Internal and External Supervisory Mechanisms in Corporate Governance

Tipurić Darko, Tušek Boris and Filipović Davor
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Tipurić Darko: Faculty of Economics and Business, University of Zagreb
Tušek Boris: Faculty of Economics and Business, University of Zagreb
Filipović Davor: Proventus strategije d.o.o. Zagreb

South East European Journal of Economics and Business, 2009, vol. 4, issue 2, 57-70

Abstract: Good corporate governance depends on well balanced relations between supervisory mechanisms in the corporate governance process. Relations between the supervisory board, as the internal supervisory mechanism, and external auditing, as the external supervisory mechanism, are crucial for the development of good corporate governance practice. This paper focuses on analyzing the relationship between the supervisory board and external auditing in order to determine the current state of that relationship in the Republic of Croatia and to determine possible guidelines for improving the relationship between the supervisory board and external auditing in practice. In addition, this study analyzes the relationship between the supervisory board and external auditing, which could lead to the maximum efficiency of both the supervisory board and external auditing and tests that relationship in practice using publicly traded companies in Croatia. This study also analyzes the impact of the audit committee on the efficiency of the supervisory board and external auditing.

Keywords: corporate governance; supervisory board; external auditing; audit committee; corporate governance; supervisory board; external auditing; audit committee (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:4:y:2009:i:2:p:57-70:n:6

DOI: 10.2478/v10033-009-0015-2

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South East European Journal of Economics and Business is currently edited by Adnan Efendic, Vesna Babić-Hodović and Aziz Šunje

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