Discusses the BCCI scandal, with particular reference to the part played by auditors Price Waterhouse. Declares the IIA Position Paper on Whistleblowing to be inadequate and urges reform of corporate governance: the selection and training of non‐executive directors must be improved and their...

Proposes a new model for fraud detection that goes beyond internal accounting controls. Historically, internal and external auditors focus on internal controls and management integrity as the key components to determine the propensity for irregularities. This new paradigm focuses on gaining an...

Practising internal and external auditors regularly find that crucial concepts governing how they operate are the twin terms of independence and objectivity. Part of the problem is that the two terms are often equated. The impact can be conflict with the auditee, misunderstanding with other...

Market regulators, commissions and accountancy bodies have recommended the establishment of audit committees as an important step in improving corporate governance. In 2002, the Kenya Capital Markets Authority required all listed companies to establish audit committees. This study examined: 1)...

Corporate governance is a set of functional processes and structures established by the leadership of the organization in order to inform, direct and monitor lead activities in order to achieve predetermined objectives. Efficient and effective corporate governance involves goals, long-term...

The purpose of this paper is to develop a synthesis of the main arguments that could justify the necessity of audit trinity’s approach (internal audit, external audit, audit committee) in assuring good corporate governance. The aim of the paper is also to synthesize relevant theoretical and...

Discusses the role of internal audit in the socialist market economy, the need for supervision of enterprises through internal audit and the way in which various stakeholders benefit. Makes a case for why internal audit uniquely fulfils the supervisory role and should not be substituted by...