Turnbull : generating undue expectations of the corporate governance role of audit committees

Zaman, Mahbub (2001) Turnbull : generating undue expectations of the corporate governance role of audit committees. Managerial Auditing Journal, 16(1), pp. 5-9.

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Following an initial consultation draft (Turnbull 1999a), the Internal control Working Party of the Institute of Chartered Accountants in England and Wales, chaired by Nigel Turnbull, executive director of Rank Group plc. has published Internal Control: Guidance for Directors of Listed companies Incorporated in the UK (Turnbull, 1999b). The guidance is commonly referred to as the Turnbull Report. This paper outlines the key recommendations of the report and discusses some of its implications, particularly in the context of the increasing emphasis on a broader corporate governance role for audit committees. The paper suggests that the increasing role envisaged of audit committees for example lately in the UK by Turnbull, may generate undue expectations are premised on an unsubstantiated notion of the contribution of audit committees.

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ID Code: 76227
Item Type: Journal Article
Refereed: Yes
Keywords: audit committees, corporate governance
DOI: 10.1108/02686900110363429
ISSN: 0268-6902
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Deposited On: 08 Dec 2014 22:53
Last Modified: 14 Dec 2014 23:19

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