Audit Committee Characteristics and Financial Reporting Quality: Malaysia Cooperative Experience

Abstract

This study investigates the relationship between audit committee composition, audit committee meeting, audit committee independent with the financial reporting quality among cooperative society in Malaysia. A structured questionnaire was distributed to audit committee member, board members and the stakeholders of cooperative throughout Malaysia. The data analysis from 149 completed responses revealed that audit committee composition, audit committee meeting, audit committee independent proved to have a significant impact on the financial reporting quality among the cooperative society in Malaysia. The finding of this study not only contributed to literature in exploring determinant financial reporting quality of cooperative, but they also provide insights to the governing bodies and the cooperative stakeholders to make policy decisions for improving financial reporting quality. This present study, however, has limitations due to the use of closed questionnaires that might not capture further information completely.