of the corporate governance structure within an organisation. 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 will find the ethnographical perspectives on ceremonial performance, consensus, independence, and comfort both familiar and different. It's like looking at a photograph of something commonplace from an unusual angle or through a strange-shaped lens.

Download or read book Regulating From the Inside written by Iris H-Y Chiu and published by Bloomsbury Publishing. This book was released on 2015-11-05 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines a key aspect of the post-financial crisis reform package in the EU and UK-the ratcheting up of internal control in banks and financial institutions. The legal framework for internal controls is an important part of prudential regulation, and internal control also constitutes a form of internal gate-keeping for financial firms so that compliance with laws and regulations can be secured. This book argues that the legal framework for internal control, which is a form of meta-regulation, is susceptible to weaknesses, and such weaknesses are critically examined by adopting an interdisciplinary approach. The book discusses whether post-crisis reforms adequately address the weaknesses in regulating internal control and proposes an alternative strategy to enhance the 'governance' effectiveness of internal control.

Download or read book Internal Audit Function and Financial Reporting Quality written by Sewwandi W.A.U. and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of the Internal Audit Function (IAF) is continuously increasing in the current business context and among the research community. The purpose of this study is to examine the relationship between the Internal Audit Function (IAF) and Financial Reporting Quality (FRQ) in the Banking Industry of Sri Lanka. The study used a quantitative approach with the survey method as the primary data collection method. Respondents were internal auditors of 18 banks. Four sub hypotheses to examine the relationship among IAF and external audit, and eight sub hypotheses to examine the relationship between the IAF and fraudulent FR were formulated. The study mainly used regression models for data analysis. A significant relationship between IAF and external audits exists, with all four variables positively correlating to FRQ in banks. A significant relationship between the IAF and fraudulent FR exists, with all eight variables correlating to FRQ in banks (collaboration having a negative correlation). Both these relationships increase FRQ. As one of the initial studies investigating the impact of the IAF on the FRQ in Sri Lankan banks, this study promotes the importance of focusing on the IAF in the banking industry to influence the FRQ of banks. The management and boards of directors in the banks, bank regulators, and investors can identify the link between IAF and FRQ and the importance of focusing on stakeholder requirements. The paper also extends banking literature in terms of FRQ.

Download or read book Risk Matters in Healthcare written by Kay Mohanna and published by CRC Press. This book was released on 2018-04-19 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fundholding concept is now an established component of the NHS and is responsible for the growing influence of general practice in the delivery of health care. This book is comprehensive and authoritative, and a reference for GPs, practice managers and all those industries and professions providing services to general practice.

Download or read book Mapping the Literature of Internal Auditing in Europe written by S. A. Hazaea and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: Despite many firms are investing considerable resources in building and designing strong and effective internal auditing (IA) to improve corporate governance and internal control processes, IA literature is still relatively fragmented. This article provides a systematic review of studies on IA in twenty-seven (27) European countries and the United Kingdom (UK). Design/methodology/approach: Based on the Scopus database, 142 papers published between 1987 and 2022 were analysed. The study focused on evaluating and analysing the characteristics of literature and the themes investigated with a focus on four key aspects: governance, the effectiveness of IA, the relationship between internal auditors and other parties, and risk management to provide directions for future research. Findings: The study found that IA literature did not provide the integrated knowledge of internal audit functions (IAFs) and the factors that could contribute to their implementation as required. The results showed that UK, Greece and Italy dominate the published literature in terms of the number of studies. There are a few studies that investigate IA in private institutions and non-profit organisations. Interestingly, a vast majority of studies are not based on the theoretical ground. The results also showed that there is an absence of studies that discuss the impact of cultural and political systems as well as the demographic characteristics of auditors on the implementation of IAFs.Originality/value: This study is useful for researchers, organisations, and regulators as it contributes to the literature by highlighting the intellectual development of IA in the European counties and the UK and providing several directions for future studies. To the best of our knowledge, this research is the first study to use a systematic review approach in evaluating the intellectual development of IA research in the European countries, identifying areas and elements that received less attention in previous studies and providing a roadmap for future studies.

