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1
Singhvi, Meghna. "Audit Committee Director Turnover". FIU Digital Commons, 2011. http://digitalcommons.fiu.edu/etd/448.
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Actions by both private sector organizations and legislators in recent years have highlighted the importance of the audit committee of the board of directors of corporations in the financial reporting process. For example, the Sarbanes Oxley Act of 2002 has multiple sections that deal with the composition and functioning of audit committees. My dissertation examines multiple issues related to the composition of audit committees.
In the first two parts of my dissertation, I examine the stock market reactions to disclosures of audit committee appointments and departures in the 8-Ks filed with the SEC during 2008 and 2009. I find that there is a positive stock market reaction to the appointment of audit committee directors who are financial experts. The second essay investigates the cumulative abnormal return to departure of audit committee directors. I find that when an accounting expert leaves the audit committee, the market reaction is significantly negative. These results are consistent with regulators’ concerns related to having directors with audit, accounting and other financial expertise on corporate audit committees.
The third essay of my dissertation examines the changes in audit committee composition in the last decade. I find that while the increase in audit committee size is relatively modest, there has been a significant increase in the number of audit committee experts and the frequency of audit committee meetings over the past decade; interestingly, such increase in the number of meetings has persisted even after the media focus on the auditing profession, in the immediate aftermath of the Enron and Andersen failures, have waned. My results show that audit committee composition and its role continues to evolve with regulatory and other corporate governance related changes.
2
Marx, B., i D. Lubbe. "The role of the audit committee in supporting the external auditor's independence and effectiveness". Journal for New Generation Sciences, Vol 8, Issue 3: Central University of Technology, Free State, Bloemfontein, 2010. http://hdl.handle.net/11462/571.
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Published ArticleThis article discusses the developments and factors that impact on the external audit function, and analyses the role that an effectively functioning audit committee can play in supporting the external auditor's independence and effectiveness. This is done through a literature review of external audit and audit committee developments, and is supported by empirical evidence obtained from assessing the annual reports and from questionnaires sent to the audit committee chairs of the Top 40 listed companies in South Africa. The main findings of the study are that audit committees at the largest listed companies in South Africa are taking responsibility for overseeing the external audit function, but that the disclosure thereof in annual reports was found to be lacking. These findings are of significance as they provide support for the recommendations of King III (effective from 1 March 2010) that all companies should form audit committees and that external audit should be given oversight responsibilities in this regard.
3
KURKOWSKI, JENNIFER. "The new audit committee: The effect of the Sarbanes-Oxley Act of 2002 on audit committees /". Staten Island, N.Y. : [s.n.], 2004. http://library.wagner.edu/theses/business/2004/thesis_bus_2004_kurko_new.pdf.
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Mat, Zain Mazlina, i n/a. "The Impact of Audit Committee and Internal Audit Attributes on Internal Audit Contribution to Financial Statement Audits and Audit Fees: Perceptions of Malaysian Internal Auditors". Griffith University. Griffith Business School, 2005. http://www4.gu.edu.au:8080/adt-root/public/adt-QGU20060814.111202.
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This thesis has two (2) broad objectives. The first objective is to test the impact of audit committee and internal audit (IA) function characteristics on IA contribution to the financial statement audit. The second objective is to investigate whether a negative association exists between IA contribution to the financial statement audit and audit fees. The study is conducted in a Malaysian context and focuses on the perspectives of internal auditors. There are a number of motivations for the study. In particular, previous studies have not addressed the need for a better understanding of how corporate governance mechanisms such as audit committee and IA unit attributes may affect IA contribution to the financial statement audit. Also, the results of prior studies on the link between IA contribution to the financial statement audit and audit fees are mixed and inconclusive. Furthermore, there is limited empirical evidence in this area from emerging economy countries, with relatively less developed capital markets such as Malaysia. The underlying theme throughout this thesis is that corporate governance mechanisms i.e., audit committee and IA characteristics have the potential to affect the efficiency of the IA unit thus leading to greater contribution of IA to financial statement audits. Specifically, the thesis argues that certain characteristics of audit committees such as the independence of audit committee members from the management, audit committee members' experience and knowledge in accounting, auditing and finance and their level of interactions with the chief internal auditor have the potential to increase the contribution of IA work to financial statement audits. Likewise, it is also postulated that characteristics of the IA function such as their size and prior experience of their staff in auditing are likely to improve the level of efficiency and hence, encourage greater contribution of IA to the external audit work. Finally, due to the saturation of the audit services market coupled with significant competition among public accounting firms, it is also predicted that the contribution of IA work is increasingly viewed as a potential means of improving external audit efficiency (i.e. by reducing time and effort), leading to lower audit fees. Seven (7) hypotheses are tested in this study based on Malaysian data during 2003. Data collection adopted a multi approach with three (3) key sources of data: a questionnaires survey, in-depth interviews and publicly available data from annual reports. The data collection process involved a mail survey addressed to the chief internal auditors of companies listed on the Kuala Lumpur Stock Exchange (KLSE) Main Board. Five-hundred and two questionnaires (502) were mailed and a total of 101 (20.03%) responses were returned, of which 76 (17.9%) were useable. In addition, in-depth interviews were conducted with 11 chief internal auditors selected from various industries which were also listed on the KLSE Main Board. Finally, publicly available data from annual reports were utilized. The study makes a number of contributions. First, it provides empirical evidence on the impact of audit committee characteristics on IA contribution to financial statement audits. In particular, the study supports a positive relationship between IA contribution to the financial statement audit and three (3) dimensions of audit committee characteristics namely the proportion of independent audit committee members, the extent of audit committee members' experience and knowledge in auditing, accounting and finance, and the frequency of meetings between the chief internal auditor and the audit committee. This suggests that a high proportion of independent audit committee members with experience and knowledge in accounting, auditing and finance is able to enhance the efficacy of the IA function and thus, encourages external auditors to rely more on the IA function. The results support the earlier predictions that more frequent meetings conducted between audit committees and the chief internal auditor leads to higher extent of IA contribution to the financial statement audit. Further, findings of this study also provides support for the positive relationship between the characteristics of the IA function, namely the size of the IA function and the proportion of staff with prior experience in auditing and IA contribution to the financial statement audit. The results suggest that internal auditors contribute more to the financial statement audit when the size of the IA function is larger and when the proportion of IA staff with prior experience in auditing is higher. Finally, the second model tests for a negative relationship between IA contribution to the financial statement audit and audit fees. However, the results did not yield a significant relationship between these two variables. Further clarifications for this result were derived from the interviews with the chief internal auditors. Specifically, it appears that any saving in time and effort due to the contribution of IA to financial statement audits may possibly be used by external auditors to expand their investigations into other more complex areas that require greater attention from them. Other findings from the interviews also suggest that audit committees play an important role as communication facilitators between the IA staff and management, especially by providing a candid forum for IA staff to express their opinions as well as supporting IA staff's recommendations based on their findings during audit investigations. Further, the leadership role of the audit committee also tends to assist the internal auditors to better communicate with management and to ensure that management will act upon the internal auditor's recommendations. In conclusion, the findings may have some implications for regulators and others concerned with establishing guidelines and listing rules pertaining to audit committee effectiveness especially in developing countries. Furthermore, this study also contributes to the literature on how an IA unit's resourcing has implications for IA contribution to the financial statement audit. While the current professional standards (i.e., ISA 610, SAS 65, and AUS 604) view IA as a substitute for external audit, such professional standards also require external auditors to evaluate the quality of IA unit before relying on the work of IA or accept the contribution of IA to the financial statement audit. As such, this study provides evidence on the potential impact that audit committees and IA units may have on such contribution of IA to the financial statement audit.
5
Mat, Zain Mazlina. "The Impact of Audit Committee and Internal Audit Attributes on Internal Audit Contribution to Financial Statement Audits and Audit Fees: Perceptions of Malaysian Internal Auditors". Thesis, Griffith University, 2005. http://hdl.handle.net/10072/366709.
