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A synthesis of empirical internal audit effectiveness literature pointing to new research opportunities

A synthesis of empirical internal audit effectiveness literature pointing to new research... Purpose– The purpose of this paper is to provide a synopsis of what academic literature says about internal audit (IA) effectiveness ten years after Bailey et al. (2003) presented research opportunities in IA. A new set of research questions that may help to bring the best out of IA is proposed. Design/methodology/approach– Empirical studies based on internal auditors’ self-assessments (“inside-out”) and empirical studies based on other stakeholders’ perspectives (“outside-in”) are reviewed through an “effectiveness lens”. The “outside-in” perspective is regarded as particularly valuable. Findings– First, common themes in the empirical literature are identified. Second, the main threads into a model comprising macro and micro factors that influence IA effectiveness are synthesized. Third, promising future research paths that may enhance IA's value proposition were derived. Practical implications– The “outside-in” perspective indicates a disposition to stakeholders’ disappointment in IA: IA is either running a risk of marginalization (IIA, 2013; PWC, 2013) or has to embrace the challenge to emerge as a recognized and stronger profession. The suggested research agenda identifies empirical research threads that can help IA practitioners to make a difference for their organization, be recognized, respected and trusted and help the IA profession in its pursuit of creating a unique identity. This paper wishes to motivate researchers to explore innovative research strategies and probe new theories, as well as benefit from cross-fertilization with other research streams. Originality/value– This paper summarizes the state of research on IA effectiveness and proposes a guide for future IA research. It provides pointed questions that may further advance the understanding of what constitutes IA and how IA can enhance its value proposition. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Auditing Journal Emerald Publishing

A synthesis of empirical internal audit effectiveness literature pointing to new research opportunities

Managerial Auditing Journal , Volume 30 (1): 29 – Jan 5, 2015

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References (74)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0268-6902
DOI
10.1108/MAJ-08-2014-1072
Publisher site
See Article on Publisher Site

Abstract

Purpose– The purpose of this paper is to provide a synopsis of what academic literature says about internal audit (IA) effectiveness ten years after Bailey et al. (2003) presented research opportunities in IA. A new set of research questions that may help to bring the best out of IA is proposed. Design/methodology/approach– Empirical studies based on internal auditors’ self-assessments (“inside-out”) and empirical studies based on other stakeholders’ perspectives (“outside-in”) are reviewed through an “effectiveness lens”. The “outside-in” perspective is regarded as particularly valuable. Findings– First, common themes in the empirical literature are identified. Second, the main threads into a model comprising macro and micro factors that influence IA effectiveness are synthesized. Third, promising future research paths that may enhance IA's value proposition were derived. Practical implications– The “outside-in” perspective indicates a disposition to stakeholders’ disappointment in IA: IA is either running a risk of marginalization (IIA, 2013; PWC, 2013) or has to embrace the challenge to emerge as a recognized and stronger profession. The suggested research agenda identifies empirical research threads that can help IA practitioners to make a difference for their organization, be recognized, respected and trusted and help the IA profession in its pursuit of creating a unique identity. This paper wishes to motivate researchers to explore innovative research strategies and probe new theories, as well as benefit from cross-fertilization with other research streams. Originality/value– This paper summarizes the state of research on IA effectiveness and proposes a guide for future IA research. It provides pointed questions that may further advance the understanding of what constitutes IA and how IA can enhance its value proposition.

Journal

Managerial Auditing JournalEmerald Publishing

Published: Jan 5, 2015

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