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The relationship between the audit committee

Author

Listed:
  • Emilia VASILE

    (“Athenaeum” University of Bucharest)

  • Daniela MITRAN

    (“Athenaeum” University of Bucharest)

Abstract

Audit committees, governance type or otherwise, are a less common feature in EU Member States, where only few countries have extended audit committees or “governance” or similar such committees . Audit committees in the private sector focus on ensuring the reliability and the internal and external reporting, and therefore on the internal and external audit, the quality of internal control systems and risk management processes. For many countries applying this type of public sector audit committee may be too sophisticated, because there are no preconditions for its existence. The existence of audit committees does not automatically mean that organizations function properly and have no governance, internal control and external reporting problems. Because of the importance of communication between the internal auditors and the audit committee, the paper addresses issues such as planning discussions with internal auditors, analysis and conclusions as a result of communication, questionnaire models for the addressed areas and planning the meetings with external auditors.

Suggested Citation

  • Emilia VASILE & Daniela MITRAN, 2016. "The relationship between the audit committee," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(137), pages 518-518, April.
    • Handle: RePEc:aud:audfin:v:14:y:2016:i:137:p:518
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    References listed on IDEAS

    as
    1. Emilia VASILE & Ion CROITORU, 2013. "Corporate Governance In The Current Crisis," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 30(1), pages 9-20, June.
    2. Mazlina Mat Zain & Nava Subramaniam, 2007. "Internal Auditor Perceptions on Audit Committee Interactions: a qualitative study in Malaysian public corporations," Corporate Governance: An International Review, Wiley Blackwell, vol. 15(5), pages 894-908, September.
    3. repec:ath:journl:tome:30:v:2:y:2013:i:30:p:1-11 is not listed on IDEAS
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    Cited by:

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    More about this item

    Keywords

    Management; internal auditors; internal control; external auditors; audit committee; board of directors;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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