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This thesis has two (2) broad objectives. The first objective is to test the impact of audit committee and internal audit (IA) function characteristics on IA contribution to the financial statement audit. The second objective is to investigate whether a negative association exists between IA contribution to the financial statement audit and audit fees. The study is conducted in a Malaysian context and focuses on the perspectives of internal auditors. There are a number of motivations for the study. In particular, previous studies have not addressed the need for a better understanding of how corporate governance mechanisms such as audit committee and IA unit attributes may affect IA contribution to the financial statement audit. Also, the results of prior studies on the link between IA contribution to the financial statement audit and audit fees are mixed and inconclusive. Furthermore, there is limited empirical evidence in this area from emerging economy countries, with relatively less developed capital markets such as Malaysia. The underlying theme throughout this thesis is that corporate governance mechanisms i.e., audit committee and IA characteristics have the potential to affect the efficiency of the IA unit thus leading to greater contribution of IA to financial statement audits. Specifically, the thesis argues that certain characteristics of audit committees such as the independence of audit committee members from the management, audit committee members' experience and knowledge in accounting, auditing and finance and their level of interactions with the chief internal auditor have the potential to increase the contribution of IA work to financial statement audits. Likewise, it is also postulated that characteristics of the IA function such as their size and prior experience of their staff in auditing are likely to improve the level of efficiency and hence, encourage greater contribution of IA to the external audit work. Finally, due to the saturation of the audit services market coupled with significant competition among public accounting firms, it is also predicted that the contribution of IA work is increasingly viewed as a potential means of improving external audit efficiency (i.e. by reducing time and effort), leading to lower audit fees. Seven (7) hypotheses are tested in this study based on Malaysian data during 2003. Data collection adopted a multi approach with three (3) key sources of data: a questionnaires survey, in-depth interviews and publicly available data from annual reports. The data collection process involved a mail survey addressed to the chief internal auditors of companies listed on the Kuala Lumpur Stock Exchange (KLSE) Main Board. Five-hundred and two questionnaires (502) were mailed and a total of 101 (20.03%) responses were returned, of which 76 (17.9%) were useable. In addition, in-depth interviews were conducted with 11 chief internal auditors selected from various industries which were also listed on the KLSE Main Board. Finally, publicly available data from annual reports were utilized. The study makes a number of contributions. First, it provides empirical evidence on the impact of audit committee characteristics on IA contribution to financial statement audits. In particular, the study supports a positive relationship between IA contribution to the financial statement audit and three (3) dimensions of audit committee characteristics namely the proportion of independent audit committee members, the extent of audit committee members' experience and knowledge in auditing, accounting and finance, and the frequency of meetings between the chief internal auditor and the audit committee. This suggests that a high proportion of independent audit committee members with experience and knowledge in accounting, auditing and finance is able to enhance the efficacy of the IA function and thus, encourages external auditors to rely more on the IA function. The results support the earlier predictions that more frequent meetings conducted between audit committees and the chief internal auditor leads to higher extent of IA contribution to the financial statement audit. Further, findings of this study also provides support for the positive relationship between the characteristics of the IA function, namely the size of the IA function and the proportion of staff with prior experience in auditing and IA contribution to the financial statement audit. The results suggest that internal auditors contribute more to the financial statement audit when the size of the IA function is larger and when the proportion of IA staff with prior experience in auditing is higher. Finally, the second model tests for a negative relationship between IA contribution to the financial statement audit and audit fees. However, the results did not yield a significant relationship between these two variables. Further clarifications for this result were derived from the interviews with the chief internal auditors. Specifically, it appears that any saving in time and effort due to the contribution of IA to financial statement audits may possibly be used by external auditors to expand their investigations into other more complex areas that require greater attention from them. Other findings from the interviews also suggest that audit committees play an important role as communication facilitators between the IA staff and management, especially by providing a candid forum for IA staff to express their opinions as well as supporting IA staff's recommendations based on their findings during audit investigations. Further, the leadership role of the audit committee also tends to assist the internal auditors to better communicate with management and to ensure that management will act upon the internal auditor's recommendations. In conclusion, the findings may have some implications for regulators and others concerned with establishing guidelines and listing rules pertaining to audit committee effectiveness especially in developing countries. Furthermore, this study also contributes to the literature on how an IA unit's resourcing has implications for IA contribution to the financial statement audit. While the current professional standards (i.e., ISA 610, SAS 65, and AUS 604) view IA as a substitute for external audit, such professional standards also require external auditors to evaluate the quality of IA unit before relying on the work of IA or accept the contribution of IA to the financial statement audit. As such, this study provides evidence on the potential impact that audit committees and IA units may have on such contribution of IA to the financial statement audit.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Full Text
6
Jamil, Nurul Nazlia. "The effects of politically connected audit committees on audit fee and audit process : evidence in Malaysia". Thesis, University of Manchester, 2017. https://www.research.manchester.ac.uk/portal/en/theses/the-effects-of-politically-connected-audit-committees-on-audit-fee-and-audit-process-evidence-in-malaysia(15096026-5152-49e5-97fe-7ef52cafd8fb).html.
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This study aims to contribute to an understanding of politically connected audit committees on audit fees and the audit process in an emerging market, using the case of Malaysia. Malaysia offers an interesting and important setting as Malaysian companies are highly concentrated and politically sensitive. In particular, the study seeks to: (i) examine the level of political connections represented in the audit committees associated with the level of audit fees incurred by Malaysian public listed companies; and (ii) examine whether politically connected audit committees have an impact on the audit process. Currently, there is scant evidence on the influence of politically connected audit committees on audit fees and the audit process. The study draws upon agency and resource dependence theories, which suggest that politically connected audit committees serve two important functions: monitoring on behalf of the shareholders, and providing resources to the companies. For the purpose of this study, a mixed method approach (archival data analysis and interviews) has been adopted. Four hypotheses are tested: (1) There is a positive relationship between the proportion of audit committee members who are senior government officers (SGO) and audit fees; (2) There is a positive relationship between the proportions of audit committee members who are politicians and audit fees; (3) There is a positive relationship between the percentage of government shares and audit fees; and (4) There is a positive relationship between audit committee characteristics (independence, size, meeting and financial expertise) and audit fees. In addition, the knowledge obtained from the interviews with Big 4 auditors and members of audit committees from the selected companies provide further insights on the influence of political connections on the audit process. The results of the study indicate that politically connected audit committees (identified by members who are either senior government officers or politicians) have a significant association with the incidence of higher audit fees. This suggests that politically connected audit committees are able to capitalise on their connections to influence companies and create direct demand for the auditors to increase their audit effort, as measured by audit fees. Contrary to expectations, this study did not find a significant relationship between government shares and audit fees. This result may be explained by the fact that government shares are managed by a variety of institutions on behalf of the government, and differences in the objectives and characteristics of the institutions that administer the shares can weaken the demand for higher efforts from auditors. An in-depth analysis of the interviews further reveals that political connections do affect the audit process. It appears that the existence of political connections leads to an increase in audit work such in a variety of ways, such as auditor-client negotiations, private meetings with audit committees and re-engineering the scope and planning of the actual audit work. One of the issues that emerges from these findings is that companies highly value political connections to obtain external resources given the uncertainties in the business environment. Also, the findings highlight the need for stronger corporate governance to mitigate the higher inherent audit risks in politically connected companies.
7
Seay, Emily Renee. "AN AUDIT COMMITTEE MEMBER’S ROLE IN AUDIT ADJUSTMENT DISPUTES: THE EFFECT OF EXTERNAL AUDITOR ATTACHMENT ON AN AUDIT COMMITTEE MEMBER’S ASC 360 ADJUSTMENT DECISIONS". OpenSIUC, 2016. https://opensiuc.lib.siu.edu/dissertations/1157.
