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- Publisher
- Wiley
- Copyright
- Copyright © 2003 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1090-6738
- eISSN
- 1099-1123
- DOI
- 10.1046/j.1099-1123.2003.00074.x
- Publisher site
- See Article on Publisher Site
Abstract
This study examines the separate influence of independence and financial experience on audit committee relations with the internal audit function. Using data from Australia and New Zealand, the study focuses on audit committees and internal audit in both private and public sector entities. Data were collected by means of a questionnaire sent to chief internal auditors. The results suggest that independence and accounting experience have a complementary impact on audit committee relations with internal audit. Independence is more associated with issues of process while accounting experience is associated with the extent that the audit committee reviews the work of the internal audit function. There are also some differences based on country and sector. Overall, the findings have important implications for regulators in light of recent calls for audit committee members to have accounting expertise in addition to being independent.
Journal
International Journal of Auditing – Wiley
Published: Nov 1, 2003