Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007

Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007

Global economic crisis in 2008 has increased the focus on the role of audit committee in ensuring integrity and transparency in corporate reporting. Audit committee characteristics are crucial in determining the ability of audit committee in carrying out its responsibilities effectively. Hence, this...

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Main Author: Madi, Hisham K. M
Format: Thesis
Language:eng
eng
Published: 2012
Subjects:
HF5667 Professional Ethics
Auditors.
Online Access:https://etd.uum.edu.my/3491/1/s90643.pdf
https://etd.uum.edu.my/3491/8/s90643.pdf
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institution Universiti Utara Malaysia
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language eng
eng
topic HF5667 Professional Ethics
Auditors.
spellingShingle HF5667 Professional Ethics
Auditors.
Madi, Hisham K. M
Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
description Global economic crisis in 2008 has increased the focus on the role of audit committee in ensuring integrity and transparency in corporate reporting. Audit committee characteristics are crucial in determining the ability of audit committee in carrying out its responsibilities effectively. Hence, this study aims to investigate the contribution of audit committee characteristics to audit committee effectiveness over corporate voluntary disclosure by Malaysian listed firms. This study also examines the effect of board of directors’ characteristics on the level of voluntary disclosure. In addition, this study investigates the moderating effect of corporate board governance and concentrated ownership with audit committee effectiveness and corporate voluntary disclosure. Based on annual reports of 2006 and 2009, the study used 292 firms listed on Bursa Malaysia. The empirical results reveal that higher proportion of independent directors on audit committee, and totally independent audit committee members can lead to significantly a higher level of voluntary disclosure. Further, members with accounting expertise and multiple directorships, and also the size of audit committee are significantly associated with corporate voluntary disclosure. Surprisingly, results on board of directors indicate that none of the board attributes appear to determine corporate voluntary disclosure. The results further reveal that neither board governance nor concentrated ownership moderate the association between audit committee effectiveness and the level of voluntary disclosure. The findings of this study show that audit committee characteristics enhance the effectiveness of audit committee as a monitoring role, and hence mitigating the agency problems associated with corporate disclosure practices. Policy makers and regulatory bodies should interpret this evidence as motivation for them to strengthen corporate boards’ practices to effectively deal with the unique features of corporate governance in emerging economies such as Malaysia.
format Thesis
qualification_name Ph.D.
qualification_level Doctorate
author Madi, Hisham K. M
author_facet Madi, Hisham K. M
author_sort Madi, Hisham K. M
title Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
title_short Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
title_full Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
title_fullStr Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
title_full_unstemmed Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007
title_sort audit committee effectiveness and voluntary disclosure in malaysia: pre and post introduction of the revisd malaysian code on corporate governance 2007
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2012
url https://etd.uum.edu.my/3491/1/s90643.pdf
https://etd.uum.edu.my/3491/8/s90643.pdf
_version_ 1747827585220345856
spelling my-uum-etd.34912016-04-20T00:27:40Z Audit Committee Effectiveness and Voluntary Disclosure in Malaysia: PRE and Post Introduction of the Revisd Malaysian Code on Corporate Governance 2007 2012-10 Madi, Hisham K. M Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HF5667 Professional Ethics. Auditors. Global economic crisis in 2008 has increased the focus on the role of audit committee in ensuring integrity and transparency in corporate reporting. Audit committee characteristics are crucial in determining the ability of audit committee in carrying out its responsibilities effectively. Hence, this study aims to investigate the contribution of audit committee characteristics to audit committee effectiveness over corporate voluntary disclosure by Malaysian listed firms. This study also examines the effect of board of directors’ characteristics on the level of voluntary disclosure. In addition, this study investigates the moderating effect of corporate board governance and concentrated ownership with audit committee effectiveness and corporate voluntary disclosure. Based on annual reports of 2006 and 2009, the study used 292 firms listed on Bursa Malaysia. The empirical results reveal that higher proportion of independent directors on audit committee, and totally independent audit committee members can lead to significantly a higher level of voluntary disclosure. Further, members with accounting expertise and multiple directorships, and also the size of audit committee are significantly associated with corporate voluntary disclosure. Surprisingly, results on board of directors indicate that none of the board attributes appear to determine corporate voluntary disclosure. The results further reveal that neither board governance nor concentrated ownership moderate the association between audit committee effectiveness and the level of voluntary disclosure. The findings of this study show that audit committee characteristics enhance the effectiveness of audit committee as a monitoring role, and hence mitigating the agency problems associated with corporate disclosure practices. Policy makers and regulatory bodies should interpret this evidence as motivation for them to strengthen corporate boards’ practices to effectively deal with the unique features of corporate governance in emerging economies such as Malaysia. 2012-10 Thesis https://etd.uum.edu.my/3491/ https://etd.uum.edu.my/3491/1/s90643.pdf text eng validuser https://etd.uum.edu.my/3491/8/s90643.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abbott, L., Parker, S., & Peters, G. (2002). Audit committee characteristics and financial misstatement: A study of the efficacy of certain blue ribbon committee recommendations. Working Paper, University of Memphis. Abbott, L. J., Park, Y., & Parker, S. (2000). 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