Evaluating of the effectiveness of Auditing Committees in Iraqi Private Banks | ||
| Economic Sciences | ||
| Article 1, Volume 8, Issue 30, June 2013, Pages 183-230 PDF (0 K) | ||
| Author | ||
| Fatima Jassim Mohammed | ||
| Abstract | ||
| Abstract : Under the wide improvements in the roles of the banking sector in economic life and the increasing volume of transactions by the banks, and the cases of financial crisis, credit problems, bankruptcies, and money laundering, on the other hand, a need has been approved to strengthen the controlling techniques on the Banking operations. That is coming out through increasing issuing legislation and the recommendations by the concerned authorities and professional organizations, and the banking acts in most countries emphasis in control procedures. The Banking Act No. 94 of Iraq for the year 2004 includes that all Iraqi Banks should constitute an auditing committee, and specifying the duties, authorities and structure of these committees, inspite of these committees are still not effective in performance of there role to strengthening controls in the Iraqi private banks. Accordingly, this research came to study one aspect of the control techniques. It’s the auditing committee in Iraqi banks, by investigating the importance of existence their committees and the historical development of their appearance in the world and its supervisory role in the various sectors. Then specify the criteria for effective performance of audit committees, and study the legislations of formulation these committees in Iraqi private banks. Beside it will try to give proposals to develop the role of these committees in strengthening the control in Iraqi banks. | ||
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