A study of the audit committees' functioning in Bahrain Empirical findings

A study of the audit committees' functioning in Bahrain Empirical findings Audit committees (ACs) are a powerful tool in effective corporate governance. This study examines the functioning of ACs in Bahrain from the responses of 30 companies listed on the Bahrain stock exchange. Data were collected from questionnaires from companies and the audit firms. The study primarily focuses on the extent to which companies in Bahrain have been following the standard recommendations and guidelines provided by the blue ribbon committee (BRC). Size, type of auditors and industry type influence the establishment of ACs in Bahrain. The establishment of ACs have been slow yet, most of the companies have been following by and large BRC's recommendations. However, the concept of independent ACs is yet to be popularized in Bahrain. ACs do not report their findings to shareholders, but other functions seem to accord with the BRC's recommendations. However, some perceptions of audit firms negate the claims of the companies to comply with BRC recommendations. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Managerial Auditing Journal Emerald Publishing

A study of the audit committees' functioning in Bahrain Empirical findings

Managerial Auditing Journal, Volume 19 (7): 27 – Sep 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
0268-6902
DOI
10.1108/02686900410549394
Publisher site
See Article on Publisher Site

Abstract

Audit committees (ACs) are a powerful tool in effective corporate governance. This study examines the functioning of ACs in Bahrain from the responses of 30 companies listed on the Bahrain stock exchange. Data were collected from questionnaires from companies and the audit firms. The study primarily focuses on the extent to which companies in Bahrain have been following the standard recommendations and guidelines provided by the blue ribbon committee (BRC). Size, type of auditors and industry type influence the establishment of ACs in Bahrain. The establishment of ACs have been slow yet, most of the companies have been following by and large BRC's recommendations. However, the concept of independent ACs is yet to be popularized in Bahrain. ACs do not report their findings to shareholders, but other functions seem to accord with the BRC's recommendations. However, some perceptions of audit firms negate the claims of the companies to comply with BRC recommendations.

Journal

Managerial Auditing JournalEmerald Publishing

Published: Sep 1, 2004

Keywords: Audit committees; Bahrain; Governance; Internal control; Independent experts; Foreign trade

References

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