scholarly journals Internal and external auditors responsibilities and relationships with audit committees in two English public sector settings

2021 ◽  
Vol 18 (3, special issue) ◽  
pp. 395-409
Author(s):  
Karim Hegazy ◽  
Anne Stafford
Keyword(s):  
Public Sector ◽  
Audit Committee ◽  
Audit Committees ◽  
Institutional Setting ◽  
Structured Interviews ◽  
Internal Auditor ◽  
Loosely Coupled ◽  
Study Approach ◽  
Starting Point ◽  
The Uk

This paper assesses the job of scrutiny and oversight in public services by examining the role of the internal auditor (IA) and external auditor (EA) and their relationship with the audit committee (AC) in two distinct English public sector environments. The research uses an exploratory qualitative case study approach based on semi-structured interviews, AC meeting observations, and documentation reviews. The study acts as a starting point to examine the effectiveness of governance arrangements during a period of change in the UK public sector. The research provides evidence of good triangulation between the work of the IA, EA, and AC. Nevertheless, having close interaction between EAs and ACs and a crossing over in terms of responsibilities may lead to a conflict of interest and raises serious doubts about the independence and objectivity of the EA. This needs to be closely monitored over the coming years. Due to the diversity and wider and more complex accountability relationships and intricacies found in public sector organisations the study highlights the need to consider additional factors to the analysis of simple principal agency theory assumptions. The research further provides evidence on the existence of loosely coupled CG structures within the roles of the EA and IA within local government. This is one of the few papers which explores the IA and EA roles and their relationship with the AC in an organisational and institutional setting different from the private sector

scholarly journals Audit committees in listed companies: an international comparison of composition and meetings

2008 ◽  
Vol 5 (3) ◽  
pp. 75-85
Author(s):  
Esmée Van Gansbeke ◽  
Patricia Everaert ◽  
Gerrit Sarens ◽  
Ignace De Beelde
Keyword(s):  
Corporate Governance ◽  
The Netherlands ◽  
Audit Committee ◽  
Listed Companies ◽  
Audit Committees ◽  
Annual Reports ◽  
Internal Auditor ◽  
Corporate Governance Codes ◽  
The Usa ◽  
The Uk

This paper compares the number of audit committee (AC) members, meeting frequency and the presence of internal auditors at AC meetings of listed companies according to their country of domicile. We consider the USA, the UK, the Netherlands, France and Belgium. Hypotheses are developed based on differences in corporate governance codes. Data are gathered from annual reports of 100 listed companies in these countries. Our results indicate fewer AC members in the Netherlands, and a higher frequency of AC meetings in the UK and Belgium, countries where corporate governance codes do not proscribe a minimum number of meetings. The presence of an internal auditor at AC meetings was, on average, highest for firms listed in the USA.

scholarly journals Audit committee roles and responsibilities in two English public sector settings

2016 ◽  
Vol 31 (8/9) ◽  
pp. 848-870 ◽  
Author(s):  
Karim Hegazy ◽  
Anne Stafford
Keyword(s):  
Public Sector ◽  
Institutional Theory ◽  
Audit Committee ◽  
Organizational Context ◽  
New Public Management ◽  
Comparative Case Study ◽  
Institutional Setting ◽  
Structured Interviews ◽  
Content Type

Purpose This paper aims to conduct a comparative study by examining the Audit Committee (AC) set-up, roles, responsibilities and developments in two distinct English public sector settings, namely, foundation trusts (FTs) and local authorities (LAs). Design/methodology/approach The paper is exploratory and explanatory in nature and uses a qualitative case study approach framed in institutional theory. It is based on semi-structured interviews with AC chairs, external and internal auditors and finance directors triangulated with meeting observations and documentation review. Findings The study finds that public sector ACs have a large and diverse role which extends beyond challenging/monitoring responsibilities. Influenced by the New Public Management ideology, the AC has developed more rapidly in FTs due to imposed regulation contrasting with the slower progress in LAs due to its still voluntary adoption. Nevertheless, in both environments, there is a developing understanding and growing competence within the AC in terms of their assurance role where the focus has shifted from an emphasis on function and on transacting business through following a manual, to a more strategic-looking approach. Research limitations/implications Due to the complexity of public sector settings, and by using an approach framed within institutional theory, the study contributes by challenging a simple notion of isomorphism as an explanation of AC roles, responsibilities and development in two distinct public sector environments. Furthermore, the study recognizes that there is a need to ensure ACs are appropriate to their institutional setting and organizational context. Originality/value Most AC studies have focused on private sector contexts. This paper explores the phenomenon in a different organizational context, namely, as a public sector comparative case study.

