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    The composition of New Zealand public sector audit committees

    Rainsbury, Liz; Capper, Patsie-Ann; Malthus, Sue

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    Rainsbury - audit committees.pdf (121.6Kb)
    Date
    2010-07-01
    Citation:
    Rainsbury, E., Malthus, S., & Capper, P. (2010). The composition of New Zealand public sector audit committees. In Proceedings of the 2010 AFAANZ Conference, Christchurch. Retrieved from http://www.afaanz.org/openconf/2010/openconf.php
    Permanent link to Research Bank record:
    https://hdl.handle.net/10652/1665
    Abstract
    This study investigates the association between the source of funding of New Zealand public sector entities (PSEs) and the composition of their audit committees. Fifty PSEs in the health, local government and tertiary sectors were examined and the results show that only 28 PSEs (56 percent) disclosed the existence of an audit committee in their annual reports. The size of the audit committees that exist are on average larger than that recommended by best practice guidelines; however most of the PSEs, with the exception of some of the education providers, do comply with guidelines recommended for audit committee independence and financial expertise. The study also finds that PSEs that have higher levels of debt are more likely to have independent audit committees; however PSEs that rely on high levels of government funding are not more likely than other PSEs to have an audit committee with a majority of independent members and a financial expert.
    Keywords:
    Audit committees, Public sector entities
    ANZSRC Field of Research:
    150102 Auditing and Accountability
    Copyright Holder:
    Liz Rainsbury, Patsie-Ann Capper and Sue Malthus
    Available Online at:
    http://www.afaanz.org/openconf/2010/modules/request.php?module=oc_proceedings&action=view.php&a=Accept+as+Paper&id=239
    Rights:
    This digital work is protected by copyright. It may be consulted by you, provided you comply with the provisions of the Act and the following conditions of use: Any use you make of these documents or images must be for research or private study purposes only, and you may not make them available to any other person. You will recognise the author's and publishers rights and give due acknowledgement where appropriate.
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    • Accounting and Finance Conference Papers [69]

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