William S. Turley|Mahbub Zaman
The Corporate Governance Effects of Audit Committees
University of Manchester|University of Manchester
arguments associated promotion audit committees many countries premised potential alleviating weaknesses corporate governance paper provides synthesis evaluation empirical research governance effects associated audit committees given recent policy recommendations several countries aimed strengthening committees important establish research evidence demonstrates existing governance contribution framework analyzing impact audit committees described identifying potential perceived effects may led adoption documented effects aspects audit function financial reporting quality corporate performance argued limited mixed evidence effects support claims perceptions value audit committees elements governance also shown existing research focused factors associated audit committee existence characteristics measures activity little evidence processes associated operation audit committees manner influence organizational behaviour clear automatic relationship adoption audit committee structures characteristics achievement particular governance effects caution may needed expectations greater codification around factors audit committee members independence expertise means correcting past weaknesses arrangements audit committees fundamental question concerning difference audit committees make practice continues important area research development future research suggest greater consideration organizational institutional contexts audit committees operate ii explicit theorization processes associated audit committee operation iii complementing extant research methods field studies iv investigation unintended behavioural well expected consequences audit committees