What is it about?
Corporate governance operates differently in praxis compared with the best practice standards on which is it based. Practitioners take best practice standards and apply them differently in praxis. A practice theory lens is applied in examining the work of audit committees in praxis.
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Why is it important?
Much prior research assumes audit committees and other governance mechanisms operate as set out in corporate governance code. It is important that research reflects the practical realities rather than idealised norms.
Perspectives
I have been a member of quite a few audit committees. The practical implementation of best practice standards as articulated in corporate governance codes is a challenge, influenced by the interpersonal dynamic between audit committee members, managers and auditors. This paper captures the difficulties of implementing best practice standards in praxis.
Professor Niamh M. Brennan
University College Dublin
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This page is a summary of: Audit committees: practices, practitioners and praxis of governance, Accounting Auditing & Accountability Journal, May 2015, Emerald,
DOI: 10.1108/aaaj-01-2015-1925.
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