The corporate governance effects of audit committees

摘要: Arguments associated with the promotion of audit committees in many countries are premised on their potential for alleviating weaknesses corporate governance. This paper provides a synthesis and evaluation empirical research governance effects committees. Given recent policy recommendations several aimed at strengthening these committees, it is important to establish what evidence demonstrates about existing contribution. A framework analyzing impact described, identifying perceived which may have led adoption documented aspects function, financial reporting quality performance. It argued that there only limited mixed support claims perceptions value elements also shown most has focused factors committee existence, characteristics measures activity very little processes operation manner they influence organizational behaviour. clear no automatic relationship between structures or achievement particular effects, caution be needed over expectations greater codification around such as members' independence expertise means “correcting” past arrangements The fundamental question concerning difference make practice continues an area development. For future we suggest (i) consideration institutional contexts operate; (ii) explicit theorization operation; (iii) complementing extant methods field studies; (iv) investigation unintended (behavioural) well expected consequences