The Internal Audit Process and Good Governance : Toward a Research Model

Corporate disasters in the international community such as Enron Corp. and Global Crossing as well as the collapse of major financial institutions in Jamaica like Mutual Life Insurance Company and Century National Bank, have demonstrated the importance of having well established and stringent control measures to enforce good governance practices. It is widely felt that corporate governance reviews and internal audit functions are the top two emerging activities in this domain. However, there is relatively little research in this area in Jamaica, especially the role of Internal Audit on good governance. Hence the research objective is to show that the Internal Audit function can contribute significantly to good governance practices in Jamaica. The study proposes a research model to evaluate the effectiveness of governance in the Jamaica Public Sector