Impact of Audit Committee Quality on the Financial Performance of the Iraqi Banking Sector
Journal Title: Journal of Economics, Finance and Management Studies - Year 2024, Vol 7, Issue 06
Abstract
Purpose: The purpose of this study is to examine the impact of Audit Committee Quality on Financial Performance in the Iraqi Banking Sector to improve Financial Performance. The agency theory serves as the study’s theoretical underpinning. Design/methodology/approach: The major research design was a quantitative method employing Structural Equation Modelling (SEM). SmartPLS3 was utilized to examine data from a set of respondents who were chosen using a purpose random sampling technique which included the CEO, CFO, accountants, and auditors. The survey questionnaire was disseminated to 386 people, and the collected data were evaluated using a measurement model. Findings: According to the findings, the Audit Committee Components have a considerable impact on financial performance. The relationships were found to be positive and significant whereby Expertise (β =7.422, p0.05), Independence (β =4.549, p 0.05), Size (β=3.736, p0.05), and Meetings (β=3.064, p0.05). The Audit Committee component of Expertise was found to have the most significant impact on financial performance. Research, Practical & Social implications: Implications-wise, this study indicates the need for Iraqi banks to improve the quality of their audit committees towards enhancing their financial performance, also Central Bank should work side by side with Iraqi universities to continue research on the role of Audit Committees. Originality/value: This study provides an overview of the impact of the quality of the audit committee on financial performance and the extent of its importance in the Iraqi banking sector to reduce cases of manipulation and errors in the financial statements of banks. The study recommends the use of independent audit committees to improve financial performance in the Iraqi liquidation sector.
Authors and Affiliations
Abdulhadi Salman Salih Al-Husseini
Keywords
Related Articles
- EP ID EP739713
- DOI 10.47191/jefms/v7-i6-70
- Views 45
- Downloads 0
Readiness to Apply MSMEs Financial Accounting Standards in the Preparation of Financial Reports in UD. Sari Rama Bakery
The study aims to determine the application of SAK EMKM in the preparation of financial reports UD. Sari Rama Bakery. Methods of data collection in this study using interviews, observation and documentation. The analytic...
Socio-Economic Impacts of (CPEC) at Small Level Businessmen. A Case Study of Lahore’s Four Markets, Pakistan
Purpose: identify the development of projects which are working with CPEC and small level businessmen are getting positive or negative benefits from these projects. Their social status and culture remained in good way o...
The Effect of Profitability, Capital Structure and Investment Decisions on Firm Value with Leverage as an Intervening Variable in FnB Sector Companies Listed on the IDX
This study aims to determine and analyze the effect of profitability, capital structure and investment decisions on leverage and firm value in FnB Sector companies listed on the Indonesia Stock Exchange in 2017-2019. The...
The Judicial and Legislative System in the Society of Prof. Momchil Dobrev’s and by Prof. Mariola Garibova-Dobrev’s Theory of SocioHumanism - Against the Judiciary of the Global Mafia Masonic Elite and its Deep Rule
: Lord Prof. PhD PhD Momtchil Dobrev-Halachev and Prof. Mariola Garibova-DObreva developed 2006 Theory of socio-humanism by developing the creation of a new human society with a new political, economic, social, health,...
The Role of Indigenization on Service Quality: A Case of Zimbabwe’s Banking Sector
This paper seeks to contribute scholarly knowledge on service quality, by exploring the role of indigenisation policy in the Zimbabwean banking sector. Our study adopted a multiple methods approach as a means to gainin...