The Effect of the Characteristics of Audit Committees on the Quality of Financial Reports in Commercial Banks: a Field Study on Banks Listed in the Stock Market in Turkey

Abstract

This study aimed to verify the existence of an effect of the characteristics of audit committees on the quality of financial reports. Size of the audit committee, the number of committee meetings and the experience of its members were chosen as characteristics to represent the audit committee characteristics, the data related to variables of the study were collected from the annual reports published for the fiscal year 2021, for 12 commercial banks listed in the stock market in Turkey. After applying descriptive analysis and statistical tests (correlation and regression), the results of the study showed that, the level and quality of financial reports in commercial banks is high and reaches 92% in some banks according to the scale used in the study. The results of the study also confirmed the existence of a positive and statistically significant relationship between the characteristics of audit committees and the quality of financial reports.