Open AccessAudit committees in the Greek banking institutions: A qualitative investigation of effectiveness
Author(s) -
Andreas Koutoupis
Publication year - 2011
Publication title -
corporate board: role, duties and composition
Language(s) - English
Resource type - Journals
eISSN - 2312-2722
pISSN - 1810-8601
DOI - 10.22495/cbv7i2art3
Subject(s) - audit , accounting , audit committee , order (exchange) , business , joint audit , information technology audit , internal audit , key (lock) , audit plan , external auditor , chief audit executive , audit evidence , finance , computer science , computer security
In order to obtain access to well-developed financial markets, Greek banks need to win and maintain investors’ confidence, not only in a symbolic and rules-based approach (complying as closely as possible with international best practices and regulations), but pursue a principlesbased approach in order to achieve the desired goal of effective audit committee. The question that this paper seeks to answer is: “What are the key drivers for an effective audit committee in countries where audit committees are relatively new?” The overall aim of this research is to identify the main drivers which may contribute to the effectiveness of audit committees and provide a framework for their successful operation in the Greek banking institutions.