THE IMPACT OF THE CHARACTERISTICS OF THE AUDIT COMMITTEE ON CORPORATE GOVERNANCE AND IMPROVING THE QUALITY OF FINANCIAL REPORTS: A STUDY IN THE CORPORATE DEPARTMENT

Authors

  • Zainab Hadi Mahdi University of Qadisiyah, College of Administration and Economics, Iraq

Keywords:

Haracteristics, Audit Committee, Corporate Governance, Quality Of Financial Reports

Abstract

This study aimed to identify the role of the audit committee and its impact on improving the quality of financial reports, as well as its impact on the efficiency and effectiveness of the audit and the quality of information in financial reports. To achieve this goal, studies related to both governance, the audit committee, and the quality of financial reports have been extrapolated, and the characteristics of the audit committee, how it is formed, and what is the quality of financial reports and ways to measure them have been extrapolated. One of the most important results was that there is a positive relationship between the independence of the committee, scientific qualification and financial experience, and the quality of financial reports. The study concluded with a set of recommendations, the most important of which is the need to pay attention to the characteristics that must be available in the audit committee and to preserve their independence

References

- 17- Dr. Fayza Mahmoud Helmy Younes, (1996), audit committees and their role in strengthening the independence of the internal auditor in joint stock companies in Egypt, an exploratory field study, the Egyptian Journal of Commercial Studies, Faculty of Commerce, Mansoura University, Vol. Twenty, Issue One, p. 273

- Abdel Moneim Mohamed Abdel Moneim, Issa Mohamed Abu Tabl, reviewing its scientific and practical origins, pp. (Cairo: Dar Al-Nahda Al-Masryah, 1982 AD).

- Academy of the Arabic Language, Cairo, 2002

- Al-Fatlawi, Laila Naji Majid, “The effect of applying corporate governance in limiting profit management practices – by applying it to a sample of joint stock companies listed in the Amman and Iraq stock exchanges”, PhD thesis in Accounting, College of Administration and Economics, University of Baghdad, . 2011

Ali, A. (2000) Audit committees role in improving corporate governance- DAWN – Business, 24 July. WWW- google-com, pp.3-5.

- Al-Munif, Abdullah Ali, Al-Hamid, Abdul-Rahman Ibrahim, “The functions of the audit committee and the criteria for selecting its members.”

- Al-Shara’, Alaa Hassan Karim, The role of audit committees in reducing earnings management practices and their impact on the quality of financial reports published for Iraqi public shareholding companies, Al-Muthanna Journal for Administrative and Economic Sciences, Volume 7, Issue 1, 2017

An applied study in the Kingdom of Saudi Arabia", Journal of King Abdulaziz University, Administration and Economics, Volume, 11.

Andrew, D. (2004). Non- profit governance reforms: five steps toward improve accountability, Monday Business Briefing, Vol. 25, May.

- Bougherra Rabeh Ghanem Hajar,. Corporate governance is a mechanism to reduce financial and administrative corruption. The National Forum for Financial Informers, Banks and Business Administration. 2012

- Cadbury Commission Report 1992

Dionne ,Georges , Triki, Thouraya, Risk Management and Corporate Governance: The Importance of Independence and Financial Knowledge for the Board and the Audit Committee , Working paper, 2005.

Dorothy, A. M. (1996). audit committee performance: an investigation of consequences associated with audit committee. Journal of Practice and Theory, Vol. 15,No.1 (spring); PP 87 – 103

Dorothy, A. M. (1996). audit committee performance: an investigation of consequences associated with audit committee. Journal of Practice and Theory, Vol. 15,No.1 (spring); PP 87-103.

- Dr.. Zuhair Abdel-Karim Al-Kayed), (2003) Al-Hakamaniah: Cases and Applications, The Arab Organization for Administrative Development, p. 245

Ganesh, K., W. Arnie, and C. Jeffrey. (2002). Auditor’s views on audit committees and financial reporting quality. The CPA Journal, October; PP 56-66

- Hazem Hassan, ((2001), the Corporate Audit Committee... Is it time to form it? Accounting Journal, Egyptian Accountants and Auditors Association, Cairo, Issue No. 9, January and March, pg.-1 p.2

- Jarman, Ayman, The Role of Audit Committees in Improving the Quality of Financial Information, a memorandum included in the requirements for obtaining an academic master’s degree in commercial sciences, Larbi Ben M’hidi University - Oum El Bouaghi, Faculty of Economics, Commercial Sciences and Management Sciences, 2017.