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Audit committee members play a pivotal role in the audit process, specifically, when negotiating disputes between management and the external auditor concerning audit adjustments. According to Auditing Standard 16 (formerly AU Section 380.34-.44), the external auditors are required to discuss, with the audit committee, all significant findings resulting from the completion of the audit including: (i) qualitative aspects of estimates; (ii) uncorrected misstatements; and (iii) disagreements with management (PCAOB 2015). Prior literature suggests an audit committee’s propensity to support the external auditor when dealing with the issues described above (Knapp 1987; DeZoort and Salterio 2001; DeZoort et al. 2003b; DeZoort et al. 2003a). However, these studies do not address how behavioral factors such as a relationship between the external auditors and audit committee members can affect a member’s stance on a proposed audit adjustment. The purpose of this study is to investigate the effect that the relationship between audit committee members and external auditors has on a member’s recommendation for proposed audit adjustments during a management dispute with the external auditor (i.e., whether they side with the external auditors or management). Specifically, this experiment examines the effects of relationships and the mediating effect of external auditor tenure on an audit committee member's judgments through the application of several social cognitive theories: (i) attachment theory; (ii) social judgment theory; (iii) and internal working models. Results indicate that external auditor/audit committee member relationships and auditor tenure significantly influence an audit committee member’s decision making when faced with an auditor/management dispute. Also, auditor tenure (long) does not negatively affect audit quality.
8
Wang, Zijian. "Board characteristics, audit committee, and audit fees : Evidence from Swedish listed companies". Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-202576.
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This thesis examines the empirical relationship between a set of board characteristics (i.e. independence, diligence and expertise), audit committee (existence, characteristics and status within the board), and audit fees in a sample of Nasdaq OMX Stockholm-listed companies. The author investigates the relationship using a sample of 187 company-year observations for year 2011. Through multivariate regression analysis, the author found that more independent boards are associated with lower audit fees, while more expert boards and audit committee existence are associated with higher audit fees at the conventional levels. Results as such suggest that board independence, expertise and audit committee existence can influence the demand for audit coverage. Through further analyzing a subsample of 116 companies with audit committees, the author additionally found that more audit committee meetings are associated with higher audit fees, while wholly independent audit committees and an increase in the relative size of audit committee to nomination committee are associated with lower audit fees at the conventional levels. These findings are supportive for the Swedish regulatory requirement of adopting audit committees in the Nasdaq OMX Stockholm-listed companies effective from 2009 and have implications for enhancing board- and audit committee effectiveness in the Swedish listed companies.
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Roffler, Mario. "Professionalität in Schweizer Audit Committees". St. Gallen, 2008. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/04607396001/$FILE/04607396001.pdf.
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Bungkilo, Dej-anan. "The role of audit committees among publicly listed companies in Thailand : cases of audit committee oversight of enterprise risk management". Thesis, University of Hull, 2017. http://hydra.hull.ac.uk/resources/hull:16520.
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This research focuses on the role of audit committees among publicly listed companies in Thailand, a non-Western context when overseeing their companies’ enterprise risk management systems. A mixed methods research approach, including quantitative and qualitative methods was used to gather and analyse the research data. The results reveal that just above a quarter of the participants in the sample believe that companies in which they had worked as part of the audit committee have mature and robust risk management systems in place, while more than half of the survey audit committee chairs/members indicate that their companies have implemented risk management systems, but they require substantial work. The findings demonstrate no significant impact of the perceived higher levels of oversight responsibility for enterprise risk management on audit committees’ judgement competence. However, this study finds that audit committees who perceived higher levels of oversight responsibility of enterprise risk management have a strong positive impact on their perceptions of the quality of enterprise risk management. The findings also show that the audit committees’ judgement competence mediates the association between the audit committees’ activities in overseeing the internal and external audit functions and the audit committees’ perceptions of the quality of enterprise risk management. The qualitative interview results of this study uncover 11 processes that audit committees utilised to perform the risk oversight task: (1) scope of risk oversight, (2) risk oversight as a collective process, (3) understanding of business and risks, (4) scepticism, (5) focus on high-risk, high-impact, (6) challenging and forcing, (7) use of specialists, (8) give advice and recommendations, (9) provide support and assistance, (10) informal processes, and (11) follow-ups. In addition, the findings show that all of interviewees perceived the risk oversight responsibility as important. Such positive perceptions of the risk oversight task influenced audit committee chairs/members of this study to get involve closer in the internal and external audit functions. The findings report that they made a holistic judgement based on two components: information and perception. However, in the last step of the decision-making process, they demonstrate a willingness to accept their decisions under unknown conditions.
11
Gabre, Helen G. "An empirical investigation of audit committee decision quality /". Full text available from ProQuest UM Digital Dissertations, 2008. http://0-proquest.umi.com.umiss.lib.olemiss.edu/pqdweb?index=0&did=1850412431&SrchMode=1&sid=2&Fmt=2&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1279138636&clientId=22256.
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Thesis (Ph.D.)--University of Mississippi, 2008.Typescript. Vita. Major professor: Dr. Morris H. Stocks Includes bibliographical references (leaves 133-145). Also available online via ProQuest to authorized users.
12
Rich, Kevin T. "Audit committee accounting expertise and changes in financial reporting quality". Thesis, Connect to title online (Scholars' Bank) Connect to title online (ProQuest), 2009. http://hdl.handle.net/1794/10238.
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Lee, Soo Sin. "Audit Committee Expectations on the Effectiveness of the Internal Audit Function: A Malaysian Perspective". Thesis, Curtin University, 2017. http://hdl.handle.net/20.500.11937/59670.
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This study draws on a multi-theoretical lens to explore how the contextual and environmental factors have impacted on the internal audit practices of listed issuers in Malaysia. This study finds that listed issuers decouple the regulatory requirements to stay legitimate. Top management’s scepticism over value contribution of internal audit function has relegated its significant role in governance. A refined framework is developed incorporating the audit committee’s expectation on enhancement of the effectiveness of the internal audit function.
14
Koranteng, Isaac. "Audit committee effectiveness in an Eastern Cape provincial department". Thesis, Nelson Mandela Metropolitan University, 2015. http://hdl.handle.net/10948/4045.
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The discussion on the extent to which audit committees perform the oversight function of financial governance is important. This is particularly so in the Eastern Cape where the implementation of the Public Finance Management Act (PFMA) of 1999 has not significantly improved financial management. The deteriorating financial management environment of provincial departments impacts negatively on service delivery and is therefore a matter of great concern to the political administrators at both national and provincial levels. The objective of this study is to determine how effective audit committees are in Eastern Cape provincial departments and how this translates into good financial governance and, ultimately, improved service delivery. To achieve this objective, a literature review of the link between audit committee effectiveness, accountability and corporate governance in the public sector was conducted. It was found that audit committees in the public sector have similar responsibilities to that of the private sector and lack of accountability in the public sector impacts negatively on service delivery. A second literature review was conducted to highlight the current state of public financial management in South Africa and how this has had an impact on financial management in Eastern Cape provincial departments. A qualitative research methodology was applied because the researcher is of the opinion that the research question asked is more interpretive than predictive. An interview survey was conducted in which senior management officials were selected from provincial departments and interviewed using semi-structured questions. The research study concluded, that provincial departments in the Eastern Cape have all established audit committees in line with the Public Finance Management Act (PFMA) National Treasury regulations. These committees are however ineffective. Ineffectiveness is as a result of, among other factors, lack of stability in accounting officer and chief financial officer positions. Secondly, senior management have not been made to account for the persistent negative audit outcomes in their departments. The research recommends that the political leadership of the province should ensure stability in leadership, particularly in the position of accounting officer and the chief financial officer.
15
Tangruenrat, Chanchai. "Audit committee process in the emerging market of Thailand". Thesis, University of Manchester, 2014. https://www.research.manchester.ac.uk/portal/en/theses/audit-committee-process-in-the-emerging-market-of-thailand(17d6c1ac-7f69-4157-b041-c9c70d6a3522).html.
