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Correlates of External Quality Assessment and Improvement Programs in Internal Auditing

Author

Listed:
  • Steven DeSimone

    (Department of Economics and Accounting, College of the Holy Cross)

  • Mohammad Abdolmohammadi

    (Bentley University)

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.

Suggested Citation

  • Steven DeSimone & Mohammad Abdolmohammadi, 2016. "Correlates of External Quality Assessment and Improvement Programs in Internal Auditing," Working Papers 1607, College of the Holy Cross, Department of Economics.
    • Handle: RePEc:hcx:wpaper:1607
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    File URL: http://aaajournals.org/doi/abs/10.2308/jiar-51422
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    Cited by:

    1. Georgia Boskou & Efstathios Kirkos & Charalambos Spathis, 2018. "Assessing Internal Audit with Text Mining," Journal of Information & Knowledge Management (JIKM), World Scientific Publishing Co. Pte. Ltd., vol. 17(02), pages 1-22, June.
    2. Steven DeSimone & Giuseppe D’Onza & Gerrit Sarens, 2019. "Correlates of Internal Audit Function Maturity," Working Papers 1905, College of the Holy Cross, Department of Economics.
    3. Saeed Rabea Baatwah & Adel Ali Al-Qadasi, 2020. "Determinants of outsourced internal audit function: a further analysis," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 10(4), pages 629-659, December.

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