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The association between audit committee effectiveness and audit risk

journal contribution
posted on 2023-10-18, 00:45 authored by Christine ContessottoChristine Contessotto, R Moroney
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.

History

Journal

Accounting & finance

Volume

54

Pagination

393-418

Location

Oxford, Eng.

ISSN

0810-5391

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

2014, Wiley

Issue

2

Publisher

Wiley

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