Corporate Governance, Audit Committees, and Effective Internal Controls over Financial Reporting

It is generally observed that companies that incur internal control deficiencies lack sound corporate governance and have ineffective audit committees. Whereas, companies with strong internal controls perceive the importance of corporate governance and the implicit role performed by the audit committee. Although, a number of studies have explored the impact traditional corporate governance and audit committee measures have on internal controls, few have focused on the compositional mixture of skills and group interactions