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Factors Associated with Internal Audit Function Involvement with XBRL Implementation in Public Companies: An International Study

Author

Listed:
  • Mohammad Abdolmohammadi

    (Bentley University)

  • Steven DeSimone

    (Department of Economics and Accounting, College of the Holy Cross)

  • Tien Shih Hsieh

    (Charlton College of Business, University of Massachusetts Dartmouth)

  • Zhihong Wang

    (Graduate School of Management, Clark University)

Abstract

We examine the relationships of national legal system, company size, and corporate governance quality with internal audit function (IAF) involvement with eXtensible Business Reporting Language (XBRL) implementation in public companies. Our data source is The Institute of Internal Auditors' Global Internal Audit Common Body of Knowledge (CBOK) database, from which we extract responses from 692 chief audit executives (CAEs) for our investigation. We find evidence of differential effects of company size on IAF involvement with XBRL implementation, depending on the national legal system. In civil law countries, IAFs of small companies have significantly higher levels of XBRL involvement than do IAFs of large companies, whereas, in common law countries, IAFs of large companies have higher levels of involvement than do those of small companies. Finally, we find evidence that corporate governance quality is positively associated with IAF involvement with XBRL implementation.

Suggested Citation

  • Mohammad Abdolmohammadi & Steven DeSimone & Tien Shih Hsieh & Zhihong Wang, 2017. "Factors Associated with Internal Audit Function Involvement with XBRL Implementation in Public Companies: An International Study," Working Papers 1708, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:1708
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    Cited by:

    1. Adrian-Cosmin Caraiman, 2020. "Internal Control in Corporate Governance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 606-611, December.
    2. Troshani, Indrit & Janssen, Marijn & Lymer, Andy & Parker, Lee D., 2018. "Digital transformation of business-to-government reporting: An institutional work perspective," International Journal of Accounting Information Systems, Elsevier, vol. 31(C), pages 17-36.
    3. Fábio Albuquerque & Paula Gomes Dos Santos, 2023. "Recent Trends in Accounting and Information System Research: A Literature Review Using Textual Analysis Tools," FinTech, MDPI, vol. 2(2), pages 1-27, April.
    4. George Drogalas & Konstantinos Petridis & Nikolaos E. Petridis & Eleni Zografidou, 2020. "Valuation of the internal audit mechanisms in the decision support department of the local government organizations using mathematical programming," Annals of Operations Research, Springer, vol. 294(1), pages 267-280, November.

    More about this item

    Keywords

    Internal auditorsPublic companiesXBRL implementation; common law; civil law;
    All these keywords.

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