Audit and risk committee in financial crime prevention

Purpose: This empirical study aims to examine two areas: first, the characteristics of the audit committee and their relationship with corporate financial crime so as to ensure that their effectiveness as a corporate governance mechanism is still relevant; and second, the effectiveness of having a r...

Full description

Bibliographic Details
Published in:Journal of Financial Crime
Main Author: Abdullah W.N.; Said R.
Format: Article
Language:English
Published: Emerald Group Publishing Ltd. 2019
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85062518839&doi=10.1108%2fJFC-11-2017-0116&partnerID=40&md5=8b151fa74f36b33413b8d983ae035af9
id 2-s2.0-85062518839
spelling 2-s2.0-85062518839
Abdullah W.N.; Said R.
Audit and risk committee in financial crime prevention
2019
Journal of Financial Crime
26
1
10.1108/JFC-11-2017-0116
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85062518839&doi=10.1108%2fJFC-11-2017-0116&partnerID=40&md5=8b151fa74f36b33413b8d983ae035af9
Purpose: This empirical study aims to examine two areas: first, the characteristics of the audit committee and their relationship with corporate financial crime so as to ensure that their effectiveness as a corporate governance mechanism is still relevant; and second, the effectiveness of having a risk committee which is separated from the audit committee in the prevention of corporate financial crime. Design/methodology/approach: This empirical research was carried out by using a Web-based data collection for corporate financial crime cases. Findings: While the results for audit committee characteristics are not supported, the findings, however, indicate a significant relationship between the existence of a stand-alone risk committee with corporate financial crime incidences. Practical implications: The result of the study serves as an empirical indicator of a firm’s consideration in deciding on the implementation of a stand-alone risk committee from its audit committee. Originality/value: Both the descriptive and correlation analyses produced by this paper provide new insights into the extent of corporate financial crime, as well as the empirical evidence of the effectiveness of having a stand-alone risk committee. © 2019, Emerald Publishing Limited.
Emerald Group Publishing Ltd.
13590790
English
Article

author Abdullah W.N.; Said R.
spellingShingle Abdullah W.N.; Said R.
Audit and risk committee in financial crime prevention
author_facet Abdullah W.N.; Said R.
author_sort Abdullah W.N.; Said R.
title Audit and risk committee in financial crime prevention
title_short Audit and risk committee in financial crime prevention
title_full Audit and risk committee in financial crime prevention
title_fullStr Audit and risk committee in financial crime prevention
title_full_unstemmed Audit and risk committee in financial crime prevention
title_sort Audit and risk committee in financial crime prevention
publishDate 2019
container_title Journal of Financial Crime
container_volume 26
container_issue 1
doi_str_mv 10.1108/JFC-11-2017-0116
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85062518839&doi=10.1108%2fJFC-11-2017-0116&partnerID=40&md5=8b151fa74f36b33413b8d983ae035af9
description Purpose: This empirical study aims to examine two areas: first, the characteristics of the audit committee and their relationship with corporate financial crime so as to ensure that their effectiveness as a corporate governance mechanism is still relevant; and second, the effectiveness of having a risk committee which is separated from the audit committee in the prevention of corporate financial crime. Design/methodology/approach: This empirical research was carried out by using a Web-based data collection for corporate financial crime cases. Findings: While the results for audit committee characteristics are not supported, the findings, however, indicate a significant relationship between the existence of a stand-alone risk committee with corporate financial crime incidences. Practical implications: The result of the study serves as an empirical indicator of a firm’s consideration in deciding on the implementation of a stand-alone risk committee from its audit committee. Originality/value: Both the descriptive and correlation analyses produced by this paper provide new insights into the extent of corporate financial crime, as well as the empirical evidence of the effectiveness of having a stand-alone risk committee. © 2019, Emerald Publishing Limited.
publisher Emerald Group Publishing Ltd.
issn 13590790
language English
format Article
accesstype
record_format scopus
collection Scopus
_version_ 1809677783916347392