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VOL. 4, ISSUE 10 (2017)
Constitution of audit committees in Indian body corporates-an empirical study
Authors
Dhrubajyoti Borah
Abstract
Corporate governance mechanism is one of the
most significant developments of the last quarter century. As a means of good
governance there is a subject of considerable consideration is Audit Committee.
Following their widespread promotion by the professional bodies and accounting
firms, Audit Committees are now a statutory requirement or recommended best
practice in many countries. The incidence of corporate failures involving
fraud, poor accounting, inadequate internal control and the most talked audit
expectations gap in auditing practices require the adoption and introduction of
Audit Committees as an effective means of corporate governance and open a
potential area for in-depth research in this field. Despite the development of
a large number of literatures on Audit Committee, understanding of their degree
of values has been substantially limited in India due to the limited study in
Indian scenario. Knowing these facts, the present researcher seeks to explore
whether the constitution of audit committees in Indian companies is call of the
hour. It is not the intention to develop an all-embracing theoretical
framework, bit to draw attention to its requirement. The paper reports the
results of a questionnaire survey to ascertain the perception of different
individuals in this regard.
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Pages:161-167
How to cite this article:
Dhrubajyoti Borah "Constitution of audit committees in Indian body corporates-an empirical study". International Journal of Multidisciplinary Research and Development, Vol 4, Issue 10, 2017, Pages 161-167
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