JOURNAL OF ACCOUNTING, FINANCE, ECONOMICS, AND SOCIAL SCIENCES

Volume 5, Number 1, 2020, 19 – 29

The Relationship of Internal Audit and Risk Management: The Impact of Turbull Factors

 

Parmindar Singh, Ph.D.
Crescendo International College, Malaysia
Email: [email protected]
CamEd Business School, Cambodia

Email: [email protected]

DOI: https://doi.org/10.62458/jafess.160224.5(1)19-29

Received: January 2020
Revised: April 2020
Accepted: June 2020

ABSTRACT

This research aims to find the relationship between internal audit and factors as specified by Turbull, namely, organizational changes, internal control failings, unexplained/unacceptable events, scale, diversity and complexity of activities and risk exposure. In addition, this research also looks at any relationship between internal audit and being public-listed. The results from this research indicates that there is a relationship between having an internal audit function and being public-listed as well as the scale, diversity and complexity of activities. However, this research finds no relationship between internal audit and organizational changes, internal control failings, unexplained/unacceptable events and risk exposure. The reasons why these deviates from corporate governance best practices are then explained. This research used convenience sampling, Chi-Square analysis and nominal data.

Keywords: Internal audit; Turbull; corporate governance; internal controls; Chi-Square

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Singh, P. (2020). The relationship of internal audit and risk management: The impact of Turbull factors. JAFESS, 5(1), 19 – 29. https://doi.org/10.62458/jafess.160224.5(1)19-29

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