2,440
Views
1
CrossRef citations to date
0
Altmetric
ACCOUNTING, CORPORATE GOVERNANCE & BUSINESS ETHICS

Audit committee’s chairman characteristics and auditor choice: an empirical evidence from Malaysia ACE market

, & ORCID Icon
Article: 2156086 | Received 06 Nov 2022, Accepted 02 Dec 2022, Published online: 05 Jan 2023

References

  • Abbott, L. J., & Parker, S. (2000). Auditor selection and audit committee characteristics. Auditing: A Journal of Practice & Theory, 19(2), 47–26. https://doi.org/10.2308/aud.2000.19.2.47
  • Abbott, L. J., Parker, S., & Peters, G. F. (2004). Audit committee characteristics and restatements. Auditing: A Journal of Practice & Theory, 23(1), 69–87. https://doi.org/10.2308/aud.2004.23.1.69
  • Abernathy, J. L., Beyer, B., Masli, A., & Stefaniak, C. M. (2015). How the source of audit committee accounting expertise influences financial reporting timeliness. Current Issues in Auditing, 9(1), 1–9.
  • Ahmadpour, A., & Amin Hadiyan, S. (2015). Changes in the value relevance of accounting information and identifying the factors affecting the value relevance. The Iranian Accounting and Auditing Review, 22(1), 1–20.
  • Ahn, S., Jiraporn, P., & Kim, Y. S. (2010). Multiple directorships and acquirer returns. Journal of Banking & Finance, 34(9), 2011–2026. https://doi.org/10.1016/j.jbankfin.2010.01.009
  • Al‐Matari, E. M. (2021). The determinants of bank profitability of GCC: The role of bank liquidity as moderating variable—further analysis. International Journal of Finance & Economics. https://doi.org/10.1002/ijfe.2485
  • Al-Absy, M. S. M., Ismail, K. N. I. K., & Chandren, S. (2018). Accounting expertise in the audit committee and earnings management. Business & Economic Horizons, 14(3), 451–476. https://doi.org/10.15208/beh.2018.33
  • Albring, S., Robinson, D., & Robinson, M. (2014). Audit committee financial expertise, corporate governance, and the voluntary switch from auditor-provided to non-auditor-provided tax services. Advances in Accounting, 30(1), 81–94. https://doi.org/10.1016/j.adiac.2013.12.007
  • Alfraih, M. M., & Gale, C. S. (2016). The role of audit quality in firm valuation: Evidence from an emerging capital market with a joint audit requirement. International Journal of Law and Management, 58(5), 575–598. https://doi.org/10.1108/IJLMA-09-2015-0049
  • Al-Homaidi, E. A., Al-Matari, E. M., Anagreh, S., Tabash, M. I., & Senan, N. A. M. (2021). The relationship between zakat disclosures and Islamic banking performance: Evidence from Yemen. Banks and Bank Systems, 16(1), 52–61. https://doi.org/10.21511/bbs.16(1).2021.05
  • Al-Homaidi, E. A., Al-Matari, E. M., Tabash, M. I., Khaled, A. S., & Senan, N. A. M. (2021). The influence of corporate governance characteristics on profitability of Indian firms: An empirical investigation of firms listed on Bombay stock exchange. Investment Management and Financial Innovations, 18(1), 114–125. https://doi.org/10.21511/imfi.18(1).2021.10
  • Al-Matari, E. M. (2019). Do characteristics of the board of directors and top executives have an effect on corporate performance among the financial sector? Evidence using stock. Corporate Governance: The International Journal of Business in Society, 20(1), 16–43. https://doi.org/10.1108/CG-11-2018-0358
  • Al-Matari, E. M. (2022). Do corporate governance and top management team diversity have a financial impact among financial sector? A further analysis. Cogent Business & Management, 9(1), 2141093. https://doi.org/10.1080/23311975.2022.2141093
  • Al-Matari, E. M., & Alosaimi, M. H. (2022). the role of women on board of directors and firm performance: Evidence from Saudi Arabia financial market. Corporate Governance and Organizational Behavior Review, 6(3), 44–55. https://doi.org/10.22495/cgobrv6i3p4
  • Al-Matari, E. M., Al-Swidi, A. K., & Fadzil, F. H. (2014a). The effect of board of directors characteristics, audit committee characteristics and executive committee characteristics on firm performance in Oman: An empirical study. Asian Social Science, 10(11), 149–171.