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This thesis examines the effects of behavioural traits and power on the governance role of audit committees (ACs). A conceptual view implicit in most extant studies is that the AC process is similar across countries, and as such research tends to focus on the existence of, and effects associated with, structural features as stipulated in governance codes based on agency theory. In contrast, this thesis is premised on the view that, while the adoption of ACs is influenced inter alia by international convergence, local country factors are also potentially a major influence affecting the role and functioning of ACs. Apart from the country factors, the causes for variations in AC’s impacts on the external audit have not been subject to much research. In response to the calls for additional theoretical work on AC operations and more studies on the AC process, this thesis introduces the concepts of behavioural traits and power to the study of ACs. Semi-structured interviews of the ACs and the participants in the AC process in Thailand were conducted during 2011 and 2012. The interviewees include 11 AC members (three being foreigners in Thai ACs), 12 external auditors and 17 other participants. The research explores how “behavioural traits”—the behaviour of interviewees as conditioned by the cultural context—affect AC governance role. Power is analysed in terms of contexts and structures, sources of power, will and skill, and content of power, a model proposed by Pettigrew and McNulty (1998; 1995).This thesis finds that while professional traits, such as AC independence, expertise, and diligence, still play a role in conditioning the AC process and related outcomes, behavioural traits and the will and skill to exercise power by the ACs and the AC participants are fundamental to the AC process. Krengjai, one of the most prominent Thai behavioural traits, has both positive and negative effects on the AC governance process, depending on the level of krengjai of the participants. Krengjai may lead to positive governance outcomes when the other participants in the AC process are krengjai of the ACs. On the contrary, governance can be compromised when the ACs are krengjai of the other participants in the AC process, whether of another AC member, management or external auditor. The participation of foreign AC members in Thai ACs in this research results in strong and diverse ACs because of their lower krengjai trait. The findings also reveal that, although there are wide variations of AC’s influence on the governance process, especially in the areas of auditor selection and the resolution of disputes between management and external auditors, a majority of ACs in this research only have ceremonial effects. On auditor selection, the main causes of AC’s ceremonial effect are the perception of similar quality among the Big-4 audit firms, favouring of management preferences regarding auditor choice by ACs and time constraints of AC members, all of which result in reduced will to exercise power by ACs. However, ACs with strong will and skill to exercise power can also effect auditor changes. The AC’s effects on dispute resolution vary, depending very much on the AC’s will to deploy power. Factors causing ACs to have weak will include the lack of AC independence and the krengjai behavioural trait of AC members. Inadequate power source (knowledge), skill and context also contribute to ACs only having ceremonial influence. The thesis reveals that for ACs to have significant influence, they need a combination of all power components appropriate to the circumstances.
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Zeng, June-Wei, i 曾峻緯. "Audit Committee and Audit Quality". Thesis, 2012. http://ndltd.ncl.edu.tw/handle/77410376988801192421.
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碩士國立雲林科技大學
會計系研究所
100
This study examines whether the establishment of audit committees would contribute the audit quality and whether the longer the establishment of audit committees the better oversight effects. The empirical tests are conducted using TEJ database for firms listed on the Taiwan Stock Exchange with fiscal year ends between 2008 and 2010. The final sample consists of 2,155 firm years. The audit quality is proxied by the issuance of non standard unqualified opinions. In addition, I test the association between the length of audit committee establishment and audit quality. Empirical results indicate that the establishment of audit committees is not positively associated with audit quality and the length of audit committee establishment is negatively associated with audit quality. The results imply that audit opinions may be compromised between auditors and audit committee.
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LO, KUO-HSUAN, i 羅國軒. "Audit Committee and Key Audit Matters". Thesis, 2018. http://ndltd.ncl.edu.tw/handle/34xtcw.
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碩士輔仁大學
會計學系碩士班
106
After the global financial crisis, the traditional audit report can’t satisfy investors’ and related parties’ need for more information. Under this trend, the new audit report was issued. The Financial Supervisory Commission has stipulated that the listed companies and financial industries should adopt the auditing standard No. 57 since the fiscal year 2016. This standard requires the regulated firms to disclose key audit matters in new audit report, which is the communicating result between auditor and governance unit. This requirement enhances the transparency of new audit report. The audit committee is an important governance unit and possibly influences disclosing key audit matters. Using Taiwan listed companies disclosing key audit matters from 2016 to 2017 as the sample, this study aims to explore the relationship between setting up audit committee and the extent of disclosing key audit matters of companies. The empirical results show that the extent of disclosing key audit matters of companies with audit committee is higher than that of companies without audit committee. This study conducts a number of sensitivity tests and gain similar results.
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Tsai, Chiayu, i 蔡佳育. "Determinants Of Voluntary Audit Committee Formation And Quailty Of Audit Committee". Thesis, 2012. http://ndltd.ncl.edu.tw/handle/62643709891506956836.
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碩士國立臺北大學
會計學系
100
In spite that the audit committee can enhance the value of the company, audit committee formation is not mandatory. Accordingly, this study is to investigate which determinants may encourage companies to voluntarily have the audit committee, and further explores the determinants of the quality of the audit committee. The determinants of domestic listed companies are divided into three main categories, including the factor of the company characteristics, corporate governance and the ownership structure. To explore the determinants of voluntary audit committee formation, I exclude the one which do not have independent directors and which has issued American Depositary Receipts. We analyze it using the logit regression. To explore the determinants of quality of audit committee, we use the score of six indicators, including the size of the audit committee, members having accounting or financial expertise, conveners having accounting or financial expertise, frequency of meetings, members’ attendance and number of members serving the independent directors. We analyze it using the order probit regression. The results implicate that voluntary formation of audit committee is associated with higher independence of the board of directors, greater size of the board, separation of the chairman of the directors and the managers, lower ownership of the directors and the supervisors, higher ownership of the institutional investors, issuance of securities overseas, as well as the electronic industry and non-government-owned companies. In addition, I separate the six indicators and find that the size of the audit committee is the most obvious measure of the quality of audit committee, and which the convener having accounting or financial expertise is the least one.
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Liu, Cheng-Yi, i 劉正義. "The Impact of Adoption Audit Committee and Audit Committee Quality on Earnings Management". Thesis, 2013. http://ndltd.ncl.edu.tw/handle/30211640626284032196.
Pełny tekst źródłaStreszczenie:
博士國立臺北大學
會計學系
101
Abstract This study, controlled self-selection bias, examines the impact of audit committee on earnings management in Taiwan. Based on supervisors and audit committee were empowered duties to monitoring financial reporting process by regulator in Taiwan. We argue that independent and expert audit committee member demand a high level of audit quality than supervisors because of avoiding reputation losses that result from lawsuit sanction. Therefore, we predict the earnings management of adoption audit committee firms is less than that adoption supervisors firms. We explore an endogenous binary treatment model and the other regression model to control firm characteristics. In addition, we examine the impact of audit committee quality, estimated by the characteristic of the audit committee corresponding with regulator, on earnings management. We find the ability of adoption audit committee firms to constraining upward earnings report is superior to that adoption supervisors firms; the audit committee quality constrain significantly earnings management. The result indicates that self-selection bias surely exist in part of sample.
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Fang, Hsin-Ning, i 方馨甯. "Audit Committee and Earnings Quality". Thesis, 2015. http://ndltd.ncl.edu.tw/handle/15806541453991269279.
Pełny tekst źródłaStreszczenie:
碩士銘傳大學
會計學系碩士班
103
In this study, we use non-financial Taiwanese public firms from 2007 to 2013. This research investigates whether formation of an audit committees and the quality of an audit committees are associated with improved earnings quality. The quality indicators contains the size of the audit committee, members of the accounting or financial expertise, chairman having accounting or financial expertise, frequency of meetings, members’ attendance and number of members serving the independent directors. The empirical results show that there is no relationship between formation of an audit committees and earnings quality. However, for those companies with established audit committees, our results indicate that firms with more accounting experts in audit committees have the effects on constraining accrual earnings management and improving earnings quality. In addition, larger audit committees may cause the operation inefficient and couldn’t achieve the effect of supervision of financial reporting. Because each member have their own thought, so the issues can’t be fully discussed and communication.
21
LAN, HSIEH HSIU, i 謝秀蘭. "Audit Committee and Earnings Management". Thesis, 2007. http://ndltd.ncl.edu.tw/handle/95342093985887369631.
Pełny tekst źródła
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Chiang, ChienTe, i 江建德. "Audit committee and accrual mispricing". Thesis, 2012. http://ndltd.ncl.edu.tw/handle/39287192435903418238.