Lisic, et.al, Does Audit Committee Accounting Expertise Help to Promote Audit Quality? Evidence from Auditor Reporting of Internal Control Weaknesses, Contemporary Accounting Research Vol. 36 No. 4 ,(Winter 2019).

- Lou, Nassim Youssef, Rafu, Rafi Nizar Jamil, The Role of Audit Committees as One of the Mechanisms of Corporate Governance in Predicting the Financial Failure of Companies in Iraq, Journal of the College of Administration and Economics for Economic, Administrative and Financial Studies, Volume 11, Issue 1, 2019

- Makkawi, Farid, and others, The reflection of corporate governance on the quality of financial reports in Algerian economic institutions, a memorandum submitted to complete the requirements for an academic master’s degree, University of Echahid Hama Lakhdar in El Wadi, Faculty of Economics, Commercial and Management Sciences, Department of Accounting and Finance, 2019

- Metwally Mohamed El-Gamal, Abdel-Moneim, reviewing the theoretical framework and the applied field (Cairo: Dar Al-Nahda Al-Arabiya, 1980).

- Mohammad, Fatima Jassim, Al-Sager, Adel Thamer, Evaluating the Effectiveness of Audit Committees in Iraqi Private Banks, Journal of Economic Sciences, Issue 30, Volume 8, 2012.

Nashwa, G. (2003). Audit committee: the solution to quality financial reporting? The CPA Journal, December; PP 6-9.

Nashwa, G. (2003). Audit committee: the solution to quality financial reporting? The CPA Journal, December; PP 6.

Nashwa, G. (2003). Ibid., P6

- Omar Musa al-Khair Muhammad Ali, “The Role of Audit Committees in Corporate Governance in the Khartoum Stock Exchange”, a field study, a supplementary study to obtain a Master of Science in Accounting, College of Graduate Studies and Scientific Research, Shendi University, 2017

- Saleh, Ahmed Ali, “Building an Intellectual Capital Portfolio from Knowledge Patterns and an Appropriate Extent of Corporate Governance,” PhD thesis in Business Philosophy, University of Baghdad, unpublished, 2006

Shleifer, A., and Vishny R., (1997), A survey of corporate governance, Journal of Finance Vol. 52,No.2.

Sullivan, J., (2009), The Moral Compass of Companies: Business Ethics and Corporate Governance as Anti-Corruption Tools, International finance corporation (IFC).

To the National Forum on Corporate Governance as a Mechanism to Reduce Financial and Administrative Corruption, Algeria. 2012

Velte, Patrick, the link between audit committees, corporate governance quality and firm performance: a literature review, Journal Corporate Ownership & Control / Volume 14, Issue 4, Summer 2017.

Waweru , Nelson, et.al, Audit committees and corporate governance in a developing country, Int. J. Accounting, Auditing and Performance Evaluation, Vol. 7, No. 4, 2011.

- Zein El-Din, Brosh, Jaber, Dehimi, "The Role of Governance Mechanisms in Reducing Financial and Administrative Corruption", Research Presented.

- http://site.iugaza.edu.ps/rmotair/files/2010/02/Article OCDE, Principes de la gouvernement d'entreprise, 2004, sur le site d'Internet : http://www.oecd.org.

- https://www.maaal.com/archives/20190424/122107

Downloads

Published

2022-11-07

How to Cite

Zainab Hadi Mahdi. (2022). THE IMPACT OF THE CHARACTERISTICS OF THE AUDIT COMMITTEE ON CORPORATE GOVERNANCE AND IMPROVING THE QUALITY OF FINANCIAL REPORTS: A STUDY IN THE CORPORATE DEPARTMENT. World Bulletin of Management and Law, 16, 55-64. Retrieved from https://scholarexpress.net/index.php/wbml/article/view/1611

Issue

Section

Articles