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Corporate governance mechanisms and audit report timeliness: empirical evidence from Oman

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  • Saeed Rabea Baatwah
  • Zalailah Salleh
  • Norsiah Ahmad

Abstract

This study provides empirical testing of evidence on whether internal and external corporate governance mechanisms are associated with audit report timeliness. We employ data from companies listed on the Omani capital market. Using a panel data approach, we discover that only internal corporate governance mechanisms associated with timely audit report. More specifically, we find board characteristics such as size and expertise, and audit committee characteristics such as financial expertise, are associated with improved audit report timeliness. By using composite measure for internal corporate governance mechanisms, we also find that audit committee quality enhances audit report timeliness while board quality does not. We further demonstrate that corporate governance mechanisms play a substitution role rather than a complementary role in explaining audit report timeliness. Thus, we conclude that corporate governance mechanisms in Oman are not as effective as in more developed countries and that regulators in such a less developed country should impose and encourage substantial corporate governance practices instead of merely adhering to pro-forma practices.

Suggested Citation

  • Saeed Rabea Baatwah & Zalailah Salleh & Norsiah Ahmad, 2015. "Corporate governance mechanisms and audit report timeliness: empirical evidence from Oman," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 11(3/4), pages 312-337.
    • Handle: RePEc:ids:ijaape:v:11:y:2015:i:3/4:p:312-337
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    Citations

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    Cited by:

    1. Ali Rehman, 2021. "Can Sustainable Corporate Governance Enhance Internal Audit Function? Evidence from Omani Public Listed Companies," JRFM, MDPI, vol. 14(11), pages 1-16, November.
    2. Sarhan, Ahmed A. & Ntim, Collins G. & Al-Najjar, Basil, 2019. "Antecedents of audit quality in MENA countries: The effect of firm- and country-level governance quality," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 35(C), pages 85-107.
    3. Hidaya Lawati & Khaled Hussainey & Roza Sagitova, 2021. "Disclosure quality vis-à-vis disclosure quantity: Does audit committee matter in Omani financial institutions?," Review of Quantitative Finance and Accounting, Springer, vol. 57(2), pages 557-594, August.
    4. repec:mth:ijafr8:v:9:y:2019:i:1:p:152-169 is not listed on IDEAS
    5. Nahla Abdulrahman Mohammed Raweh & Hasnah Kamardin & Mazrah Malik @ Malek & Abdulwahid Ahmed Hashed Abdullah, 2021. "The Association between Audit Partner Busyness, Audit Partner Tenure, and Audit Efficiency," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(1), pages 90-103, January.
    6. repec:mth:ijafr8:v:9:y:2019:i:1:p:450-461 is not listed on IDEAS

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