Purpose The purpose of this paper is to investigate whether there is any relationship between the effectiveness of an audit committee and the financial reporting timeliness of Tunisian listed companies as proxied by external audit delay (AD). Analysis focuses on five audit committee characteristics: authority, financial expertise, independence, size and diligence. Design/methodology/approach Empirical tests address 162 firm-year observations drawn from Tunisian listed companies during 2011-2013. Findings Multivariate analyses indicate that audit committees with members who have financial expertise are significantly associated with shorter AD. Thus, the results suggest that audit committee financial expertise contributes to the improvement of financial statements’ timeliness. Research limitations/implications The audit committee attributes examined in this study were based on DeZoort et al. (2002) framework. There could be other aspects of audit committee effectiveness such as audit committee tenure and audit committee chair characteristics, which were not addressed in the present study. Thus, future research may consider and examine these other components of audit committee effectiveness. Practical implications Findings have managerial implications. Companies can re-look into how to further improve audit committee composition in order to enhance the timeliness of financial reporting. The issues of audit committee effectiveness and timely reporting also affect regulators and policy makers since they need to play a role in the establishment of effective audit committees and the improvement of financial reporting timeliness. Originality/value This study is one of few that have examined the impact of audit committee effectiveness on ADs in an emerging market country. Findings lend credence to the belief that audit committee members’ financial expertise enhances the quality of financial reporting by firms in a North African market criticized for the lack of maturity of its corporate governance system (Klibi, 2015; Fitch Ratings, 2009).

Purpose This paper aims to investigate the association between internal audit function (IAF) characteristics and internal control quality. Design/methodology/approach Using data gathered from 59 chief audit executives from Tunisian listed companies, this paper uses a regression model to examine research hypothesis related to the association between IAF characteristics and internal control quality. Findings The findings of the current study reveal that internal control quality is significantly and positively associated with IAF competence, internal audit quality control assurance level, follow-up process and audit committee’s involvement in reviewing the internal audit program and results. Practical implications The findings have significant implications for IAF wishing to enhance their effectiveness, by recognizing the impact of the IAF’s characteristics on internal control quality. The findings of this study also have significant implications for regulatory bodies who are concerned with the internal control quality, managers and audit committees who determine IAF investment, oversight IAF activities and assess internal auditors’ performance. Originality/value This study helps fill a gap in the extant literature where existing empirical evidence of how the IAF characteristics influences the quality of the financial reporting process in emerging markets is scant.

Purpose -The aim of this article is to examine perceptions and expectations of two major stakeholders: students and employers of the importance of skills and attributes for securing entry-level employment in accounting.Design/methodology/approach -The authors conduct an empirical study using a list of 78 items, starting by comparing employers' expectations with students' perceptions concerning the set of technical and non technical skills required from accounting graduates to pursue a career in the accounting profession This study involving data collection from 81 accounting students in five business schools in Tunisia and 48 practitioners.Findings -Findings indicate that employers are seeking graduates who possess a diverse range of non-technical skills. However, accounting students perceive that it is rather technical skills which determine their abilities to pursue a career in the accounting profession.Practical implications -The paper's findings are of interest to several different parties, primarily the professional accounting body, universities and students.Originality/value -The paper describes an empirical study, conducted on a developing country, which provides a better understanding of new skills expected for future accountants in this changing business environment. The paper constitutes also a meaningful contribution to the accounting education literature, as it examines an interesting subject that has not yet been investigated in the Tunisian context.

Purpose The purpose of this paper is to analyze the perception held by attendees about the role and the effectiveness of their audit committees. Design/methodology/approach The investigation was conducted via a qualitative methodology through the content analysis of interviews conducted with 33 attendees of audit committee meetings of Tunisian listed companies. Findings The findings reveal that audit committees do not have the means to achieve the objectives that they have been given by the legal texts, which are likely to characterize their work as “ceremonial” or “symbolic.” This paper also found that the most significant effects of the audit committee chair’s role come through informal meetings and conversations. Practical implications The paper’s findings have policy implications for regulators. Findings from this research may allow regulators to assess whether the audit committee activities in Tunisian companies meet their expectations. Originality/value This paper tries to fill a gap in the extant literature and provides meaningful information on activities performed by audit committees and the extent to which they are perceived effective in the eyes of attendees of audit-committee meetings. This study is one of the few field investigations that have analyzed audit committees’ effectiveness in emerging markets through interviews with attendees involved in audit-committee processes.