Naslov
Auditing as external surveillance mechanism of corporate governance

Autori
Žager, Lajoš ; Sever Mališ, Sanja

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, pp prezentacija, ostalo

Skup
Međunarodna znanstvena konferencija "Legal and Economic Aspects of Corporate Governance - Market "Transparency and Disclosure in Private and Public Companies", 3. svibnja 2013, Ekonomski fakultet – Zagreb

Mjesto i datum
Zagreb, Hrvatska, 03.05.2013

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
external auditing; corporate governance; audit committes; surveillance mechanism

Sažetak
This paper examines the main functions and responsibilities of external auditing as external surveillance mechanism of corporate governance and its connection with audit committees in order to increase the quality of corporate governance according to law and professional standards. Considering the main features of organizing and function of external auditing as external surveillance mechanisms is key assumption for understanding the complexity of the entire process of corporate governance. In that sense, the responsibilities of audit committees are surveillance of risk management process and systems of internal controls, financial reporting process, compliance with laws and regulations, communication and cooperation with external auditors. Among other responsibilities, audit committee must cooperate with external auditors. This paper summaries the relevant facts of auditing as external surveillance mechanisms and explains the influence of organizational and functional factors of external auditing and audit committee on the quality of financial statements reporting. Based on the findings and results of research it can be concluded that there are necessary further significant improvement in organizing and functioning external surveillance mechanisms, especially coordination between audit committees and external auditing, in order to improve the process of corporate governance.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA