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Outsourcing internal audit services : an empirical study on Queensland public-sector entities
journal contribution
posted on 2004-01-01, 00:00 authored by Navaneetham Subramaniam, C Ng, Peter CareyPeter CareyA study of Queensland public-sector entities suggests outsourcing of internal audit services to be extensive (88%), with 51% of respondent agencies adopting co-sourcing and 37% of the agencies fully outsourcing. Results suggest that internal audit outsourcing is largely adopted for non-financial reasons such as lack of technological know-how and service quality rather than financial reasons. Deficiencies of current governance arrangements concerning internal audit outsourcing include (1) a lack of audit committee involvement in outsourcing processes, particularly in co-sourcing entities, and (2) inadequate segregation of duties whereby the same senior management is involved in key arrangements including selection, approval, negotiation and evaluation of contractual performance.
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Journal
Australian accounting reviewVolume
14Issue
3Pagination
86 - 95Publisher
Wiley-BlackwellLocation
Richmond, Vic.Publisher DOI
ISSN
1035-6908eISSN
1835-2561Language
engPublication classification
C1.1 Refereed article in a scholarly journalCopyright notice
2004, Wiley-BlackwellUsage metrics
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