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Audit committees and corporate governance in a developing country

Audit committees and corporate governance in a developing country Market regulators, commissions and accountancy bodies have recommended the establishment of audit committees as an important step in improving corporate governance. In 2002, the Kenya Capital Markets Authority required all listed companies to establish audit committees. This study examined: A questionnaire survey completed by 29 companies (60%) showed that audit committees in Kenya are more independent than audit committees of other developing countries of Africa. All the audit committees reported cordial relationships with the management, internal audit and the external auditors, and were perceived to have improved the quality of financial reporting. The findings have some implications on the Kenyan capital market as companies may now be able to attract more foreign investors. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Accounting, Auditing and Performance Evaluation Inderscience Publishers

Audit committees and corporate governance in a developing country

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd. All rights reserved
ISSN
1740-8008
eISSN
1740-8016
DOI
10.1504/IJAAPE.2011.042774
Publisher site
See Article on Publisher Site

Abstract

Market regulators, commissions and accountancy bodies have recommended the establishment of audit committees as an important step in improving corporate governance. In 2002, the Kenya Capital Markets Authority required all listed companies to establish audit committees. This study examined: A questionnaire survey completed by 29 companies (60%) showed that audit committees in Kenya are more independent than audit committees of other developing countries of Africa. All the audit committees reported cordial relationships with the management, internal audit and the external auditors, and were perceived to have improved the quality of financial reporting. The findings have some implications on the Kenyan capital market as companies may now be able to attract more foreign investors.

Journal

International Journal of Accounting, Auditing and Performance Evaluation – Inderscience Publishers

Published: Jan 1, 2011

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