Pełny tekst źródłaStreszczenie:
碩士國立中正大學
會計與資訊科技研究所
100
Prior research uses ERC (Earnings Response Coefficient) approach to analyze the effectiveness that firms set up audit committee. But, ERC can't appropriately measure the information quality of earnings when the market is not efficient. In this paper, we investigate the role that audit committee plays in valuation of accruals and cash flow. We predict firms with audit committee can help reduce accrual mispricing problem. We employ two stage rational expectations procedure developed by Mishkin (1983). The result provides evidence that firms with audit committee can mitigate the mispricing and vice versa. The result represents firms with audit committee can provide accurate information to investors. According the result, investors can better understand the accounting information's persistence. Our research also tests the impacts of audit committee 's characteristics. First, the result reveals that audit committees with higher compensation per capita are associated with larger accrual mispricing. Second, our research is consistent with the findings by Vafeas (1999) and Ghost (2010). Audit committees will usually increase meetings frequency in response to firm's poor operating performance, but it can't help investors mitigate accrual mispricing. Our result find that firms with more frequent audit committee meeting are associated with larger accrual mispricing.
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Tung, Kuan-Tung, i 董冠彤. "Audit committee quality and key audit matters in extended audit report". Thesis, 2018. http://ndltd.ncl.edu.tw/handle/kzzu96.
Pełny tekst źródłaStreszczenie:
碩士淡江大學
會計學系碩士班
106
The investors have lost their confidences in financial statements resulted from several financial statement fraud since the global financial crisis in 2008, they started to expecting higher quality of audit reports to provide more relevant and transparent audit information. The government of United Kingdom proposed the extended audit report referred to the International Auditing Standards ISA700 in 2012, which the biggest change is the Key Audit Matters (KAM), this extended audit report had implemented in Taiwan since 2016. The implementation of extended audit report must be coordinated with good corporate governance. In Taiwan, the relevant regulations of audit committee system had introduced in order to strengthen supervision over corporate governance and improve the quality of earnings disclosure. Therefore, we used the size and the frequency of audit committee, the actual attendance rate of audit committee members, the accounting expertise of audit committee members, and the term of the members in audit committee as proxy variables of the quality of the audit committee, and discuss the relevance of key audit matters and the quality of the audit committee. This paper examines the relationship between the KAM and the quality of the audit committee and uses the sample of companies listed on Taiwan Stock Exchange and the Over-the-counter market in 2016. The empirical results show that higher actual attendance rate and accounting expertise of audit committee members are significantly positively related to the numbers of the key audit matters disclosed. In addition, the longer tenure of audit committee member is significantly positively related to the industrial key audit matters.
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YANG, KUN-LIN, i 楊昆霖. "Fair Value Accounting Information、Audit Committee and Audit fees". Thesis, 2016. http://ndltd.ncl.edu.tw/handle/vq6p26.
Pełny tekst źródłaStreszczenie:
碩士長榮大學
經營管理研究所
104
This study examines the association between audit fees and proportions of fair-valued assets, using publicly traded Taiwanese company data from 2007-2014. This study finds audit fees are negatively associated with the proportions of fair-valued assets. The negative association between the proportions of fair-value asset and audit fees that are fair-valued assets using Level 2 inputs is greater than its negative association with the proportions of fair-valued assets that is fair-valued using Level 1 and Level 3. In addition, audit fees are positively associated with the proportions of non-fair-valued assets. This study also finds that auditors charge less for firm with audit committee. Overall, the results suggest that greater use of fair-value measurement for non-financial assets and financial assets will decrease audit fees.
25
You, Ling-Yu, i 游姈妤. "The Effect of Audit Committee Characteristics on Audit Fees". Thesis, 2015. http://ndltd.ncl.edu.tw/handle/28982392086307003400.
Pełny tekst źródłaStreszczenie:
碩士銘傳大學
會計學系碩士班
103
The Securities Exchange Law introduces independent directors and audit committee system in 2006 to strengthen corporate governance. The Securities and Futures Bureau of Taiwan further expand the scope of mandatory audit committee in 2013 and require all public companies should set audit committee no later than 2017. Since nearly 90% firms disclose audit fees due to convergence to IFRS and the regulatory bodies mandate audit committee in stages, therefore this study can examine the impact of audit committee characteristics(consisting of audit committee setting, audit committee size, audit committee meeting frequency, audit committee financial expertise, audit committee gender diversity ) on audit fees. This study selects all listed companies with complete audit and non-audit fees data during 2009-2013, including 7,983 observations. The empirical results find that audit committee setting, audit committee size, audit committee meeting frequency, audit committee with financial experts and female members all increase audit fees.
26
Chen, Yu-Jyun, i 陳育均. "The Relationship between Audit Committee Characteristics and Audit Fees". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/yctbs7.
Pełny tekst źródłaStreszczenie:
碩士僑光科技大學
財務金融研究所
105
Using the ordinary least square regression, we examine the relation between audit committee characteristics and audit fees in firms listed in the Taiwan Stock Exchange and Over-The-Counter for the period 2006-2014. We use six audit committee characteristic measures: audit committee size, the percentage of financial expert members, and audit committee independence, frequency of meetings and whether the convener has expertise in accounting or finance and Female membership ratio. The empirical results show that the size of the audit committee, the percentage of members of the financial expert and the independence of the audit committee, the number of meetings and the expertise of the conference staff in terms of accounting or finance and the ratio of female members positively related to the audit fees. In addition, the empirical test results found that the percentage of accounting members audit committee and the expertise of the conference staff in terms of accounting are positively related to the audit fees.
27
Chen, Si, i 陳思. "The Association between Audit Committee Network and Audit Quality". Thesis, 2019. http://ndltd.ncl.edu.tw/handle/tw8856.
Pełny tekst źródłaStreszczenie:
碩士國立政治大學
會計學系
107
The primary objective of this thesis is to investigate whether and how audit committee network, as measured by its centrality, affects audit quality. Using a sample of listed firms in China, I summary my findings as follows: First, I find that firms with better-connected audit committee (i.e, higher centrality) have lower discretionary accruals than those with worse-connected audit committee. Second, I find that firms with better-connected committee have less incentive to employ Big4 auditors than those with worse-connected committee. Finally, firms with better-connected committee have lower audit fee relative to those with worse-connected committee. Taken together, I find that audit committee has a positive effect on audit quality.
28
Huang, Bing-Hao, i 黃秉浩. "The Research of Relationships among, Audit Committee, Internal Audit, and Audit Quality". Thesis, 2012. http://ndltd.ncl.edu.tw/handle/01494654768335351869.
Pełny tekst źródłaStreszczenie:
碩士淡江大學
會計學系碩士班
100
Because of business type management and ownership separation, the effective supervision of managers and reduce agency problems in corporate governance are becoming increasingly important. Company strengthens corporate governance by hire independent directors and establishes audit committee. Audit committee is a bridge between of company and auditors, and better to maintain the independence of auditors, and thus enhance the audit quality. Internal audit is another monitoring function of corporate governance, and effective internal audit usually help auditors to improve the efficiency of the external audit work. This study investigates the relationships among, audit committee, internal audit, and audit quality. The empirical results shows that audit quality is positively associated with the percentage of financial expertise on audit committee, and it is positively associated with the better quality of internal audit.
29
Ruei-JhihSyu i 許瑞芝. "The Association between Audit Committee IndependentDirector Compensation and Audit/Non-Audit Fees". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/72vr34.
Pełny tekst źródła
30
Tuan, Li-An, i 段立安. "The Effect of Audit Committee Voluntary Formation on Audit Committee Quality, Corporation Performance, and Firm Value". Thesis, 2019. http://ndltd.ncl.edu.tw/handle/h7wqp4.
Pełny tekst źródłaStreszczenie:
碩士國立政治大學
會計學系
107
Since Securites and Exchange Act involed the formation of audit committee in 2006, the Financial Supervisory Commission in Taiwan have expanded the scope of regulations on establishments of audit committee. Based on the enlarging scope of regulations, extended to all listed companies by 2022, and the increasing attentions on audit committee, this study attempts to examine whether differences exist on the quality of audit committees who established it voluntarily or not, and connects the different formation of audit committee to their impacts on firm value and corporation performance. Using listed companies in Taiwan as the sample from 2010 to 2017, this research is aimed at finding relationship among the different formations of audit committee and their influences. The empirical results indicate that the audit committee of companies voluntarily adopting it have higher qualities. Besides, these audit committees have significantly positive effects on their firm value. However, the audit committee of companies unvoluntarily formed it haves significantly negative effects. Otherwise, the results show that the formation of audit committee has significantly negative effect on corporation performance. By dividing the formations of audit committees, the results indicate that the voluntary formation may reduce its negative effects and the unvoluntary foarmation may aggravate the effects.