  • Al-Matari, E. M., Al-Swidi, A. K., & Fadzil, F. H. B. (2014b). Audit committee characteristics and executive committee characteristics and firm performance in Oman: Empirical study. Asian Social Science, 10(12), 98.
  • Al-Matari, Y. A., Al-Swidi, A. K., Fadzil, F. H. B. H., & Al-Matari, E. M. (2012). Board of directors, audit committee characteristics and the performance of Saudi Arabia listed companies. International Review of Management and Marketing, 2(4), 241–251.
  • Al Matari, E. M., & Mgammal, M. H. (2019). The moderating effect of internal audit on the relationship between corporate governance mechanisms and corporate performance among Saudi Arabia listed companies. Contaduría y administración, 64(4), 9. https://doi.org/10.22201/fca.24488410e.2020.2316
  • Al-Matari, E. M., Mgammal, M. H., Alosaimi, M. H., Alruwaili, T. F., & Al-Bogami, S. (2022). Fintech, board of directors and corporate performance in Saudi Arabia financial sector: Empirical study. Sustainability, 14(17), 10750. https://doi.org/10.3390/su141710750
  • Al-Murisi, A. L. S. M., Ahmed, A. S., & Adon, I. (1997). Audit committees in Malaysia: patterns of establishment and characteristics.
  • Al-Sayani, Y. M., Mohamad Nor, M. N., Amran, N. A., & Ntim, C. G. (2020). The influence of audit committee characteristics on impression management in chairman statement: Evidence from Malaysia. Cogent Business & Management, 7(1), 1774250. https://doi.org/10.1080/23311975.2020.1774250
  • Amin, A., Lukviarman, N., Suhardjanto, D., & Setiany, E. (2018). Audit committee characteristics and audit-earnings quality: Empirical evidence of the company with concentrated ownership. Review of Integrative Business and Economics Research, 7, 18–33.
  • Asmuni, A., Nawawi, A., & Salin, A. (2015). Ownership structure and auditor’s ethnicity of Malaysian public listed companies. Pertanika Journal of Social Science and Humanities, 23(3), 603–622.
  • Ayadi, W. M., & Boujelbene, Y. (2015). Internal governance mechanisms and value relevance of accounting earnings: An empirical study in the French context. International Journal of Managerial and Financial Accounting, 7(1), 3–25. https://doi.org/10.1504/IJMFA.2015.067512
  • Azmi, N. A., Samat, O., Zakaria, N. B., & Yusof, M. A. M. (2013). Audit committee attributes on audit fees: The impact of Malaysian Code of Corporate Governance (MCCG) 2007. Journal of Modern Accounting and Auditing, 9(11), 1442–1453.
  • Baatwah, S. R., Ahmad, N., & Salleh, Z. (2018). Audit committee financial expertise and financial reporting timeliness in emerging market: Does audit committee chair matter?. Issues in Social and Environmental Accounting, 10(4), 63–85.
  • Baatwah, S. R., Salleh, Z., & Ahmad, N. (2015). CEO characteristics and audit report timeliness: Do CEO tenure and financial expertise matter? Managerial Auditing Journal, 30(8/9), 998–1022. https://doi.org/10.1108/MAJ-09-2014-1097
  • Bajra, U., & Čadež, S. (2018). Audit committees and financial reporting quality: The 8th EU company law directive perspective. Economic Systems, 42(1), 151–163. https://doi.org/10.1016/j.ecosys.2017.03.002
  • Beatty, R. P. (1989). Auditor reputation and the pricing of initial public offeri. The Accounting Review, 64(4), 693.
  • Bell, T. B., Causholli, M., & Knechel, W. R. (2015). Audit firm tenure, non‐audit services, and internal assessments of audit quality. Journal of Accounting Research, 53(3), 461–509. https://doi.org/10.1111/1475-679X.12078
  • Bliss, M. A., Muniandy, B., & Majid, A. (2007). CEO duality, audit committee effectiveness and audit risks: A study of the Malaysian market. Managerial Auditing Journal, 22(7), 716–728. https://doi.org/10.1108/02686900710772609
  • Bromilow, C. 2010. Congratulations, you’re the audit committee chair. Now what? Available at: http://www.directorship.com/catherine-bromilow-audit-committee-chair/
  • Carcello, J. V., & Nagy, A. L. (2004). Client size, auditor specialization and fraudulent financial reporting. Managerial Auditing Journal, 19(5), 651–668. https://doi.org/10.1108/02686900410537775
  • Carcello, J. V., & Neal, T. L. (2000). Audit committee composition and auditor reporting. The Accounting Review, 75(4), 453–467. https://doi.org/10.2308/accr.2000.75.4.453
  • Cascino, S., Pugliese, A., Mussolino, D., & Sansone, C. (2010). The influence of family ownership on the quality of accounting information. Family Business Review, 23(3), 246–265. https://doi.org/10.1177/0894486510374302
  • Chalos, P., & Haka, S. (1990). Transfer pricing under bilateral bargaining. 624–641.