The role of audit committees in mitigating earnings management: evidence from Jordan

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Taha Almarayeh ◽  
Modar Abdullatif ◽  
Beatriz Aibar-Guzmán
Keyword(s):  
Developing Countries ◽  
Earnings Management ◽  
Audit Committee ◽  
Discretionary Accruals ◽  
Least Square ◽  
Audit Committees ◽  
Institutional Setting ◽  
Content Type ◽  
The Impact

PurposeThis study examines the relationship between audit committees (ACs) and earnings management (EM) in the developing country context of Jordan. In particular, it investigates whether audit committee attributes, including their size, independence, expertise and meetings, are able to restrict discretionary accruals as a proxy for EM.Design/methodology/approachThe generalized least square (GLS) regression was used to study the association between audit committee attributes and discretionary accruals, as a proxy of EM, for a sample of industrial firms listed on the Amman Stock Exchange (ASE) during the period 2012–2020. Data were obtained from the firms' annual reports.FindingsThe regression results indicate that audit committee independence is the only audit committee attribute that seems to improve the effectiveness of ACs, in that it is significantly associated with less EM, while other audit committee attributes that were tested do not show statistically significant associations.Research limitations/implicationsIn emerging markets, like Jordan, ACs may not be an efficient monitoring mechanism; therefore, it can be argued that the prediction made by the agency theory about the role of ACs in mitigating opportunistic EM activities does not necessarily apply to all contexts.Practical implicationsA better understanding of audit committee effectiveness in developing countries could help regulators in these countries assess the impact of planned corporate governance (CG) reforms and to better monitor and enhance the performance of ACs.Social implicationsIn a setting characterized by closely held companies, high power distance and low demand for high-quality CG mechanisms, this study contributes to understanding how this business system operates, and how improving CG mechanisms could be successful in such cultures.Originality/valueThis study investigates the under-researched relationship between audit committee characteristics and EM in developing countries. In so doing, it aims to provide new insights into this relationship within the developing context case of Jordan, including if and how the institutional setting influences this relationship.

scholarly journals Corporate Governance and Performance of Audit Committee and Internal Audit Functions in an Emerging Economy’s Public Sector

2020 ◽  
Vol 13 (1) ◽  
pp. 85-98
Author(s):  
Shewangu Dzomira
Keyword(s):  
Corporate Governance ◽  
Public Sector ◽  
Audit Committee ◽  
Qualitative Content Analysis ◽  
Internal Audit ◽  
Audit Committees ◽  
The Public ◽  
Effective Performance ◽  
And Performance ◽  
Management Audit

This article seeks to examine corporate governance and the performance of audit committee and internal audit functions in an emerging economy’s public sector. These two functions form a part of imperative corporate governance aspects, and their effective performance ensures better service delivery by public sector agencies. The study is premised on stakeholder theory, which has turned out to be the central point of public sector discourses. The study is based on qualitative content analysis, which aspires to present information about corporate governance and effectiveness of audit committees and internal audit units in South Africa’s public sector. The findings suggest that there is good corporate governance in terms of the existence of audit committees and internal audit functions in the public sector. However, the results suggest that the audit committees and internal audit units in South Africa’s public sector are not effective. Absence of advice, implementation of recommendations and inadequacy of resources have undermined the performance of audit committees and internal audit units in South Africa’s public sector. The leadership and other assurance bringers ought to consider the findings elevated by the audit committees and internal audit and execute their commendation. Their findings should be urbanised into action plans that are implemented by management. Audit committees must improve their oversight on internal audit functions so that both units would effectively perform. The subsistence of successful audit committee and internal audit components in the public sector certifies proficient and effectual exploitation of resources for the gain of all stakeholders.

An investigation into the roles, characteristics, expectations and evaluation practices of audit committees

2015 ◽  
Vol 30 (8/9) ◽  
pp. 727-755 ◽  
Author(s):  
Nonna Martinov-Bennie ◽  
Dominic S.B. Soh ◽  
Dale Tweedie
Keyword(s):  
Audit Committee ◽  
Active Role ◽  
Audit Committees ◽  
Regulatory Change ◽  
Structured Interviews ◽  
Regulatory Requirements ◽  
Content Type ◽  
Evaluation Practices ◽  
Primary Driver ◽  
And Performance