31
Lin, Chi-Hau, i 林志豪. "Audit Committee and Financial Reporting Quality". Thesis, 2013. http://ndltd.ncl.edu.tw/handle/30865113674217508003.
Pełny tekst źródłaStreszczenie:
碩士輔仁大學
金融與國際企業學系金融碩士班
101
As corporate governance internationally gradually attention, our government also response to the trend to strengthen corporate governance mechanism, introduced independent directors and audit committee system. Financial Supervisory Commission announced in this year, will be forced to adopt audit committee, so this study is to investigate the effect of the current voluntary adoption of the Audit Committee. This is might provide policy-makers of the current status and possible future development of audit committee. In this study, we used exchange listed companies from 2007 to 2012 except financial industry. There are on three topics in this study. First, we want to know who the companies adopt audit committee. Second, whether the investors response to investors on the adoption of audit committee. Third, after the adoption of audit committee, does the audit committee have real effect on reporting quality? In the first topic, due to the majority ownership concentration in Taiwan market and the presence of controlling shareholders, we used the controlling shareholder of the incentive effects and encroachment (La Porta et al., 2002) to understand the shareholder structure of the companies who adopt audit committee. The empirical results support the alternative hypothesis, and it is mean that the companies who adopt audit committee have lower cash flow rights and larger deviation between cash flow rights and voting right. We could suggest the company will improve corporate governance mechanisms by an audit committee. The paper also found that investors held in a positive attitude for the event of adoption of audit committee, and the cumulative abnormal returns increase as the, the proportion of the audit committee with financial or accounting expertise. There also have a positive impact on audit committee financial statements, some result showed that an audit committee be able to reduce the magnitude of earnings management.
32
Tsai, Yun-Jung, i 蔡昀蓉. "Audit Committee Characteristics and earnings management". Thesis, 2009. http://ndltd.ncl.edu.tw/handle/87556933683563260399.
Pełny tekst źródłaStreszczenie:
碩士中國文化大學
會計研究所
97
Establishing functional committees such as audit committee…etc is an important development orientation of corporate governance in the world. The audit committee system is also a future trend and universal goal in our country. Some of the provisions of Securities and Exchange law took effect since January 1, 2007, focusing on the in-troduction of independent directors and audit committee, want to replace supervisors with sound audit committee. An audit committee typically charged with oversight of financial reporting and audit process, Securities and Exchange law article 14-4 requires an audit committee is composed of all independent directors, at least three members and one of which a accounting and financial expert. This study examines whether audit committee expertise and independence are related to earnings management by the firm. We examine 51 publicly-held audit committee samples in 2008, based on market observation post system and Taiwan Economic Journal (TEJ) database, and anticipate getting information relating to discretionary accruals, audit committee characteristics, and control variable. We find that earnings management (discretionary accruals) is negatively associated with the percentage of financial and accounting expertise on audit committee, and with independence (the percentage of independent directors on audit committee). But CPA is significantly not concerned with earnings management.
33
Huang, Pei-hua, i 黃珮華. "Audit Committee Formation and Earnings Management". Thesis, 2012. http://ndltd.ncl.edu.tw/handle/73802135284325982342.
Pełny tekst źródłaStreszczenie:
碩士國立高雄第一科技大學
財務管理研究所
100
Due to the occurrence several high-profile accounting scandals , Taiwan’s government focuses on the governance mechanism of a company and set up an audit committee by strengthen the company’s governance mechanism. This study aims to examine the impact of accrual-based management and real earnings management after setting audit committee. The empirical results indicate that no matter using accrual-based earnings management or real earnings management that setting audit committee can constrain the behavior of earnings management and the board of directors mechanism, too. In addition, this paper found that company setting audit committee tend to use real earnings management engaged in manipulating earnings.
34
Wang, Wei-Yin, i 王維吟. "Executive Compensation and Audit Committee Quality". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/23671187751497462061.
Pełny tekst źródłaStreszczenie:
碩士元智大學
財務金融暨會計碩士班(財務金融學程)
105
The paper provides evidence that audit committees play an importance role in the company because they are major factor in monitoring firms’ financial reports so as to reduce agency problem. I investigate whether audit committee quality (corporate governance) is associated with executives’ compensation (incentives). I examine the quality of audit committee and incentives are as substitutes or complementary by running simultaneous regressions to see their bidirectional relationship. Besides, I added factors of firms’ accounting complexity and business risk to see whether the result may change. Overall, my findings provide insight that audit committee quality and incentives are as substitutes. However, after considering firms’ accounting complexity and business risk, the effect of substitution would be weakened.
35
WU, YUEH-CHUN, i 吳月春. "Audit Committee and Derivatives Usage Decision". Thesis, 2019. http://ndltd.ncl.edu.tw/handle/as7pck.
Pełny tekst źródłaStreszczenie:
碩士國立雲林科技大學
會計系
107
The establishment of Audit Committee can supervise a company’s accounting and financial processes to ensure the reliability of financial reports. Moreover, audit committee can play an important role in corporate governance, which in turn, improves the efficiency and effectiveness of internal control system. Financial derivatives are characterized by risk averse, higher leverage and lower transaction costs. Consequently, these financial instruments are widely used by companies to control risks and/or create returns. This study examines the relationship between audit committee and derivatives usage decisions based on Taiwanese listed firms from 2009 to 2016. This study divides firms’ derivatives usage into hedging and non-hedging (trading) purposes and further examines whether audit committee can play a governance role in monitoring firms’ derivatives usage decisions to protect the interests of company and minority shareholders. The empirical result reveals that the audit committee is positively associated with hedging financial derivative usage, yet, is negatively associated with non-hedging (trading) derivatives usage. It suggests that audit committee can play an important role in corporate governance, then influences firms’ hedging and non-hedging (trading) derivatives usage decisions. This study conducts several sensitivity tests and shows the empirical results are robust to these diagnostic checks.
36
Tseng, Chien-Hao, i 曾乾豪. "The Association between Audit Committee Characteristics and Audit Partners Characteristics". Thesis, 2014. http://ndltd.ncl.edu.tw/handle/87892173069460498363.
Pełny tekst źródłaStreszczenie:
博士國立臺北大學
會計學系
102
This study examines the association between audit committee characteristics and audit partners characteristics. The auditors’ industry specialization, number of clients, tenure, and experience are used as measures of audit partners’ characteristics. This study finds that audit committee formation is associated with having the lead and concurring partners who are industry specialization and the number of clients audited by the lead partner. The results implicate that firms forming an audit committee prefer to have lead and concurring partners who are industry specialization and a lead partner who has audited a greater number of clients. In addition, audit committee formation is associated with the tenure and experience of the concurring partner. The results implicate that the firms forming an audit committee will choose concurring partners with longer tenure and more experience. Overall, firms that are forming an audit committee are more likely to choose partners with better audit quality. Furthermore, this study finds that the characteristics of an audit committee are associated with the number of clients audited by the lead partner. The results implicate that an audit committee that values higher characteristics would tend include a lead partner with a high number of clients. In addition, the characteristics of an audit committee are associated with the tenure of the concurring partner and the experience of the lead partner. The results implicate that an audit committee that values higher characteristics would tend to include a concurring partner with longer tenure and a more experienced lead partner. Overall, an audit committee that values higher characteristics is also more likely to have a partner with higher audit quality.
37
HUANG, SHENG-YEN, i 黃聖硯. "The Relationship between Audit Committee Expertise and Audit Report Delay". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/01604316071846675554.
