The impact on the timeliness of performance quality of internal audit Independent audit reports

Subject Areas :

زهره Hajiha ¹ , آزاده Rafiei ²

1 - استادیار، گروه آموزشی حسابداری، واحد تهران شرق ، دانشگاه آزاد اسلامی، تهران، ایران
2 - کارشناس ارشد ، گروه حسابدرای، واحد اسلامشهر، دانشگاه آزاد اسلامی، تهران، ایران

Received: 2015-05-06 Accepted : 2015-05-06 Published : 2014-12-22

Keywords:

Abstract :

This study examines the role of internal audit function (IAF) in the timeliness of financial audit. Audit delay is the number of days between a firm’s fiscal year-end and the audit report date. This delay reduces the access to information among market participants and potentially reduces the information content of accounting reports. Audit delay also serves as a proxy for audit efficiency. Therefore, this research has been lunched using data 57 firms listed on Tehran Stock Exchange that their internal audit reports had been offered to audit committee or Board. In this research we used the survey method by questionnaire for gathering required data. Logit regression and Pearson correlation have been employed. We used objectivity, age of internal audit unit and size of internal audit unit to measure IAF. The research results indicate that there are a negative relationship between objectivity and size of internal audit unit with audit delay; however, there is no significant relationship between age and audit delay.