An examination of the role of audit committees in the Saudi Arabian corporate sector

Corporate Governance

Volumn 10, Issue 4, 2002, Pages 288-297

  Al Twaijry, Abdulrahman A M ^a   Brierley, John A ^b   Gwilliam, David R ^b  

^a KING SAUD UNIVERSITY   (Saudi Arabia)

^b UNIVERSITY OF SHEFFIELD   (United Kingdom)

Author keywords

Audit committees; Cadbury Code; Corporate governance; Saudi Arabia; Treadway Commission

Indexed keywords

EID: 0036802554     PISSN: 09648410     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-8683.00293     Document Type: Review

References (61)

1. Abbott, L.J. and Parker, S. (2000) Auditor Selection and Audit Committee Characteristics, Auditing: A Journal of Practice & Theory, 19, 47-66.
2. Abbott, L.J., Park, Y. and Parker, S. (2000) The Effects of Audit Committee Activity and Independence on Corporate Fraud, Managerial Finance, 26, 55-67.
3. Abulkhair, B.A. (1995) The Guidelines for Choosing the Audit Committees Must Be Revised, Arriyadh Newspaper, 25 November, 31.
4. Alfaij, K. (1997) Do the Committees Kill the Issues they were Intended to Address, Tijarat Arriyyadh, September, 65.
5. Al-Twaijry, A.A.M. (2000) The Role, Practice and Value-Added of the Internal Audit Function in the Corporate Sector of Saudi Arabia: An Empirical Investigation, Unpublished PhD dissertation, University of Wales, Aberystwyth.
6. Alwabil, W.A. (1996) An Extensive Debate Regarding the Decision to Require Audit Committees in the Saudi Joint Stock Companies, Almuhasabah, August, 38-45.
7. American Bar Association (ABA) (1978) Corporate Director's Guidebook. Chicago: American Press International.
8. Arrubaish, M. (1995) Yes, Audit Committees in the Companies are Tahseel Hasil, Arriyadh Newspaper, 7 November, 32.
9. Assaqqa, S.A. (1995) A Proposed Framework for Measuring and Developing the Effectiveness of the Audit Committees in Saudi Joint Stock Companies, Paper presented to the Accounting Conference, Department of Accounting, King Saud University.
10. Bartlett, R.W. (1993) A Scale of Perceived Independence: New Evidence on an Old Concept, Accounting, Auditing and Accountability Journal, 6, 52-67.
11. Beattie, V., Brandt, R. and Fearnley, S. (1997) Look to your Laurels, Accountancy, July, 140-141.
12. Blue Ribbon Committee (BRC) (1999) Improving the Effectiveness of Corporate Audit Committees. Stamford, CT.
13. Brewer, J. (1997) The State of Corporate Governance in Hong Kong, Corporate Governance: An International Review, 5, 77-82.
14. Business Council of Australia (BCA) (1991) Corporate Practices and Conduct. Melbourne: Bosch.
15. Cadbury Committee (1992) The Financial Aspects of Corporate Governance. London: Gee & Co.
16. Canadian Institute of Chartered Accountants (CICA) (1988) Report of the Commission to Study the Public's Expectations of Audits (The MacDonald Commission). Toronto: CICA.
17. CISCO (1993) The Financial Aspects of Corporate Governance: Guidance for Smaller Companies. London: CISCO.
18. Collier, P. (1993) Factors Affecting the Formation of Audit Committees in Major UK Listed Companies, Accounting and Business Research, 23, 421-430.
19. Collier, P. (1997) Audit committees in smaller listed companies. In K. Keasey and M. Wright (eds), Corporate Governance: Responsibilities, Risks and Remuneration. Chichester: Wiley, 93-119.
20. Combined Code (1999) The Combined Code. London.
21. DeAngelo, L. (1981) Auditor Independence, Low-Balling and Disclosure Regulation, Journal of Accounting and Economics, 1, 113-127.
22. Ecton, W. and Reinstein, R. (1982) Audit Committees: Can They Be More Effective? Financial Executive, November, 32-37.
23. Eichenseher, J.W. and Shields, D. (1985) Corporate Director Liability and Monitoring Preferences, Journal of Accounting and Public Policy, 4, 13-31.
24. Ezzamel, M. and Watson, R. (1997) Wearing two hats: the conflicting control and management roles of non-executive directors. In K. Keasey, S. Thomson and M. Wright (eds), Corporate Governance: Economic Management and Financial Issues. Oxford: Oxford University Press, 54-79.
25. Falk, H. and Frucot, V. (1997) Perceived Auditor Independence, Asia-Pacific Journal of Accounting, 4, 94-107.
26. Fallatah, Y.A. (1995) Audit Committees are not Tahseel Hasil, Arriyadh Newspaper, 19 November, 24.
27. Finance Committee on Corporate Governance (FCCG) (1999) Report on Corporate Governance. Malaysia: Ministry of Finance.
28. Goddard, A.R. and Masters, C. (2000) Audit Committees, Cadbury Code and Audit Fees: An Empirical Analysis of UK Companies, Managerial Auditing Journal, 15, 358-371.
29. Hampel Committee (1998) Hampel Committee on Corporate Governance: Final Report. London: Gee & Co.