Download or read book Proceedings of the 4th International Conference on Research in Management and Technovation written by Thi Hong Nga Nguyen and published by Springer Nature. This book was released on with total page 655 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Behind the Audit Report written by Vivien Beattie and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Effective Communication Between Internal Audit and the Board and Senior Management written by Katharina Schramm and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thesis, the constituents, antecedents and outcomes of effective communication between internal audit and its key stakeholders, the board of directors and senior management, were analyzed for organizations based in Switzerland. As the Third Line of Defense for effective risk management and internal control, internal audit ideally has a dual reporting relationship in terms of a functional reporting line to the board and an additional administrative reporting line to senior management. This unique organizational position, in addition to its mandate to add value to the organization, endows internal audit with the possibility to reduce information asymmetries for the board and to improve the decision-making capability of its key stakeholders through effective upward communication. In turn, also internal audit relies on effective downward communication from its key stakeholders to align its work with the strategic and control-related needs of the organization. Consequently, effective communication between internal audit and the board and senior management should be designed as a continuous and feedback-oriented process that is characterized by vertical information flowing bottom-up from internal audit as well as top-down from the board and senior management. To empirically investigate the research phenomenon, a mixed methods strategy was applied in which the data obtained through an online survey from 113 internal auditors were evaluated using hierarchical multiple regression analysis, path analysis as well as qualitative content analysis. The empirical results confirmed that the communication quality criteria defined by the professional body for internal audit were regarded as the main constituents of effective communication. It could likewise be shown that with respect to the antecedents, the perceived behavioral control of internal auditors regarding the communication process was the most significant predictor for effectiv.

Download or read book Enterprise Risk Management written by John R. S. Fraser and published by John Wiley & Sons. This book was released on 2010-01-07 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential insights on the various aspects of enterprise risk management If you want to understand enterprise risk management from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management is the book for you. Through in-depth insights into what practitioners of this evolving business practice are actually doing as well as anticipating what needs to be taught on the topic, John Fraser and Betty Simkins have sought out the leading experts in this field to clearly explain what enterprise risk management is and how you can teach, learn, and implement these leading practices within the context of your business activities. In this book, the authors take a broad view of ERM, or what is called a holistic approach to ERM. Enterprise Risk Management introduces you to the wide range of concepts and techniques for managing risk in a holistic way that correctly identifies risks and prioritizes the appropriate responses. This invaluable guide offers a broad overview of the different types of techniques: the role of the board, risk tolerances, risk profiles, risk workshops, and allocation of resources, while focusing on the principles that determine business success. This comprehensive resource also provides a thorough introduction to enterprise risk management as it relates to credit, market, and operational risk, as well as the evolving requirements of the rating agencies and their importance to the overall risk management in a corporate setting. Filled with helpful tables and charts, Enterprise Risk Management offers a wealth of knowledge on the drivers, the techniques, the benefits, as well as the pitfalls to avoid, in successfully implementing enterprise risk management. Discusses the history of risk management and more recently developed enterprise risk management practices and how you can prudently implement these techniques within the context of your underlying business activities Provides coverage of topics such as the role of the chief risk officer, the use of anonymous voting technology, and risk indicators and their role in risk management Explores the culture and practices of enterprise risk management without getting bogged down by the mathematics surrounding the more conventional approaches to financial risk management This informative guide will help you unlock the incredible potential of enterprise risk management, which has been described as a proxy for good management.

Download or read book Cognitive Risk written by James Bone and published by CRC Press. This book was released on 2023-04-18 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cognitive Risk is a book about the least understood but most pervasive risk to mankind – human decision-making. Cognitive risks are subconscious and unconscious influence factors on human decision-making: heuristics and biases. To understand the scope of cognitive risk, we look at case studies, corporate and organizational failure, and the science that explains why we systemically make errors in judgment and repeat the same errors. The book takes a multidisciplinary and pedestrian stroll through behavioral science with a light touch, using stories to explain why we consistently make cognitive errors that not only increase risks but also simultaneously fail to recognize these errors in ourselves or our organizations. This science has deep roots in organizational behavior, psychology, human factors, cognitive science, and behavioral science all influenced by classic philosophers and enabled through advanced analytics and artificial intelligence. The point of the book is simple. Humans persist with bounded rationality, but as the speed of information, data, money, and life in general accelerates, we will need the right tools to not only keep pace but to survive and thrive. In light of all these factors that complicate risk, the book offers a foundational solution. A cognitive risk framework for enterprise risk management and cyber security. There are five pillars in a cognitive risk framework with five levels of maturity, yet there is no universally prescribed maturity level. It is more a journey of different paths. Each organization will pursue its own path, but the goal is the same – to minimize the errors that could have been avoided. We explain why risks are hard to discuss and why we systematically ignore the aggregation of these risks hidden in collective decision-making in an organization. The cognitive risk framework is a framework designed to explore the two most complex risks organizations face: uncertainty and decision-making under uncertainty. The first pillar is cognitive governance, which is a structured approach for institutionalizing rational decision-making across the enterprise. Each pillar is complimentary and builds on the next in a succession of continuous learning. There is no endpoint because the pillars evolve with technology. Enterprise risk is a team effort in risk intelligence grounded in a framework for good decision-making. We close with a call to become designers of risk solutions enabled by the right technology and nurtured by collaboration. We hope you enjoy the book with this context.