Financial crisis and corporate governance: The role of internal audit in the Greek context

Koutoupis, Andreas; Pazarskis, Michail; Lazos, Grigorios; Ploumpis, Ioannis

doi:10.22495/cbv15i2art5

Cited by 2 publications

(1 citation statement)

References 32 publications

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“…In most of the cases, internal audit function is subordinated to the Board of Directors and therefore has a direct connection to the highest level of management. Koutoupis et al (2019) examined the relationship between internal audit, corporate governance and the audit committee in the recent financial crisis in Greece and investigated the contribution of internal audit to corporate governance structures during this period in Greece. They concluded that risk based internal audit adds value to the organization and supports senior management towards the accomplishment of the organizational goals.…”

Section: Literature Reviewmentioning

confidence: 99%

Risk based internal audit at Greek listed shipping companies of New York stock exchange

Koutoupis¹,

Kyriakogkonas²,

Ploumpis³

et al. 2020

J. Account. Taxation

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In recent years, significant changes have been made in the internal audit function, based on regulatory stipulations along with the need for improvement of internal audit services. These changes had a significant impact not only on the business itself, but also on the markets and on various stakeholders, and have led to the need to implement a methodology for conducting internal audits based on risk. Our research attempts to record the established status in the Greek shipping companies listed in the New York Stock Exchange NYSE regarding risk based internal audit, based on the perceptions of internal audit professionals. In order to succeed in that, a survey was performed among internal audit employees of various levels at Greek shipping companies listed on the NYSE. The research contains useful conclusions regarding the status of implementation of risk based internal audit methodology. Also, the research focuses on the impact of certain characteristics of internal audit like control activities using multiple regression econometric model based on the regulatory framework for internal audit as provided by the Institute of Internal Auditors. In order to succeed in that, regression analysis was executed based on the results of the aforementioned survey questionnaires. The results revealed significant relationship between risk based internal audit and some the characteristics of internal audit. The conclusion is that risk based internal audit methodology may have viable outcomes to the management of risks within the Greek listed Shipping companies.

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Section: Literature Reviewmentioning

confidence: 99%

Risk based internal audit at Greek listed shipping companies of New York stock exchange

Koutoupis¹,

Kyriakogkonas²,

Ploumpis³

et al. 2020

J. Account. Taxation

View full text Add to dashboard Cite

show abstract

An investigation of risk-based auditing (RBA) relationships from the stakeholders' perspective using PLS-SEM

Moschidis,

Drogalas,

Chatzipetrou

et al. 2024

EMJB

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PurposeThe present paper aims at the identification of the critical variables of risk-based auditing (RBA). The variables under examination are the internal audit (IA), the audit committee (AC) and the cooperation between the RBA and the stakeholders (audit committee, external auditors, internal auditors, board of directors, fraud investigators, chief risk manager) (COOP).Design/methodology/approachA questionnaire survey was conducted among 176 Greek companies. The questionnaires were addressed to accountants, internal auditors, managers, chief risk managers and the board of directors. A total of 96 questionnaires have been collected and analyzed. PLS-SEM modeling was used as a tool to test hypotheses and analyze the findings.FindingsThe results show that three variables, i.e. the internal audit, the audit committee and the RBA cooperation with stakeholders have a statistically significant and positive effect on risk-based auditing (RBA). Additionally, the existence of partial-complementary mediation of the internal audit in the audit committee-RBA interaction is confirmed.Originality/valueThis study is an original research that identifies the essential variables of risk-based auditing in Greek companies. It attempts to analyze the perceptions of all stakeholders in risk-based auditing, including the internal audit, the audit committee, etc. and is not restricted only on internal auditors. Furthermore, the analysis is conducted with PLS-SEM Modeling, which is an innovative tool of testing hypotheses and analyzing results.

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Financial crisis and corporate governance: The role of internal audit in the Greek context

Cited by 2 publications

References 32 publications

Risk based internal audit at Greek listed shipping companies of New York stock exchange

Risk based internal audit at Greek listed shipping companies of New York stock exchange

An investigation of risk-based auditing (RBA) relationships from the stakeholders' perspective using PLS-SEM

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