The Role of Auditing in Corporate Governance in Australia and New Zealand: A Research Synthesis

Running head: MANAGEMENT
The Role of Auditing in Corporate Governance in Australia and New Zealand: A Research
Synthesis: Auditing and Governance in Australia and New Zealand
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MANAGEMENT
Table of contents
Introduction................................................................................................................................2
Research questions.....................................................................................................................2
Concept of corporate governance...............................................................................................3
Corporate governance in Australia.........................................................................................3
Corporate governance in New Zealand..................................................................................3
Summary of the theory and progression....................................................................................4
Common themes/findings..........................................................................................................5
Different themes/findings...........................................................................................................5
Managerial implication..............................................................................................................6
Study limitations and future research direction proposed..........................................................7
References..................................................................................................................................9

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MANAGEMENT
Introduction
Corporate governance relates to the monitoring of the business activities through
mechanisms, relations and processes. This involves directly the interest of the stakeholders.
Corporate governance has attained new heights in operation in the threshold of Australia and
New Zealand (Hay, Stewart and Botica 2017). This literature review attempts to enhance the
awareness of the readers regarding the role of auditing in the corporate governance. The main
focus is on the performance of the auditing committees and large corporations towards
conducting audits and reviews of the operations for enhancing the standards and quality of
monitoring and regulation.
Research questions
• How can audit help to prevent or minimise fraud or error?
Internal audits helps in identifying the mitigating the risks, which can stall the
activities of corporate governance in the threshold of Australia and New Zealand. The aspects
of accurate processing, policies, safeguarding against fraud risks, operational risks and
information system controls suffices the need of minimising the frauds and errors (Chang, A.,
2018).
• How or what can be improved to have better auditing?
Planning for the financial statement audits can be constructed well in advance.
Systematic approach in this direction would help the auditors in mitigating the risks within
the stipulated time. Along with this, Du Plessis, Hargovan and Harris (2018), the planning is
also beneficial in terms of organizing and managing the engagements.
• How important is auditing in the foundation of a good corporate governance?
Corporate governance plays an important role in financial reporting, which plays an
important role in detecting the misappropriations in the large corporations of Australia and