  • Che Ahmad, A., Houghton, K. A., Zalina Mohamad Yusof, N., & Haniffa, R. (2006). The Malaysian market for audit services: Ethnicity, multinational companies and auditor choice. Managerial Auditing Journal, 21(7), 702–723. https://doi.org/10.1108/02686900610680503
  • Claessens, S., Djankov, S., & Lang, L. H. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1), 81–112. https://doi.org/10.1016/S0304-405X(00)00067-2
  • Clarke, T. (2004). Cycles of crisis and regulation: The enduring agency and stewardship problems of corporate governance. Corporate Governance: An International Review, 12(2), 153–161. https://doi.org/10.1111/j.1467-8683.2004.00354.x
  • Cleassens, S., Fan, J. P., Djankov, S., & Lang Larry, H. (2000). Expropriation of Minority Shareholders in East Asia. Institute of Economic Research Hitotsubashi University.
  • Collins, D. W., Maydew, E. L., & Weiss, I. S. (1997). Changes in the value-relevance of earnings and book values over the past forty years. Journal of Accounting and Economics, 24(1), 39–67. https://doi.org/10.1016/S0165-4101(97)00015-3
  • Darussamin, A. M., Ali, M. M., Ghani, E. K., & Gunardi, A. (2018). The effect of corporate governance mechanisms on level of risk disclosure: Evidence from Malaysian government linked companies. Journal of Management Information and Decision Sciences, 21(1), 1–19.
  • Davidson, R. A., & Neu, D. (1993). A note on the association between audit firm size and audit quality. Contemporary Accounting Research, 9(2), 479–488. https://doi.org/10.1111/j.1911-3846.1993.tb00893.x
  • DeAngelo, L. E. (1981). Auditor size and audit quality. Journal of Accounting and Economics, 3(3), 183–199. https://doi.org/10.1016/0165-4101(81)90002-1
  • DeFond, M., & Zhang, J. (2014). A review of archival auditing research. Journal of Accounting and Economics, 58(2), 275–326.
  • DeZoort, F. T., Hermanson, D. R., Archambeault, D. S., & Reed, S. A. (2002). Audit committee effectiveness: A synthesis of the empirical audit committee literature. Audit Committee Effectiveness: A Synthesis of the Empirical Audit Committee Literature, 21, 38.
  • DeZoort, F. T., & Salterio, S. E. (2001). The effects of corporate governance experience and financial‐reporting and audit knowledge on audit committee members' judgments. Auditing: A Journal of Practice & Theory, 20(2), 31–47.
  • Dhaliwal, D. A. N., Naiker, V. I. C., & Navissi, F. (2010). The association between accruals quality and the characteristics of accounting experts and mix of expertise on audit committees. Contemporary Accounting Research, 27(3), 787–827.
  • Di Pietra, R., Grambovas, C. A., Raonic, I., & Riccaboni, A. (2008). The effects of board size and ‘busy’directors on the market value of Italian companies. Journal of Management & Governance, 12(1), 73–91. https://doi.org/10.1007/s10997-008-9044-y
  • Duff, A. (2004). Auditqual: Dimensions of audit quality. Institute of Chartered Accountants of Scotland Edinburgh.
  • Eisenhardt, K. M. (1989). Agency theory: An assessment and review. The Academy of Management Review, 14(1), 57–74. https://doi.org/10.2307/258191
  • Endrawes, M., Feng, Z., Lu, M., & Shan, Y. (2020). Audit committee characteristics and financial statement comparability. Accounting & Finance, 60(3), 2361–2395. https://doi.org/10.1111/acfi.12354
  • Falato, A., Kadyrzhanova, D., & Lel, U. (2014). Distracted directors: Does board busyness hurt shareholder value? Journal of Financial Economics, 113(3), 404–426. https://doi.org/10.1016/j.jfineco.2014.05.005
  • Faleye, O., & Krishnan, K. (2017). Risky lending: Does bank corporate governance matter? Journal of Banking & Finance, 83, 57–69. https://doi.org/10.1016/j.jbankfin.2017.06.011
  • Fariha, R., Hossain, M. M., & Ghosh, R. (2021). Board characteristics, audit committee attributes and firm performance: Empirical evidence from emerging economy. Asian Journal of Accounting Research.