Purpose – This paper aims to investigate how the roles, characteristics, expectations and evaluation practices of audit committees have adapted to regulatory change and what practices are most conducive to effective audit committees. Design/methodology/approach – This paper uses semi-structured interviews with audit committee chairs and chief audit executives. Findings – While new regulation is a primary driver of changes in the roles of audit committees, the audit committee’s role has evolved beyond regulatory requirements. Audit committees are taking a more active role in organisational governance and performance in key areas such as risk management. However, while audit committees have a clear concept of what characteristics committee members require, conceptual frameworks and mechanisms for evaluating the performance of committees and their members remain underdeveloped. Research limitations/implications – The responses of audit committees in Australia to broader regulatory trends suggest that more research is required into how audit committees function in practice, and into developing new frameworks for evaluating the committees’ performance. This paper provides an in-depth exploration of key areas of audit committee performance, and identifies aspects that might be further investigated. Practical implications – The paper identifies key attributes of effective audit committees and especially the characteristics of audit committee members. The paper also identifies a need to improve – and in many cases create – performance evaluation frameworks and mechanisms. Given the international regulatory trend towards greater reliance on audit committees to improve governance, more policy attention is required on developing guidelines and assessment processes that evaluate whether audit committees are fulfilling their legislative mandate in practice. Originality/value – The paper contributes to the relatively new and more specific discussion on reviewing and evaluating the performance of the board and its subcommittees.

Status of lean construction implementation among small and medium building contractors (SMBCs) in Ghana

2020 ◽  
Vol 18 (6) ◽  
pp. 1691-1709
Author(s):  
Emmanuel Nsiah Ankomah ◽  
Joshua Ayarkwa ◽  
Kofi Agyekum
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Lean Construction ◽  
The Body ◽  
Structured Interviews ◽  
Content Type ◽  
Face To Face ◽  
Study Approach ◽  
Starting Point ◽  
The Status

Purpose The purpose of this study is to ascertain the extent to which the practices of small and medium building contractors (SMBCs) conform to lean construction (LC) principles. Ultimately, practical results encourage a discourse on the true potentials and challenges to the holistic uptake of LC principles in the Ghanaian construction industry. Design/methodology/approach This research is based on a qualitative case study approach. The data was obtained through face-to-face structured interviews. Findings Across the cases, it was realized that there is a low-level application of LC principles among SMBCs. There was no indication that lean concepts were used on a company-wide basis in the Ghanaian construction industry. Furthermore, the study revealed that the traditional wasteful approach to managing construction projects was still prevalent among the firms. Practical implications This paper uses the 4P model as a foundation for assessing the extent to which the practices of SMBCs conform to LC principles. Practically, the study also created a certain level of awareness among the SMBCs about LC, LC principles and the benefits of the application of these principles within organizations. Originality/value This study contributes to the body of knowledge as it uncovers the status of LC implementation among SMBCs in the Ghanaian construction industry. The findings that are presented in this paper can be used as a starting point to disseminate the research and practice of LC among SMBCs.

Investigating Entrepreneurial Success Factors of Businesses Owned by Nigerian Women in the UK

2022 ◽  
pp. 160-187
Author(s):  
Victoria Temitope ◽  
Seema Sharma
Keyword(s):  
Work Experience ◽  
Women Entrepreneurs ◽  
Success Factors ◽  
Primary Data ◽  
Success Factor ◽  
Entrepreneurial Success ◽  
Structured Interviews ◽  
Nigerian Women ◽  
Study Approach ◽  
The Uk

The aim of this study is to investigate the entrepreneurial success factors of Nigerian women entrepreneurs based in the UK. An exploratory case study approach was used to gather the primary data from 15 small businesses run by Nigerian women entrepreneurs in the UK. The data collection was conducted through face-to-face semi-structured interviews, observations, and published sources. The data was thematically analysed using NVivo. The main findings indicated that Nigerian women entrepreneurs in the UK primarily depend on personal traits, self-funding, work experience, personal satisfaction, physical networking, and family support for business success. The most significant entrepreneurial success factor was the personal success factor. The study provided feasible recommendations for Nigerian women entrepreneurs based in the UK to put emphasis on environmental success factors and online networking, taking advantage of social media platforms for easy and quicker reach of more customers and business partners.

scholarly journals How can leaders and managers in the Police support the learning of others and at the same time, support their own?

2018 ◽  
Vol 7 (3) ◽  
pp. 228-247 ◽  
Author(s):  
Jenni Jones
Keyword(s):  
Focus Groups ◽  
Personal Development ◽  
Structured Interviews ◽  
Line Managers ◽  
Content Type ◽  
Team Members ◽  
Study Approach ◽  
Moderating Factors ◽  
The Uk

