Non-executive directors and the changing nature of audit committees: Evidence from UK audit committee chairmen

Corporate Ownership and Control

Volumn 1, Issue 3, 2004, Pages 108-115

  Windram, Brian ^a   Song, Jihe ^b  

^a EDINBURGH NAPIER UNIVERSITY   (United Kingdom)

^b ABERYSTWYTH UNIVERSITY   (United Kingdom)

Author keywords

Audit committees; Director fees; Financial literacy; Non executive directors

Indexed keywords

EID: 22144460707     PISSN: 17279232     EISSN: 18103057     Source Type: Journal    
DOI: 10.22495/cocv1i3p10     Document Type: Article

References (27)

1. Accountants International Study Group (AISG, 1977), Audit committees-current practices in Canada, the United Kingdom and the United States, AISG, London.
2. Beasley, M (1996), "An empirical analysis of the relation between the board of director composition and financial statement fraud", Accounting Review, 71(4), pp 443-465.
3. Blue Ribbon Committee (1999), Report and recommendations of the Blue Ribbon Committee on improving the effectiveness of corporate audit committees, NYSE.
4. Cadbury Committee (1992), Report of the committee on the financial aspects of corporate governance, GEE, London.
5. Cameron, K (1986), Effectiveness as a paradox: consensus and conflict in conceptions of organisational effectiveness", Management Science, May, pp539-53.
6. Carcello, J. and T. L. Neal (2000), "Audit committee composition and auditor reporting", Accounting Review, 75(4), pp453-67.
7. Chambers, A. D., A. J. Snook (1979), "1978 survey of audit committees in the United Kingdom: a summary of findings", WP, N. 10, City University Business School, London.
8. Collier, P (1992), Audit committees in large UK companies, ICAEW, London.
9. Collier, P (1995), Audit committees in smaller listed companies, unpublished report, ICAEW, London.
10. rdedition.
11. Collier P, and A. Gregory (1999), "Audit committee activity and agency costs", Journal of Accounting and public Policy, 18(4 & 5), pp.311-332.
12. Conyon, M. and C. Mallin (1997), "A review of compliance with Cadbury", Journal of General Management, 2, pp.24-37.
13. DeZoort, F. T., Hermanson, D.R., Archambeault, D.S., Reed, S.A. (2003), "Audit committee effectiveness: a synthesis of the empirical audit committee literature", Journal of Accounting Literature, 21, pp.38-75.
14. Ferris S. P., M. Jagannathan; A.C. Pritchard (2003), "Too busy to mind the business? Monitoring by directors with multiple board appointments", Journal of Finance, 58(3), pp.1087-1111.
15. Kalbers L.P. and T. Fogarty (1993), "Audit committee effectiveness: an empirical investigation of the contribution of power", Auditing: A Journal of Practice & Theory, 12(1): 24-49.
16. Lee T. and Stone M. (1997), "Economic agency and Audit Committee responsibilities and membership composition", International Journal of Auditing, 1(2), pp.97-116.
17. Marrian, I. F. Y. (1988), Audit Committees, ICAS, Edinburgh.
18. Menon, K and Williams J (1994), "The use of audit committees for monitoring", Journal of Accounting and Public Policy, 13, pp.121-139.
19. Peasnell K., P. Pope and S. Young. (2000). "What factors drive low accounting quality? An analysis of firms subject to adverse rulings by the financial reporting review panel", BAA annual conference, Exeter University, England.
20. Porter, B A and P J Gendall (1998), "Audit committees in private and public sector corporates in New Zealand: An empirical investigation", International Journal of Auditing, 2(1), pp49-70.
21. Smith Committee (2003), Audit committee combined code guidance, Financial Reporting Council, London.
22. Song, J. and B. Windram (2000), "Benchmarking audit committee effectiveness in financial reporting", British Accounting Association annual conference, University of Exeter, England.
23. The Combined Code (1998), LSE Ltd.
24. Tricker, R. I (1978), The independence directors: a study of the non-executive directors and the audit committees, Tolley, Croydon.
25. Turnbull Report (1999), Internal control: guidance for directors on the combined code, ICAEW, London.
26. Yermack, D. (1996), "Higher valuation of companies with a small board of directors", Journal of Financial Economics, 40, 185-213.
27. Young, S. (2000), "The increasing use of nonexecutive directors: its impact on UK board structure and governance arrangements", Journal of Business Accounting Finance & Accounting, 27(9), pp.1311-42.