  • Fatima, H., Nafees, B., & Ahmad, N. (2018). Value relevance of reporting of accounting information and corporate governance practices: Empirical evidence from Pakistan. Paradigms, 12(1), 88–93.
  • Ferguson, A. C., Francis, J. R., & Stokes, D. J. (2006). What matters in audit pricing: Industry specialization or overall market leadership? Accounting & Finance, 46(1), 97–106. https://doi.org/10.1111/j.1467-629X.2005.00152.x
  • Fich, E. M., & Shivdasani, A. (2006). Are busy boards effective monitors? The Journal of Finance, 61(2), 689–724. https://doi.org/10.1111/j.1540-6261.2006.00852.x
  • Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A Journal of Practice & Theory, 30(2), 125–152. https://doi.org/10.2308/ajpt-50006
  • Germain, L., Galy, N., & Lee, W. (2014). Corporate governance reform in Malaysia: Board size, independence and monitoring. Journal of Economics and Business, 75, 126–162. https://doi.org/10.1016/j.jeconbus.2014.06.003
  • Ghafran, C., & Yasmin, S. (2018). Audit committee chair and financial reporting timeliness: A focus on financial, experiential and monitoring expertise. International Journal of Auditing, 22(1), 13–24.
  • Ghayoumi, A. F., Nayeri, M. D., Ansari, M., & Raeesi, T. (2011). Value Relevance of accounting information: Evidence from Iranian emerging stock exchange. World Academy of Science, Engineering and Technology, 5(6), 830–835.
  • Grange, M. L., Ackers, B., & Odendaal, E. (2021). The impact of the characteristics of audit committee members on audit committee effectiveness. Global Business and Economics Review, 24(4), 409–434. https://doi.org/10.1504/GBER.2021.115812
  • Greene, W. H. (2012). Econometric analysis (7 ed.). Pearson.
  • Guedhami, O., Pittman, J. A., & Saffar, W. (2014). Auditor choice in politically connected firms. Journal of Accounting Research, 52(1), 107–162. https://doi.org/10.1111/1475-679X.12032
  • Gujarati, D. (2003). Basic Econometrics (4th ed.). McGraw Hill.
  • Gul, F. A. (1999). Audit prices, product differentiation and economic equilibrium. Auditing: A Journal of Practice & Theory, 18(1), 90–100. https://doi.org/10.2308/aud.1999.18.1.90
  • Habib, A., & Azim, I. (2008). Corporate governance and the value-relevance of accounting information: Evidence from Australia. Accounting Research Journal, 21(2), 167–194. https://doi.org/10.1108/10309610810905944
  • Hair, J. F., Bill, B., Barry, B., & Anderson, R. E. (2006). Multivariate data analysis (6 ed.). Pearson.
  • Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis: A global perspective (7 ed.). Pearson Prentice Hall.
  • Haniffa, R., & Hudaib, M. (2006). Corporate governance structure and performance of Malaysian listed companies. Journal of Business Finance & Accounting, 33(7‐8), 1034–1062. https://doi.org/10.1111/j.1468-5957.2006.00594.x
  • Hansen, J. C., Lisic, L. L., Seidel, T. A., & Wilkins, M. S. (2019). Audit committee accounting expertise and the mitigation of strategic auditor behavior. SSRN 3377737.
  • Hashim, H. A., & Devi, S. (2008). Board characteristics, ownership structure and earnings quality: Malaysian evidence. Research in Accounting in Emerging Economies, 8(97), 97–123.
  • Hashim, H. A., & Rahman, M. S. A. (2011). Multiple board appointments: Are directors effective? International Journal of Business and Social Science, 2(17).
  • Hay, D. (2013). Further evidence from meta‐analysis of audit fee research. International Journal of Auditing, 17(2), 162–176. https://doi.org/10.1111/j.1099-1123.2012.00462.x
  • Hayes, R. M. (2014). Discussion of “Audit committee financial expertise and earnings management: The role of status” by Badolato, Donelson, and Ege (2014). Journal of Accounting and Economics, 58(2–3), 231–239. https://doi.org/10.1016/j.jacceco.2014.08.005
  • Hayn, C. (1995). The information content of losses. Journal of Accounting and Economics, 20(2), 125–153. https://doi.org/10.1016/0165-4101(95)00397-2
  • He, X., Pittman, J. A., Rui, O. M., & Wu, D. (2017). Do social ties between external auditors and audit committee members affect audit quality? The Accounting Review, 92(5), 61–87. https://doi.org/10.2308/accr-51696
  • He, L., & Yang, R. (2014). Does industry regulation matter? New evidence on audit committees and earnings management. Journal of Business Ethics, 123(4), 573–589.
