2021
DOI: 10.1108/jaee-09-2019-0182
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Stakeholder perception of the determinants of audit committee effectiveness in a developing economy: evidence from the Libyan banking sector

Abstract: PurposeThis study distinctively explores the firm-level and national-level determinants of audit committee effectiveness (ACE) in the Libyan banking sector (LBS).Design/methodology/approachA mixed-methods approach has been employed to enhance the quality of the collected data and reduce the risk of bias. Five groups of actors in the Libyan banking sector were surveyed, including board members, AC members, executive managers, internal auditors and external auditors, further to interviewing a representative samp… Show more

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Cited by 6 publications
(5 citation statements)
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“…An independent AC executes a higher quality of monitoring, which results in improved financial reporting. Masli et al (2021) on the other hand, investigate the role of possible firm-level and national-level determinants on AC effectiveness and conclude that AC independence has no impact on AC effectiveness. Alzharani and Aljaaidi (2015) discovered that there is no association between AC independence and risk management.…”
Section: Audit Committee Independence and Corporate Riskmentioning
confidence: 99%
“…An independent AC executes a higher quality of monitoring, which results in improved financial reporting. Masli et al (2021) on the other hand, investigate the role of possible firm-level and national-level determinants on AC effectiveness and conclude that AC independence has no impact on AC effectiveness. Alzharani and Aljaaidi (2015) discovered that there is no association between AC independence and risk management.…”
Section: Audit Committee Independence and Corporate Riskmentioning
confidence: 99%
“…Empirical evidence suggests that independent audit committees tend to maintain the independence of the external audit, ensuring information objectivity and reliability (Vinten and Lee, 1993;Masli et al, 2022). In the same way, prior scholarly efforts (Al-Najjar, 2011; Salloum et al, 2014) indicate that the existence of NEDs in audit committees is likely to protect the interests of shareholders and reduce the likelihood of financial distress by ensuring high quality of financial statements.…”
Section: 34mentioning
confidence: 99%
“…Given the importance of banks in MENA economies, several CG pieces of legislation focused exclusively on banks. This contributed to the second wave of CG reforms in MENA economies (Gerged et al 2020a(Gerged et al , 2020bMasli et al 2021;Kolderstova 2010), which is primarily characterised by a focus on integrating banks' management with the region's cultural ethos. Along with these advances, regulators in the area have either undertaken steps to update their former CG codes, including the United Arab Emirates and Egypt, or reformed specific CG codes for banks, alternately, such as Tunisia and Kuwait.…”
Section: The Institutional Context Of the Studymentioning
confidence: 99%