Purpose The purpose of this paper is to attempt to demonstrate that formal mentoring is a helpful tool to develop managers within the changing context of the UK Police, and to highlight how managers can have an influence on mentoring programmes and the learning within them. Design/methodology/approach A longitudinal qualitative case study approach was chosen and semi-structured interviews were conducted alongside focus groups. Findings The findings showed that both mentees and mentors perceived they were learning within the mentoring relationship. Also, despite some common themes in relation to the key moderating factors, managers were seen as both facilitating and hindering these mentoring relationships. Research limitations/implications It was recognised that although interesting to compare and contrast the findings between the two different case study organisations, the findings drawn from this study may not be directly applicable to other mentoring programmes beyond these UK Police Forces. More could have been explored in the focus groups and information could have been collected from those that did not attend the interviews or the focus groups. Originality/value This research adds value as there is little written about the mentoring and managers, within the interesting changing context of the UK Police force. The insights from this mentoring research suggest that there is much learning to be gained by both parties through mentoring and that line managers need to be encouraged away from the day to day reactive approach towards being more proactive with supporting the personal development of their team members (and themselves) into the future. If they are more involved and supportive of learning and development interventions, then they and their team members will gain more from the experience and this will ultimately help them to make a more positive difference within their role.

scholarly journals Implementing IFRSs in the UK devolved administrations

2016 ◽  
Vol 29 (2) ◽  
pp. 198-225 ◽  
Author(s):  
Anthony Wall ◽  
Ciaran Connolly
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Structured Interviews ◽  
Online Questionnaire ◽  
Content Type ◽  
Minimal Impact ◽  
Financial Reporting Standards ◽  
New Information ◽  
Privatisation Programme ◽  
The Uk

Purpose – Utilising concepts drawn from the governmentality literature, the purpose of this paper is to examine the adoption of International Financial Reporting Standards (IFRSs) in the UK’s devolved administrations of Northern Ireland, Scotland and Wales in order to assess why they were adopted and how their introduction has been governed. Design/methodology/approach – This research applies a combination of three different approaches, namely: a content analysis; an anonymous online questionnaire; and semi-structured interviews. Findings – These include: the transition has had minimal impact upon policy setting and the information produced to aid budgeting and decision making; IFRSs are not entirely appropriate for the public sector; the time, cost and effort involved outweighed the benefits; public sector accounting has become overly-complicated; and the transition is not perceived as part of a wider privatisation programme. Research limitations/implications – As this study focuses upon the three UK devolved administrations, the findings may not be applicable in a wider setting. Practical/implications – Public sector change must be adequately resourced, carefully planned, with appropriate systems, trained staff and interdisciplinary project teams; accounting change should be based on value for money; and a single, coherent financial regime for the way in which government uses budgets, presents estimates to Parliament and publishes its resource accounts should be implemented. Originality/value – This study highlights that accounting change is not just a technical issue and, while it can facilitate a more business-like environment and enhance accountability, all those affected by the changes may not have the requisite skills to fully utilise the (new) information available.

scholarly journals Host Community Perceptions of Volunteer Tourists in the Northern Tourist Circuit, Tanzania

2021 ◽  
Author(s):  
◽  
Peter Marwa Ezra
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Host Community ◽  
Local People ◽  
Volunteer Tourism ◽  
Structured Interviews ◽  
Developed Country ◽  
For Profit ◽  
Study Approach ◽  
Not For Profit

<p>The existing and growing body of volunteer tourism literature has broadly addressed a myriad of topics but with a major focus on volunteer tourists. Limited knowledge is available on how these volunteer tourists are perceived by the host communities. The current literature defines volunteer tourists based on the perspective from where the majority of volunteer sending organizations and volunteer tourists come from – the primarily Western, developed country perspective. This study argues that this Western-dominated and developed country conceptualization of volunteer tourism and volunteer tourists must be addressed. In response the study examines the perceptions and conceptualisations of ‘volunteer tourists’ from the perspective of a host community in a developing country, Tanzania. To capture a multitude of host community perspectives on volunteer tourists, a qualitative case study approach was adopted which focused on a village near Arusha on the Northern Tourist Circuit (NTC) of Tanzania. Forty five semi-structured interviews were conducted with different community stakeholders, including private sector and public sector employees, people working for the not-for-profit sector and local people without affiliation to any of these three sectors. Importantly, these interviews were conducted by a Tanzanian researcher in Swahili and/or English. This research reveals that various stakeholders within the host community have different meanings and understandings of volunteer tourists based on their expectations and experiences. For example, the local people and those working for the not-for-profit sector perceived volunteer tourists as donors and sponsors, while those working in the public sector perceive volunteer tourists as international workers and/or NGO employees; and the private sector respondents perceived volunteer tourists as niche tourists. The study also reveals that the host community attributes that influence their perceptions are based on economic, socio-cultural, environmental and legal and/or regulatory framework factors; this includes, for example, racial ethnicity and poverty. Moreover, this research found that the host community’s perceptions of volunteer tourists are shaped by the issues of trust and mistrust that transpire in the course of their interaction. The study highlights the need to consider the financial element of volunteer tourism as a positive aspect and stresses the involvement of host community in the operation and management of volunteer tourist organizations.</p>

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