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Audit and risk committee in financial crime prevention

Author

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  • Wan Nailah Abdullah
  • Roshima Said

Abstract

Purpose - This empirical study aims to examine two areas: first, the characteristics of the audit committee and their relationship with corporate financial crime so as to ensure that their effectiveness as a corporate governance mechanism is still relevant; and second, the effectiveness of having a risk committee which is separated from the audit committee in the prevention of corporate financial crime. Design/methodology/approach - This empirical research was carried out by using a Web-based data collection for corporate financial crime cases. Findings - While the results for audit committee characteristics are not supported, the findings, however, indicate a significant relationship between the existence of a stand-alone risk committee with corporate financial crime incidences. Practical implications - The result of the study serves as an empirical indicator of a firm’s consideration in deciding on the implementation of a stand-alone risk committee from its audit committee. Originality/value - Both the descriptive and correlation analyses produced by this paper provide new insights into the extent of corporate financial crime, as well as the empirical evidence of the effectiveness of having a stand-alone risk committee.

Suggested Citation

  • Wan Nailah Abdullah & Roshima Said, 2019. "Audit and risk committee in financial crime prevention," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 26(1), pages 223-234, January.
    • Handle: RePEc:eme:jfcpps:jfc-11-2017-0116
    DOI: 10.1108/JFC-11-2017-0116
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    Citations

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    Cited by:

    1. Ardianto Ardianto & Nadia Anridho & Suham Cahyono & Abu Hanifah Md. Noman Alam & Iman Harymawan, 2024. "The role of risk management committee on the relationship between corporate carbon emission disclosure and capital structure," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2127-2158, May.
    2. Ozili, Peterson K, 2024. "Financial inclusion, financial crime, and fraud detection," MPRA Paper 121566, University Library of Munich, Germany.
    3. Abdullah Mohammed Sadaa & Yuvaraj Ganesan & Chu Ei Yet & Qutaiba Alkhazaleh, 2023. "The Impact of Corporate Governance Practices on Non-Performing Loans in Iraqi Banks; The Moderating Effect of Concentrated Ownership," Journal of Public Administration and Governance, Macrothink Institute, vol. 13(1), pages 3050-3050, December.

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