Business, Management and Accounting
5 years ago

Audit Committees Curb Accounting Misdeeds, but Political Influence Persists in Malaysia

Management and Accounting Review
THE RELATIONSHIP BETWEEN AUDIT COMMITTEE, POLITICAL INFLUENCE AND FINANCIAL REPORTING QUALITY: MALAYSIAN EVIDENCE
Aziatul Waznah Ghazali, Nur Aima Shafie

Paper Summary

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The study looked at how audit committees and political influence affect the quality of financial reporting in Malaysian companies. They analyzed data from over 3,000 firms from 2010 to 2014. The results showed that independent audit committees and frequent meetings help reduce earnings manipulation and accounting errors. However, the size and expertise of the audit committee didn't have a significant impact. The study also found that recent corporate governance reforms have improved financial reporting quality, although political influence still plays a role.