The Relationship of Internal Audit and Risk Management: The Impact of Turbull Factors

Parmindar Singh
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Parmindar Singh: Crescendo International College, Malaysia

Journal of Accounting, Finance, Economics, and Social Sciences, 2020, vol. 5, issue 1, 19-29

Abstract: This research aims to find the relationship between internal audit and factors as specified by Turbull, namely, organizational changes, internal control failings, unexplained/unacceptable events, scale, diversity and complexity of activities and risk exposure. In addition, this research also looks at any relationship between internal audit and being public-listed. The results from this research indicates that there is a relationship between having an internal audit function and being public-listed as well as the scale, diversity and complexity of activities. However, this research finds no relationship between internal audit and organizational changes, internal control failings, unexplained/unacceptable events and risk exposure. The reasons why these deviates from corporate governance best practices are then explained. This research used convenience sampling, Chi-Square analysis and nominal data.

Keywords: Internal audit; Turbull; corporate governance; internal controls; Chi-Square (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:euj:jafess:v:5:y:2020:i:1:id:19

DOI: 10.62458/jafess.160224.5(1)19-29

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