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Do investment in and the sourcing arrangement of the internal audit function affect audit delay?

Wan Nordin Wan-Hussin and Hasan Mohammed Bamahros

Journal of Contemporary Accounting and Economics, 2013, vol. 9, issue 1, 19-32

Abstract: This paper investigates the association between the internal audit function attributes and audit delay using a sample of 432 publicly traded firms in Malaysia in 2009. In this unique setting, we capitalize on the publicly available data concerning the investment in and the sourcing arrangement of internal audit function. We find a negative relationship between the costs incurred for the internal audit function and audit delay. However, we do not find any significant association between the internal audit function sourcing arrangements and audit delay. Additionally, we find that greater audit committee independence and longer auditor–client tenure shorten audit delay, and more frequent audit committee meetings and higher misstatements in the preliminary unaudited earnings are associated with a longer audit delay.

Keywords: Audit lag; Internal audit; Audit committee; Auditor tenure; Malaysia (search for similar items in EconPapers)
Date: 2013
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Journal of Contemporary Accounting and Economics is currently edited by Agnes C.S. Cheng, P. Clarkson, F.A. Gul, Zoltan Matolcsy, Dan Simunic and Ben Srinidhi

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