  • Hodgson, A., & Stevenson-Clarke, P. (2000). Accounting variables and stock returns: The impact of leverage. Pacific Accounting Review, 12(2), 37–64. https://doi.org/10.1108/eb037952
  • Hope, O.-K., Kang, T., Thomas, W., & Yoo, Y. K. (2008). Culture and auditor choice: A test of the secrecy hypothesis. Journal of Accounting and Public Policy, 27(5), 357–373. https://doi.org/10.1016/j.jaccpubpol.2008.07.003
  • Hsu, W.-Y., Troy, C., & Huang, Y. R. (2015). The determinants of auditor choice and audit pricing among property-liability insurers. Journal of Accounting and Public Policy, 34(1), 95–124. https://doi.org/10.1016/j.jaccpubpol.2014.09.001
  • Husnin, A. I., Nawawi, A., Puteh Salin, A. S. A., Zhou, H., & Zhou, H. (2016). Corporate governance and auditor quality–Malaysian evidence. Asian Review of Accounting, 24(2), 202–230. https://doi.org/10.1108/ARA-11-2013-0072
  • Inaam, Z., & Khamoussi, H. (2016). Audit committee effectiveness, audit quality and earnings management: A meta-analysis. International Journal of Law and Management, 58(2), 179–196. https://doi.org/10.1108/IJLMA-01-2015-0006
  • Jackling, B., & Johl, S. (2009). Board structure and firm performance: Evidence from India’s top companies. Corporate Governance: An International Review, 17(4), 492–509. https://doi.org/10.1111/j.1467-8683.2009.00760.x
  • Jensen, M. C. (1994). Self‐interest, altruism, incentives, and agency theory. Journal of Applied Corporate Finance, 7(2), 40–45. https://doi.org/10.1111/j.1745-6622.1994.tb00404.x
  • Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
  • Jianu, I., Jianu, I., Ileanu, B. V., Nedelcu, M. V., & Herteliu, C. (2014). The value relevance of financial reporting in Romania. Economic Computation and Economic Cybernetics Studies and Research, 48(4), 159–174.
  • Jiraporn, P., Singh, M., & Lee, C. I. (2009). Ineffective corporate governance: Director busyness and board committee memberships. Journal of Banking & Finance, 33(5), 819–828. https://doi.org/10.1016/j.jbankfin.2008.09.020
  • Johl, S., Subramaniam, N., & Zain, M. M. (2012). Audit committee and CEO ethnicity and audit fees: Some Malaysian evidence. The International Journal of Accounting, 47(3), 302–332. https://doi.org/10.1016/j.intacc.2012.07.002
  • Johnson, S., Boone, P., Breach, A., & Friedman, E. (2000). Corporate governance in the Asian financial crisis. Journal of Financial Economics, 58(1), 141–186. https://doi.org/10.1016/S0304-405X(00)00069-6
  • Kamardin, H., & Haron, H. (2011). Internal corporate governance and board performance in monitoring roles: Evidence from Malaysia. Journal of Financial Reporting and Accounting, 9(2), 119–140. https://doi.org/10.1108/19852511111173095
  • Kane, G. D., & Velury, U. (2004). The role of institutional ownership in the market for auditing services: An empirical investigation. Journal of Business Research, 57(9), 976–983. https://doi.org/10.1016/S0148-2963(02)00499-X
  • Kirui, E. K. (2022). Effect of audit committee characteristics on audit effectiveness in the county government of Kericho, Kenya [ Doctoral dissertation], university of kabianga).
  • Knechel, W. R., Niemi, L., & Sundgren, S. (2008). Determinants of auditor choice: Evidence from a small client market. International Journal of Auditing, 12(1), 65–88. https://doi.org/10.1111/j.1099-1123.2008.00370.x
  • Krishnan, G. V., & Visvanathan, G. (2008). Was Arthur Andersen different? Further evidence on earnings management by clients of Arthur Andersen. International Journal of Disclosure and Governance, 5(1), 36–47.
