Authors: Christos Orliaklis; Christos Konstantinidis; George Drogalas; Michail Pazarskis
Addresses: School of Business Administration, International Hellenic University, Serres, Greece ' School of Business Administration, International Hellenic University, Serres, Greece ' School of Business Administration, University of Macedonia, Thessaloniki, Greece ' School of Economics, International Hellenic University, Serres, Greece
Abstract: The internal audit of the organisations constitutes a valuable tool for the management as well as a legal obligation for the registered companies in Greece. The main role of the internal audit is the reassurance of the assets of the firms and the added value that brings up, allowing their viability and their lifelong prosperity. Thus, the present study attempts to investigate the factors that affect the internal audit quality and the competitive advantages these might infer to the firms, via a questionnaire completed by 67 internal auditors. Multiple regression analysis examined the association between the quality of internal audit and the following principal factors. The results revealed the scale that the internal audit quality is influenced by: 1) the effectiveness of the internal audit function; 2) the competence of internal auditors; 3) the objectivity of the internal audit departments; 4) the managerial skills of the chief internal auditors; 5) the work load and job satisfaction; 6) the technological environment.
Keywords: factors of internal audit quality; internal audit quality; internal audit; audit quality; competitive advantage; chief internal auditor.
International Journal of Critical Accounting, 2021 Vol.12 No.4, pp.315 - 330
Received: 27 Feb 2021
Accepted: 05 May 2021
Published online: 20 Oct 2021 *