Internal Audit Effectiveness in Insurance and Takaful Companies in Malaysia: A Study of Internal Auditors and Auditees’ Perceptions

IF 0.8 Q4 BUSINESS, FINANCE

Asian Journal of Business and Accounting Pub Date : 2022-12-31 DOI:10.22452/ajba.vol15no2.1

Noor Adwa Sulaiman, Nadratun Na’im Kamarudin, S. Shahimi

{"title":"Internal Audit Effectiveness in Insurance and Takaful Companies in Malaysia: A Study of Internal Auditors and Auditees’ Perceptions","authors":"Noor Adwa Sulaiman, Nadratun Na’im Kamarudin, S. Shahimi","doi":"10.22452/ajba.vol15no2.1","DOIUrl":null,"url":null,"abstract":"Manuscript type: Research paper Purpose: This study examines the views of internal auditors and auditees on factors affecting internal audit effectiveness (IAE) in insurance and takaful companies in Malaysia. Design/Methodology/Approach: A total of 240 respondents participated in a self-administered survey questionnaire. Findings: Multiple regression analyses suggests independence as well as the resources of internal audit functions (IAF) and relationship with the audit committee is perceived to affect IAE. However, management support is perceived to be less significant in affecting IAE. Furthermore, independent t-test and eta squared analyses show that respondents perceive the factors that significantly affect IAE differently, with independent internal audits scoring the highest. Research limitations/Implications: The respondents were only limited to internal auditors and auditees in insurance and takaful companies. Practical implications: Such empirical evidence is expected to be used by companies, regulators as well as researchers in understanding the prevailing factors affecting IAE in insurance and takaful companies. Originality/Value: The value of this study is grounded on limited studies of IAE in the financial industry, specifically insurance and takaful companies, and the analysis of both auditors and auditees’ views on the principal factors affecting IAE.","PeriodicalId":54083,"journal":{"name":"Asian Journal of Business and Accounting","volume":" ","pages":""},"PeriodicalIF":0.8000,"publicationDate":"2022-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Journal of Business and Accounting","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.22452/ajba.vol15no2.1","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}

引用次数: 2

Abstract

Manuscript type: Research paper Purpose: This study examines the views of internal auditors and auditees on factors affecting internal audit effectiveness (IAE) in insurance and takaful companies in Malaysia. Design/Methodology/Approach: A total of 240 respondents participated in a self-administered survey questionnaire. Findings: Multiple regression analyses suggests independence as well as the resources of internal audit functions (IAF) and relationship with the audit committee is perceived to affect IAE. However, management support is perceived to be less significant in affecting IAE. Furthermore, independent t-test and eta squared analyses show that respondents perceive the factors that significantly affect IAE differently, with independent internal audits scoring the highest. Research limitations/Implications: The respondents were only limited to internal auditors and auditees in insurance and takaful companies. Practical implications: Such empirical evidence is expected to be used by companies, regulators as well as researchers in understanding the prevailing factors affecting IAE in insurance and takaful companies. Originality/Value: The value of this study is grounded on limited studies of IAE in the financial industry, specifically insurance and takaful companies, and the analysis of both auditors and auditees’ views on the principal factors affecting IAE.

查看原文本刊更多论文

马来西亚保险公司和Takaful公司内部审计的有效性：内部审计师和被审计人的认知研究

手稿类型：研究论文目的：本研究考察了内部审计师和被审计单位对马来西亚保险和takaful公司内部审计有效性影响因素的看法。设计/方法/方法：共有240名受访者参加了一份自我管理的调查问卷。调查结果：多元回归分析表明，独立性以及内部审计职能（IAF）的资源以及与审计委员会的关系被认为会影响IAE。然而，管理层的支持被认为对IAE的影响较小。此外，独立t检验和eta平方分析显示，受访者对显著影响IAE的因素的看法不同，其中独立内部审计得分最高。研究局限性/影响：受访者仅限于保险和takaful公司的内部审计师和受审计者。实际意义：这些经验证据预计将被公司、监管机构以及研究人员用于了解影响保险和takaful公司IAE的主要因素。独创性/价值：本研究的价值基于对金融业，特别是保险和takaful公司的IAE的有限研究，以及对审计师和被审计方对影响IAE的主要因素的看法的分析。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Asian Journal of Business and Accounting BUSINESS, FINANCE-

CiteScore

2.00

自引率

11.10%

发文量

期刊介绍： An academic journal that aims to advance knowledge in the business and accounting disciplines, to narrow the gap between theory and practice, and to set direction for policy initiatives in Asia. Welcome to the Asian Journal of Business and Accounting (AJBA). AJBA is an international refereed journal, published biannually (30th June and 30th December) by the Faculty of Business and Accountancy, University of Malaya, Malaysia. AJBA aims to publish scholarly business researches that are relevant to Malaysia and the Asian region. It intends to highlight the practical implications in promoting better business decision making process and the formulation of public policy in Asia. This journal publishes theoretical, conceptual, and empirical papers within the broad areas of business and accounting in Asia. The AJBA covers a broad spectrum of the business and accounting disciplines. A suggestive (though not necessarily comprehensive) list of areas that would be included in this journal are: general management, strategic management, human resource management, organizational behaviour, labour and industrial relations, international business management, business communication, entrepreneurship, leadership, management science, operations management, production management, supply chain management, marketing management, brand management, consumer behaviour, information management, e-marketing, e-commerce, quality management, retailing, service marketing, hospitality management, hotel and tourism management, asset pricing, capital and money markets, corporate finance, derivatives markets, finance and banking, financial economics, etc.