The New Role of the Internal Auditor: Implications for Internal Auditor Objectivity

Brody, Richard G.; Lowe, D. Jordan

doi:10.1111/1099-1123.00311

Cited by 84 publications

(81 citation statements)

References 2 publications

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“…It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. (IIA, 1999) This definition is designed to embrace the expanding role of internal audit which in recent years has evolved from a narrow focus on control to include risk management and corporate governance (Walker et al, 2003;Brody and Lowe, 2000). We use the definition as a framework to develop hypotheses concerning the characteristics of companies that use internal audit.…”

Section: Theoretical Background and Hypothesis Developmentmentioning

confidence: 99%

The use of internal audit by Australian companies

Goodwin-Stewart

Kent

2006

Managerial Auditing Journal

169

205

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Purpose -The purpose of this study is to explore the voluntary use of internal audit by Australian publicly listed companies and to identify factors that lead listed companies to have an internal audit function. Design/methodology/approach -Drawing on the Institute of Internal Auditors' definition of internal auditing, the paper predicts that internal audit use is associated with factors related to risk management, strong internal controls and strong corporate governance. To test the predictions, the study combines data from a survey of listed companies with information from corporate annual reports. The paper also provides descriptive information on the use of internal audit. Findings -The results indicate that only one-third of the sample companies use internal audit. While size appears to be the dominant driver, there is also a strong association between internal audit and the level of commitment to risk management. However, the study finds only weak support for an association between the use of internal audit and strong corporate governance. Research limitations/implications -A limitation of our study is that some of the variables in the model may not be good proxies for the factors being measured. Refinement of the model and the variables used provides an opportunity for future research. Practical implications -The limited use of internal audit by Australian companies has important implications for sound corporate governance. Originality/value -This is the first study that identifies factors associated with the use of internal audit by Australian listed companies.

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Section: Theoretical Background and Hypothesis Developmentmentioning

confidence: 99%

The use of internal audit by Australian companies

Goodwin-Stewart

Kent

2006

Managerial Auditing Journal

169

205

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“…An internal audit position is seen by many as little more than a corporate training ground for managers (Cooper, Leung and Mathews, 1994;Goodwin and Yeo, 2001). Brody and Lowe (2000) found it likely that, as a result, internal auditors will become more involved with top management as consultants rather than as independent assessors.…”

Section: Positioningmentioning

confidence: 99%

The Influence of Internal Audit Function on Promoting Effective Corporate Governance by Using the Management Support in Commercial Iraqi Banks

A.Alazeez¹

2017

IJABS

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Good governance became a highly topical business issue at the beginning of the 21st century following a series of large corporate scandals and failures. This paper aims to set the conceptual framework for assessed the effects of internal audit function (IAF) on good governance in the public sector in Iraq. The objective of this paper to evaluate the internal audit function in promoting effective corporate governance among commercial banks in Iraq, While the specific objectives are to analyze the impact of work experience, the positioning, level of independence and the risk identification, measurement and prioritization approach by using management support adopted to internal audit function of commercial banks in Iraq. This paper will try to given that insights to develop the internal audit function in commercial organizations which is an important part of corporate governance reporting since it in a straight line affects the interests of all stakeholders such as customers, suppliers, employees, customers, creditors and government agencies as well highlighting to the need of change in outlook of the organizations team towards the internal audit function bearing in mind the importance of strong internal audit function for the growth of commercial banks which are valuable for the development of Iraq economy.

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“…According to the study of Brady and Lowe (2003), internal auditors tend to serve more in a position that is in the interest of employers.…”

Section: Literature Review the Role Of Internal Auditmentioning

confidence: 99%

The Role of Internal Audit as a Starting Point for the Discovery of Irregularities in the Financial Statements of Public Companies in Kosovo

Ismajli

Aliu²,

Sahiti³

et al. 2017

Eur. j. econ. bus. stud.

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The main purpose of this paper is to verify whether the internal audit affects the detection of anomalies and fraud in the financial statements of public companies in Kosovo. To achieve this purpose, we have prepared a questionnaire and distributed to public enterprises in the Republic of Kosovo. The questionnaire includes open and closed questions in the form of Likert scale established to asess proposition and oposition of the participants. Responses were analyzed through SPSS software, and hypotheses were tested by analyzing the correlation. Based on results we can conclude that the role of internal audit can serve as a starting point in finding fraud and errors in financial reports.

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The New Role of the Internal Auditor: Implications for Internal Auditor Objectivity

Cited by 84 publications

References 2 publications

The use of internal audit by Australian companies

The use of internal audit by Australian companies

The Influence of Internal Audit Function on Promoting Effective Corporate Governance by Using the Management Support in Commercial Iraqi Banks

The Role of Internal Audit as a Starting Point for the Discovery of Irregularities in the Financial Statements of Public Companies in Kosovo

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