Pełny tekst źródłaStreszczenie:
碩士逢甲大學
會計學系
105
After Sarbanes-Oxley Act (SOX), the issues of the audit committee has been discussed. To avoid management of fraud, earnings management or other factors delay audit report date, the companies that have great corporate governance mechanisms tend to set up an audit committee to monitor accounting, financial statements processes and financial planning. Furthermore, audit committee also plays an important role on communication between auditor and management. So if the members of the audit committee have accounting related knowledge, it should be able to communicate well with the auditors, improve the efficiency of auditors, and make the auditors early issue the audit reports. Therefore, this study will explore whether the audit committee and its expertise can reduce the audit report delay. The results indicate that audit committee variable is negative significantly associated with audit report delay. In addition, when the members of audit committee are accounting financial expert or nonaccounting financial expert, it can more effective to reduce the audit report delay. However, compared to the audit committee with accounting financial expertise and nonaccounting financial expertise, the significance of the audit committee with accounting financial expertise is not superior to nonaccounting financial expertise.
38
Yi-ChengTsai i 蔡煜程. "Audit Committee Characteristics and Fee Discounting for Initial Audit Engagements". Thesis, 2018. http://ndltd.ncl.edu.tw/handle/9372m3.
Pełny tekst źródłaStreszczenie:
碩士國立成功大學
會計學系
106
This paper examines whether fee discounting for initial audit engagements still exists in Taiwan and how characteristics of audit committees smooth down effects of low-balling. As a result of high passing rate in obtaining accountant licenses and the policy of cancelling the audit fee floor, it has been popular that accountants tend to adopt strategies of low-balling for establishing the long-term relationship with clients in Taiwan for a long time. However, they may neglect required works or reach a compromise with the management if they don’t charge sufficient fees. Therefore, it can lead to issues of impairing independences and audit quality. On the other hand, audit committees play key roles in maintaining the corporate governance. Their works involve the selection and compensation of accountants as well. If audit committees are more effective, they should be devoted to achieving goals of overseeing quality of financial reporting or internal control more likely. As a result, they may decide a higher level of audit fees because they also rely on external auditors’ assistance. The sample comprises all publicly-traded companies ranging between 2003 and 2016 in Taiwan Stock Exchange. Running regressions with different types of changes, we find that fee discounting for initial audit engagements still exists in Taiwan so far. Consistent with the hypothesis, we also prove the relations that effects of fee discounting will be smoothed down if the ratio of expertise in finance or accounting is high in audit committees. However, this finding is certified only in the group of high audit fees. As expected, we find evidence in the association between characteristics of audit committees and effects of fee discounting.
39
巫婧. "Who is really in charge? Relative Power of Audit Committee versus CFO and Female Ratio in Audit Committee and Audit Fes". Thesis, 2016. http://ndltd.ncl.edu.tw/handle/3a4x87.
Pełny tekst źródła
40
Ferreira, Ilse. "The role of internal auditors in the professional development of audit committee members". Diss., 2007. http://hdl.handle.net/10500/632.
Pełny tekst źródłaStreszczenie:
This study attempted to discover the role of internal auditors in the professional
development of audit committee members, leading to enhanced performance,
through the provision of induction programmes and professional development
opportunities to committee members, with due regard for the principles of good
governance and international best practices. A secondary aim of this study was
to propose methods to improve the relationship between the internal audit
activity and audit committees in providing additional support to its members.
The audit committee's needs and requirements were assessed by using the
audit committee charter as the basis in identifying the responsibilities of the
committee and the professional development needs of committee members in
an organisation. It was found that a framework for the induction and
professional development of audit committee members would be most useful to
internal auditors to assist audit committees to meet their requirements and
improve their performance.Auditing
M. Com.
41
Al-Lehaidan, Ibrahim. "Audit committee effectiveness: Australia and Saudi Arabia". Thesis, 2006. https://vuir.vu.edu.au/1438/.
Pełny tekst źródłaStreszczenie:
The mere presence of the audit committee does not necessarily translate into an effective monitoring body. As a result, the search for mechanisms to enhance corporate governance and increase the quality of financial reports has mostly focused on the structure of audit committees. This thesis empirically investigates whether there is an association between audit committee effectiveness (ACE) and the selection of a high quality auditor for both Australian and Saudi listed companies using their local guidelines to enhance ACE as benchmarks. In addition, the association between ACE and non-audit services (NAS) purchases is examined only for Australian listed company as providing such services by the incumbent auditors is not allowed for Saudi listed companies. Moreover, this thesis also empirically examine the relationships between six audit committee characteristics, namely, independence, size, activity, charter, expertise and literacy and the selection of a high quality auditor for both Australian and Saudi listed companies. Also the relationships between the six audit committee characteristics and NAS purchases are empirically tested only for Australian listed companies. While there was a positive (negative) association between ACE and the selection of a specialist auditor (the magnitude of NAS purchases) for the Australian Stock Exchange (ASX) listed companies, there was no association between ACE and the selection of a specialist auditor for the Saudi Stock Market listed companies. Because both countries have very similar recommendations regarding enhancing audit committee effectiveness, the findings of this thesis indicate that there are other factors such as different audit committee framework, different market development and cultural factors that might affect ACE. In addition, the findings indicate that audit committee independence is the most important determinant of both audit quality and NAS purchases for the ASX listed companies. Because complying with audit committee recommendations is costly especially for small companies, which have limited resources, audit committee independence should have the priority when locating the limited resources.
42
Fan, Yu-Hsin, i 范宇杏. "The Association between Audit Committee (or Independent Supervisor) and Audit (Non-audit) Fee Ratio". Thesis, 2009. http://ndltd.ncl.edu.tw/handle/uj9qcz.
Pełny tekst źródłaStreszczenie:
碩士銘傳大學
管理研究所
97
In recent years, as the demand for non-audit services from auditors increases, the proportion of revenue from other than audit services has increased tremendously. As a result, regulators and investors concern about the increased percentage of non-audit fees relative to audit fees and that reduces auditor independence. More than ever, spurred by Enron’s collapse and financial mis-statements by several large corporations, the regulators have an increased interest in the impact of non-audit fees on the economic bonding between auditors and their clients. On the other hand, the audit committee or independent supervisors plays one of the most important roles in strengthening corporate governance. Therefore, this research examines the relationship between audit (or non-audit) fee ratio and audit committee (or independent supervisor). This research uses panel data regression model to investigate 34 listed firms of P-Shares Taiwan Electronics Tech ETF. The research period covers from 2006 to 2007. The result of the Hausman test is applied to determine the choice of fixed effect model or random effect model as the one suitable for the research. Finally, the research finds that there is a negative association between non-audit fee ratio and audit committee (or independent supervisor). Audit committee (or independent supervisor) also shows a positive association with audit fee ratio. The empirical results are consistent with expectations of the research.
43
Chen, Wei-Jhong, i 陳椲中. "The Relationship among Audit Fees, Audit Committee Characteristics and Corporate Governance". Thesis, 2014. http://ndltd.ncl.edu.tw/handle/8jdfdu.
Pełny tekst źródłaStreszczenie:
碩士國立高雄應用科技大學
會計系
102
The purpose of this study is to investigate whether corporate governance mechanism, Audit Committee and Audit Committee’s activism have a positive influence on audit fees. The empirical results show that the firms with hinge overall corporate governance index score (or without Audit Committee) will pay lower audit fee than the firms with low overall corporate governance index score (or with Audit committee). Besides, the characteristics of Audit Committee (such as independence, number of member, professionalism, and activism) are positively associated with audit fees charged by auditors, which implies that in order to obtain a better quality of financial reporting, Audit Committee is more likely to appoint auditors with higher audit quality and pay higher audit fees.
44
Su, Guan-Jie, i 蘇冠杰. "The Association between Audit Committee Financial Experts and Audit Report Lag". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/732f2f.
Pełny tekst źródłaStreszczenie:
碩士國立臺灣大學
會計學研究所
105
This study examines the association between firms with audit committee financial experts and audit report timeliness. Using a sample of Taiwanese listed companies with an audit committee from 2007 to 2015, I find that audit report lag is negatively associated with the percentage of financial experts in an audit committee. I also find a negative relationship between audit committee chair’s financial expertise and audit report lag. Further analyses show that firms with audit committee financial experts also lead to a shorter financial report lag, indicating an improvement in the timeliness of financial reporting. Moreover, I investigate whether the main results are driven by the amendment of Article 36 of Securities Exchange Act which intends to accelerate the deadline for listed companies to submit financial reports, and my results find that the effect of audit committee financial expertise on audit report lag is mitigated by the amendment of Securities Exchange Act.
