Corporate governance, internal audit quality and financial reporting quality of financial institutions
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Date
2021
Journal Title
Journal ISSN
Volume Title
Publisher
Asian Journal of Accounting Research
Abstract
The purpose of this study is to establish the relationship between corporate governance attributes
(board expertise, board independence and board role performance), internal audit quality and financial
reporting quality using evidence from Uganda’s financial institutions.
Design/methodology/approach – This study research design is cross sectional and correlational. The study
used a questionnaire survey of Chief Finance Officers, Senior Accountants and Internal audit managers of
financial institutions in Uganda. Data were analyzed with the help of Statistical Package for Social Sciences.
Findings – Results indicate that board expertise and board role performance are significantly associated with
financial reporting quality. Also, internal audit quality is significantly associated with financial reporting
quality. Board independence is not a significant predictor of financial reporting quality.
Originality/value – This paper provides insights of what matters for financial reporting quality in Uganda’s
financial reporting quality. It uses the qualitative characteristics of financial statements to measure financial
reporting quality. This paper focuses mainly on the conceptual framework developed by the International
Accounting Standards Board.
Description
Keywords
Corporate governance, Internal audit quality, Financial reporting quality, Uganda
Citation
Kaawaase, T. K., Nairuba, C., Akankunda, B., & Bananuka, J. (2021). Corporate governance, internal audit quality and financial reporting quality of financial institutions. Asian Journal of Accounting Research. DOI 10.1108/AJAR-11-2020-0117