Open AccessThe Influence of Internal Auditing on Effective Corporate Governance in the Banking Sector in Oman
Author(s) -
Zaroug Osman Bilal,
Omar Igbal Twafik,
Anaam Khamis Bakhit
Publication year - 2018
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2018.v14n7p257
Subject(s) - internal audit , accounting , corporate governance , business , audit , chief audit executive , independence (probability theory) , audit committee , work (physics) , joint audit , information technology audit , control environment , quality audit , finance , engineering , mechanical engineering , statistics , mathematics
This research aims to examine the influence of internal audit on effective corporate governance in commercial banks listed on Muscat Securities Market (MSM) in Oman. A questionnaire was used to collect data and was distributed to the 100 top senior level officials and internal audit department of the commercial banks. The regression model that was used in this study was five dependent variables: internal audit independence; proficiency and due professional care; nature of work; quality assurance and improvement program; and managing the internal audit activity. The finding of the research establishes a significant positive relationship between internal audit and effective corporate governance. Variables internal audit independence, proficiency and due professional care, and nature of work were significantly associated with corporate governance. For quality assurance and improvement program and managing the internal audit activity, their influence on corporate governance is not statistically significant.