The association between audit committee effectiveness and audit risk

Contessotto, Christine and Moroney, Robyn 2014, The association between audit committee effectiveness and audit risk, Accounting & finance, vol. 54, no. 2, pp. 393-418, doi: 10.1111/acfi.12010.

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Title The association between audit committee effectiveness and audit risk
Author(s) Contessotto, ChristineORCID iD for Contessotto, Christine
Moroney, Robyn
Journal name Accounting & finance
Volume number 54
Issue number 2
Start page 393
End page 418
Total pages 26
Publisher Wiley
Place of publication Oxford, Eng.
Publication date 2014-06
ISSN 0810-5391
Summary Audit committees (ACs) are expected to play a key role in improving financial statement integrity and as a consequence reduce audit risk. Companies reporting conformity with regulations can have an AC that appears effective but is not actually effective in substance. We surveyed audit partners and managers to identify their indicators of actual AC effectiveness (auditor-chosen list). We hypothesize a negative association between AC effectiveness and audit risk, only when an auditor-chosen list, rather than extent of conformity with regulations, is used to measure effectiveness. Results support our expectations.
Language eng
DOI 10.1111/acfi.12010
Field of Research 150102 Auditing and Accountability
Socio Economic Objective 900199 Financial Services not elsewhere classified
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2014, Wiley
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Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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