Relationship between Characteristics of Internal Audit Function, Internal Quality Assurance, External Quality Assurance, and Internal Audit Quality of Companies Listed on the Stock Exchange of Thailand
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Abstract
Internal audits play a crucial role in evaluating the effectiveness of risk management, internal control, and corporate governance, thereby adding value to the organization. Previous research findings have indicated variations in the quality of internal auditing. This study, among the first of its kind in Thailand, investigates the interrelationship among the characteristics of internal audit function, internal quality assurance, external quality assurance, and the quality of internal audit. Data were gathered from 126 companies listed on the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (mai), representing a response rate of 17.7%. The research outcomes reveal that the characteristics of the internal audit function directly impact internal quality assurance, external quality assurance, and internal audit quality. Also, internal quality assurance directly influences internal audit quality, while no significant relationship was found with external quality assurance. The study also highlights the indirect influence of the internal audit function's characteristics on internal audit quality through internal quality assurance. Empirical evidence from this research contributes to understanding how organizations can enhance the quality of their internal auditing. The study suggests that regulatory agencies establish criteria or guidelines for essential characteristics in internal audit functions. Audit committees should advocate for competence and allocate budgets to achieve objectives. Chief audit executives should implement internal quality assurance annually, and professional organizations should offer certificate courses in quality assurance review to ensure high-quality internal auditing and create added value for the organization.
Article Details
เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรงซึ่งกองบรรณาธิการวารสารไม่จำเป็นต้องเห็นด้วยหรือร่วมรับผิดชอบใด ๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารสภาวิชาชีพบัญชี ถือเป็นลิขสิทธิ์ของวารสารสภาวิชาชีพบัญชี หากบุคคลหรือหน่วยงานใดต้องการนำข้อมูลทั้งหมดหรือบางส่วนไปเผยแพร่ต่อหรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารสภาวิชาชีพบัญชี ก่อนเท่านั้น
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