Correlates of External Quality Assessment and Improvement Programs in Internal Auditing

Steven DeSimone () and Mohammad Abdolmohammadi ()
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Steven DeSimone: Department of Economics and Accounting, College of the Holy Cross
Mohammad Abdolmohammadi: Bentley University

No 1607, Working Papers from College of the Holy Cross, Department of Economics

Abstract: We use survey responses from 1,053 chief audit executives (CAEs) of public companies located in 68 countries to investigate the theoretical correlates of the use of external quality assessment and improvement programs (ExternalQAIP) for the Internal Audit Function (IAF). Our test variables are (1) internal quality assessment and improvement programs (InternalQAIP) and its related components and IAF performance measures, (2) chief audit executive competence, (3) audit committee involvement with the internal audit, (4) IAF age, (5) IAF outsourcing status (in-house or outsourced), and (6) the nature of the IAF's work (work performed by IAF). We find support for our hypothesized associations between various measures of InternalQAIP and ExternalQAIP. We also find significant and positive results for associations between audit committee involvement and IAF age and ExternalQAIP. However, we do not find significant results for in-house or outsourcing of internal audit activities, CAE competence, or control variables. Our results should be of interest to management, CAEs, corporate boards, regulators, and external auditors.

Keywords: internal auditing; external and internal quality assessment and improvement programs; Institutional Theory (search for similar items in EconPapers)
Pages: 19 pages
Date: 2016-12
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Citations: View citations in EconPapers (3)

Published in Journal of International Accounting Research, Volume 15, Number 2, Summer 2016, Pages 53-71.

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Persistent link: https://EconPapers.repec.org/RePEc:hcx:wpaper:1607

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