• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
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HOME > Archive > 2017 > Volume 5 Number 7 (Jul. 2017) >
JOEBM 2017 Vol.5(7): 261-265 ISSN: 2301-3567
DOI: 10.18178/joebm.2017.5.7.523

Audit Committee Adoption and Effectiveness on Internal Control Weaknesses

Jo-Lan Liu, Ching-Chieh Tsai, Jhih-Siang Su, and Yi-Ping Huang

Abstract— This study applies Heckman two-stage approach to investigate whether the adoption of an audit committee and its effectiveness could mitigate the incidence of internal control weaknesses (hereafter ICWs) for firms listed in Taiwan. The empirical results reveal that the incidence of ICW problems could be depressed by adopting the audit committee voluntarily. The findings also show that effective audit committees result in greater depression

Index Terms— Audit committee, audit committee effectiveness, internal control weaknesses, Heckman two-stage approach.

Jo-Lan Liu, Ching-Chieh Tsai, Jhih-Siang Su, and Yi-ping Huang are with the Accounting Information Department, National Taichung University of Science and Technology, Taichung, Taiwan (e-mail: lrl@nutc.edu.tw, tcc57@nutc.edu.tw, s1810402001@nutc.edu.tw, a0963124597@gmail.com).

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Cite: Jo-Lan Liu, Ching-Chieh Tsai, Jhih-Siang Su, and Yi-Ping Huang, " Audit Committee Adoption and Effectiveness on Internal Control Weaknesses," Journal of Economics, Business and Management vol. 5, no. 7, pp. 261-265, 2017.

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