The Audit Committee of an Emerging Economy

• In Event: Session D: International Accounting

Abstract

We use content analysis technique to assess independence and behaviors of members of audit committees of a large Egyptian mortgage firm when expressing their views at meetings. This study fills the gap due to inaccessibility and confidentiality of the committees’ minutes. We measure contributions, frequency of words and phrases used in the meetings, and extent of follow-up actions by the Board. Gender equality, financial skills and knowledge, and willingness of members to participate at meetings are essential variables in determining the committees’ composition. We rely on completeness and accuracy of the minutes. The findings have ramifications to regulators and policy makers on composition of independent board in term of size, skills, background and gender equality, and willingness of members to participate and contribute toward an audit committee.

Authors

• Mohamed Hegazy, The American University in Cairo

• Gin Chong, Prairie View A&M University