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Tsao, Kang-Chih, i 曹剛誌. "Audit Committee Characteristics and Real Earnings Management". Thesis, 2014. http://ndltd.ncl.edu.tw/handle/22nuk7.
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碩士國立高雄應用科技大學
會計系
102
Due to the frequent domestic and foreign enterprise scandals, Legislature amended the Securities and Exchange Act in 2006 and formulated Independent Director and Audit Committee System to strengthen the structure of enterprise management and to and the duties of the board of directors, to promote the quality of financial report, passing of reduce the occurrence of financial reporting fraud. After the Sarbanes-Oxley Act researchers found company's management transfered the previous accruals earnings management to a more imperceptible real earnings management. In the study, I chose the listed company between years 2007 and 2013 as the research samples, While referring to the research structure of Roychowdhury (2006), using the abnormal operating cash flow, abnormal production costs and abnormal discretionary expenses to proxy the real earning management. And discussion of the relevance between audit committee establishment and real earning management and are the audit committee characteristies have the inhibitory effect to the enterprise execute real earning management or not. The empirical results show, companies that established an audit committee will not execute the real earning management of abnormal production costs and abnormal discretionary expenses, but the abnormal operating cash flow does not have significantly effect. The more independent of the audit committee, the less a company will manipulate the operating cash flow; the more professional of the audit committee, the less a company will manipulate the production costs. And the audit committee members that serve a number of companies would not manipulate production costs, but there are more real earnings management in other respects, which is consistent with research thesis, more concurrently positions lower the supervision function. The study will help the stakeholders to judge a company’s real earning management by the establishment and characteristics of audit committee.
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Fei-LiangChien i 簡妃良. "Audit Committee Scholar Members and Accrual Quality". Thesis, 2015. http://ndltd.ncl.edu.tw/handle/2rs22x.
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博士國立成功大學
會計學系
103
After a number of major accounting scandals, audit committees are now expected to be the major corporate governance mechanism to ensure the quality of financial reporting. In this study, I examine whether scholars with high educational attainment, ethics, and reputation are well-suited to serve on audit committees to enhance oversight of management and thus improve financial reporting since the composition of audit committee attributes its effectiveness. Since different fields of study affect individuals in different way, I conjecture that that the educational specializations of scholars may influence their abilities as audit committee directors to oversee management. In addition, I propose that the reputations of the universities that scholars who are members of audit committees work for impact their monitoring behavior. I find that firms with scholars serving as members of their audit committees have better accrual quality than those without such individuals on their committees. Besides, scholars with business related and medical specializations seem to demand better accrual quality compared to those with other educational specializations. Furthermore, audit committee scholar members from higher ranking schools are more effective in limiting earnings management than those from lower ranking institutions.
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Kao, Yun-Ju, i 高韻如. "Audit committee and quality of accounting information". Thesis, 2009. http://ndltd.ncl.edu.tw/handle/58973457164582317299.
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碩士中國文化大學
會計研究所
97
In this study, based on global corporate governance are required to promote the trend, and Taiwan, the new amendments to the Securities Exchange Act of reform mainly in the introduction of independent directors and the establishment of audit committee system, and the Audit Committee based on audited financial statements mainly to provide more complete views of the Board of Directors therefore set up the audit committee can strengthen the independence of directors and supervisors of the Board of Directors and supporting professionals to enhance viability of the system. Thus, the inference of the characteristics of the Audit Committee to enhance the quality of accounting information. In this study, the quality of accounting information is divided into conservative, stability, timeliness and continuity of the four dimensions in order to have set up in 2008 the Audit Committee or the Audit Committee of Listed prospective cabinet, emerging targets for the study. The results showed that the independence of the Audit Committee and conservative accounting information quality, and a smooth and positive relationship between timeliness; and professionalism of the Audit Committee and conservative accounting information quality, and a smooth and continuous positive relationship. The study results show that independent directors and professionals of the Audit Committee, you can improve the corporate governance environment, and effective assistance and supervision of the company's financial reporting process, in order to enhance the quality of accounting information.
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Yu-ShengChiang i 江鈺聲. "Audit Committee Forensic Expertise and Auditors Turnovers". Thesis, 2015. http://ndltd.ncl.edu.tw/handle/08578083821519957848.
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碩士國立成功大學
會計學系
103
This paper examines whether the audit committee of that issuer is comprised of member who is a forensic accounting expert are associated with subsequent auditor change after financial restatements. Recently, forensic accounting expert for fair presentation of a company’s financial reporting and assessing the impact of the litigation are thinking highly. If forensic accounting expert is comprised in the audit committee, it should be able to be more effective attempts to prevent fraud and ensure the quality of financial reporting. The Sample consists of 6,971 observations that listed on Compustat. Using a large sample of restatements that include auditor change and non-auditor change we find that, consistent with our hypothesis, the likelihood of existence of forensic accounting expert decrease auditors change after firms announce restatements. As expected, we also find that the negative association between Financial Expert and auditors change after firms announce restatements. Finally, we find that forensic accounting expert is more effective to decrease auditor changes than financial expert. The last result supports the idea that forensic accounting expert have a positive view of increasing the quality of financial reporting.
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Lin, Cheng-Kun, i 林正坤. "Economic Determinants for Voluntary Audit Committee Appointments". Thesis, 2005. http://ndltd.ncl.edu.tw/handle/77700477705464567006.
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碩士中原大學
會計研究所
93
This study attempts to examine the incentives of the managers in the publicly listed companies which implemented the Audit Committee appointment system voluntarily in Taiwan. The Business Law in Taiwan adopts double-track system including the board of directors and supervisors. Some professors and specialists expressed their concern over the overlapping functions of having the Audit Committee and the supervisory system concurrently. Although the Audit Committee appointment system has been implemented in other countries for many years, yet it has just been initiated in Taiwan recently. Since the external environment such as capital market and business operations are different between Taiwan and well-developed countries, the effectiveness and results of the Audit Committee in Taiwan is expected to be different from those of other countries. This work employs the relevant data on the Audit Committee from each company’s annual report for 450 publicly listed companies. This study uses Logit regression model to examine the determinants for voluntary Audit Committee of publicly listed companies which having independent directors. The factors affecting a company to appoint an Audit Committee include debt ratio, growth opportunities, the ratio of independent directors to total directors, management ownership, firm size, the Chairman of the board pluralizing CEO, capital raising, and the initial public offerings. The empirical results indicate that the larger the size and the more potential growth of a company is, the more possible the company having a voluntary Audit Committee is.
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Wang, Ko-Ching, i 王克京. "Corporate Governace and the Audit Committee Syatem". Thesis, 2009. http://ndltd.ncl.edu.tw/handle/36537649341878372095.
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碩士雲林科技大學
會計系研究所
97
The internal organization of incorporation in our country adopts double track system with stockholders’ meeting, board of directors and supervisors such three institutions. Since the supervisors cannot develop original supervision efficiency, we therefore follow systems of America and Japan to enhance company governance of listed companies. In 2006, the amendment to the Securities and Exchange Act was passed and new systems such as independent director and audit committee were formally introduced. There are total 34 companies successively establish audit committee pursuant to paragraph 4 of article 14 of Security and Exchange Act since promulgation of the Act. During that period, many scholars and businesses had proposed many opinions aiming at audit committee. Some people consider that independent director may not be more independent as comparing to supervisors and replacing supervisors with audit committee is not necessary to solve problems in previous supervisor system. However, certain people still believe that introduction of audit committee deserve public support regarding review of internal audit, internal control, major finance and related party transactions. The purpose of this article is to introduce and compare systems in America, Japan and our country, meanwhile making analysis and review of problems encountered at the beginning of implementing audit committee system and proposing recommendations. It is expected that amendment can be made properly in the future to gradually carry out the functions of audit committee.