  • Kusnadi, Y., Leong, K. S., Suwardy, T., & Wang, J. (2016). Audit committees and financial reporting quality in Singapore. Journal of Business Ethics, 139(1), 197–214. https://doi.org/10.1007/s10551-015-2679-0
  • Lai, K. M., Srinidhi, B., Gul, F. A., & Tsui, J. S. (2017). Board gender diversity, auditor fees, and auditor choice. Contemporary Accounting Research, 34(3), 1681–1714. https://doi.org/10.1111/1911-3846.12313
  • La Porta, R., Lopez-de-silanes, F., Shleifer, A., & Vishny, R. (2000). Investor protection and corporate governance. Journal of Financial Economics, 58(1), 3–27. https://doi.org/10.1016/S0304-405X(00)00065-9
  • Latif, R. A., Kamardin, H., Mohd, K. N. T., & Adam, N. C. (2013). Multiple directorships, board characteristics and firm performance in Malaysia. Management, 3(2), 105–111.
  • Lee, T., & Azham, M. A. (2008). The audit expectation gap: A review of the contributing factors. Journal of Modern Accounting and Auditing, 4(8), 39.
  • Lei, A. C., & Lam, S. W. (2013). Family ownership, auditor choice and audit fees: Evidence from Hong Kong. Paper presented at the Seventh Asia Pacific Interdisciplinary Research in Accounting Conference in Kobe, Japan on.
  • Lin, Z. J., & Liu, M. (2009). The impact of corporate governance on auditor choice: Evidence from China. Journal of International Accounting, Auditing and Taxation, 18(1), 44–59. https://doi.org/10.1016/j.intaccaudtax.2008.12.005
  • Lisic, L. L., Myers, L. A., Seidel, T. A., & Zhou, J. (2019). Does audit committee accounting expertise help to promote audit quality? Evidence from auditor reporting of internal control weaknesses. Contemporary Accounting Research.
  • Loderer, C., & Peyer, U. (2002). Board overlap, seat accumulation and share prices. European Financial Management, 8(2), 165–192. https://doi.org/10.1111/1468-036X.00183
  • Magang, T. I. T. (2012). Culture and corporate governance in South Africa. University of Bradford.
  • Martinez, I. (2003). The impact of firm-specific attributes on the relevance in earnings and cash-flows: A nonlinear relationship between stock returns and accounting numbers. Review of Accounting and Finance, 2(1), 16–39. https://doi.org/10.1108/eb026999
  • Menon, K., & Williams, D. D. (1991). Auditor credibility and initial public offerings. Accounting Review, 313–332.
  • Menon, K., & Williams, J. D. (1994). The use of audit committees for monitoring. Journal of Accounting and Public Policy, 13(2), 121–139. https://doi.org/10.1016/0278-4254(94)90016-7
  • Morck, R., Shleifer, A., & Vishny, R. W. (1988). Management ownership and market valuation: An empirical analysis. Journal of Financial Economics, 20, 293–315. https://doi.org/10.1016/0304-405X(88)90048-7
  • Mustafa, S. T., & Ben Youssef, N. (2010). Audit committee financial expertise and misappropriation of assets. Managerial Auditing Journal, 25(3), 208–225. https://doi.org/10.1108/02686901011026323
  • Nayeri, M. D., Ghayoumi, A. F., & Bidari, M. A. (2012). Factors affecting the value relevance of accounting information. International Journal of Academic Research in Accounting, Finance and Management Sciences, 2(2), 76–84.
  • Nazatul Faiza Syed Mustapha Nazri, S., Smith, M., & Ismail, Z. (2012). The impact of ethnicity on auditor choice: Malaysian evidence. Asian Review of Accounting, 20(3), 198–221. https://doi.org/10.1108/13217341211263265
  • O’brien, R. M. (2007). A caution regarding rules of thumb for variance inflation factors. Quality & Quantity, 41(5), 673–690. https://doi.org/10.1007/s11135-006-9018-6
  • Olowookere, J. K., & Inneh, G. E. (2016). Determinants of external auditors choice in Nigerian quoted manufacturing companies. Kuwait Chapter of Arabian Journal of Business and Management Review, 33(2651), 1–13.
  • Omar, N., Johari, Z. A., & Hasnan, S. (2015). Corporate culture and the occurrence of financial statement fraud: A review of literature. Procedia Economics and Finance, 31, 367–372. https://doi.org/10.1016/S2212-5671(15)01211-3
  • Onyabe, J. M., Okpanachi, J., Nyor, T., Yahaya, O. A., & Ahmed, M. (2018). Effect of audit committee tenure on financial reporting quality of listed deposit money banks in Nigeria. European Scientific Journal, 14(4).
