Correlates of Internal Audit Function Maturity

Steven DeSimone, Giuseppe D’Onza Giuseppe D’Onza (giuseppe.donza@unipi.it) and Gerrit Sarens (gerrit.sarens@uclouvain.be)
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Giuseppe D’Onza Giuseppe D’Onza: University of Pisa
Gerrit Sarens: Louvain School of Management, Université Catholique de Louvain

No 1905, Working Papers from College of the Holy Cross, Department of Economics

Abstract: We identify several dimensions of the Internal Audit Function (IAF) as a composite measure of IAF maturity by using Principal Components Analysis (PCA) Our data is from the Common Body of Knowledge in Internal Auditing (CBOK) (2015) dataset. We find confirmation for our four hypotheses, where the support the IAF receives from the board, diversified training programs, the use of the IAF as a management training ground, and the maturity of the risk management system are significantly related to IAF maturity. Our hypotheses are verified both at a global and regional level. Regarding control variables, IAF age, CAE tenure, CAE certifications, and non-listed companies are also significant at a global level but not at regional level. We discuss implications of these findings for future practice and research.

Keywords: Internal audit maturity; leading audit technology; risk management maturity (search for similar items in EconPapers)
Pages: 36 pages
Date: 2019-07
New Economics Papers: this item is included in nep-acc
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