30. Harrison, J.R. (1987) The Strategic Use of Corporate Board Committees, California Management Rerview, 30, 109-125.
31. Hashim, A. (1996) An Invitation to Evaluate the Audit Committee's Work, Almuhasabah, August, 38-45.
32. Hughes, M. (1996) Interviewing Research Methods. London: Arnold.
33. Institute of Internal Auditors (IIA) (1993) Improving Audit Committee Performance: What Works Best. Altamonte Springs, FL: The Institute of Internal Auditors Research Foundation.
34. Jemison, D. and Oakley, P. (1983) Corporate Governance in Mutual Insurance Companies, Journal of Business Research, 11, 501-522.
35. Kalbers, L.P. and Fogarty, T. (1993) Audit Committee Effectiveness: An Empirical Investigation of the Contribution of Power, Auditing: A Journal of Practice & Theory, 12, 24-48.
36. Khudair, M.I. (1995) Comment: Audit Committees Are Not The Solution, Arriyadh Newspaper, November, 15.
37. Koladkiewicz, I. (2001) Building of a Corporate Governance System in Poland: Initial Experiences, Corporate Governance: An International Review, 9, 228-237.
38. KPMG Peat Marwick (1988) The Audit Committee. KPMG Peat Marwick.
39. Mallin, C. and Jelic, R. (2000) Developments in Corporate Governance in Central and Eastern Europe, Corporate Governance: An International Review, 8, 43-51.
40. Menon, K. and Williams, J.D. (1994) The Use of Audit Committees for Monitoring, Journal of Accounting and Public Policy, 13, 121-139.
41. National Commission on Fraudulent Financial Reporting (NCFFR) (1987) Report of the National Commission on Fraudulent Financial Reporting. New York: AICPA.
42. New York Stock Exchange (NYSE) (1978) Exchange Votes to Require Audit Committees for Listing, News Release. New York: NYSE, 6 January.
43. Ow-Yong, K. and Cheah, K.G. (2000) Corporate Governance Codes: A Comparison Between Malaysia and the UK, Corporate Governance: An International Review, 8, 125-132.
44. Pincus, K., Rubarsky, M. and Wong, J. (1989) Voluntary Formation of Corporate Audit Committees Among NASDAQ Firms, Journal of Accounting and Public Policy, 8, 239-265.
45. Public Oversight Board (1993) In the Public Interest. Stamford, CT: POB.
46. Reinstein, A. and Weirich, T.R. (1996) Testing for Bias in the Audit Committee, Managerial Auditing Journal, 11, 28-35.
47. Scarbrough, P., Rama, D. and Raghunandan, K. (1998) Audit Committee Composition and Inter-action with Internal Auditing: Canadian Evidence, Accounting Horizons, 12, 51-62.
48. Securities and Exchange Commission (SEC) (1940) On the Matter of McKesson and Robbins Inc. - Summary of the Findings and Conclusions, Accounting Series Release No. 1-112 (ASR No. 19). Washington, DC: US Government Printing Office, 20.
49. Securities and Exchange Commission (SEC) (1972) Standing Audit Committee Composed of Outside Directors, Accounting Series Release. Washington, DC: US Government Printing Office, 23 March.
50. Securities and Exchange Commission (SEC) (1980) Staff Report on Corporate Accountability. Washington, DC: US Government Printing Office.
51. Shabani, M.A. (1995) Audit Committees: The Guidelines for Choosing its Members Should be Re-considered, Arriyadh Newspaper, 11 November, 46.
52. Sommer, A. (1991) Auditing Audit Committees: An Educational Opportunity for Auditors, Accounting Horizons, 5, 91-93.
53. Spira, L.F. (1995) The Audit Committee: Pawn or Panacea? The Journal of Applied Accounting Research, 2, 70-98.
54. Spira, L.F. (1998) An Evolutionary Perspective on Audit Committee Effectiveness, Corporate Governance: An International Review, 6, 29-38.
55. Spira, L.F. (1999) Independence in Corporate Governance: The Audit Committee Role, Business Ethics: A European Review, 8, 262-273.
56. Strawser, J., O'Shaughnessy, J. and Siegel, P. (1995) Reducing the Incidence of Fraudulent Financial Reporting: Evaluating the Treadway Commission Recommendations and Potential Legislation, Research in Accounting Regulation, 9, 83-104.
57. Toronto Stock Exchange (TSE) Committee on Corporate Governance in Canada (1994) Where Were the Directors? Toronto: TSE.
58. Turnbull (1999) Internal Control: Guidance for Directors of Listed Companies Incorporated in the United Kingdom. London: The Institute of Chartered Accountants in England and Wales.
59. Wallman, S.M.H. (1996) The Future of Accounting, Part III: Reliability and Auditor Independence, Accounting Horizons, 10, 76-97.
60. Yakasai, A.G.A. (2001) Corporate Governance in a Third World Country with Particular Reference to Nigeria, Corporate Governance: An International Review, 9, 238-253.
61. Zahra, S.A. and Pearce, J.A. (1989) Boards of Directors and Corporate Performance: A Review and Integrative Model, Journal of Management, 15, 291-334.