  • Othman, R., Ishak, I. F., Arif, S. M. M., & Aris, N. A. (2014). Influence of audit committee characteristics on voluntary ethics disclosure. Procedia-Social and Behavioral Sciences, 145, 330–342. https://doi.org/10.1016/j.sbspro.2014.06.042
  • Owens-Jackson, L. A., Robinson, D., & Waller Shelton, S. (2009). The association between audit committee characteristics, the contracting process and fraudulent financial reporting. American Journal of Business, 24(1), 57–66. https://doi.org/10.1108/19355181200900005
  • Palmrose, Z.-V. (1986). Audit fees and auditor size: Further evidence. Journal of Accounting Research, 24(1), 97–110. https://doi.org/10.2307/2490806
  • Payne, G. T., Benson, G. S., & Finegold, D. L. (2009). Corporate board attributes, team effectiveness and financial performance. Journal of Management Studies, 46(4), 704–731. https://doi.org/10.1111/j.1467-6486.2008.00819.x
  • Pozzoli, M., Pagani, A., & Paolone, F. (2022). The impact of audit committee characteristics on ESG performance in the European Union member states: Empirical evidence before and during the COVID-19 pandemic. Journal of Cleaner Production, 371, 133411. https://doi.org/10.1016/j.jclepro.2022.133411
  • Quick, R., Schenk, N., Schmidt, F., & Towara, T. (2018). The impact of corporate governance on auditor choice: Evidence from Germany. Journal of Management and Governance, 22(2), 251–283. https://doi.org/10.1007/s10997-017-9386-4
  • Rochmah Ika, S., Mohd Ghazali, N. A., & Dellaportas, S. (2012). Audit committee effectiveness and timeliness of reporting: Indonesian evidence. Managerial Auditing Journal, 27(4), 403–424. https://doi.org/10.1108/02686901211217996
  • Salleh, Z., Baatwah, S. R., & Ahmad, N. (2017). Audit Committee Financial Expertise and Audit Report Lag: Malaysia Further Insight. Asian Journal of Accounting & Governance, 8.
  • Salleh, Z., Stewart, J., & Manson, S. (2006). In the impact of board composition and ethnicity on audit quality: Evidence from Malaysian companies. Management & Accounting Review (MAR), 5(2), 61–83.
  • Schmidt, J., & Wilkins, M. S. (2012). Bringing darkness to light: The influence of auditor quality and audit committee expertise on the timeliness of financial statement restatement disclosures. Auditing: A Journal of Practice & Theory, 32(1), 221–244. https://doi.org/10.2308/ajpt-50307
  • Schmidt, J., & Wilkins, M. S. (2013). Bringing darkness to light: The influence of auditor quality and audit committee expertise on the timeliness of financial statement restatement disclosures. Auditing: A Journal of Practice & Theory, 32(1), 221–244.
  • Sendut, H. (1991). Managing in a multicultural society: The Malaysian experience. Malaysian Management Review, 26(1), 61–69.
  • Shafie, R., & Zainal, N. M. (2016). Audit committee Independence, financial expertise and financial restatements. Paper presented at the 3rd international conference on accounting studies.
  • Sharma, V. D., & Iselin, E. R. (2012). The association between audit committee multiple-directorships, tenure, and financial misstatements. Auditing: A Journal of Practice & Theory, 31(3), 149–175. https://doi.org/10.2308/ajpt-10290
  • Sharma, V., Naiker, V., & Lee, B. (2009). Determinants of audit committee meeting frequency: Evidence from a voluntary governance system. Accounting Horizons, 23(3), 245–263.
  • Shivdasani, A., & Yermack, D. (1999). CEO involvement in the selection of new board members: An empirical analysis. The Journal of Finance, 54(5), 1829–1853. https://doi.org/10.1111/0022-1082.00168
  • Shleifer, A., & Vishny, R. W. (1997). A survey of corporate governance. The Journal of Finance, 52(2), 737–783. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
  • Shockley, R. A. (1981). Perceptions of auditors’ Independence: An empirical analysis. Accounting Review, 785–800.
