The Role of Auditing Committees in Activating Corporation Governance Concept for The purpose of Corruption Fighting in Financial institutions

Research Abstract

The Role of Auditing Committees in Activating Corporation Governance Concept for The purpose of Corruption Fighting in Financial institutions Summary The Financial Corruption is one of the most dangerous phenomena facing most of the countries, specially the developing ones. It can cause a recession in the process of construction and economic development , as it involves destruction of the economy and the financial capacity of the giant financial institutions which its financial position affect the economy of those countries. Collapses and financial scandals which affected major listed companies in the world. Traditional methods and mechanisms have failed to prevent such collapses, which prompted the stakeholders at both domestic and international level to conduct rigorous studies to determine the main reasons was behind the occurrence of such financial scandals.The audit committees one of the main corporate governance mechanisms in addressing and combating the phenomenon of corruption. It can activate other corporate governance mechanisms and enhance the integration of all parties of governance to eliminate the causes and factors of this serious problem, such as external audit, internal audit, preparation of the financial reports, and verification the adequacy of the internal control, and other mechanisms.

Research Keywords

Auditing committee, corporate governance, financial corruption