Charbel Salloum|Georges Azzi|Elias Gebrayel
Audit Committee and Financial Distress in the Middle East Context: Evidence of the Lebanese Financial Institutions
Holy Spirit University of Kaslik|Holy Spirit University of Kaslik|Muscat College
purpose paper detect impact audit committee characteristics lebanese financially distressed nondistressed banks four characteristics audit committee examined size composition frequency meeting financial expertise sample includes 54 ebanese banks fiscal yearsend 2009 2011 financially distressed nondistressed banks identified bank profitability results show financial distress banks significant negative relation meeting frequency audit committee hence evidence suggests meeting frequency audit committee members important factor helps audit committee hinder financial distress bank meeting frequency plays important role ensure audit committee effectiveness words audit committee frequent meetings able help audit committee members ensure integrity financial reporting provide better monitoring review effectively operations establishment decision audit committee adopted 2008 modified 2010 lebanese banks study examines actuality subject consequently paper represented added value corporate governance lebanese banks shows importance audit committee impact financial performance future studies concentrate impact managerial dominance board board composition ceo duality management ownership independence audit committee may influence bank performance