  • Spira, L. F. (1999). Ceremonies of governance: Perspectives on the role of the audit committee. Journal of Management and Governance, 3(3), 231–260. https://doi.org/10.1023/A:1009926203363
  • The Star. (2011). A number of firms have accounts qualified. https://www.thestar.com.my/business/business-news/2011/05/04/a-number-of-firms-have-accounts-qualified
  • Sultana, N., Singh, H., & Van der Zahn, J. L. M. (2015). Audit committee characteristics and audit report lag. International Journal of Auditing, 19(2), 72–87. https://doi.org/10.1111/ijau.12033
  • Sun, J., Lan, G., & Liu, G. (2014). Independent audit committee characteristics and real earnings management. Managerial Auditing Journal, 29(2), 153–172. https://doi.org/10.1108/MAJ-05-2013-0865
  • Suryanto, T., Thalassinos, E., & Thalassinos, I. (2017). Board characteristics, audit committee and audit quality: The case of Indonesia. International Journal of Economics & Business Administration, 5(3), 47–57.
  • Sutton, S. G., & Hampton, C. (2003). Risk assessment in an extended enterprise environment: Redefining the audit model. International Journal of Accounting Information Systems, 4(1), 57–73.
  • Tanyi, P. N., & Smith, D. B. (2014). Busyness, expertise, and financial reporting quality of audit committee chairs and financial experts. Auditing: A Journal of Practice & Theory, 34(2), 59–89. https://doi.org/10.2308/ajpt-50929
  • Tee, C. M., & Rassiah, P. (2019). Ethnic board diversity, earnings quality and institutional investors: Evidence from Malaysian corporate boards. Accounting & Finance.
  • Thoopsamut, W., & Jaikengkit, A. O. (2009). Audit committee characteristics, audit firm size and quarterly earnings management in Thailand. In Emerging Issues and Challenges in Business & Economics: Selected Contributions from the 8th Global Conference (Vol. 24, pp. 47–70). Firenze University Press.
  • Vafeas, N., & Waegelein, J. F. (2007). The association between audit committees, compensation incentives, and corporate audit fees. Review of Quantitative Finance and Accounting, 28(3), 241–255. https://doi.org/10.1007/s11156-006-0012-9
  • Wallace, W. (1980). The economic role of the audit in free and regulated markets.
  • Wallace, W. A. (1984). Enhancing your relationship with internal auditors. The CPA Journal, 54(000012), 47.
  • Wang, Q., Wong, T.-J., & Xia, L. (2008). State ownership, the institutional environment, and auditor choice: Evidence from China. Journal of Accounting and Economics, 46(1), 112–134. https://doi.org/10.1016/j.jacceco.2008.04.001
  • Wan Mohammad, W. M., Wasiuzzaman, S., Morsali, S. S., & Zaini, R. M. (2018). The effect of audit committee characteristics on financial restatements in Malaysia. Journal of Asia-Pacific Business, 19(1), 4–22. https://doi.org/10.1080/10599231.2018.1419043
  • Watts, R. L., & Zimmerman, J. L. (1983). Agency problems, auditing, and the theory of the firm: Some evidence. The Journal of Law & Economics, 26(3), 613–633. https://doi.org/10.1086/467051
  • Watts, R. L., & Zimmerman, J. L. (1986). Positive accounting theory.
  • Xie, B., Davidson, W. N., III, & DaDalt, P. J. (2003). Earnings management and corporate governance: The role of the board and the audit committee. Journal of Corporate Finance, 9(3), 295–316. https://doi.org/10.1016/S0929-1199(02)00006-8
  • Yardley, J. A., Kauffman, N. L., Cairney, T. D., & Albrecht, W. D. (1992). Supplier behavior in the US audit market. Journal of Accounting Literature, 11, 151.
  • Yasin, F. M., & Nelson, S. P. (2012). Audit committee and internal audit: Implications on audit quality. International Journal of Economics, Management and Accounting, 20(2), 187.
  • Yatim, P., Kent, P., Clarkson, P., & Haniffa, R. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757–782. https://doi.org/10.1108/02686900610680530
  • Yokoyama, K. Y., Baioco, V. G., Sobrinho, W. B. R., & Neto, A. S. (2015). The influence of company size on accountingInformation: Evidence in large caps and small caps companies listed on BM & FBovespa. Journal of Education and Research in Accounting, 9(3), 302–319.
  • Yoshihara, S. (1998). Recruitment Guide for Thailand. Institute of International Education/Southeast Asia, Citibank Tower, 9th Floor, 82 North Sathorn Road.
  • Yosra, M. N. I. F., & Tahari, M. (2022). Audit committee characteristics and compliance by Islamic banks with AAOIFI accounting standards. Advances in Accounting, 57, 100596. https://doi.org/10.1016/j.adiac.2022.100596
  • Zhuang, J. (1999). Corporate governance in East Asia and some policy implications. https://think-asia.org/handle/11540/2617