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Article
Publication date: 18 March 2022

Yusun Jung and Moon-Kyung Cho

This paper aims to examine the extent to which two commonly recommended information sharing and communication interventions, direct reporting lines between the internal audit…

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Abstract

Purpose

This paper aims to examine the extent to which two commonly recommended information sharing and communication interventions, direct reporting lines between the internal audit function (IAF) and the audit committee (AC) and their joint reviews of internal audit standards and procedures, improve the internal audit in the continuous audit control and monitoring efforts.

Design/methodology/approach

This study uses data from the Audit Intelligence Suite-Benchmarking (AIS) Report for the years 2007 to 2016 published by the Institute of Internal Auditors. The authors test the research hypotheses using the ordinary least squares regression method.

Findings

Functional reporting lines from the IAF to the AC positively impact the internal audit, but administrative lines have a negative impact. Reviews conducted jointly between the IAF and the AC positively influence the internal audit. The impacts of reporting lines and joint reviews are also associated with accounting complexity within a given industry, organizational control structure, organizational scope and the level of IAF’s responsibilities over internal control environment to comply with Sarbanes–Oxley (SOX) Act of 2002.

Research limitations/implications

Because the study uses AIS data, operationalization of variables is constrained to items in the given data set. Future studies, including field studies, may identify other variables and measures using diverse data sources. This study expands the knowledge of effective means of information sharing and communication to enhance interactions between the IAF and the AC.

Practical implications

The results suggest that the use of reporting lines should correspond to accounting complexity, organizational control structure, organizational scope, and reliance on the IAF in handling SOX responsibilities. They also highlight the importance of joint reviews between the IAF and AC in ensuring a high-quality internal audit.

Originality/value

The authors envisioned reporting lines and joint reviews as an excellent tool to balance the relationship between the IAF and the AC for continuous internal auditing beyond generating internal audit reports according to the US Committee of Sponsoring Organizations of the Treadway Commission framework Principle 14.

Details

Managerial Auditing Journal, vol. 37 no. 4
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 5 May 2015

Moon-Kyung Cho, Ho-Young Lee and Hyun-Young Park

– The purpose of this paper is to examine the effect of the characteristics of statutory internal auditors on operating efficiency.

1716

Abstract

Purpose

The purpose of this paper is to examine the effect of the characteristics of statutory internal auditors on operating efficiency.

Design/methodology/approach

This study investigates three characteristics pertaining to statutory internal auditors, namely, compensation, activity and expertise, based on 1,340 firm observations from 2009 to 2010 using publicly available disclosure data for Korean listed firms.

Findings

The authors find no evidence that statutory internal auditors’ compensation is positively associated with operating efficiency. This implies that compensation data on statutory internal auditors in Korea may not directly reflect their competence and ability to enhance operating efficiency. On the other hand, the authors find evidence for a positive association between full-time status for statutory internal auditors and operating efficiency and a positive association between the attendance at board meetings for statutory internal auditors and operating efficiency. The results also show a decrease in operating efficiency when statutory internal auditors are newly appointed. Finally, expertise of statutory internal auditors in financial or legal matters provides no advantage in terms of operating efficiency.

Practical implications

This study contributes to the extant literature on internal audit by examining the advisory role of statutory internal auditors and its effect on operating efficiency, which is one of the objectives established by the Committee of Sponsoring Organizations of the Treadway Commission.

Originality/value

While most prior research on internal audit depends on survey data from statutory internal auditors or experimental data based on a limited sample of firms, this study is based on a large sample of publicly available data of the Korean market.

Details

Managerial Auditing Journal, vol. 30 no. 4/5
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 21 December 2023

Won-jun Lee and Moon-Kyung Cha

The non-fungible token (NFT) market has been multiplying in recent years. NFTs are tokens stored on a blockchain network based on smart contract technology that can be used to…

704

Abstract

Purpose

The non-fungible token (NFT) market has been multiplying in recent years. NFTs are tokens stored on a blockchain network based on smart contract technology that can be used to represent ownership of digital assets and cannot be changed like-for-like. With NFTs, all recorded digital properties can be freely traded and stored with values, making them possible to increase content transactions' privacy and security. In addition, NFTs engender new ways to organize, consume, share and store digital content. Despite the rapid growth of the NFT market, related consumer behaviors have yet to be well-known and relevant academic research results are very scarce. This study aims to explain how NFT fits with blockchain and cryptocurrency and how consumers accept it. This paper also develops a structured causal model with multiple paths to explain the antecedents and attitude variables for NFT acceptance.

Design/methodology/approach

The data collection was conducted from 542 young consumers in Korea via an online survey. The structural equation modeling method was used to analyze the hypotheses.

Findings

Attitudes toward technology and assets positively affect NFT purchase behavioral intentions. Additionally, symbolic driver affects behavioral intention directly.

Originality/value

The results expanded the understanding of the NFT market and consumers, which are still in their early stages. They also provide valuable insights for establishing future market strategies for NFT.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 36 no. 6
Type: Research Article
ISSN: 1355-5855

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