Self-perception of the internal audit function within the corporate governance system - Empirical evidence for the European Union

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Self-perception of the internal audit function within the corporate governance system - Empirical evidence for the European Union. / Eulerich, Marc; Theis, Jochen Christopher; Velte, P. et al.
In: Problems and Perspectives in Management (PPM), Vol. 11, No. 2, 2013, p. 57-72.

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@article{e5e11e9e985348a7ac0cdf9ad85b8e5a,
title = "Self-perception of the internal audit function within the corporate governance system - Empirical evidence for the European Union",
abstract = "Internal audit (IA) is theoretically considered a key element of modern corporate governance. Surprisingly, the existing knowledge on IA and its relation to the internal corporate governance structure is miscellaneous and rare. Consequently, empirical findings on the internal audit function (IAF) within companies' corporate governance framework in the European Union (EU) are scarce. Due to this, the objective of the empirical analysis is to draw conclusions on the structural and process organization of the IAF within the overall corporate governance structure and the IAF's cooperation with the audit committee (AC). Based on data from 3,294 responses from the 2010 Common Body of Knowledge (CBOK) study on 26 EU-member states conducting structural equation modeling the authors find that IA is an important mechanism of corporate governance structures. IA creates {"}value added{"} for the company either within the meaning of revealing problems and grievances or in the sense of precautionary measures. It is a powerful element for management supervision in the one- and two-tier system.",
keywords = "Management studies, Audit committee, Corporate governance, Internal auditing, Risk management, Structural equation model",
author = "Marc Eulerich and Theis, {Jochen Christopher} and P. Velte and Markus Stiglbauer",
year = "2013",
language = "English",
volume = "11",
pages = "57--72",
journal = "Problems and Perspectives in Management (PPM)",
issn = "1727-7051",
publisher = "Business Perspectives",
number = "2",

}

RIS

TY - JOUR

T1 - Self-perception of the internal audit function within the corporate governance system - Empirical evidence for the European Union

AU - Eulerich, Marc

AU - Theis, Jochen Christopher

AU - Velte, P.

AU - Stiglbauer, Markus

PY - 2013

Y1 - 2013

N2 - Internal audit (IA) is theoretically considered a key element of modern corporate governance. Surprisingly, the existing knowledge on IA and its relation to the internal corporate governance structure is miscellaneous and rare. Consequently, empirical findings on the internal audit function (IAF) within companies' corporate governance framework in the European Union (EU) are scarce. Due to this, the objective of the empirical analysis is to draw conclusions on the structural and process organization of the IAF within the overall corporate governance structure and the IAF's cooperation with the audit committee (AC). Based on data from 3,294 responses from the 2010 Common Body of Knowledge (CBOK) study on 26 EU-member states conducting structural equation modeling the authors find that IA is an important mechanism of corporate governance structures. IA creates "value added" for the company either within the meaning of revealing problems and grievances or in the sense of precautionary measures. It is a powerful element for management supervision in the one- and two-tier system.

AB - Internal audit (IA) is theoretically considered a key element of modern corporate governance. Surprisingly, the existing knowledge on IA and its relation to the internal corporate governance structure is miscellaneous and rare. Consequently, empirical findings on the internal audit function (IAF) within companies' corporate governance framework in the European Union (EU) are scarce. Due to this, the objective of the empirical analysis is to draw conclusions on the structural and process organization of the IAF within the overall corporate governance structure and the IAF's cooperation with the audit committee (AC). Based on data from 3,294 responses from the 2010 Common Body of Knowledge (CBOK) study on 26 EU-member states conducting structural equation modeling the authors find that IA is an important mechanism of corporate governance structures. IA creates "value added" for the company either within the meaning of revealing problems and grievances or in the sense of precautionary measures. It is a powerful element for management supervision in the one- and two-tier system.

KW - Management studies

KW - Audit committee

KW - Corporate governance

KW - Internal auditing

KW - Risk management

KW - Structural equation model

UR - http://www.scopus.com/inward/record.url?scp=84887104273&partnerID=8YFLogxK

M3 - Journal articles

AN - SCOPUS:84887104273

VL - 11

SP - 57

EP - 72

JO - Problems and Perspectives in Management (PPM)

JF - Problems and Perspectives in Management (PPM)

SN - 1727-7051

IS - 2

ER -