This paper shows that due to legal restrictions, audit committee formation in Germany is not only a matter of enhancing monitoring effectiveness, but also a means of increasing Supervi-sory Board efficiency. This result is linked to some empirical findings derived from a ques-tionnaire developed especially for the survey and sent out to 100 German Supervisory Board/audit committee chairpersons in April 2004. The questionnaire covered the motivation, composition, qualification, organisation, and responsibilities of current German audit commit-tees. The results show that free float, perceived independence of members, and the size of audit committees significantly influence audit committee composition, and that tasks that are mainly auditor-related are treated as supplementary.
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Volume (Year): 57 (2005) Issue (Month): 3 (July) Pages: 229–252 Download reference. The following formats are available: HTML
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Find related papers by JEL classification: M42 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Auditing M49 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Other