The Commitment of Audit Committees to Their Tasks and Failure from the View of Managers of Internal Audit Departments in Public Shareholding Companies in Jordan

Abstract

This study aimed to identify the extent of the commitment of audit committees in public shareholding companies in Jordan doing their tasks, in addition to their failure in the performance of those tasks, from the view of managers of internal audit departments as they are employees inside the company, so they are aware of all circumstances and tasks of audit committees. To achieve the objectives of the study, the two researchers designed a questionnaire which was distributed to managers, one for each company. The volume of the sample reached (135) companies, and the number of returned questionnaires was (96) questionnaires, at which (88) questionnaires were used for the purposes of analysis.

The study found that audit committees are committed to do their tasks which are related to the financial statements moderately, and their tasks which are highly related to the activities of internal audit, which came as a reflection of the confidence in audit committees by the departments of internal audit, emphasizing the weak role for some of the tasks of these committees such as the appointment of the external auditor and determine his fees.

Keywords: audit committees, internal audit departments.